EstateGuru, a property-backed loan marketplace catering to retail investors, recently noted that they wanted to help users with moving loans out of their portfolio fast, so they can rebalance their projected earnings, or withdraw their cash in times of crisis/emergency.
The EstateGuru team writes in a blog post that they have introduced the Instant Exit Program which allows investors to “instantly sell investments that meet the program’s criteria.”
Going on to explain how it works, EstateGuru’s management noted that their Instant Exit Program is a reserve established by EstateGuru in order to “facilitate early exit from loans for investors.”
The company further noted that it works on “a first-come-first-served basis and will be replenished regularly as we recover capital from defaulted loans through the sale of collateral assets.”
The EstateGuru team also mentioned:
“When money is available in the program, we will instantly buy any claim that meets the criteria stipulated in the program parameters of the fund from your portfolio at a 35% discount. You simply have to select the Instant Exit option where it is available, confirm the sale, and the money will be in your account immediately.”
At present, this will only apply to investments in loans “in the Baltic countries – Estonia, Latvia and Lithuania.”
While commenting on how to sell a claim, EstateGuru added:
“To sell qualifying claims, navigate to your portfolio page. You will see a list of your claims and notice that some have a shopping trolley icon next to them. This means that they can be sold on either the Secondary Market or through the Instant Exit Program.”
You may then click on the trolley icon to gain access to the claims sale page. Here you will be able to view your different options for the Secondary Market and, “directly beneath that, you will see a new section, which shows you the option to sell immediately.” This will only be “available for claims that qualify for the program,” the company clarified while adding that you will “also be able to see how much you can sell it for.”
Next up, the EstateGuru platform will be asking you to “confirm the sale by sending you an SMS code or, if you’re in Estonia, by using your digital ID card.”
You can then enter the code you will receive to “complete the sale.” The company will email you a confirmation letter “including the contract of sale and the money will be available in your EstateGuru account immediately to reinvest or withdraw.”
The entire process should take you only a few minutes, the EstateGuru team noted while adding that you are able to view the full details on how they “choose qualifying loans and more background on the program here.”
The company also mentioned that they have now “added a new filter to your portfolio that lets you easily see which of your loans qualify to be sold via Instant Exit.” You just have to “add the filter and the list will be displayed.” Then you can “click on the shopping trolley and follow the standard process detailed above to sell your claim,” the EstateGuru team explained.