Charges

Deposits and fees.

DEPOSITS go towards costs of creating groups, and are credited to an escrow fund in your name. Subject to certain deductions which will be explained, deposits are your money and will be either credited towards a group in your name, or returned to you in most circumstances if you do not proceed.

FEES are payments to OwnerGroups for work done, and are not credited to an escrow fund.

Payment stages. These are described in detail elsewhere on this site, this is just a summary.

There is a nominal £10 DEPOSIT for registering your requirements with us. The reason for this deposit is simple - it is to deter time-wasters, spammers and robots from registering with us. It deters people who aren't really interested in buying but just like playing around on the internet, wasting your time and ours. If we allowed completely free registration, we could end up identifying many potential groups which could never actually go ahead. We need you to tell us what you would really like, in order to identify people who share your interests. But we don't want to deal with individuals who are just playing games, and a small initial deposit is enough to deter them and protect everyone else.

When we identify other people with the same basic objectives as you, and can start to form a group, we'll ask you to confirm your interest by sending a £100 group joining DEPOSIT. As it applies to everyone who might join it gives you some further confidence that the people we have identified are seriously interested in a discussion.

There's NO fee for our initial work in identifying a potential group, providing you with the initial agreement information, and our initial search and reports on suitable assets. When we are ready to start searching you will be asked for a DEPOSIT (currently £1000 or approx US $1300) to cover anticipated out-of-pocket costs incurred in this process. This deposit is placed in a separate client account set up specifically for you and the people who share your objective. We're accountable to you for everything spent from it. If the group is not formed at the end of this stage, the remainder of the deposit is returned to you.

Our group formation FEE is based on successfully achieving your objective. It is 6.5% of the value of the asset(s) purchased on behalf of the group. This is charged to the group as a whole, not to you individually. It is payable when the asset is purchased and handed over to you - in other words, if we don't succeed in putting a group together to buy what you want, we don't get paid. This one fee covers all the aspects of our business, which you would otherwise have to employ separate companies to do for you - - a "dating agency" to find compatible partners, - lawyers and accountants providing the appropriate legal and administrative structure (both between the members and for the group as a whole to own the asset) - agents to find and acquire the asset for you, and - a service to continue to run it.

Our fee does NOT of course cover any duties, taxes or legal fees etc, payable to complete the transfer, which are payable by the group as a whole. Estimates for these as well as running cost budgets will be included in the reports we provide for your decision-making on which asset the group should acquire. We believe our charges are considerably less than it would cost group members to achieve anything remotely similar on their own. Your individual liability of course will be for your share of this fee. There are also some minimum figures on our fee.

After purchase, charges are based on an annual contract, renewable after the first year. The first year's fee is payable at the time of purchase, but the group has no continuing obligation to use the OwnerGroups Company if it feels it can organise its own affairs. The exact cost of this will vary depending on the overall level of service the group wants and the type of asset involved, but for typical property groups the basic service described above (administration and finance) will be about 15% of the annual budget of the asset being managed. Remember once again that you will personally only pay a fraction of this.

Consultancy work: a one-off FEE of £600 is charged for a 3 hour meeting at a location of oyour choice, plus any travelling expenses. Further consultancy is based on an hourly FEE of £150.

Resales of shares: our commission FEE is 2.5% of the sale price.

Groups formed for current owners: FEE is negotiable, based on group success fee pro-rata to assets transferred.

VAT. Depending on the current legislation and he country involved, VAT may or may not be payable on OwnerGroups FEES. In general any VAT payable on property transactions is due in the country where the property is located. Services which are not regarding a specific property (e.g.consulting services) will generally attract UK VAT.

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