Q: Can I list a second property such as a vacation property or rental unit? Do I need to list my primary place of residence first?
As a property owner you can list equity in any property you own in any order, even if it is occupied by other residents. Investors purchasing equity have no residential rights to property and only acquire its equity as a financial asset. There are no separate requirements for properties if they are not your primary place or residence. You can also list equity from multiple properties at the same time and manage all listings from the main Listings screen.
Q: Will I be taxed on income from sold equity?
Selling equity in your property can trigger capital gains taxes or real estate transfer taxes in the same way that selling your entire property on the real estate market traditionally can. Tax laws are very complex and vary across jurisdictions. Vesta Equity is not a tax advisor and cannot provide tax advice so we highly recommend that you consult a tax advisor before transacting on the marketplace.
Q: Do I need to hold equity I recently purchased for any period of time?
Once your equity purchase is approved the asset is yours. Unlike some real estate securities you can begin reselling it immediately. You might want to do this, for example, if you see an opportunity to make a profit or you need to liquidate your asset.
Q: I’m thinking of moving outside of the United States. Can I continue to use Vesta Equity?
We currently require a United States residency to buy equity on the marketplace. If you relocate outside of the United States you can continue to log into and manage your account and equities but cannot purchase any new equity. You can, however, sell equity either as a property owner or as an investor relisting equity.