- WHAT HAPPENS IF I WANT TO SELL MY SHARE?
Owners who decide to sell under the Shareholder Agreement must give first refusal to the other shareholders. This is part of Fractional Ownership. Many owners like to buy more time in their property and some will eventually wish to own it outright.For some Fractional Owners circumstances may change.
^back to top
- HOW EASY IS IT TO RESELL A FRACTIONAL PROPERTY OWNERSHIP?
At the present time the process of re-selling a fraction as a product is relatively new although Luxury Yacht Owners have been doing this for a number of years, but if like the current interest in this product is huge, finding buyers will only become easier as the concept becomes accepted and more familiar.
^back to top
- IS IT A FORM OF OR HOW DOES IT DIFFER FROM TIMESHARE?
Fractional Freehold Ownership does have similarities with timeshare but overall is more affordable and flexible whilst having capital growth. You are able to buy into virtually any type of property within your budget,anywhere. Timeshare is limited to managed resorts. With Fractional Freehold you get freehold rights so the share can be truly inherited.
Making decisions regarding the property and exchanging weeks is easy to do with co-owners. You will have details of all other Fractional Owners. The problem with timeshare is a degree of misunderstanding caused by a small percentage of oversold product and an over aggressive market. Fractional Ownership is a simple concept product.
^back to top
- DO FRACTIONAL PROPERTIES INCREASE IN PRICE COMPARED TO TRADITIONAL FREEHOLD HOMES?
As the value of the property rises,so does the share price. As an owner you hold a share or shares in the company’s asset which is the property. Due to the affordability coupled with the supply and demand, the cost of all shares may well go up exceeding the full market value of the property.
^back to top
- ARE OWNERS ALLOWED TO LET PROPERTY DURING THEIR WEEKS AND WHAT RENT INCOME MIGHT BE EXPECTED?
Owners can rent all or part of the time that they own. Rental income comes down to several factors,the season,type and size of property,location and the market.If someone is interested in rental potential then speaking to a local agent will evaluate your property. At the current time a healthy rental market exists due to low cost airlines and self holiday packages. A three bedroom apartment in Marbella would earn between €1,000 to €1,800 per week in July/August-and this is being conservative.
^back to top
- CAN YOU RECOMMEND LAWYERS TO OVERSEE THE FRACTIONAL FREEHOLD OWNERSHIP CONVEYANCE?
We have put together a network of lawyers who specialise in overseas property conveyancing with associates in each purchasing country. As the product is a freehold purchase one lawyer is needed to oversee the establishment of the Company and share distribution. Costs will be a share of the total costs as per a total freehold purchase.
Fractional Freehold Ownership is not to be confused with timeshare.Your share of the property is fully secured by a freehold title held in the countries land registry.
^back to top
- CAN I FINANCE MY SHARE OF OWNERSHIP?
Yes. This is done by raising the share required against your own property,finance cannot be raised against your ownership share because you will then have a 3 rd party interest in the property which is not allowed under the shareholder agreement. Fractional Ownership is 100% secure.We can help by putting you in touch with a financial advisor.
^back to top
- CAN I RESERVE MY OWNERSHIP SHARE?
Yes. A deposit of £1500 or €2200 will reserve your property share in a client account whilst the necessary preparation takes place for either the issue of your share certificate or the need to secure funds for your purchase.
^back to top
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP PAYMENTS ON YOUR MORTGAGE. |