Any ideas!!!
Any ideas on how a group of us could buy a property in Pollensa that we can all share anytime we need to?
Can anybody help with ideas/suggestions?:) |
I am afraid that I have no need to - but I will watch this thread unfold with interest ;)
GG |
It is easy enough in principle, but in practice needs to be done very carefully to avoid problems at a later date.
There is an established concept, called fractional ownership, and from recollection Barnard Hamilton have put a property (or more than one) to the market on this basis. This is aimed at individuals who want (or can only afford) to have more than a timeshare week, but less than full ownership. You might well be advised to look at their model, since even going in with family / close friends you will still need a framework to deal with a number of matters. Off the top of my head you need to consider - title issues; allocation of use; maintenance; refurbishment; onward sale. From business experience if you double the number of people involved you square the number of potential problems! allanglens |
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