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Go Back   Pollensa Forum > LIVING & WORKING IN POLLENSA > Living & Working in the Pollensa Area

Living & Working in the Pollensa Area This forum is for any comments, questions and advice about living (permanently or temporarily) and working in the Pollensa area. Aimed at ex-pats, property owners etc.

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  #1  
Old 04-08-2009, 17:15
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Join Date: Aug 2009
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Smile 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?
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Old 04-08-2009, 17:51
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I am afraid that I have no need to - but I will watch this thread unfold with interest

GG
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Old 05-08-2009, 11:30
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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

Last edited by allanglens; 05-08-2009 at 11:31. Reason: Typo!
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