If you’re anything like me one of my favorite reading materials poolside is a local real estate magazine. Surrounded by beautiful properties and scenery I like to flip the pages looking for a dream deal. Then it appears,
“4 bedroom 3 bath ocean front view, newly remodeled, $2250000 for 25% ownership”….What’s that all about?
Unlike time shares that offer ownership with many others , fractional ownership usually has less owners per property
25% ownership allows 13 weeks of use
Other advantages may be:
- Accommodations are guaranteed at a favorite vacation destination
- Terms of the purchase are easier to negotiate with fewer owners
- You will have more input into the management of the property
- Selling may not be difficult
- Wear and tear on the property will be less with fewer owners
- Shared expenses are easy to manage
- You have an opportunity to invest in a property that may be out of your budget as a whole owner
- Properties are usually spacious high quality homes or in smaller resort complexes
- This is an option to consider when purchasing a second home if a fixed usage period is offered or a rotation that fits perfectly into your schedule.
- If you’re looking to feel more at home with each visit you will want to look at a property that is unit specific for each use.
- Find a great vacation home and purchase with family and friends
Since this type of ownership can be complicated and loaded up with stipulations the agreement to purchase or sell should be drafted by a Real Estate Professional or an attorney. With limited financing options a method of payment should be stated before executing an agreement.
Happy home buying and selling….
The future is upon us, but actually we are so behind, the future is here and some of us may be phased out entirely. What am I talking about? ROBOTS! Several companies, one in California, one in Brooklyn currently employ Bots to show real estate and take questions from Buyers. Artificial intelligence, programmed into the […]
via Robot or Realtor? — Monday Morning With Matey
As you prepare to get your home market ready, one of the most overlooked decisions concern your beloved deceased pets. Many times they are buried and adorned by a monument typically in a garden or under a tree in the yard. In a practical sense it may be a difficult task to take the pet if it was not laid to rest with the families intent to move them at a later date. You may find peace leaving the pet behind by having a discussion with the buyer and hoping they share in your sentiment. There is no right or wrong answer for this, it is a personal choice.
For all the buyers out there, chances are you will stumble across the monument after your purchase if the seller did not disclose this. If you are someone who would find this really “creepy” you may want to put this on your buyers check list, because it is very common. A sellers property disclosure may reference graves, or burial pits but I would not rely on the idea that the seller has a pet in mind, without the question being very specific it may easily get missed.
Some locations especially urban areas have restrictions concerning pet burials at your home, so it may be a good idea to check the local ordinances should you find yourself in this situation. If you are often “on the move” cremation or pet memorial gardens are a good option, and will make things easy when you relocate.
Photo courtesy of: https://pixabay.com/en/cat-kitten-nature-sweet-cute-755812
Happy home buying and selling 🙂
I made a quick unexpected trip this week to Reading Pennsylvania, located about one hour west of Philadelphia. For many years the city has gone through changes from it’s early German influence to being a welcoming community of cultural diversity today. With a full agenda on my three day visit I did squeeze in […]
via Old city offers new beginnings — The59Club