Purchase procedure

We expect the "Miraflores Golf Group" proposition to attract a high degree of interest, and by definition there can only be four successful participants joining the group. In order to proceed in a timely manner, interested parties will be asked for appropriate deposits at various stages to confirm their degree of commitment, ensuring that serious enquirers obtain the full attention of the organisers, while allowing them to obtain all necessary information to reach a conclusion. It is recognised that given the scale of individual investment, a degree of caution will be appropriate on both sides, and for this reason prospective buyers will receive a further detailed Information Package before being asked to agree to any further commitment.

This step-by-step process permits both organisers and prospective buyers to validate each other’s bona fides. It includes provision of more detailed information about the property and an opportunity to examine in detail all the organisational and financial information, as well as the chance to make a full and detailed inspection of the actual property, before buyers make a firm commitment to joining. All deposits will be made to a separate client bank account in the name of the Group, for which The OwnerGroups Company Ltd. is fully accountable. All payments are credited towards the cost of membership.

Interest confirmation.

Now that you have seen this on-line prospectus, if you think you might potentially want to buy one of the shares in the group you should make initial contact with The OwnerGroups Company, either by phone or by the registration form link at the top of this page. When we receive your registration form we will send you more comprehensive information about the actual villa, starting with a DVD with a 25 minute video. This is a real-time inspection tour right through the entire property, seeing it exactly as you would be able to if visiting it by arrangement with the owners. It is not a glossy "promotional" video, but is purely to give more information to potential buyers.

Having seen the video tour you will want to reach a decision on participation. We anticipate that you may want to meet either an OwnerGroups representative, the current owners, or both, and will probably want to visit the house to see it for yourself. All these things will be arranged to suit you. At that stage we will supply a detailed Information Package, against an initial deposit of £500. The package contains all the information needed to enable you to make a final decision as to whether to proceed. It enables you to find out exactly what the property is like to live in, and to understand exactly how the group will work by examining all the relevant documentation. 

The information package includes the full text of the group membership agreement, a budget for the group's operation, and our financial value analysis software. You will be also entitled to visit the property and stay in the villa for three nights. We do not see any benefit your travelling to Spain but then staying in a hotel some distance away and only making a brief inspection which will give little more information than the video provided. Additional nights accommodation may be obtained subject to availability and agreement with the current owners. We will also make personnel available as needed to explain all aspects of the members agreement.

Purchase of the information package also secures an option to buy a one fifth share in the group. The deposits made at this stage are not refundable, as they cover the provision of accommodation and services as well as significant amounts of documentary and other information, even if you subsequently do not proceed.

Option deposit

Following provision of the detailed information discussion and any inspection visit, an enquirer may withdraw without further commitments. Should an enquirer wish to proceed further, he or she may take up the option to participate in the group. This option is initially valid for 2 months from the date of any inspection visit, or 3 months from receipt, whichever is earlier. At this point he will be asked to provide a buyer’s deposit of £5,000, this being approximately 5% of the share price. This will be placed in the group’s bank account, and credited towards the purchase price on completion. In the event that the syndicate subsequently does not proceed because of the withdrawal of the current owners of Villa Grande from the scheme, this deposit will be refunded in full, and in addition the current owners will compensate the would-be buyers for costs incurred, up to an absolute limit of £1,000 per option holder.

What do I do next?

In order to register your interest please complete the registration form found via the link at the top of the page.  If you would rather discuss this by phone you can call the organisers on (+44) 1628 486350. On receipt of your completed registration, we will contact you and dispatch the video tour DVD. Subsequently, on receipt of your information package deposit, you will be sent the Information Package containing

• Draft Membership Agreement
• Draft budget for the operation of the group
• Purchase option form
• Microsoft Excel Spreadsheet Software to make value comparisons
• Authorisation to inspect the property
• List of any furnishing, artwork or other items excluded from group inventory
  

Note: if having read this far, you are interested in the concept of OwnerGroups but not necessarily in this particular property, please follow the OwnerGroups link at the top of the page to see what other groups are in the process of being formed.