Villa Maricel : Purchase procedure.

With an investment of this kind, buyers will naturally want to proceed with caution, and so we have devised a step-by-step purchase process.

We expect the "Villa Maricel" Owners Group proposition to attract a high degree of interest, and by definition there can only be six 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 only serious enquirers obtain the full attention of the organisers, while allowing such enquirers quickly to obtain all the information necessary 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 form link at the bottom of this page. When we receive your registration form we will send you more comprehensive information about the actual villa, starting with a video tour of the house. 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 can be arranged to suit you. At that stage we will supply a detailed Introductory Package, against an initial deposit of €500 Euros /£375 Stg. This "package" will 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 package includes the full text of the group membership agreement, the Time Allocation Attachment, a budget for the group's operation, and a "due diligence" confirmation of title and good standing provided by a leading UK specialist law firm. We will also provide our full financial value analysis software. You will be entitled to inspect the villa at leisure and we recommend this. We can arrange accommodation at a nearby top class hotel for two nights and make personnel available as needed to explain all aspects of the members agreement. This introductory package is provided against a deposit of €500 Euros or £375, credited towards the purchase price, plus the cost of whatever accommodation and local transfers / taxis etc. you request. Flights are obviously also your own responsibility. Inspection is recommended as the villa is bought "as seen" since details shown on this website or other documentation may be subject to errors or omissions.  For information on flights etc please see the FAQ page. Purchase of the introductory package also secures your option to buy a one seventh 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 detailed information and any inspection visit, an enquirer may withdraw without further commitments. Should you wish to proceed further, you 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 you will be asked to provide a buyer’s deposit of €20,000, this being about 5% of the share price. This will be placed in the group’s bank account, and credited towards the purchase price on completion.

Option Holder Usage. Following payment of the deposit, as an intending purchaser you may if you wish commence usage of the property, as if membership has been completed. We allow this because there may be a period during which discussions are taking place with several intending buyers simultaneously. On this basis, once an option deposit has been received, you may use the villa for up to two weeks on a first come first served basis. If for any reason we are unable to gather enough interest for the share sale to be completed within the three months option period, and you then do not wish to extend your option, the deposit will be returned, LESS the standard commercial rental for the period used.

In the event that the syndicate subsequently does not proceed because of the withdrawal of the current owners of Villa Maricel from the scheme, this deposit will again be refunded, LESS the standard commercial rental for the period used. In addition, the current owners will compensate the would-be buyers for actual costs incurred, up to an absolute limit of €3,000 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 (0)1628 486350. On receipt of your completed registration, we will contact you to provide the video tour. Subsequently, on receipt of your introductory package deposit, you will be sent the Introductory Package containing

• Draft Membership Agreement
• Draft budget for the operation of the group
• Due diligence initial report
• 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
  

Interested in joining?

If you are interested in joining this group please click on the Register link.

Note: if having read this far, you are interested in the concept of private syndicate ownership, 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.