Buy a share in a property???

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17 Jul 2009 00:00 by Robert H Star rating in Marbella. 63 posts Send private message

This is a concept loosely based on time share, but you end up with owning a share of a property on title deed.

Beware! Where reputable timeshare complexes has good all year round maintenance, you will have to share this through up to twelve other owners. Also, it is virtually impossible to sell a share of a title deed on, or get a mortgage on it. If some other owners default on their community fees, you will have to pay their share, if not, the whole property will be embargoed. If the users before you left the place in a real mess, what can you do? Spend the first couple of days of your stay cleaning up. You cannot do anything against another equal share owner and what he does in his property. Etc etc.

There are so many risks involved in the future by buying this type of property, it is really not worth it. If you cannot afford a property outright, over which you have complete control, come over on your holidays and rent a nice apartment as rentals are very cheap right now and will be for a while.

Robert H Marbella

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