Fractional Ownership Frequently Asked Questions
How much do fractional shares at Plaza Tierra Pacifica cost?
We are offering fractional shares for $50,000 for ¼ ownership interest in 2 bedroom, 2 bathroom condo.
How is ownership conveyed?
Owners purchase one or more 1/4th ownership interest, which is evidenced by a real estate title, recorded in county records and insured by a title insurance company. Your undivided deeded interest in one of the fully furnished residences at Plaza Tierra Pacifica can be mortgaged, willed, sold, placed in trust or owned by an LLC.
How does this differ from a regular timeshare?
The key difference is “Ownership”. Your fractional purchase conveys an ownership interest that is directly tied to a specific Condominium, it is not a membership in a club. As such, fractional ownership offers the prospect of appreciation in value in the event of a resale. There is also a pre-set number of shares (4) per Condominium, so neither your time nor the value of your share can be diluted by overselling.
What are the advantages of vacation ownership at Plaza Tierra Pacifica?
You can own your portion of a fully furnished beautiful condo in an exotic vacation destination for a fraction of the price that you would for full ownership of a unit. The fractional structure is designed to provide generous and flexible vacation use while removing the significant financial burdens and maintenance hassles typically associated with international second home ownership. The property and the associated common areas and amenities are professionally managed and maintained, so that owners can enjoy a relaxing, worry-free beach vacation.
How many days per year do I get at Plaza Tierra Pacifica?
One of the biggest benefits of fractional ownership at Plaza Tierra Pacifica vs. other fractional resort destinations is that each condominium here has only (4) fractional shares. That means that you are guaranteed at least 13 weeks per year to use or rent out your condo. Compare this to the typical fractionalization of (8-12) shares per vacation home or condo unit at competing projects and you can quickly see the value in purchasing at Plaza Tierra Pacifica.
Who typically buys fractional properties?
Fractional real estate ownership is ideal for families, snowbirds, retirees, busy professionals and anyone who wants the benefits of owning a vacation property, complete with management services, located in an exclusive tropical community by the ocean, without the higher costs and responsibilities that come with a wholly owned second home.
Fractional ownership at Plaza Tierra Pacifica is sensible and affordable way to purchase a vacation property for those who don’t need to own a full time vacation home because of their of projected limited use.
Can I buy more than one share?
Yes, you may purchase as many shares as you like in order to to allow you and your family more frequent use of the property.
Can my ownership be re-sold?
Yes, most definitely. Like any other form of real estate, your fractional interest in a condo at Plaza Tierra Pacifica may be resold, transferred, or bequeathed.
Can I rent out my unused resident weeks?
Yes, you are welcome to rent out your property. Our professional management company would happy to assist you with rentals. You can also rent on your own, we just request that you inform us of who will be staying in the condo should you elect to handle it yourself.
Can I exchange my scheduled weeks with another Co-Owner of the property?
You may exchange your scheduled weeks with any other Co-Owner to reserve your use of the vacation condo when it better fits your schedule.
Are my unaccompanied family and friends allowed to use the home?
Yes, your family and friends are welcome to use your reservations. Our only requirement is that management is given advance notice along with contact information for your guests.
Are there annual homeowner association fees?
Yes, ownership dues pay for the professional management, maintenance and operation of the residences and facilities. There are no developer commissions or fees associated with the HOA dues. These fees are shared equally between the owners and are thus significantly lower than you would pay for a wholly owned vacation home, and every dollar collected goes directly to the benefit of Plaza Tierra Pacifica’s fractional owners.
What are the estimated homeowner association fees?
The ownership fees for each fractional share are based on the prorated square foot size of each individual Condo. Currently these fees are $1200 per year for a 1 bedroom and $1500 per year for a 2 bedroom.
What onsite amenities are available to Owners at Plaza Tierra Pacifica?
Plaza Tierra Pacifica was constructed with convenience in mind. Commercial space on the bottom floor currently houses a bilingual welcome center, a doctors office, a veterinarians office, an insurance provider, a restaurant and a supermarket.
Additional onsite amenities include:
- 2nd and 3rd floor elevator access
- Outdoor shower
- Large private pool
- Detached private garage and storage units
- Lush landscaping and tropical setting
- 24/7 private security, gated entrance
- Concierge services available
Can’t I just find a property to purchase it with my friends?
Sure you can, however, with fractional ownership you don’t have to convince 3 other people to buy a share in your dream vacation home, which can be quite difficult. Beyond that, you would need to prepare a comprehensive set of operating by-laws, CC&R’s, rules and regulations, as well as all of the legal documentation for purchase and shared ownership. Instead, with fractional ownership you can just make your own decision to own a hassle free share in a vacation condo. Further, we take all of the work and risk out of the equation by building the condo, furnishing it, appointing the property manager and maintenance professionals, preparing all of the legal documents correctly, and marketing the property to just 4 exclusive owners.
