FAQs about Fractional Ownership of Abaco Rose Casual Luxury Florida Vacation Home on Inlet Beach on the Stunning Emerald Coast in Northwest Florida

Frequently Asked Questions about Fractional Ownership in Abaco Rose, the casual luxury Florida vacation home in Inlet Beach, FL

Frequently Asked Questions about Fractional Ownership

Why Fractional Ownership?
Fractional ownership is the fastest-growing segment of the real estate industry today, and is increasingly being recognized by Baby Boomers in their top earning years as the right type of vacation home at the right price at the right time. The ‘Boomer’ group is particular about what they buy and why they buy it. Because many are still working and therefore time-short, they’re seeking a way to fit more fun into their lives. They aim to maximize the convenience and luxury of their vacation experience, while minimizing hassles. These requirements lead them inevitably to embracing fractional ownership.

Do I own the Real Estate?
Yes. Ownership is evidenced by a Warranty Deed for your Ownership Share.

How is title conveyed?
Your Ownership Share gives you a deeded, fee-simple title to your 1/13 Share in Abaco Rose and the land that it's on. You treat your Ownership Share like the valuable asset it is. You can pledge it for financing, sell it, or include it in your will for the benefit of your loved ones.

How is, and where is, my deposit held until closing?
Your deposit will be held in escrow by CLG Title & Escrow Services, LLC.

What are the advantages of owning a Fractional Share?
The Abaco Rose Ownership Group program has been designed to provide Owners with generous vacation use, remove the worries typically associated with vacation home ownership and significantly reduce the financial burden through shared ownership of Abaco Rose.

How often can I vacation in Abaco Rose?
Each Owner will have 4 weeks of planned vacations during the year, with one week in each season – Spring, Summer, Fall, Winter – on a rolling rotation. For scheduling see the Residence Calendar.

Can I exchange my weeks with other Owner’s weeks?
The Management Company will assist you in your quest to exchange weeks, and if possible, facilitate the exchange.

Is this a timeshare property?
No. You own your 1/13 share in Abaco Rose. In a typical timeshare, you do not have ownership interest.

Can I transfer ownership of my Share in my will?
Your Ownership Share is a valuable real estate asset, and as such you have the power to share it with future generations. You can pass it along to your loved ones and include it in your will, allowing family to continue to create fond vacation memories for years to come.

How many Owners in Abaco Rose?
There are 13 Ownership Shares.

Can I buy more than one Ownership Share?
Yes, you can buy as many Shares as you like. Discounts are available for multiple Share purchases.

Can I buy a fractional interest with someone?
Yes, you can buy an Ownership Share with a friend, business associate or a family member.

Can more than one family share a single Ownership Share?
Yes.

Do Owners pay quarterly fees?
Yes. The quarterly assessments pay for the professional management and day-to-day operation of Abaco Rose. Included in the fees are funds for management, scheduling, supplies, maintenance and repairs, legal/accounting, utilities, replacement reserves, insurance and taxes. Read about quarterly assessments and the 2008 Operation and Maintenance Budget.

Who establishes the fees and controls the affairs of Abaco Rose?
The Owners Association, with advice and guidance of the Property Manager, controls the fees, approves the Budget, and makes necessary decisions. The Manager is responsible for the ongoing day-to-day operation and budgeting of Abaco Rose. The Owners will receive audited financial statements annually for the operation of Abaco Rose.

How is the Property Management Company selected?
The current Property Manager was selected on the basis of experience, reputation for good service, and price. The Owners Association may at any time vote to make a change in the current arrangement.

What is the quality of construction, furnishings and accessories?
Abaco Rose was chosen for its top-quality construction and superior location. It was built by Randy Ledman, a premier homebuilder in the area (his company has been named Builder of the Year an unprecedented five times), to the highest standards. It is completely and elegantly furnished, including high-quality entertainment equipment, appliances, accessories and fixtures.

Do Owners pay any other charges when they stay in Abaco Rose?
Departure housekeeping is required and billed on an hourly basis. Any Concierge services or purchases are billed at departure.

Can Owners rent out all or a portion of their time in Abaco Rose?
Yes, subject to rules and regulations designed to maintain and protect the luxury status of Abaco Rose. The Management Company handles all rentals, including Owner-generated rentals.

Are unaccompanied guests allowed?
Yes, unaccompanied guests may occupy the home subject to the rules and regulations of Abaco Rose.

May I smoke?
For the comfort of all Owners, and to maintain the condition of the property, smoking is not allowed within any area of Abaco Rose.

May I have pets?
Owners will collectively decide if Abaco Rose is pet-friendly and establish a special set of rules and conditions regarding their pet’s access to the property. Currently Abaco Rose is a pet-friendly beach home (dogs weighing less than 35 pounds are allowed).

Is there a place to leave my things?
Locked storage for each Owner’s towels, linens, pictures, etc. is provided in Abaco
Rose.

Are there concierge services available to me?
The Property Manager will act as your personal concierge. Prior to each Owner’s arrival, the Manager will be certain the toiletries and linens are well stocked. At your direction, for an extra fee, the Manager will stock the fridge and kitchen with your favorite foods and beverages, arrange fresh flowers, and even make reservations at local restaurants and golf courses, or obtain tickets to local sports or cultural events. At your direction, the Manager will make sure the air conditioning is set at your favorite temperature, have your personal framed photos placed right where you left them on your last visit, instruct the housekeeper to store your linens, towels and other personal effects for you in secure storage, and put them back in the home before you arrive.

What about damage to Abaco Rose during the time allotted to me?
Should an Owner damage the property, or any of the furnishings, fixtures or equipment, they are independently charged for the repair or replacement.

Can I sell my fractional interest?
Your Ownership Share can be resold by you or a licensed Realtor, subject to the declarations and bylaws.

Can I finance my Ownership Share purchase?
Yes. For approved buyers, we will provide financing for your purchase – with a minimum of 20% down, at 9%, amortized over 5 years. Most owners will however, either pay all cash, or opt to pay for their share with equity from their primary residence, using a line of credit. Learn more about financing your purchase.

How do I purchase my Ownership Share in Abaco Rose?
You may telephone: Sandi Anders 615.243.5693 David Yarian 615.298.4559

Or email: AbacoRose@gmail.com

See our Fractional Ownership Resources page!

These materials are furnished to provide general information. The presentation is for discussion purposes only, and does not constitute an offer to sell. An offer to sell a fractional interest will only be made with documentation specifically indicating that it is an offer to sell.

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