I n a desire to be transparent with all our potential clients we have taken the top questions that potential investors should be asking a company about their development. These questions come from a publication by   , the leading independent source of objective information for the fractional ownership industry.

 

1. Is the property offered ‘deeded property’?

Yes, the property deeds are owned by a UK based company.

2. What fraction of ownership is being offered?

A 1/10th fraction - giving 5 weeks ownership of the property you choose.More than one fractional share may be purchased.

3. Are the weeks offered fixed or variable?

The weeks are reserved each year, on a rotating priority basis, ensuring that 2 of the weeks are always available in the peak season. For more details see the Residency section .

4. Is the building completed yet?

Casa Giacomo is now ready for occupation. Casa Leopardi is planned to be restored in 2011.

5. How many price increases has the development had over time?

An increase took place on the 1^st May 2010 to £99,000.

6. Exactly what does ownership include?

The answer is clearly explained in the ‘ Fractional Ownership’ section.

7. May I see a printed list of the fees you charge?

  There are no application fees and the annual service charge is explained in the ‘ Property Management and Annual Service Charge’ section.

8. If finance is required, how do you recommend I finance the purchase?

Potential owners may be able to raise finance externally but recommend you speak to an independent financial advisor. 

9. How long has the company been operational?

Appassionata Ltd. has been operational since 2004.

10. Can I visit the property before buying a fraction?

Yes, we would strongly recommend an inspection trip as soon as possible. We are offering a special invitation to visit the Estate in Le Marche to those who are seriously interested. Please visit the Visit Us page.

11. If I decide to purchase a fractional share in a property, can I change my mind: if so, by when?

Yes, of course you may change your mind. We allow a 14 day ‘cooling off’ period after we have received your completed application form, just in case you should change your mind.

12. What is the process if I wish to sell my fraction in the property at any time in the future?

You are free to sell your fractions at any time at a price that you agree with the purchasing party. Membership for re-sale must first be offered to existing Members. Appassionata will also assist owners in the sale of their membership if they desire. There are a number of specialist companies who sell Fractional shares.

13. How does one book for popular holiday periods e.g. school holidays, and what booking system is in place e.g. first come, first served and is there any priority amongst owners?

You will get an opportunity, on a rotating priority basis, to book these periods, and you can always exchange weeks with other owners and the service weeks held by Appassionata. See the section‘ Residency’.

Your weeks can be exchanged with co-owners, exchanged through the Fractional Exchange.com, used by friends and family or rented to a third party.

14. Are there any additional fees in addition to the fractional property purchase?

No, all costs associated with the purchase are included. This excludes any costs incurred with your own professional advisers.

15. Does the company have plans to raise prices – if so, when and by what rate and what factors would influence such price increases in the future?

Yes, Appassionata has positioned its initial fractional purchase costs at a very competitive price. It is intended that these prices will increase over time to reflect the true value of the development.

16. Are photos and floor plans available for the properties and are there any ownership rules – e.g. are pets and is smoking allowed?

Photos and plans are available on the website.

House rules will be made available as part of the application process, two important rules though are that pets cannot be accommodated and smoking is not allowed inside any of the properties.

17. What other amenities can I expect at the resort?

The Estate Giacomo Leopardi has an all weather tennis court (with basket ball net), large swimming pool 15m x 6m, a newly planted vineyard, olive groves, lavender plantation and wonderful gardens. The website has details in the Property section.

18. Who owns the properties at present and what happens if the property company fails?

The property is owned by a UK registered limited liability company. It is a non trading company and has been established to operate the estate on behalf of all its members. The cost of the development and purchasing the land has been funded by Appassionata Ltd through an inter-company loan and is repaid as fractions are sold. There is no external funding for this project.

19. What do you believe are the strengths and weaknesses of the company and properties available and why should I ultimately buy this one in comparison to the choices available?

You will now see increasing choice for Fractional Property in Italy. The two properties on the Estate Giacomo Leopardi are beautifully positioned, with sea and mountain views. They are located in the wonderful region of Le Marche where there is a tremendous combination of history, culture and leisure activities. This is real Italy, where many Italians take their annual holidays.

The quality of the construction, interior furnishings and facilities reflect a truly luxurious proposition.

Appassionata is not only the developer but the provider of the property management. We will provide on-going management support for as long as members are happy with the service. We are a small boutique business, not a large faceless commercial organisation.

Our pricing structure reflects tremendous value and is hard to find in an equivalent development. Come and see for yourself.