Explanation

Step by step

A big commitment like a shared holiday home or boat is not something to make in a hurry.  Our processes avoid rushing you into anything by taking things one step at a time..  

  • Registration

The registration forms on this website allow you to tell us what sort of investment you are looking for, whether it be a holiday property on the French Riviera or a canal boat in East Anglia, or a yak-herder's hut in Tibet.  Registration carries a nominal, refundable charge to eliminate time-wasters and requires no commitment on your part. 

We compare your registration with other entries in the database to identify a group who are looking for the same sort of thing.  At this stage we can just compare general objectives, specifics come into play at a later stage.

  • Negotiation

Once we have found people with a similar vision, we can start putting together your OwnerGroup.  Once you have confirmed you are interested in going on to this stage we ask for a payment of £100 to show all are serious - we don't want your hopes to be raised by others who are not. In return we send you a number of documents, including a draft"Shareholders' Syndicate Agreement", and we know who your possible co-owners are. 

This is a formal business document that covers all the subjects which need to be agreed between the members such as Share-holdings, Capital and Running Costs, Voting, Share Sale and Transfer, Meetings, Budgets, and Disposition of Assets and Profits. We encourage you to show it to your lawyer or other professional advisers if you wish, to ensure that everything which you would want to see covered is dealt with. 

Once you have discussed this draft agreement, and hopefully even met the other potential members of the group, we can produce a final agreement tailored to your group's wishes.  During this stage you will have a dedicated private area on this website where you can discuss issues and download all the relevant documents.

Once this stage is reached you will have formed your group and we can start finding exactly what you are looking for. Even at this stage the only significant commitment you will need to make is to cover actual external expenses that the OwnerGroups Company will start to incur on your behalf.  To cover these costs you will be asked for a deposit of £1000 (approx US$1300) which is placed in a separate Client Account in the name of your group. 

We use these funds to cover the cost of setting up the group's legal identity and for our asset search.  We report back to you with each prospect we find, making full use of video and photos, and including our cost estimates, so you can get a real feel for it.  In preparing our reports and cost projections we take account of the fact that some members might decide not to continue - we try to avoid an unpleasant surprise for the rest if it does happen.

You can then consider these recommendations, decide whether you wish to proceed and hopefully decide to purchase!  If you decide not to proceed beyond this stage, your commitment is limited to your share of the costs actually incurred up to that point, the balance of the client account is returned to you.

  • Completion

Once you have reached a final decision, The OwnerGroups Company completes the negotiation and purchase formalities on behalf of the group. Our legal associates do all the checking and searches for title, and The OwnerGroups Company acts as your agent until the transaction is complete and the asset is handed over to you.

During this Completion stage, we can also make any special arrangements your group may require; for example, if a property is situated in a location where a car is essential for convenience and enjoyment, you may decide it would be more economical to have your own group vehicle rather than have each member individually rent one or drive it from home; we can arrange the purchase or lease of a suitable vehicle.

The same applies to any other special facilities such as sports equipment; the group decides what it wants, and the OwnerGroups Company arranges it. Our task is to provide the group with their dream-come-true, resulting in the best possible facilities at minimum cost to each member.

  • Administration

Once your group is established and enjoying the use of its asset, we can help with the day-to-day running of the group.  You will have your own private section on this website where you can keep up to date with the latest news about your asset. You agree who uses it when; you can view current financial details of your group and use a forum facility to chat with the other members, regardless fo where they actually live.  Costs for this service can be found on our 'small print' pages and will be fully laid out when you form the group.

Existing groups and "current owners".  

One other option open to you is to join a group that has already formed or to buy a share in an existing asset, whether that be from someone selling their own share or from someone who owns something that they wish to divide into shares.  Whilst this means your choice is somewhat limited it does mean that you will be able to enjoy it much more quickly!  Our 'What's Available Now' section has full details of what we currently have to offer.

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