Buying process
Am I a 100% owner?
Yes. You are a co-owner and a shareholder in a company, and you sign a partnership agreement. From the moment you sign, the co-owners own 100% of the home and decide how it is run; VIVLA takes care of the day to day.
Because this is real ownership, you hold the deeds: you can buy and sell whenever you want, at the price you want.
Does it work like a normal property purchase?
Yes. The legal paperwork and the closing process are those of a standard home purchase, before a notary.
How many fractions is a home divided into?
Every home is divided into 8 fractions. One fraction is 1/8 of the home, around six weeks a year, and you can buy up to 4 fractions of the same home.
What are the stages of the buying process?
You reserve your fraction with a deposit. If the purchase does not go ahead the deposit is returned; if it does, it comes off the total.
After the deposit you can go through any legal questions with our lawyers, and the purchase is finally signed before a notary.
What are my annual maintenance costs?
They depend on each home and are usually between 3% and 5% a year of the price of the fraction. As a reference, for a fraction of €100,000 maintenance is around €300 a month.
Do I deal with the other owners?
The model is built so that you deal with VIVLA and never have to coordinate with the other owners. We do organise get-togethers during the year for anyone who would like to meet them.