Thursday, February 12th, 2009

Good Question!

What you own:

Of course, homeowners who purchase their villa's own their property. This is defined as the airspace inside of your Villa. This is typical of Condo projects.

What you don't own:

Unlike other condo projects, we don't own the public areas such as the pools, fitness center, beach bar, etc. This is owned by the developer, Centex. Jeff Stone, owner of the Ko Olina Resort has first right of refusal to purchase these common areas. I have not figured out all of the repercussions and angles of this provision. If there are any lawyer types out there who have purchased or are thinking about purchasing, I would welcome your thoughts.

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Please allow me to represent you as your buyers agent on selection day. There is no cost to you and your purchase price is exactly the same. What you select and how much you pay will make a big difference in your profitability; both from an appreciation standpoint and if renting, covering expenses. Afterwards, we can also work together to "get heads in beds".

(All of the thoughts expressed in this blog are my own personal opinion, they are no guarantee that you will achieve similar results, it's just me sharing my own experiences and what has happened in my own situation. I cannot know what will happen in the future.)