Legal Process & Next Steps

How does it work?

With a fractional second home you’ll purchase a deeded share of your chosen slice of paradise. You have the right to use the property for a certain number of weeks or months each year.

  1. To start the process, first select your lifestyle preference from the eight lifestyles offered. (Sand Castles, Walk to the Beach, Dock & Davits, Deep Water Slips, Poolside Paradises, Amenities Galore, Small & Lovely, Got To Golf) Then, contact us by email or phone, and let us know if you have any particular needs or requests. Within each of the lifestyles, some new properties are shown as examples, and new ones may appear.
  2. Review the current offerings available in your lifestyle preference in our Portfolio of Waterside Homes.
  3. Identify your fractional selection and we’ll send you the appropriate reservation package and necessary forms…just use the “contact us” link.
  4. The information you receive will include the earnest money requirement for the offer and contract reservation requirements. When you receive the complete information about your selection and the reservation requirements, please review carefully with your advisors.
  5. You’ll be buying a specific annual time period when you purchase, assuring you control of your schedule. Some exchange may be possible with your co-owners, depending on your chosen location. Global exchange networks may also be available, depending on your choice.
  6. Select your method of purchase, whether cash or financing, and let us know. This is when 5% is sent to the closing agent or Title Company to confirm your reservation and set a closing date. We’ll coordinate the purchase with the title company or closing attorney and your co-owners, with each owner buying their slice from the local owner/manager. Your ownership will be evidenced by a deed to real property.
  7. To  buy a fractional, you pay a one-time purchase price and then a yearly upkeep fee that covers all of the expenses associated with property ownership, its use and services.
  8. A common practice in recent HOA documents is that after five years the owners often will have the opportunity to sell, with group consent, and then have the right to reinvest in something else. This may vary by property. Co-owners usually have first right of refusal.

Where do closings occur?

This will depend on your method of financing. If you’re paying cash, your funds can be deposited into the escrow account of our local title company or attorney. In this case, closings can be handled securely by mail or fax both nationally and internationally, and you do not need to be present.  If you’re from a state other than Florida and using a mortgage to finance a portion of your purchase, the fractional lender must be licensed both in Florida and your home state. In most cases you would need to be present at the closing. If your home country is outside the U.S. and you are buying in Florida, we will assist you with a currency exchange provider with industry-leading standards in security, reliability, and speed. This ensures that your funds are fully protected, are at the best international exchange rates, and you’ll find that the transfer costs are much less than those of a bank.

What’s the legal process?

All MWSH owners can be reassured that documentation to protect their investment and future lifestyle will be used throughout the purchase and ownership period to protect them and all co-owners. The heart of an owner’s rights and responsibilities is contained in the Co-Tenancy or Home Owners Association Agreement for your fractional selection. Any property certified by MWSH has documentation protecting the individual owner.
Is it “Deeded” property?
Each owner receives an individually deeded slice of prime property.  A deeded property gives your investment a better chance of appreciation and allows you to bequeath or “will” it to a family member the same way you could a whole-ownership property, subject to first offering it for purchase by your other co-owners. An actual real estate investment comes only with true deeded ownership.

How does my fractional differ from a Private Residence Club (PRC) or a private second home club.

Most fractional owners prefer to enjoy the selected destination home annually, but access to an exchange company is increasingly being offered as a benefit of fractional ownership. Owners of the higher priced PRC units usually own a diversified property portfolio and have access to all the residences, such as mountain properties, city properties, and beach or golf destinations. There are also an increasing number of adventure, cruise, and journeys clubs.

How does my fractional differ from a condo hotel?

While some fractionals may be similar to condo hotels in that the owners know their purchase can be put into a rental pool when owners are not using the property, your home with MWSH will never have tenants in the property unless all owners agreed to a rental concept instead of the purchase being exclusive to other property owners or their guests during their specified time. Also, the maximum floor space permitted in a condotel does not meet the minimum criteria acceptable for a MWSH fractional home. Although some possibilities exist, condotels have proven to be difficult to resell if financing is needed.

To sum it all up, look at the benefits when an expensive asset is divided into percentage shares:

  • It’s an alternative for individual owners who want second home ownership but wouldn’t use it for more than a few weeks a year
  • You get ownership, use, and the luxury of an expensive home without tying up anywhere near the dollars necessary for whole ownership.
  • You get a beautiful second home, tastefully furnished, where families can gather for special occasions and family times.
  • You could give a nice present of a week at the house for your children’s anniversary or birthday.
  • Your corporation can give the use as a bonus or incentive to a deserving employee.
  • You can relax because someone else is dealing with management details.
  • If you choose a single family home, MWSH-selected and bonded staff will perform all exterior maintenance on a regular basis.
  • If you choose a condominium, an on-site professional management company takes care of all maintenance issues
  • With a fractional, you don’t have to worry about maintenance, repairs, or other ownership responsibilities that can get overwhelming with your lifestyle second home. All of these services are included in your annual maintenance fee, which is similar to membership fees paid by those who belong to a homeowners association or gated community. 

Are you ready to reach for Paradise?

Three ways to participate –

            You may be a buyer ready to look for a second home

            You may know a friend or client who’s ready to buy a second home

            You may wish to gather some friends from your neighborhood, or your place of worship, or your club, with whom you’d like to share a vacation home.


 Begin your adventure with fractional ownership.  Call Marge Coffing at 727.210.5905  or simply fill in the contact form below for prompt attention.

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