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"If you love Italy, you are already part of our family. We will help you make your dream come true."
If you bought an entire Italian vacation home for your personal use, you already know that it would stand empty most of the time and that you yourself would have to pay all of the property management and maintenance expenses even when you aren't in residence.
The smarter alternative, Divviso's co-ownership strategy, enables you to buy and enjoy a far more wonderful Italian vacation home than you ever thought you could afford. For example, if your budget is $200,000, you don't have to settle for buying all of a cozy one-bedroom, one-bath apartment in a little Italian village that you would use for only a fraction of the year while still assuming 100% responsibility for the property's management and maintenance expenses. Instead, your $200,000 would buy 10% of an amazing villa worth closer to $2 million, with four bedrooms, four bathrooms, a swimming pool, vineyard, and a panoramic view of a distant Italian hill town. As 10% owner of the villa, you would enjoy exclusive use of the property for five marvelous weeks every year. Moreover, your fellow co-owners would pick up 90% of the property's management and maintenance expenses.
And, when the day comes that you want or need to move on, Divviso can sell your co-ownership interest for you as easily as you can sell any real estate property, at its then-current market price.
Enjoying your co-ownership share of a Divviso vacation home is virtually hassle-free. To ensure that your Italian vacation is as relaxing and carefree as possible, Divviso's Italian team takes care of just about everything from housekeeping, gardening and cleaning the pool to fixing the hot water heater or a sudden leak in the roof.
And once you purchase your Divviso vacation home you will automatically become a member of the exclusive Divviso Club which provides Divviso's co-owners with a cornucopia of customized concierge services enabling co-owners to immerse themselves in la dolce vita of their new Italian home away from home. Want a case of your favorite Italian wine waiting for you when you arrive? Need tickets to La Scala or the Vatican Museum? Considering your first ski trip to the Dolomiti or exchanging your Divviso vacation home in Tuscany for a Divviso vacation home in Venice? If you can dream it, the Divviso Club team can probably make it happen.
The bottom line? All you have to do is arrive at your Divviso vacation home and the fun begins! And when you depart, all you have to do is shut and lock the door. Divviso's team takes care of everything else.
Why buy a timeshare or a membership in a vacation residence club when you can OWN your share of a Divviso vacation home instead of merely the right to stay for a week or two in a property legally owned by some distant, faceless corporation? True ownership means that:
> You can share your vacation home with family and friends or exchange vacations with other Divviso co-owners throughout Italy.
> You can sell your co-ownership interest at any time or leave it to your children or other beneficiary of your estate.
> You have the potential for capital gains on your co-ownership interest which, according to one industry authority, is averaging 10% per year.
In short, you can do just about anything with your co-ownership interest that you could do if you owned the entire property.
Moreover, although Divviso assists in the management of the property, you and your fellow co-owners make all of the important decisions about the property, not some anonymous corporate owner.
Co-ownership is a mature real estate ownership option that has been used around the world for more than 100 years, so sharing an Italian vacation home is much easier than you might think.
Each Divviso property is governed by a comprehensive Co-Ownership Agreement which defines the co-owners' rights and responsibilities, spells out how the property management and maintenance expenses are divided, provides specific procedures to resolve co-owner disputes, and guarantees that each co-owner has fair and equal use of the property.
So, how do 10 co-owners share one property in a fair and equitable way? Unlike timeshares and vacation residence clubs, co-owners of Divviso vacation homes are not restricted to using the property for a specific period of time each year. Instead, Divviso's "fair use" sharing formula rotates use of the property among all co-owners so that each co-owner ultimately experiences the property in all seasons of the year. Divviso's online property booking system also provides flexible ways for co-owners to trade dates among themselves and deal with last minute changes in vacation and travel plans.
Divviso uses a common legal co-ownership structure that insulates co-owned Italian properties from Italy's outdated real estate laws and onerous taxes. Each Divviso property is actually owned by a U.S. limited liability company (LLC), and each 10% co-ownership interest consists of shares in the LLC rather than direct ownership in the Italian property itself.
The advantages are significant:
> U.S. legal protections: U.S. laws governing co-owned properties are modern, comprehensive and enforceable, so legal disputes between co-owners are adjudicated swiftly and fairly. In Italy, however, laws governing property co-ownership are often vague and weak, and the Italian courts can be quite slow and arbitrary in adjudicating disputes.
> Substantial tax savings: When an Italian property is sold, the Italian government collects a 9% transfer tax. In the U.S., however, transfer taxes are minimal. Consequently, when co-owners sell their U.S. LLC shares in a Divviso vacation home, rather than a deeded interest in the property itself, they save the 9% Italian transfer tax.
Purchasing and owning a vacation home in a foreign country - especially if you don't speak that country's language - can be an intimidating, time-consuming and costly ordeal. Fortunately, Divviso does everything possible to keep your Italian dream from becoming a nightmare.
Divviso's co-owner support team in Italy consists of multi-lingual native Italians with extensive experience in Italy's real estate, hospitality, and tourism sectors. As soon as you create your online Divviso Member account, you will be assigned your personal Divviso mentor who will answer all your questions, guide you through the fun of finding your dream property, and then help you navigate through all the details of your purchase.
Once you buy an interest in a Divviso co-ownership property you automatically become a member of the exclusive Divviso Club. So, for as long as you are a co-owner of a Divviso property, the Divviso team will continue to be your behind-the-scenes partner and problem-solver to ensure that your Italian adventure is a dream come true.
"But if, as morning rises,
dreams are true..."
DIVVISO IS...
AN ONLINE CO-OWNERSHIP MARKETPLACE.
Divviso has reimagined the entire experience of buying and owning a vacation home in Italy. By using advanced online technologies to leverage the many benefits of co-owning Italian real estate, Divviso can now make almost any dreamer's dream come true.
Divviso's powerful online co-ownership vacation home platform has been designed from the ground up to make it possible for foreigners to discover, buy, sell and enjoy co-owned vacation homes in Italy. Divviso's platform is the nucleus of an international partnership of real estate agents, property managers, financial and legal professionals, and tourism-related businesses that provide a wide range of services to enable foreign vacation home co-owners to immerse themselves in Italy's famous La Dolce Vita.
Like Airbnb in the vacation rental market, Divviso uses advanced online digital tools and solutions to aggregate a vast amount of information about the co-ownership Italian vacation home market, then makes that information available to potential buyers and sellers of co-ownership vacation homes in Italy.
Like the New Stock Exchange, which provides stock investment professionals with the digital information and solutions they need to buy and sell stocks for their clients, Divviso's online platform connects its network of professional partners with each other and with Divviso's vacation home buyers, sellers, and co-owners to enable and facilitate vacation home co-ownership transactions.
DIVVISO IS NOT...
A CO-OWNERSHIP REAL ESTATE BUSINESS.
Unlike Pacaso and most other vacation home co-ownership real estate businesses, Divviso does not attempt to own the entire co-ownership process from beginning to end.
Divviso doesn't buy properties and then renovate and resell those properties in co-ownership interests because we do not believe it is possible to guess what kind of properties vacation home buyers might be looking for or what custom renovations buyers might want to make to their own vacation homes. So, we leave those decisions to the vacation home buyers and co-owners themselves.
Divviso has no interest in being a property management company because managing a vacation home, especially one located in a foreign country, is a highly personal, highly local profession. So, we put our vacation home co-owners in the skilled hands of our local Italian property management partners who have decades of experience in providing the full range of property management and maintenance services that vacation home co-owners need.
Because the co-owners of a Divviso vacation home are the true and legal owners of the property, not Divviso, the co-owners themselves are entitled to make - and should insist on making - all of the important management, maintenance, financial and use decisions regarding the property. Divviso is always there to advise and assist co-owners as necessary, but the property's co-owners, with the professional advice and counsel of Divviso's Italian partners, make and implement all property management and maintenance decisions.
Divviso is Italy's premier co-ownership vacation home marketplace, but the buyers and sellers of co-ownership interests in Italian vacation homes actually "make" the market, not Divviso. As with normal real estate markets, the seller sets an asking price, the potential buyer typically makes a lower offer, then the buyer and seller negotiate the final price. Divviso's technology simply enables and facilitates the international negotiating and transaction processes.
Today, buyers desiring to purchase a co-ownership interest in an Italian vacation home have very few properties from which to choose. In all of Italy, it is estimated that, prior to Divviso, fewer than 25 high-quality vacation home properties have been properly converted into true co-ownership interests providing foreign buyers with sound legal protections and easy resalability. This scarcity of Italian co-ownership vacation home properties compared to the increasing demand for them has led to a seller's market where relatively few available co-ownership properties are commanding extremely high prices.
Conversely, throughout Italy there are thousands of wonderful vacation homes for sale of every size and type and at all price points. However, these days few vacation home buyers can justify buying an entire Italian property which will be used for only a few weeks a year, so this over-supply of entire vacation homes has created an unprecedented buyer's market resulting in historically low prices. Divviso's innovative solution is to turn one wonderful, low-priced vacation home into 10 wonderful, attractively-priced co-ownership interests by offering a unique real estate investment opportunity for investors who want to buy a vacation home in Italy and then convert part of the property to Divviso co-ownership interests.
To create Italy's first co-ownership vacation home marketplace,
Divviso offers two innovation types of vacation home co-ownership properties:
Invest to Share properties and Buy to Enjoy properties.
Divviso's unique INVEST TO SHARE co-ownership vacation home investment strategy is designed for potential buyers who love Italy and can afford to buy an entire Italian vacation home but who have not yet done so because they cannot justify the costs, hassles, and risks of owning an entire property in a foreign country that they would use for only a few weeks each year.
By taking advantage of Divviso's INVEST TO SHARE strategy, a buyer/investor is able to purchase the ideal vacation home virtually anywhere in Italy, then turn the property into an investment opportunity by working with Divviso to resell the co-ownership interests in the property which the buyer/investor is unable to use.
For example, if a buyer/investor decides to keep only one co-ownership interest (10% of the property with five weeks of use) and resells the remaining nine co-ownership interests (90% of the property), the buyer/investor typically recovers the entire original cost of the property. Consequently, the 10% co-ownership interest retained by the buyer/investor is essentially free.
Most of Divviso's BUY TO ENJOY co-ownership interests in a vacation home begin as INVEST TO SHARE properties. In the case of the above example, when the buyer/investor resells 90% of the property in co-ownership interests, 9 new BUY TO ENJOY co-ownership interests are created and made available for purchase.
Divviso's BUY TO ENJOY co-ownership vacation home properties are true co-ownership interests in co-owned Italian vacation homes. Typically, each BUY TO ENJOY co-ownership interest represents a 10% interest in the co-owned property entitling the owner of that co-ownership interest to use and enjoy the entire property for 5 weeks every year.
If a potential BUY TO ENJOY buyer falls in love with a Divviso INVEST TO SHARE property that has not yet been purchased, Divviso offers the potential BUY TO ENJOY buyer the opportunity to register the buyer's interest in purchasing a co-ownership interest in the INVEST TO SHARE property when a buyer/investor purchases the property and converts it to co-ownership interests. By expressing interest in a still-to-be-purchased INVEST TO SHARE property, potential BUY TO ENJOY buyers signal to potential buyer/investors of INVEST TO SHARE properties that certain properties are more desirable as vacation homes than others.
BUY TO ENJOY buyers who register an interest in INVEST TO SHARE properties are not obligated to purchase a co-ownership interest in the properties in which they have expressed interest, but they get the first right of refusal based on the date they expressed their interest. This "market-making" strategy works to the significant advantage of both the original buyer/investors of INVEST TO SHARE properties and the ultimate buyers of BUY TO ENJOY co-ownership interests.
Bel Paese means "Beautiful Country" in Italian. It is the classical poetic name for Italy first used by Dante in his 14th century masterpiece, The Divine Comedy. Today, Italians still call their homeland Bel Paese with the greatest affection.
For Bel Paese lovers everywhere, Divviso provides the online technologies and traditional real estate services to enable the buyers and sellers of co-ownership properties to complete co-ownership real estate transactions with the assistance of licensed Italians real estate agents.
Now, you are invited to explore all the amazing Divviso properties throughout Italy, from rural villas in the Tuscan hills to seaside houses in Puglia, from historic apartments in the center of Rome to ski chalets in the Dolomites. Somewhere in Bel Paese, Divviso can make your Italian dream come true.
Divviso Mentors are multi-lingual Italians trained by Divviso to provide highly-personal support to Divviso's clients both during the co-ownership purchase process and after the client becomes a Divviso vacation home co-owner.
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The Divviso Academy is a virtual encyclopedia of information about Italian vacation home co-ownership. If you have a question about co-ownership, the Divviso Academy almost certainly has the answer.
Divviso's international Joint Venture Partnership of real estate agents, property managers, tourism professionals, and legal and financial experts provides co-owners with comprehensive vacation home services.
Membership in the Divviso Club is an exclusive benefit for Divviso co-owners providing a cornucopia of bespoke concierge and tourism-related services designed to maximize every co-owners' La Dolce Vita experience.
Mr. and Mrs. Andressen both visited Italy for the first time in the summer of 1988, but back then they were two strangers whose youthful adventures started out from distant points on the compass. Having just graduated from their respective colleges, they had decided, like so many other students before them, to celebrate their freedom with a summer backpacking trip across Europe.
Each of the young travelers possessed brand new, unstamped passports because neither of them had ever before been outside of the United States, except to visit Canada which did not require a passport. And each of them had purchased Eurail passes entitling them to two glorious months of unlimited train travel throughout Europe.
On a cloudless morning in June, an excited Roger Andressen flew from Seattle, his hometown, by way of Atlanta, to Paris, where he had booked a...
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