How does the Formula Multisuite guarantee ownership of the purchased property?
The acquisition is sanctioned by a formal notarial deed, as with all real property negotiations. Hence, the purchaser becomes the legitimate owner of the specified chosen portion of real property with the guarantee that he/she shall have full access to it during the decided period of the year. As with all real property, this portion of property can be resold, exchanged, lent to friends, rented, left as inheritance, and so on.
Can the real property purchased be resold?
Yes, of course. Having purchased a specific property that is precisely identified - the act was sanctioned by a formal notarial deed - the owner can resell it just as he would any other property.
Can the real property purchased be resold with Domina acting as intermediary?
Yes, it can. Domina has a special office that evaluates each property and any resale process. If the owner decides to sell his property, he/she can freely decide whether to do so autonomously or whether to seek the assistance of the Domina office.
What are the envisaged payment options? Can the purchase be made in instalments?
As a rule the owner shall pay a deposit equal to about 30% of the value of compromise and he/she can then decide whether to divide the remaining sum into at most 60 monthly instalments, depending on personal requirements. The notarial deed shall be drafted after the last instalment has been paid.
From when can I make use of the property I have chosen to purchase?
From the time the new joint owner signs the acquisition precontract and pay a deposit, he/she shall be entitled to fully the use the property for his/her holidays, along with all the benefits offered by the Formula Multisuite.
Can I exchange my holiday period with another period in a different residence? And how can I do that?
Yes, of course you can. The option of a fair exchange is one of the strong points of the Formula Multisuite.
How can I exchange my holiday period?
Exchange can be made directly from the Internet by accessing the customer area of the web site www.domina.it, or by contacting the Domina Holiday Club for information about the many exchange opportunities both in other Domina Home facilities and internationally through RCI and Interval International, which are international daughter companies specialised in the holiday exchange sector.
What is Domina Holiday Club?
It is Domina’s department that manages and develops services, benefits and privileges designed for all Domina joint owners. Contact the office for all requirements by calling 02.55004595 or by sending an e-mail to holiday.club@domina.it.
Have I to pay something to go on holiday?
Yes, the R.H.R., which is the Rebate Hotel Rate. A significantly discounted price compared to the rates reserved for occasional customers.
What is the Rebate Hotel Rate (R.H.R.)?
It is the amount paid by joint owners to make use of their holiday period. The sum is specified in the bill of sale to guarantee high quality hotel accommodation, including daily room cleaning, ordinary maintenance of the property, porter and watcher service, gardening, assistance to bathers, miniclub service, evening entertainment, etc… The owner is required to pay the R.H.R. only if he decides to make use of his holiday period.
What happens if I decide not to make use of the holiday period I purchased without wishing to make an exchange?
Unlike other market solutions, the Formula Multisuite ensures the owner total freedom. If he/she decides not to make use of the holiday period and not to exchange it for another holiday, is enough to communicate its intention to use of the “no use- no pay” option. Hence the owner shall not be required to pay the Rebate Hotel Rate (R.H.R.), and the room, for that year, will remain in the hotel´s availability.
Who is in charge of building management, use and maintenance?
The real property asset that was purchased belongs to a hotel complex; hence, care, ordinary maintenance and the high quality standards are the responsibility of the hotel manager.