I need some advice...
I am planning to buy a small hotel in DR. Funding for this will come partly from a home I will sell in Europe (+cash) and partly from private investors.
The deal with the owner should be as follows :
Cash payment of about 10% of the hotel value + a contract allowing me use the hotel. (maybe a small rent associated to it)
Since selling my properties in Europe will take from 2 to 6 months, the remaining 90% of the hotel will be paid after that required period.
My questions are the following :
1/ Is such a usage contract feasable in the DR with the current owner of the hotel?
2/ The rest of the investors will require some contractual engagement before handing over their cash to beused for the global sale.
Is it possible to incorporate a company with clear indications of who owns what percentage of the company (depending on the amount of money brought in...) at the same moment as the official sale of the hotel?
For it seems a catch 22 situation. I need their cash to be able to buy the hotel, they want a signed contract indicating they are partly owner of the hotel to hand the money over...
Do they have to be included in the original sales contract with the owner?
Thank you for your help,
Best regards,
Rene Devleschoudere
I am planning to buy a small hotel in DR. Funding for this will come partly from a home I will sell in Europe (+cash) and partly from private investors.
The deal with the owner should be as follows :
Cash payment of about 10% of the hotel value + a contract allowing me use the hotel. (maybe a small rent associated to it)
Since selling my properties in Europe will take from 2 to 6 months, the remaining 90% of the hotel will be paid after that required period.
My questions are the following :
1/ Is such a usage contract feasable in the DR with the current owner of the hotel?
2/ The rest of the investors will require some contractual engagement before handing over their cash to beused for the global sale.
Is it possible to incorporate a company with clear indications of who owns what percentage of the company (depending on the amount of money brought in...) at the same moment as the official sale of the hotel?
For it seems a catch 22 situation. I need their cash to be able to buy the hotel, they want a signed contract indicating they are partly owner of the hotel to hand the money over...
Do they have to be included in the original sales contract with the owner?
Thank you for your help,
Best regards,
Rene Devleschoudere