Q: What do I actually own as part of my condominium at Jacaranda Beach Villas?

A: Your ownership includes the condominium space within your specific unit and an undivided interest in the building’s common elements. TradeWinds will continue to own the ground floor of the building and use it for hotel operations purposes. The legal term used to describe such an arrangement is an “airspace condominium”, a concept which is common in mixed-use development.

Q: Do I own a fee simple condominium interest in my Jacaranda Beach Villa?

A: Yes, you own 100% of your Jacaranda Beach Villas unit and appurtenances thereto with rights and privileges provided under the condominium documents and local zoning.

Q: Can I rent my Jacaranda Beach Villa condominium unit?

A: Yes, in fact the local zoning ordinance requires that your unit must be offered for rent. Currently, all 288 units are participants in the TradeWinds Rental Program. This is a long term rental agreement between each unit owner and the TradeWinds Resorts. Under this rental agreement owner’s personal use is limited to 28 nights a year, subject to certain restrictions. The TradeWinds Rental administrator can provide details of this agreement to you.

Q: Can I resell my Jacaranda Beach Villa unit when I wish without any restrictions?

A: Yes, like any other fee simple condominium ownership, your unit can be offered for resale at your sole discretion, subject only to contractual restrictions you might have agreed to. It is intended that an onsite real estate office will be located at TradeWinds to serve you. You are also free to choose any other real estate broker.

Q: What other rights do I have as part of my purchase of a Jacaranda Beach Villas condominium?

A: Under the Amenities and Facilities Access Easement Agreement, you have certain rights to use of parking, main pool and decks and beach access as well as other rights under the agreement. Certain rights can never be taken away, although the actual amenities will be owned by the owner of the TradeWinds Island Grand Resort and shared with resort guests.

Q: Are there other costs associated with ownership?

A: Yes, to maintain the condominium, payment of a condominium association fee is required. This fee is based on the size of each unit and covers all costs of operating and maintaining the condominium association. Separately, property taxes, and contents and general liability insurance on individual units will be the responsibility of the unit owner.

In the event you remove your unit from the TradeWinds Rental Program at some point in the future, you will be required to pay an annual amenity access and easement agreement fee. As long as you are part of the TradeWinds Rental Program, this fee is paid by the TradeWinds.

Q: What financing options will be available?

A: Conventional Fannie Mae financing is no longer available for condo-hotels. Private financing can be found at higher interest rates and typically balloon (become due) in 5 to 10 years. Since the mortgage world has gone a little crazy with lots of changes, upon request from you, we'll explore options available at that time.

Q: Are the units fully equipped and ready for occupancy?

A: All units are sold fully furnished and equipped so that the buyer can begin enjoying TradeWinds vacations experiences immediately upon closing. There will be no need for the owner to have to deal with furnishing, decorating and equipping the unit.

Q: How can I learn more?

A: Call us at (727) 213-1452 or toll free at (877) 213-6611