Questions & Answers
DO I HAVE OWNERSHIP IN THE HOME?
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Yes, Ember Cove provides true real estate ownership through the purchase of a share in a property-specific LLC. The home is fully managed and tailored for co-ownership.
DOES THIS FUNCTION LIKE A REGULAR REAL ESTATE TRANSACTION?
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Yes. The paperwork and finalization process is similar to that of traditional home buying. We collaborate with local real estate agents and offer commission to buyer's agent
IS EMBER COVE A TIMESHARE?
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Ember Cove enables you to purchase, own, and benefit from a true property asset. In contrast, timeshares usually sell the right to use a set amount of time in a vacation home or hotel that is shared by numerous people. These units are often difficult to resell due to an oversupply and lack of demand. Ember Cove brings together a small group of co-owners to buy a share of a single-family home and have ongoing access. All the management and financial details of the limited liability company are transparent to the owners as part of Ember Cove ownership.
DOES MY SHARE INCREASE IN VALUE IF THE HOME APPRECIATES IN VALUE?
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Yes, as an owner, any equity gains realized belong to you
CAN OWNERS RENT OUT THEIR TIME ON AIRBNB,VRBO, OR SIMILAR SITES?
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No, renting out or listing on vacation rental sites is not allowed for Ember Cove owners. All guests must be registered to access the home.
IS LLC CO-OWNERSHIP A RECENT DEVELOPMENT IN THE REAL ESTATE INDUSTRY?
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Co-owning real estate through an LLC is a well-established practice. However, managing an LLC on your own can be challenging, particularly when personal relationships are involved. Ember Cove offers a fully managed solution for LLC co-ownership that eliminates the stress and difficulties associated with self-managing an LLC, by providing full management support.
CAN I KEEP PERSONAL ITEMS AT EMBER COVE?
Yes, every owner is allocated specific storage space for their personal belongings.
ARE PETS ALLOWED AT EMBER COVE?
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Yes, owners may bring up to 2 dogs to their home, with some restrictions.
IS EMBER COVE OWNERSHIP THE SAME AS TENANCY IN COMMON?
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No. Ember Cove ownership is structured through an LLC. Owners buy shares in the LLC that holds the deed to the property. The LLC structure offers security, confidentiality, and versatility. A Tenancy in Common is a different ownership format with separate deeds for each individual owner.