StorylinesWhen are milestone payments due and what are the fees involved?
The initial reservation deposit is held by Storylines and is fully refundable. All subsequent milestone payments are due as outlined in the Deposit Agreement.
There are no legal fees or closing costs, but there are bank imposed fees.
Deposit and payment schedule is available along with a residence selection proposal through your residential adviser.
What we’re designing is not exactly a cruise ship which is more of a holiday hotel. It’s expected to have high occupancy at all times, high passenger traffic, frequent embarking and disembarking. The vessel we’re building a residence ship. It’s a home and a place of work. It’s got a longer life expectancy and it can have lower occupancy at times and have empty cabins at times. There’s a lot less passenger traffic and the design is completely different. The way that we’re approaching the materials is completely different. Normally you reference another cruise ship in the specifications for types of material and the quality of what’s aboard for the shipyard. In our case, we have actually specified exactly what we want for each unit because there isn’t a reference ship out there. We take inspiration from other ships but we’re actually designing this ship from scratch.
If a resident needs to sell their interest during construction, does it have to go through Storylines, and if the price has gone up, will the seller get to keep the profit, subject of course to transaction fees?
The unit cannot be sold prior to delivery.
As a precursor to securing funding, 20% is the industry standard for companies seeking investment capital to be able to demonstrate to potential investors that their business model is salient. In our case, the more committed buyers we can show, the more confidence this projects which allows for a long lasting fiduciary relationship between both parties.
Pricing is determined by residence size, location, and deck. To view all current availabilities and to secure your choice now, go to this link.
The $10,000 deposit remains fully refundable until completion of the Sales Purchase Agreement contract. With a limited number of global residences available, some options have already sold out.