# Any Village Resort Australia owners?



## Linda74 (Nov 6, 2007)

We purchased here a few years ago to add to our RCI points account.  The resort  then left the points program but allowed those in it to remain if they paid their maintenance fee (levy) three years in advance.  We have done this and sometimes had to stay on RCI Pacific to deposit the points.  Anyway, today we received information concerning their annual meeting and it looks like they will be voting whether to sell the property and disband the club (they estimate owners will get about $7000 to $8000 Australian, or they will invest considerable money into fixing the lagoon and other repairs.  So, just wondering how owners will vote.  I am leaning on the sell side because it would be a profit from what we paid and eliminate the hassle of paying the maintenance so far in advance.  I do hope that if they sell they return our 2009 maintenance fee.  Anyone else out there made up their mind how they will vote??


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## Fern Modena (Nov 6, 2007)

I haven't gotten any info on it (how did you receive it), but at this stage of my life I'd vote to sell, too.  Unfortunately I've just paid my dues...

Fern


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## Linda74 (Nov 6, 2007)

Hi Fern
We actually purchased based on your postings a few years ago .  The information came in a large brown envelope by US post today.  I would imagine yours will come any day now.....  Yes, I think selling is the way to go and we would actually make a little profit!!!


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## Linda74 (Nov 6, 2007)

Just had an email from Village Resort in response to an email I sent them.  They said no one will know what will happen til after the meeting on Nov. 30 and that should the decision be to disband the club it will take 3 to 5 years...


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## JanB (Dec 22, 2007)

We've received notice from Village Resort that the members voted to sell rather than to have a special assessment for major repairs on the lagoon.  The resort will stay open for however long it takes to sell.  The only part of the resort that will be cordoned off is some areas of the walking path around the lagoon, but the lagoon is safe to use.

Hopefully it won't take too long to get the property sold.  I will, however, miss having the points in added to my RCI account.


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## Linda74 (Dec 23, 2007)

How were you informed??


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## Sydney (Jan 4, 2008)

I just found this thread after posting over in TS4ms.

I can't believe I didn't even know this was in the works. I only got the Christmas letter giving the result of the vote outcome yesterday as had been away for a few wks.


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## aztex (Jan 8, 2008)

We received notice in the Fall along with a ballot on the measures to be taken at the meeting.  The assessment to fix the lagoon was small so we voted in favor of that due to the points we receive each year.  Then, if the assessment did not pass, we voted to sell.

They have been very good about keeping us up to date so not sure why so many are not receiving the information.

At least we will have another few years of points, but we will sure miss them when they are gone.  This has turned out to be like another Royal Resort scenario only we never had the agreement as with the Royals.

Sounds like a very fair process so far.


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## aztex (Jan 23, 2008)

I have now received a letter and a phone call from Australia regarding the potential resale of Village Resort.  It appears that there is a group of stockholders in Australia very concerned that deals are being made or considered by members of the board with potential buyers of the site that would not be of benefit to shareholders like ourselves.  It seems that cloudy skies are on the way.

I just wanted to note this to let everyone know that they should receive a letter from this group with a fuller explanation of the situation and what they hope to do about it.  No address was included in the letter but here are a few email addresses that can be contacted for further information.

strong@ozemail.com.au mike@priestleysarchitects.com.au

bob.haynes@bigpond.com


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## Scott Graham (Mar 1, 2008)

I am also an owner and have generally been quite satisfied with the bang for the buck, even as the value of the dollar has dropped.  Somewhat ironically when I recently prepaid next year's levy, not only were the 2008 Points released, but a Village Resort week was placed in my Weeks account (which I never use anymore).  I emailed the resort and talked with RCI and basically they both said "Count your blessings."  Which I try to do everyday.   So I have an extra week to be used.

  I presently am in Sint Maarten on an exchange.  It could be worse.

Scott


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## Scott Graham (Mar 1, 2008)

Linda74 said:


> We actually purchased based on your postings a few years ago .  The information came in a large brown envelope by US post today.  I would imagine yours will come any day now.....  Yes, I think selling is the way to go and we would actually make a little profit!!!



Linda:

  How much did it say that they thought the shares would sell for?

Thanks
Scott


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