# The Kapalua Club .... any deals with foreclosure?



## GregGH (Jan 27, 2013)

The old Ritz Carlton Club - now called .. The Kapalua Club  with 62 fractional units ... any  TUG'ers with any background info on what resales ( 1 month fraction ) have been like and where they may go ??

One site (http://www.luxuryrealestatemaui.com/maui-blog.asp) shows 567 fractions never sold ( approx 47 units of the original 62 ) ... and a majority of the full ownerships never sold ... 

Sure is a pretty part of Maui ( we can handle the extra rain ) ...

Any thoughts ?
Greg


----------



## RichardL (Feb 23, 2013)

I toured the units.  But with so many unsold units, it is a very high
stakes gamble.  What really scared me initially was that the developer has no financing in place with a local bank.  You paid a fortune upfront in cash or found your own lender.  That was before the project tanked and once that happened you are faced with the problem that with such a high maintenance resort and few owners, with a financially bk developer, something has to give or someone has to pay more money.


----------



## DavidnRobin (Mar 11, 2013)

I have a colleague who bought here when they first came on the market.   What is the situation for Owners?


----------

