Wouldn't it be neat if that unwanted timeshare went away--and they paid you for it?

[daverunfast]

I happen to know the Principal in the Egrets Pointe scenario and they are actively pursuing resorts in areas where the laws are favorable to executing these sunset deals. The HOAs are actively involved in making these things happen with the help of the outside company.

Where are they favorable? I'm in a handful of <100 member HOAs that own fairly valuable real estate.

 

[Larry M]

Where are they favorable? I'm in a handful of <100 member HOAs that own fairly valuable real estate.

Egrets Pointe is in South Carolina.

 

[Larry M]

Just an update...They are refurbishing the units one by one and selling them off. My week is in Unit 483, one of the last to be refurbished, but it is already under contract and will be closed in late February or early March. I'll post again when I get the check. I dug around and found the purchase settlement agreement. I'll post it when I get the check.

 

[theo]

I'm in a handful of <100 member HOAs that own fairly valuable real estate.

I am genuinely curious to know how / why / on what basis you proclaim this "<100" figure?

While not seeking to argue with this claim, I intuitively suspect that your figure may be extremely low. Just off the top of my head, I can think of about a dozen (independent) timeshare properties, none of them particularly noteworthy, on just a single 5 mile stretch of coast in SW FL where the real estate value of the property (albeit perhaps not as timeshares) is through the roof and likely escalating by the day --- and that's obviously just a very tiny geographic sample. What am I missing here?

 

[pedro47]

Egrets Pointe is in South Carolina.

Is this Egrets Pointe on Hilton Head Island or on Edisto Island?
Take the money.

 

[Larry M]

Is this Egrets Pointe on Hilton Head Island or on Edisto Island?
Take the money.

Edisto Island, South Carolina. About 40 miles from Charleston.

Not much choice about the money. We voted to disband early (Sunset date was first Sunday in January 2026). The only option was to bid on buying the unit--the whole thing, not a week.

 

[magmue]

I am genuinely curious to know how / why / on what basis you proclaim this "<100" figure?

@theo I think you are mis-reading the grammatical sense of the original statement.

I read: "I'm in a handful of <100 member HOAs that own fairly valuable real estate"
to mean "I belong to some small HOAs, small meaning less than 100 members - a few of those (like a handful) own fairly valuable real estate".

 

[daverunfast]

@theo I think you are mis-reading the grammatical sense of the original statement.

I read: "I'm in a handful of I]e"
to mean "I belong to some small HOAs, small meaning less than 100 members - a few of those (like a handful) own fairly valuable real estate".

Yeah, this. I'm in a few with less than 100 maintenance fee paying members remaining. They seem like good obvious candidates to sell off or turn into rental property, but that will take some change.

Sent from my Pixel 4a using Tapatalk

 

[theo]

@theo I think you are mis-reading the grammatical sense of the original statement.

I read: "I'm in a handful of <100 member HOAs that own fairly valuable real estate"
to mean "I belong to some small HOAs, small meaning less than 100 members - a few of those (like a handful) own fairly valuable real estate".

You are absolutely right, as now also confirmed by the OP himself in post #33 above. Quoted original post now makes considerably more sense to me. Thanks.

 

[Bwolf]

Not to steal the thread, which I find quite interesting, thanks for starting it, Larry M, but I am intrigued by the thought of any timeshare having less than 100 maintenance fee paying members, daverunfast. How do they survive?

 

[dioxide45]

Not to steal the thread, which I find quite interesting, thanks for starting it, Larry M, but I am intrigued by the thought of any timeshare having less than 100 maintenance fee paying members, daverunfast. How do they survive?

That would have to be a property with only a handful of units.

 

[pedro47]

Edisto Island, South Carolina. About 40 miles from Charleston.

Not much choice about the money. We voted to disband early (Sunset date was first Sunday in January 2026). The only option was to bid on buying the unit--the whole thing, not a week.

To Larry M
This is a follow - up question from dioxide45, from his above post.
How many units are actually timeshare units at this Egrets Pointe resort, located on Edisto Island, South Carolina?

 

[Larry M]

To Larry M
This is a follow - up question from dioxide45, from his above post.
How many units are actually timeshare units at this Egrets Pointe resort, located on Edisto Island, South Carolina?

Fifteen units. Here is a marked-up Google map shot with the Egrets Pointe units outlined. (Didn't mean to include the cafe.) I don't know the exact history, but it appears that as Wyndham was building Ocean Ridge, some private developer got in and was able to build these units within the Wyndham development. The terms and conditions included access to the Wyndham facilities (golf course, beach cabanas, daily events and tours, pools, etc.). It was run by the owner-run HOA and their staff did the booking, cleaning, and maintenance. In fact, for a while you could get a free winter week if you agreed to do some painting in a nearby unit. And there were enough free winter weeks that you could always get one for $300 if you wanted one.

 

[Larry M]

Fifteen units. Here is a marked-up Google map shot with the Egrets Pointe units outlined. (Didn't mean to include the cafe.) I don't know the exact history, but it appears that as Wyndham was building Ocean Ridge, some private developer got in and was able to build these units within the Wyndham development. The terms and conditions included access to the Wyndham facilities (golf course, beach cabanas, daily events and tours, pools, etc.). It was run by the owner-run HOA and their staff did the booking, cleaning, and maintenance. In fact, for a while you could get a free winter week if you agreed to do some painting in a nearby unit. And there were enough free winter weeks that you could always get one for $300 if you wanted one.


View attachment 46207
I had this wrong. It should be 20 units and include the five above those I had circled.

 

[Larry M]

You can stop holding your (collective) breaths. This is the final chapter in the saga unless someone is curious about the $107 shortfall. I am going to ask the question.

The letter and check arrived today. The letter is below. The check is for $5,078.73. I'm not sure why the check is $107 short of expected, since I was up to date on maintenance fees. You will recall that I paid about $1500 for the unit in 2010.

 

[Larry M]

Final chapter. They sent a check for the shortfall--see the attached letter.

It's been great timesharing. Made a little money at it. Now on to the next adventure.