I was weary and uncertain when I first listened to the Zoom meeting last month. However after careful reflection and consideration I now realize that unfortunately the only option is to close. ( Special assessments are out of the question since the costs for the remaining time share owners would be unreasonable and uncollectible.)According to recent reports there is no funds available for daily operations,employee salaries and the needed financial resources to pay for overdue taxes,electric,etc.(Not to mention the desperate maintenance repairs and upkeep required.)It is very unfortunate that it has come to this but when many owners (understandably)have stopped paying annual fees and the past incompetence and neglect of management and Board of Directors this is what has occurred.
What are they going to tell us tomorrow night. I think the company organizing the webinar is a timeshare resale company but there is nothing the owners have to offer / sell so not sure what they will be proposing to us.
So a timeshare resale management company has the power to do something with our votes?
Curious if John or The Goochers will be on it, considering they have most of the TS ownership
No, the company is going to present this option. We vote yes or no. At this point, seeing as the board doesn't really exist, we are between a rock and a hard place. The property is no longer. I dont want it anymore. I will vote to amend for a termination clause and then vote to close.
Yes, I wonder, too.
Towb is more than what you think it is (i previously posted these links- i dont own here, just interested because the closure of the resort i own at has been undertaken and i am watching to see how this goes):
towboptions.com
www.prweb.com
For any units that they actually own, rather than the HOA owning them, one would think that legally the answer to both questions has to be yes.
Good question.
What happen?
We are not agreeing to sell!
They are not allowed to do this and they are getting away with it by everyone believing that the only option is to sell. That’s wrong. Everyone needs to stay together they can not do this if everyone stands there ground. I can’t believe we missed the meeting and have been locked out. Our lawyer is working on this right now- because we were never notified which is illegal. They are doing this to a lot of elderly owners who do not know what’s going on and getting away with it. I bet more then half of these owners have not a CLUE about any of this.
I'm not sure what other option besides selling you think there is. It is a crying shame what mismanagement of the property has done to a place important to so many, in terms of past memories and future vacation plans. But if you're hoping Eagle Village will stay open as the same old timeshare it has been, it would appear you are badly unaware of the state the resort it in, both physically and financially. Apparently a lot of money is owed for both taxes and utilities. And that's before you get to the money needed to fix up the property to bring the resort back up to decent standards for habitation, much less a nice place to vacation. The only place for that money to come from is the owners, and from discussions here it seems that would at the very least be several thousand per owner, on top of the Maintenance Fees that have normally been charged to keep things running for day to day operations. And apparently those fees were too low to keep things going the way they should have. Already many owners have stopped paying Maintenance Fees, so it would be very hard to get them to pay up the additional expenses needed beyond that to get the property up to snuff and then maintain the resort at the necessary level. So then that would multiply even further the amount that would need to be paid by any owners still interested in sticking around, likely in the tens of thousands or more per week owned. Maybe you can afford it and would be willing to spend that, but I highly doubt enough others would be willing or able to, in numbers sufficient to make that a viable path.