Cabo Villas/Cachet building how does this effect contracts?

[jules54]

Does anyone know how the new Cachet organization that is building a new tower is handling the phrase 1 contracts? Especially since that building has been torn down.
Will all owners have access to new tower?

Thanks In Advance

 

[oldbuyer]

SOL basically, No access to the new tower as it is a HOTEL and is not TS. Of the over 5000 building one contracts less than 10% remain and those contracts will be honored in building 2 which is the building closest to the beach. CV has gone out of the TS business and is now a hotel operator for another investor and a vacation club only. (they continue to sell VC contracts)
No compensation for displaced owners as most have turned in their contracts by now as their method of encouraging turn ins is by raising the MF annually by the maximum your contract allows and adding on top of that special assessments. Total MF have risen over 100% in the 10 years we owned multiple contracts there. How nice of the Ericksons to let us out of our contracts by only paying them $100 to dispose of them back to the developer as no knowledgeable person will buy them now as they have become the most expensive studios (what they call one bedroom deluxe) in Cabo. IF you want to use your contract at CV then I recommend you book and prepay the MF 365 days in advance and hope they don't move you to another resort as they say they have that option.

 

[jules54]

Did you turn your contracts back to developer? In 2012 we traded in our 4 resale weeks plus 8000.00 to get 14 days only pay when you want to book. Has worked out well so far and we have recouped our upgrade in Rentals. We r actually here this year for Christmas week. Hubby refused to go to update and I assumed they would find a way to screw us. Your right about the fees. For 2019 a 2 bedroom in Bayview is 1500.00. We had about 12 good years of ownership since we bought the first 4 weeks for under 2500.00 total.
I also own in Playa Del Carmen at Sunset Fishermens Resort and Spa own 11 contracts. I get the feeling that organization Sunset Resorts is headed towards screwing us over some way in the very near future.
Thanks again for the information....Julie Tlamka

 

[oldbuyer]

Did you turn your contracts back to developer? In 2012 we traded in our 4 resale weeks plus 8000.00 to get 14 days only pay when you want to book. Has worked out well so far and we have recouped our upgrade in Rentals. We r actually here this year for Christmas week. Hubby refused to go to update and I assumed they would find a way to screw us. Your right about the fees. For 2019 a 2 bedroom in Bayview is 1500.00. We had about 12 good years of ownership since we bought the first 4 weeks for under 2500.00 total.
I also own in Playa Del Carmen at Sunset Fishermens Resort and Spa own 11 contracts. I get the feeling that organization Sunset Resorts is headed towards screwing us over some way in the very near future.
Thanks again for the information....Julie Tlamka

Julie, I too would avoid the pitch as they have nothing but air to sell which is what they have been selling the last several years after Bayview was sold out. The information I gave above was as of Jan 2018 which was our last week there. After a what is in the future conversation with Adam we decided to turn in our last two contracts back to the developer for the fee of $100 each as Adam indicated another possibly large assessment was going to be levied in mid 2018. With knowledge of an upcoming special assessment (to relocate the bar?) I felt that I should not sell the contracts in the secondary market so we executed the turn in option. (I believe the more contracts that get turned in (or "upgraded" to VC) the more of the property they can then sell to Cachet Hotel as their contracted obligation to provide TS rooms have been reduced)

Cabo villas used to be a great place to visit because of the location and staff but none of the staff stayed more than a few years because of how they were treated by management and the constant abuse they were taking from disgruntled customers that were rope a doped for so many years. To me CV management is ethically challenged and is not in the customer service business so we have moved on.

 

[jules54]

Thanks again. You are always so generous with information on Mexican Timeshares. You have really helped me through the years and saved me thousands of dollars and from tearing my hair out.

 

[b2bailey]

I have an II confirmation for a two bedroom C.V. in July. Reading this makes me feel a bit nervous about what I will find there.

 

[oldbuyer]

Building two which has the standard two bedroom units is still there and the construction of the hotel is behind and a little further off the beach from you. They used to give exchangers the worst 1 bedroom rooms in the resort (wall of shame view) but there are no bad two bedroom units (there are only a few). You will probably be on the 3rd floor overlooking the only remaining pool. Construction noise was no worse than the Medano beach bar noise. If you go to bed before 10ish bring earplugs.

 

[Cabo4me!]

Does anyone know how the new Cachet organization that is building a new tower is handling the phrase 1 contracts? Especially since that building has been torn down.
Will all owners have access to new tower?

Thanks In Advance

My husband and I have owned three FIXED UNITS/FIXED WEEK (#44)on the top floor(6)in the only Ocean Front Building on site. We bought a 100 year contract and it expires in 2107.Our maintenance fees started out at $700 for ALL THREE units and for 2019 it is now $1335. That's still a bargain in my opinion as the resort would rent those three units for week #44 for over $6000. Over the years they have tried many different programs to convert fixed week owners to some other program. A few years ago they were attempting to convert contracts (especially the fixed contracts) to Diamond International Points, then it was conversion to floating weeks in BayView Towers. When we were last there Nov 2018, they attempted to convince us that giving up our fixed week/fixed units for their Vacation Club was a great idea. I have learned that floating weeks/units regardless of the resort is asking for trouble. If not at first, but down the road. I personally know what it's like to call a year in advance (at another resort) only to be told that there are no units available for the week you are requesting. If you are lucky enough to make your reservation, more than likely you will Not be placed in an ocean front location or any view location. As a matter of fact, they might tell you they are full and place you at some other resort.

As an example, in the case of Villa del Arco, when you buy at that resort you must read the fine print that says you are buying their Group of resorts. When we showed up with a confirmed reservation for del Arco they tried to put us in their other resort the Palmar which in my opinion is very undesirable. I created a scene (usually not my style) at the front desk and were quickly taken to a private office where we were told we could stay at del Arco.

Regarding the owners of contracts at Cabo Villas for the building that was torn down, I spoke with several of those people who were offered weeks in the OceanFront Building. Keep in mind there are many Fixed Weeks/Fixed Units in that building so I'm not sure how many remaining units were available to promise those folks. We are not giving them up for the right to use "space" in some other building, even with the caveat of not paying a maintenance fee unless you use it. What about the large payment you have to pay up front for the right not to show up and pay more. We did have to pay a special assessment fee of around $500 last June. We were told that only remaining TS owners would be assessed and not those who belong to their vacation club. We saw this as another way for the owners to attempt to squeeze out the remaining TS owners especially the fixed week/fixed unit people. We know what we own and at least at this point we are not giving them back to the developer.