Summer Bay Resort a Sink Hole [merged]

[tug1873]

It is interesting. I imagine that if it cannot be rebuilt then the insurance proceeds would flow to the owners that are forced out. Which begs a question. Even under a floating system, I am assuming that the actual deeded owners of that building will be the ones forced out if it cannot be rebuilt?



Required by law as part of standard insurance, see post above.

I own in building 107 I believe this was building 104? Does anyone knows what building collapsed.

At summer bay Villa's there is multiple HOA's I believe on that site. Since I am a Villa owner and that is the collapse happened I know that this will effect me.

I don't know how the legal property divides and who owns what but I believe summer bay has room for another planed phase.

If they paid me out from insurance I would be really happy.

 

[Saintsfanfl]

I know with Katrina and at least one of the timeshares in New Orleans the owners had to sit tight and eat annual maintenance fees as well as pay a special assessment while the building was unoccupied. Hopefully in this case it is spread across all the owners within that HOA.

 

[TIMESHARE-HO]

Summer bay - sliding away.. Not funny! Sinkhole!!

OMG! HOW AWFUL! Those poor people have lost all their belongings & had the scare of their lives! You come to Disney to get away from realty! You return home not knowing if that dog is real or not! Universal is as scary as we can handle.. BUT A SINKHOLE AT A HAPPY DISNEY RESORT??
Yes, I own there.. and that is very scary now.. I ASSUME they have insurance for sinkholes?? I also ASSUME it will not cover everything.. and I ASSUME it will be one helluva ASS'mt FEE or WORSE!! THIS IS WORSE THAN A HURRICANE!

SEND ME REPLIES PLEASE!! jillmazz222@yahoo.com

 

[TIMESHARE-HO]

**ALERT** SUMMER BAY Disaster! Huge SINKHOLE!

This may be wrong forum, but TUGGERS NEED TO BE ALERTED! THEY MAY HAVE OUTSTANDING RENTALS AVAIL OR JUST RENTED.. CHECK THE NEWS!

OMG! HOW AWFUL! Those poor people have lost all their belongings & had the scare of their lives! You come to Disney to get away from realty! You return home not knowing if that dog is real or not! Universal is as scary as we can handle.. BUT A SINKHOLE AT A HAPPY DISNEY RESORT??
Yes, I own there.. and that is very scary now.. I ASSUME they have insurance for sinkholes?? I also ASSUME it will not cover everything.. and I ASSUME it will be one helluva ASS'mt FEE or WORSE!! THIS IS WORSE THAN A HURRICANE!

SEND ME REPLIES PLEASE!! jillmazz222@yahoo.com

 

[Saintsfanfl]

Who pays the deductible for guest related lawsuits? Is it the management company or the HOA?

 

[yma01]

Who pays the deductible for guest related lawsuits? Is it the management company or the HOA?

It is not management's fault as to what happened, so I don't know how there would be lawsuits? This is basically an act of God. The fact that a salary paid security guard alerted guests and got everyone out unharmed is a testimony to the Resorts' diligence in protecting the guests.
But I may be wrong. This is such a "Sue" happy society.:annoyed:

 

[Joe33426]

It is interesting. I imagine that if it cannot be rebuilt then the insurance proceeds would flow to the owners that are forced out. Which begs a question. Even under a floating system, I am assuming that the actual deeded owners of that building will be the ones forced out if it cannot be rebuilt?



Required by law as part of standard insurance, see post above.

Even with insurance, it's going to be a LONG and complicated process and likely will costs the owners money. Attorneys, lost revenue, defaults, etc. will result in special assessments to the owners.

There was an article about a resort closing on the west coast of Florida a couple of months ago in the timeshare magazine. I forget the name. The members voted to sell and the proceeds disbursed to the owners based on the market value of the weeks owned. So redweek owners will see more money than others.

 

[suzanne]

WOW!!!! This is really scary. We are confirmed to a 2 bedroom unit checking in Dec. 14th. I'm not sure how RCI is handling all the exchanges to Summer Bay. I will wait few days before calling them about it. I'm sure they are being bombarded with calls right now. Just really glad no one was hurt.

Suzanne

 

[Saintsfanfl]

It is not management's fault as to what happened, so I don't know how there would be lawsuits? This is basically an act of God. The fact that a salary paid security guard alerted guests and got everyone out unharmed is a testimony to the Resorts' diligence in protecting the guests.
But I may be wrong. This is such a "Sue" happy society.:annoyed:

Exactly, and precisely why there will be a lawsuit. It doesn't matter if they have a legitimate case, lawyers will line up and take the case with no money upfront because they will find liability somewhere among the ruins. They don't even want real liability, they just want the threat so they can settle.

 

[Saintsfanfl]

Even with insurance, it's going to be a LONG and complicated process and likely will costs the owners money. Attorneys, lost revenue, defaults, etc. will result in special assessments to the owners.

There was an article about a resort closing on the west coast of Florida a couple of months ago in the timeshare magazine. I forget the name. The members voted to sell and the proceeds disbursed to the owners based on the market value of the weeks owned. So redweek owners will see more money than others.

Market value would be difficult and subjective to determine. I am guessing they used the property tax assessor values as a means to determine the allocation percentage of the proceeds.

 

[Saintsfanfl]

A unit in 105, which is right next to the collapsed building, just hit the bargain forum.

 

[DaveNV]

Thanks. I didn't see that thread. Moderators, please close or delete this one.

Dave

 

[timeos2]

Who pays the deductible for guest related lawsuits? Is it the management company or the HOA?

Talk about ridiculous lawsuits! While I'm sure there will be attempts if ever there was an "act of God" this type of calamity is one. They would get nothing out of it but a legal bill. Trying to blame anyone for not knowing that a building could be swallowed by a sink hole goes beyond belief.

 

[timeos2]

A unit in 105, which is right next to the collapsed building, just hit the bargain forum.

If Summer Bay is fixed use / units then this could be a problem. If it's float then not so much as other units in the same Association can pick up the slack while the damaged building is replaced. Far too early to say how this will ultimately turn out for sure.

 

[Timeshare Von]

In terms of those holding RCI exchanges, I had an Orlando exchange for a friend who was affected by Hurricane Andrew. The resort was closed due to damages sustained. RCI was able to place them in another local resort with similar accommodations (2BR 6/6) so my friend was OK with their trip. Hopefully something similar will be worked out for those with RCI exchanges that are affected.

 

[Carol C]

Just now made the Weather Channel's news. When I saw "Clermont, FL" I figured it was Summer Bay. Looks bad...and I imagine they're going to have to hire engineers to examine all their property. Hope they have enough reserves to fund this emergency...otherwise it will mean a special assessment or hikes in annual m.f. for owners. Too bad...and it kinda makes me wonder if other big developments are on shaky ground in central FL (I wouldn't be surprised).

 

[timeos2]

Too bad...and it kinda makes me wonder if other big developments are on shaky ground in central FL (I wouldn't be surprised).

OH, if only it could be WASTEGATE - preferably a certain gaudy mansion of a convicted Developer! We can only hope.

 

[Beefnot]

So is a sinkhole permanent?

 

[tug1873]

Just now made the Weather Channel's news. When I saw "Clermont, FL" I figured it was Summer Bay. Looks bad...and I imagine they're going to have to hire engineers to examine all their property. Hope they have enough reserves to fund this emergency...otherwise it will mean a special assessment or hikes in annual m.f. for owners. Too bad...and it kinda makes me wonder if other big developments are on shaky ground in central FL (I wouldn't be surprised).

Sink holes are a normal occurrence. Right now it looks like it only 1 building. If there is insurance the affect should not be much different then if there was a tornado or fire. Stuff like this happens all the time.

The only issue I could see if the whole property turns out to be unstable. There was supposed to be an engineer study done when the units where being built.

 

[suzanne]

Need some quick advice. I can grab a 2 bedroom units at Polynesian Isles Resort (not Disney) or at Royal Palms for our same check in date in December. Should I call and have RCI switch our exchange to one of those resorts or wait to see how much of Summer Bay is going to be effected. If switching which of the 2 would be best for 2 senior adults? Afraid that if we wait to long everything will be taken.

Suzanne

 

[amycurl]

Also made the "5 people having a worst Monday than you" list:
http://www.happyplace.com/25630/5-people-having-a-worse-monday-than-you-8-12-13

The vast majority of Florida is natural swampland/wetlands. This is what happens, eventually, when you try to make natural swampland/wetlands into something else. Beyond the increased risk for hurricane damage to your resort, the increasing possibilities of sinkholes would be another reason I don't think I'd ever own a Florida property of any kind.

 

[timeos2]

Need some quick advice. I can grab a 2 bedroom units at Polynesian Isles Resort (not Disney) or at Royal Palms for our same check in date in December. Should I call and have RCI switch our exchange to one of those resorts or wait to see how much of Summer Bay is going to be effected. If switching which of the 2 would be best for 2 senior adults? Afraid that if we wait to long everything will be taken.

Suzanne

Summer Bay is a huge, mega-resort. Having a single building - or even 3 or 4 - out of service isn't going to impact things unless it is a prime prime Holiday period like Christmas. They just have too much inventory for 36 units to throw things off.

 

[Saintsfanfl]

Need some quick advice. I can grab a 2 bedroom units at Polynesian Isles Resort (not Disney) or at Royal Palms for our same check in date in December. Should I call and have RCI switch our exchange to one of those resorts or wait to see how much of Summer Bay is going to be effected. If switching which of the 2 would be best for 2 senior adults? Afraid that if we wait to long everything will be taken.

Suzanne

Marriott's Royal Palms. Hands down no contest to Polynesian Isles imnsho.

 

[Saintsfanfl]

Also made the "5 people having a worst Monday than you" list:
http://www.happyplace.com/25630/5-people-having-a-worse-monday-than-you-8-12-13

The vast majority of Florida is natural swampland/wetlands. This is what happens, eventually, when you try to make natural swampland/wetlands into something else. Beyond the increased risk for hurricane damage to your resort, the increasing possibilities of sinkholes would be another reason I don't think I'd ever own a Florida property of any kind.

It is actually not the swamp/wetlands that cause the sinkholes, otherwise you would see this happening in Southern Louisiana. The sinkholes are caused by the dissolving of the thick limestone layer that forms the base of the land. Florida has a massive amount of connected underwater caverns. I believe they have the largest caves in the country, but they are under water.

 

[krmlaw]

I was just coming here to post this - OMG!