Cabo Villas Contract Info

[lm1234]

Hi All,

We recently purchased a resale Cabo Villas Beach Resort 2 bedroom Exec EOY even use.

It is a RTU until 2110. Since it is a contract number over 30,000, it is in the BayView Suites Phase 3 section (according to their website).

Transfer was done quickly and now that is in our name, we contacted Cabo Villas to see about getting a copy of the contract. (The closing agent only had a fact sheet she had them fill out).

To my surprise, this is what they said:

"No I can not send you a Cabo Villas contract as you did not purchase from us and unfortunately that's one of the down sides to purchasing on the resale market; folks never seem to get all of the correct info doing it that way..."

Anyone ever heard of this? Is it legal in Mexico to refuse to give you a copy of the original contract because you bought resale?

How does one know rules and rights?

We have friends that own there (which is why we bought there), but they purchased theirs from the developer. (theirs is an earlier type of RTU different than ours)

We were told by our friends that this type of contract allows you to pull up to 5 uses a year from the back of the contract if done within 60 days of use. That would be great to use when family comes along or to let friends use.

Without the contract, we have no idea what we can and cannot do or how much they can raise the fees.

The maintenance fees for 2010 were $765.76 (per the paperwork), when the closing agent did her paperwork two weeks ago, they told her $816.95. We were just told today it will be $857.79 for the 2012 use.

We are rather at a loss to know if what they say is true.....

Would anyone have a copy (or the information) of what this type of Cabo Villas Beach Resort contract entails?

Or if they are allowed to not give us a copy of the contract?

There was a $100 transfer fee so they did get something out of it (besides the original full sales price).

Thanks for any help,
Lorrie

 

[Karen G]

Is there any way to contact the original owner from whom you purchased this resale? Seems like they would have a copy of the contract.

I just looked through my file on the Mexican timeshare we own and we do have a copy of our contract. It's a fill-in-the blank carbon copy of the contract the developer's representative and we signed.

 

[lm1234]

Is there any way to contact the original owner from whom you purchased this resale? Seems like they would have a copy of the contract.

I just looked through my file on the Mexican timeshare we own and we do have a copy of our contract. It's a fill-in-the blank carbon copy of the contract the developer's representative and we signed.

Thanks for the reply, Karen.

The people we bought from were the second owners and did not have a copy either.

We have the closing agent trying to get a copy from the resort, but expect they will also be told no.

Guess we might just have to wait until we go down to see what they will give us info wise in person.

Not a huge problem as we did get a great deal.

Just seems strange that they would not want us to know what the contract says.

 

[oldbuyer]

We have several CV contracts with the first one purchased from the developer. Only developer sales contain a copy of the contract. For a resale all you get is the certificate of ownership that shows the type of unit and has a transfer form on the back side. When you go to CV they will of course invite you to an owners update. The in house salesperson can pull the original file to see if what you thought you purchased is in fact what you did purchase.
It sounds like a key element for you is the acceleration clause. This clause varies by contract series and purchase date. You might call the customer service/booking number and ask what are the acceleration booking rules for your contract number. Some of ours have this clause some do not. Those that do state they can not be booked too far (varies) in advance (think bonus weeks) are SUBJECT TO AVAILABILITY and have a additional small booking fee.
The resort is nearly sold out so availability in winter months is difficult and they are now selling some Diamond upgrades that has taken away even more member inventory. Accelerated weeks are becoming a moot point. This is why we decided to purchase additional contracts in the secondary market to fill our needs. You found a great deal, you might need additional secondary contracts to fill all your needs. Contract week bookings get first priority. My recommendation is to book 365 days in advance if you want prime time.
Maintenance fees have been going up about $25-40 every year and there was a small special assessment in 2010 for a shortfall in the maintenance budget.
PM me if you have any additional questions.
OB

 

[lm1234]

Thanks!

We have several CV contracts with the first one purchased from the developer. Only developer sales contain a copy of the contract. For a resale all you get is the certificate of ownership that shows the type of unit and has a transfer form on the back side. When you go to CV they will of course invite you to an owners update. The in house salesperson can pull the original file to see if what you thought you purchased is in fact what you did purchase.
It sounds like a key element for you is the acceleration clause. This clause varies by contract series and purchase date. You might call the customer service/booking number and ask what are the acceleration booking rules for your contract number. Some of ours have this clause some do not. Those that do state they can not be booked too far (varies) in advance (think bonus weeks) are SUBJECT TO AVAILABILITY and have a additional small booking fee.
The resort is nearly sold out so availability in winter months is difficult and they are now selling some Diamond upgrades that has taken away even more member inventory. Accelerated weeks are becoming a moot point. This is why we decided to purchase additional contracts in the secondary market to fill our needs. You found a great deal, you might need additional secondary contracts to fill all your needs. Contract week bookings get first priority. My recommendation is to book 365 days in advance if you want prime time.
Maintenance fees have been going up about $25-40 every year and there was a small special assessment in 2010 for a shortfall in the maintenance budget.
PM me if you have any additional questions.
OB

Thanks!

Sent you a PM.

L