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Closure of Vacation Villa at Fantasy World 2

Jledralin

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May 20, 2023
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Resorts Owned
Vacation villa at fantasy world II
Any owners know why Vacation Villa at Fantasy World II in Kissimmee closed (owned by Festiva). Did they compensate you? Asking because I paid them for a Deedback a short while back. Now it shows permanently closed.
 
As noted in other posts, Festiva seems to be the common thread in a number of recent resort closures. Coincidence or strategy?
 
They needed to close this particular location. A total dumb with zero amenities.
 
is the entire fantasyworld resort closed? or just this phase 2?

website is still up and doesnt indicate anything closed? or is it just done as a timeshare?
 
Yelp shows permanently closed for phase 2.
 
Fantasyworld and Fantasyworld 2 are separate entities, not really phases of the same resort.
 
ah ha, assumed the addresses were the same as they were on the same road but they are indeed different. have indicated that fantasyworld 2 is closed.
 
Any owners know why Vacation Villa at Fantasy World II in Kissimmee closed (owned by Festiva). Did they compensate you? Asking because I paid them for a Deedback a short while back. Now it shows permanently closed.
We are an actual owner and I got a letter saying that we were gonna get bought out but still have not received anything. They said they would be sending checks out in May and we still haven’t gotten anything.
 
We are an actual owner and I got a letter saying that we were gonna get bought out but still have not received anything. They said they would be sending checks out in May and we still haven’t gotten anything.
They just can’t give it away. We have to sign off on something being an owner.
 
We are an actual owner and I got a letter saying that we were gonna get bought out but still have not received anything. They said they would be sending checks out in May and we still haven’t gotten anything.
How much are they supposed to give you ? Did they say?
 
Any owners know why Vacation Villa at Fantasy World II in Kissimmee closed (owned by Festiva). Did they compensate you? Asking because I paid them for a Deedback a short while back. Now it shows permanently closed.
They just sent us a check for $5,000 with no explanation or anything. Does anyone know what this is all about?
 
Can they legally do this with no notice or consent?
If you got out and got paid $5000, then consider that a HUGE gift. Most people get nothing or pay huge sums of money to get out of their timeshare.
 
Can they legally do this with no notice or consent?
this post from back in june indicated they notified all owners of the pending sale?



did you not get that? or any other communication?

The association would have likely had to legally vote yes, though if the association already had control of enough votes based on whatever was required by the covenants/bylaws...that could explain things a bit more.

that said, getting a check for 5k and being out of your timeshare would be considered a blessing for many right about now.
 
We are going through a similar process at Cape Cod Holiday Estates in Mashpee MA, with the big difference that the owners are being kept in the loop every step of the way. We had a vote to dissolve due to mounting maintenance issues. We had to sign over our deeds. Management had to chase delinquent accounts and accounts which had ownership changes or deceased owners. It was quite a lot of work... Everything had to be checked by the Land Court and we are close to the finish line more than 2 years later...
BTW - a buyer has been found and they have provided funding to pay for the legal costs, ongoing maintenance of the property (which is not being used), insurance, etc. After all is said and done we hope to collect around $8,000 per timeshare week.
FYI - the property was part of VRI and most recently Capital Vacations also got involved and actually has been very supportive from an administrative standpoint. Probably some money in it for them...
 
Comment related to this thread ...
I use the Brave browser and like most browsers it has an AI generated response to queries. I put in "Vacation Villas at FantasyWorld 2 closing" and I received a response that is clearly mining this TUG thread! Right down to the misspelling of 'dump'.
 
Comment related to this thread ...
I use the Brave browser and like most browsers it has an AI generated response to queries. I put in "Vacation Villas at FantasyWorld 2 closing" and I received a response that is clearly mining this TUG thread! Right down to the misspelling of 'dump'.
That's what those bots have been doing that have been brining the forums to a crawl...
 
Google's AI response is different, linking to the original Fantasyworld association website which says that timeshare ends in 2030 per original deed declarations.
 
So I used to own at this resort. I owned an every other year lockout. Used to be MF around $500 for the week, which as always, steadily rose thru the years. It was a decent, close resort but nothing fancy & usually deserted. When festiva took over, all sorts of special assessments were made. I paid the first 3 or so, which were $500 ea to upwards of $1,000 or so. For an every other year resort! I think I paid the same amount as an every year owner. And every year it seemed there was a special assessment, usually higher than the MF. I think they had lots of storm damage which the insurance didn't cover. At some point, I finally wrote them a letter saying I wouldn't pay any more & offering them the deed back but that I wasn't paying another penny. Which they then wanted around $500 or $1,000 for the deed transfer. Uh, no. I just didn't pay.

The lastest letter I got from them is that they sold the property, and that TS owners would be receiving a payout IF their accounts were in good standing. Which mine wasn't, so of course I expect nothing. Festiva said they had something like a 65% default rate. I didn't pay the last 2 or 3 special assessments, MF, or late fees. So if someone else got back $5,000--good for you, but I figure the amount I'd receive would have been less what I'd paid into it with the MF & special assessments. So I still consider myself even or ahead, and glad the thing is gone.

I think the resort needed to close, but I think Festiva made out very well, and that this is their strategy. If you have a resort, and they take over, watch out.

I've received no paperwork for signing over the deed either, although I'm sure the board will do some paperwork such that they aren't tracking down all the individual owners, especially with a 65% default rate.
 
Considering the condition of the property the 65% default rate doesn’t surprise me. I had an every other year lockout could only visit Sep - Dec (excluding holidays). I was paying around $500 a year plus around $ 700 special assessment each year towards the end. And this is for a place that rented for $100 per Night.
 
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