Diamond Resorts/Villas de Santa Fe Maintenance Fee Increases

[thomas660]

Doug,
You refered to a DRI buyback plan in an earlier thread. Does that only apply to selected resorts? Is there more information on the plan? Tom

 

[dougp26364]

Doug,
You refered to a DRI buyback plan in an earlier thread. Does that only apply to selected resorts? Is there more information on the plan? Tom

I do not know for sure if it's any/all resorts or only resorts that DRI needs units that can be resold into the DRI Trust. Both the Suite's at Polo Towers and the Villa's at Polo Towers have been sold out for a few years now. DRI doesn't have any inventory to sell there other than what they've forclosed on or what they can buy back. I had seen a post where DRI was making offers an Kaanapali units.

I would imagine that you would need to own in a DRI managed resort and it would need to be a resort that doesn't have a lot of developer inventory. The only thing I could advise would be to ask by E-mailing them at devbuyback@diamondresorts.com . The worst they can say is that they are not buying back units at the resort your interested in selling.

DRI has not made this well known throughout the company. If you call CS they'll tell you it doesn't exist and will suggest you try to sell your unit on E-bay.

 

[thomas660]

Thanks. I'll check it out. Tom

 

[pgnewarkboy]

I sold my maui unit back to DRI at over 80 cents on the dollar. They specifically contacted me and I would not have sold unless they did. I am unaware of any specific buy back program.

 

[Sunterra]

I sold my maui unit back to DRI at over 80 cents on the dollar. They specifically contacted me and I would not have sold unless they did. I am unaware of any specific buy back program.

They have a specific buy back program and I expect that your quote was 80cents on your purchase price from years ago. When they take your week and put it in their Hawaii Trust they will sell it for at least $24,000 - $45,000 depending on what view it was.

 

[dougp26364]

They have a specific buy back program and I expect that your quote was 80cents on your purchase price from years ago. When they take your week and put it in their Hawaii Trust they will sell it for at least $24,000 - $45,000 depending on what view it was.

Current offers I've read are more on the line of 25 cents on the dollar of original sales price. Our Suite's unit was originally $14,900. Current offers that I've read about, including mine, were $4,000 or 26.8 cents on the original purchase price dollar. The Villa's offer price of $5,000 works out to about the same amount. We have owned our units for 9 and 10 years. The $14,900 was a roll back price when they sold pre-construction Skyview units at Polo Towers. The price was "rolled back" to the "original" sales price when PT's started selling units.

If they were offering 80 cents on the dollar I would be almost everyone would be jumping off the bandwagon and selling their units. Price is going to depend on location, desirablity and current inventory. If they need the inventory and are having trouble obtaining it other ways (E-bay, Redweek et....), then prices will be higher. If resale units are abundant, if they have plenty of developer inventory already or in area's that sales are sluggish, then offers are going to be lower or, there won't be an offer at all.