Fee Increase

[nazclk]

Just found out that the Pueblo Bonito group has raised there transfer fees to $300 per week. Used to be $100. When I emailed the resort a person told me that most of the resorts in Cabo were higher so they just wanted to catch up.

 

[Bill4728]

I remember hearing stories of a resort group in mexico, which charged it's transfer fee based on a % of the sales price. But not the resale's price but the orginal sales price. So you could pay $1000 for the TS and then have to pay $1,500 to transfer the TS (10% of the $15,000 developer sale's price).

Now that's a rip off!!

 

[pranas]

Mayans do this.

 

[marcmuff]

Krystal charges 10 percent of the original cost - Mine cost $7500 (resale from Krystal--before I knew about TUG) so would be $750 to transfer the week

 

[MuranoJo]

Mayans do this.

Do you mean Mayan Palace/Grand Mayan? If so, depends on the year of the contract, they vary. For instance, my older contract is the current year's mf, others are higher.

 

[richardm]

Do you mean Mayan Palace/Grand Mayan? If so, depends on the year of the contract, they vary. For instance, my older contract is the current year's mf, others are higher.

Mayan Palace....

This is correct.. Also, word of caution- for the newer contracts at 10%, if the original buyer purchased multiple weeks from the developer- they will base the transfer fee on the entire purchase price, not break it down to a weekly basis.

For example, if the seller bought 3 weeks at $20,000 each on his original contract- then decides to sell 1 week- the transfer fee will be $6,000.

The transfer fee often plays more of a role in these resales that the seller's asking price!

*****

Pueblo Bonito....

They are honoring signed estoppels that show the $100. transfer fee. If you are involved in a transfer currently, I recommend you have your closing agent confirm to you if a signed estoppels was obtained, otherwise expect to be charged the higher amount.