'General Fund' Fee

[Gophesjo]

I spoke with a Vegas resort management company today to find out what their resort transfer fee is. They said that the resort transfer fee is $95, and that there is another 'General Fund' fee of $350.00. I asked what that was, and was told that it is a fund they have established - that is charged one time only up front upon purchase/transfer transactions - for unexpected resort expenses, so that they don't have to raise maintenance fees.

I told them I have never been asked to pay a ' Special Assesment' before a unit that is not yet even in my name, and so would certainly not be acquiring a unit at that resort or any of the others that that company manages. The rep of course tried to argue that it is not a special assesment, at which point I just ended the call. I'm amazed at the cheek.

 

[aliikai2]

Consolidated

They mis-quoted you, the total transfer fee is $550 for any of their resorts, doesn't matter size, annual or eoy. The transfer fee is $200 and their extra fee is $350, and has been for many years. We also won't buy anything they manage.
fwiw,

Greg

I spoke with a Vegas resort management company today to find out what their resort transfer fee is. They said that the resort transfer fee is $95, and that there is another 'General Fund' fee of $350.00. I asked what that was, and was told that it is a fund they have established - that is charged one time only up front upon purchase/transfer transactions - for unexpected resort expenses, so that they don't have to raise maintenance fees.

I told them I have never been asked to pay a ' Special Assesment' before a unit that is not yet even in my name, and so would certainly not be acquiring a unit at that resort or any of the others that that company manages. The rep of course tried to argue that it is not a special assesment, at which point I just ended the call. I'm amazed at the cheek.

 

[rickandcindy23]

Agree with Greg, it's Consolidated's usual fee for any week, any resort.

And the fee is outrageous for transfer of a property, as though they do ANY work at all. It's a name change in the computer.

I would like to see if that money does go to the resort. I doubt it. When Consolidated stopped being the sales department, I hoped this fee would go away.