Help newbie with Mayan transfer fee

[DeniseM]

Hi - I'm sorry if the info. is already here, but I couldn't find it. Can you give me a ball-park figure for the transfer fee for a Mayan Sea Garden studio?

 

[mikenk]

Denise,

In general for mayan properties bought when that one was, the transfer fee would be 10% of the original purchase price. A sea garden studio would be the lowest level of entry (I didn't even know they sold those that way). My guess is that could have been bought at 10K which would make the transfer fee about a thousand bucks - but really just a ballpark guess,

Mike

 

[nazclk]

Mayan

Really depends on when it was originally purchased, if it was before August2001 it is one maintenance fee, between 2001 and 2008 it is 10% and then starting in 2008 (I think) it became 5 times the current maintenance fee. YIKES

 

[pittle]

Really depends on when it was originally purchased, if it was before August 2001 it is one maintenance fee, between 2001 and 2008 it is 10% and then starting in 2008 (I think) it became 5 times the current maintenance fee. YIKES

Actually they started the 5 MF in late 2005. Our GM contract falls in the 5 MF category and we did the upgrade in April 2006.

Your other dates are correct.

 

[renomnca]

Actually they started the 5 MF in late 2005. Our GM contract falls in the 5 MF category and we did the upgrade in April 2006.

Your other dates are correct.

I'm the newbie whose wondering. We bought in Aug. 2007. If we decided to walk away and just give it back to them, would they come after us for the maintenance fees? They aren't due for another 3 years. We don't owe anything on the timeshare as far as the resort is concerned (it's on a zero percent credit card).

 

[pittle]

I doubt that they would let you out of your contract, but you could ask. They would not refund any of your money, so that would would be an even more expensive lesson. With the 5 maintenance fee transfer fees, you will not get any money from a resale to someone else at all, but that may be your only option. You can always find a renter for at least the cost of yur maintenance fees.

The resorts are wonderful. We love them and so does our family. We have taken several great extended family vacations at both Grand Mayan and Mayan Palace.

 

[renomnca]

I doubt that they would let you out of your contract, but you could ask. They would not refund any of your money, so that would would be an even more expensive lesson. With the 5 maintenance fee transfer fees, you will not get any money from a resale to someone else at all, but that may be your only option. You can always find a renter for at least the cost of yur maintenance fees.

The resorts are wonderful. We love them and so does our family. We have taken several great extended family vacations at both Grand Mayan and Mayan Palace.

Thank you for the info. When you say they won't let us out of our contract, do you mean that if we told them we were walking away now that they would still come after us in 3 years for the renovation fee? I know they won't refund our money so I'm ready to just eat that I guess.
I'm worried about renting since we would have to upfront the maintenance fee to reserve the room before getting the money from the renter. If the renter backed out before the 30 day cancelation period, we'd be out another $412. We really can't afford that right now. I don't know how to trust the people that want to rent to be good for the money and to not trash the place where we would get stuck with a clean up bill. This whole situation has made me very wary of others. We've been scammed and ripped off so many times while trying to rent and sell this place.

How hard is it to get a reservation there? I'm afraid that if I would call to make a reservation for someone that they won't have anything available.

 

[pittle]

Reservations are not that hard to get. By the cost of your maintenance fees, I am assuming that you have a hotel unit.

I would at least call and ask about turning it back in. If you tell them that you cannot continue to pay. It is worth a try.

 

[Dean]

Thank you for the info. When you say they won't let us out of our contract, do you mean that if we told them we were walking away now that they would still come after us in 3 years for the renovation fee? I know they won't refund our money so I'm ready to just eat that I guess.
I'm worried about renting since we would have to upfront the maintenance fee to reserve the room before getting the money from the renter. If the renter backed out before the 30 day cancelation period, we'd be out another $412. We really can't afford that right now. I don't know how to trust the people that want to rent to be good for the money and to not trash the place where we would get stuck with a clean up bill. This whole situation has made me very wary of others. We've been scammed and ripped off so many times while trying to rent and sell this place.

How hard is it to get a reservation there? I'm afraid that if I would call to make a reservation for someone that they won't have anything available.

I'm not a Mayan expert and can't speak for them. I do know that many Caribbean and MX resorts have set themselves up so that you have a US obligation. Do you pay your fees to a US address or MX? I'd suggest you contact them and ask if they'll take it back with you just signing it over to them, they likely will. Just get it in writing and keep it forever just in case.