How can we get rid of a Kauai Beach Villas interval ownership?

[waginger]

It's never been a secret, and has been advertised on the Wyndham site for years now.

I am 80% sure that the person who approved the surrender that another TUGger documented did so against the wishes of management, and probably lost their job because of it.

That Wyndham has an exit program itself is not a secret, I agree.
That for a brief time it was possible to exit KBV however does seem to have been. See also post #19

 

[bnoble]

Well, again--I think there was an exit path because some representative screwed up, not because Wyndham suddenly became exceptionally benevolent and willing to take on weeks with a potential liability of 10K each.

 

[DeniseM]

Folks - Wyndumb and the Board are not your friends. They are going to do whatever serves Wyndumb the best - not owners, so don't expect anything else.

 

[DRIless]

Luanne -- the resort will likely "go under" due to the flooding from a tropical cyclone and more importantly, the construction defects (some people want to change the narrative and facts) detected when assessing the repairs following the tropical cyclone.

Some KBV contracts are selling on eBay, but that may just be inviting a lawsuit from the buyer, once the buyer discovers the pending special assessment(s) that are clearly public knowledge within the scope of any current owner at the time of sale. A nightmare for both sides of the transaction.

I was there at KBV earlier this month and made the mistake of asking for an OF or OV unit. Here's what I learned,' all second hand.
There are two OF buildings and both are EMPTY except for the legacy owners who hold the deed to a specific unit wholly owned. These two buildings have yellow tape all around them marking them as Hazard Areas. The problem appears to be the stress members in the concrete are all rusted out on their fasteners and it's waiting to cave. The soffits and stairwell ceilings have all been removed and the contractor walked. Temporary covers to keep animals out are all ripped to shreds by the winds and noisily flap in the breeze all day. It's third world.
The third building affected is further from the water, but nothing is between it and the water. That's the building I was in. Because it further it does not have the serious structural concrete problem. The same third world breeze flapping temporary covers on the soffits and stairwell ceilings exist. Inside the units are dated. When I arrived my door was in a locked open position. There were two split unit air conditioners and also two portable floor units duct taped to the vent louvers from when there was not any A/C. They removed those portable units when I complained. My partner complained that 'her' bathroom (attached to the bedroom in this 1BR/2Ba condo was smaller than the second bathroom that served the common areas, oh well.
The rest of the units on the property seemed to be better maintained. Their pool was tiny with only 7 lounge chairs, really? You could use the pool at the Outrigger hotel adjacent.

 

[benoma88]

It's never been a secret, and has been advertised on the Wyndham site for years now.

I am 80% sure that the person who approved the surrender that another TUGger documented did so against the wishes of management, and probably lost their job because of it.

Wyndham advertised a deed back program for years, Wyndham is resort management, then HOA (KBV BOD) shut it down?? Smells fishy... like self-dealing interest.

 

[rmarywendy1]

I talked with KBV and they referred/transferred me to Wyndham Financial Services Center who said that the Deed Back program has been suspended. The suggestion from everyone I talked with was to try to sell 3rd party... I just want to give the thing away! Who is going to buy it with the assessment hanging over it.

 

[DeniseM]

Just stop making the payments...

 

[rmarywendy1]

Tell would be buyers or take overs the Truth. We do not know for sure when the special assessments will be. We have already paid for one smaller one which is supposed to be to repair buildings H and G. When they repair Those, they will increase the income of the resort DRAMATICALLY. That should help limit increases in the maintanence fees..and maybe they can resell the units in those buildings quicker since their views are spectacular.

 

[DeniseM]

rmarywendy1 - The buildings are closed and condemned and falling apart. After visiting them in October, it was clear to us that they are never going to be reopened.

My report & pictures from October:

Just visited KBV

Will post report and pictures later today. Sent from my iPhone using Tapatalk

tugbbs.com

 

[rmarywendy1]

I was honest and told would-be buyers about the special assessment estimates and found a buyer. I am hopeful that the assessments will not hit this year. Sold my every year 2 bdrm oceanfront at KBV for merely the title fee and transfer fee (Wyndham charges $399). Someone who wants a timeshare there knows its cheaper to get one for free which may have a special assessment coming than buying one from a resort.. There are KBV units advertized for ridiculous prices on SellmytimeshareNow which will never sell but SMTN is a chargeing large up front fees to post an ad! SellmytimeshareNow has 74 for sale . Do what you can to give it to a new owner but be honest. The good news is that KBV is now planning to start redoing buildings H and G beginning in the third quarter of this year. This means use of those buildings oceanfront can be restored maybe next year.. and that will bring in revenue to the resort and potential new buyers for units. Its a gorgeous beach and resort amenities are good..

 

[DeniseM]

They have already said that there will be a special assessment this year. Are you just ignoring the multi-million dollar structural repairs that the entire resort needs? The cost is astronomical - who is going to pay for that?

 

[jacknsara]

Aloha,
It has occurred to me that picking up an OF unit for under $1K in fees could make sense for fully informed folks who plan to use it for 1 - 3 years until the partition vote. If it succeeds they might get a few dollars. If it fails, they just default like so many of us are likely to do when the really big special assessment hits.
Fixing the post-stress cables in buildings G & H which our first small assessment is to accomplish enhances the value for a buyer after a successful partition vote. KBV IOA reserves as reported are sufficient to rehabilitate some or all of the IOA units in G and H.
In recent years we've been taking more Hawaii trips using VRBO and some hotel nights. The MFs at KBV are a substantial bargain for ocean front.
Jack

 

[rmarywendy1]

Well, I did find someone to take over my Kauai Beach Villas timeshare (every year 2br2bth). I told her the maintenance fee and the prospective special assessment.
She reasonably decided that getting it free (except for title and transfer fee) still meant it was cheaper even with the estimated special assessment than acquiring it from the resort or from others selling theirs ..(it comes out to less than I paid for it!). One has to be honest and share about the special assessment. I think younger folks than me (ie nearly everyone!) can get years of use out of a timeshare and spend less yearly than for a hotel on Kauai. Thought I would share with all that it is possible. I do think that sites like Sellmytimeshare now are a ripoff and charge an outrageous amount to advertize a timeshare on their site.

 

[bnoble]

She reasonably decided that getting it free (except for title and transfer fee) still meant it was cheaper even with the estimated special assessment than acquiring it from the resort or from others selling theirs ..(it comes out to less than I paid for it!).

It's worth noting that this is not at all true. Weeks at older, unbranded Hawaii resorts are free for the taking.

But, if you are planning on defaulting when (if?) the assessment is billed, then the calculus changes.