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NaPali Kauai Club STATUS 11/4/15

Kauai Kid

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The club is going out of business by selling our times shares and distributing the proceeds to the owners. The club is one of three firms managing the ALII KAI RESORT on PRINCEVILLE,

Just a quick note to bring you up to date on the progress of the resales.

For the last few months, Unit 14D has been listed for $15,000 over its appraised value. At that price there have been a few inquires about the Unit but only two actual showings. No offers have been received.

There are two Units at Alii Kai II that are also listed for more than their appraised values and both those Units have been on the market for over a year.

After discussing the situation with our realtor, we have decided to lower the asking price to $370,000 which is what the Unit is appraised for. Its always easier to lower a price in an attempt to find the price at which a Unit can be sold. That's what we are now attempting to do.

The projections sent out earlier this year estimating what each owner would receive when a Unit was sold were based on our Units selling for their appraised values minus a deduction of 10% to cover broker commissions and closing costs. We are now attempting to sell Unit 14D at its appraised value.

Our intent is not to have our Units priced so high that they sit on the market for an excessive period of time. If after 90 days, and if no offers are received at the new asking price for Unit 14D, our realtor may recommend a further reduction in the selling price. If that happens, all owners will be emailed and asked their opinion of that action. Any reduction in a Unit's selling price below its appraised value will have to be approved by a majority of the owners who respond.

Our goal is to have at least one if not two of our Units sold in 2015-2016 and the remaining three Units sold in 2017. We just need to find what selling price is necessary in order to get the Units sold.

In regards to sending out the paper work necessary for an owner to transfer their week(s) into the LLC we have been processing weeks in batches of ten at a time and have approximately half the weeks done. We will be taking a break for the next few weeks and intend to resume after Thanksgiving. If you have not yet received your paperwork, you should expect to receive it during December and all weeks should be processed into the LLC before the end of the year.

Jim Wyndham
 

Azjones01

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Any update

I AM ALSO AN OWNER AT NA PALI KAUAI AND HAVE STILL HEARD NOTHING REGARDING SALE OR RENTAL INCOME. Anybody know anything new???

Kelly
 

Sandy

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I AM ALSO AN OWNER AT NA PALI KAUAI AND HAVE STILL HEARD NOTHING REGARDING SALE OR RENTAL INCOME. Anybody know anything new???

Kelly

I am also an owner and reached out to Jim Windam for the procedure. It turns out that when we moved, Jim never had the updated contact information. Once we straightened this out, Jim emailed me forms to sign, and later sent a certified letter for me to update and sign/notarize our signatures for the processing.

If you have heard nothing, Kauai Kid has Jim's contact info. I can't find it now, but you should contact Kauai Kid first and then Jim.

Hope this helps.
 

Kauai Kid

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I AM ALSO AN OWNER AT NA PALI KAUAI AND HAVE STILL HEARD NOTHING REGARDING SALE OR RENTAL INCOME. Anybody know anything new???

Kelly

Here is Jim Windham's contact info
Na Pali Owners LLC
A Hawaii Limited Liability Company
Manager, Na Pali Kauai Club
PO Box 730
Spring Texas 77383
713-931-1670 or 713-931-1650
na.pali.kauai.club@gmail.com

As Sargent Schultz said in Horgan's Heros "I know nothing" more

Sterling
 
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