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Newbie but very interested in Tafer/GarzaBlanca

Beach57

TUG Member
Joined
Apr 27, 2019
Messages
165
Reaction score
99
Resorts Owned
Paradisus Palma Real and Club Solaris Los Cabos
How did you find a bankruptcy contract to take over? I've been looking for a contract to take over for about six months now and can't find any. Everything is for sale and they are asking for ridiculously high prices for a resale contract.
BK Assets.com
 

SelingerNN

TUG Member
Joined
Oct 13, 2021
Messages
1
Reaction score
0
Resorts Owned
Garza Blanca - Puerto Vallarta
How did you find a bankruptcy contract to take over? I've been looking for a contract to take over for about six months now and can't find any. Everything is for sale and they are asking for ridiculously high prices for a resale contract.
Hard to find right now. Last year, Tafer announced their plan to stop selling developer contracts once they finish what is currently in their building plan - 2 more beach front buildings in PV, and the new Playa del Carmen property. After that, the only way to "buy in" will be to buy from an existing owner. Knowing that, a lot of existing owners have been upping their ownership in the last year - including buying up what others are selling, etc. Apparently, that's also why the resorts been so booked up for the last year - in order to buy from Tafer directly, you have to be physically at the property. Assuming they're not lying about the plan to stop building, we're holding on to our investment - hoping we can sell at some point without losing the $70,000 CAD we've put in. We have 2808 points per year; upped a little every couple years for the last 7 years; now with a 50 year contract (as mandated by the Mexican government).
 
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