Newbie Question about Silverleaf

[Leturno]

Hey all, I have been around for years but I have an actual NEWBIE question about Silverleaf Resorts. I have tried to get this one answered at members updates and from other sources but have not found a 'OH THAT IS WHY' answer. Or more specifically "oh that is why they legally can" type of answer.

Why do Silverleaf Resorts not have Home Owners Associations or something similar?

The closest to an answer I received was from a sales guy at a members dinner. He said "oh they would never do that". But I can't see why the owners by law wouldn't one day take ownership of the resort from the developer? Isn't this standard in the condo industry, timeshare or not?

This may not be true at all Silverleaf resorts, we own at Fox River in Illinois and have bought and sold units at Holiday Hills in Branson, MO. I have never seen a mailing or suggestion that any figment of a HOA or VOA exists.

Scott

 

[ecwinch]

Hey all, I have been around for years but I have an actual NEWBIE question about Silverleaf Resorts. I have tried to get this one answered at members updates and from other sources but have not found a 'OH THAT IS WHY' answer. Or more specifically "oh that is why they legally can" type of answer.

Why do Silverleaf Resorts not have Home Owners Associations or something similar?

The closest to an answer I received was from a sales guy at a members dinner. He said "oh they would never do that". But I can't see why the owners by law wouldn't one day take ownership of the resort from the developer? Isn't this standard in the condo industry, timeshare or not?

This may not be true at all Silverleaf resorts, we own at Fox River in Illinois and have bought and sold units at Holiday Hills in Branson, MO. I have never seen a mailing or suggestion that any figment of a HOA or VOA exists.

Scott

Most timeshare resorts do have an HOA or VOA, and they typically are registered as a non-profit corporation in the state the resort is in. Do you have any of the paperwork from when you purchased at Branson? If you purchased from the developer, you should have some documents marked Declaration and/or Public Offering Statement. Contained in that paperwork, should be something referencing a non-profit corporation or by-laws.

EDIT: I also see that there is a Silverleaf HOA section over on timeshareforums.com.

For Missouri, it does show a non-profit corporation registered as:

Silver Leaf Home Owners Association, Inc.

Listing the Agent as David W. Walker, the President as John Jordon, and the Directors as Dave Jones, John Benjamin Jordon, and Lisa Jordon. Not sure if this for the resort or something else. A similarly named corporation is also registered in Illinois.

Here is the link to the filing:

https://www.sos.mo.gov/BusinessEntity/soskb/Corp.asp?2250768

If you do not have any of the documents, you could start by sending a letter to whatever party is billing you requesting a copy.

In reading the Silverleaf Resorts Annual report, it states that each resort has a homeowners association.

 

[Leturno]

wow amazing detail!

Wow amazing detail, thank you.

I will have to look into how that affects us here in Illinois at Fox River Resort. I'm just thinking long term ;-)

Scott

 

[Hophop4]

I have never heard of HOA with Silverleaf either. As for Holiday Hills in Branson there are two areas within the resort that is owned by private owners and is not part of the timeshare. Could this be what the HOA in Branson is for? Also Ozark Mountain Resort has a section that is owned privately too. I have some original documents, I'll see what I can find.

 

[Leturno]

Thank you Hop

I know I could have asked the Silverleaf group on this but I wanted to throw a wider net for information. If you come up with anything please do share it here and in the Silverleaf yahoo group.

Scott

 

[Stayce]

No HOA at Silverleaf

I am a Silverleaf owner and from what I have "heard' is that Silverleaf only sells 49% of its' units so that they can keep complete control.

I cant remember when or from whom I heard this.

 

[Jimster]

Silverleaf

Well, you must be a reasonably new owner of Silverleaf. Silverleaf is more than a little different from most other timeshares and generally not in a good way. They have no intention of having a HOA because if they did they might loose control and a loss of control would mean a loss of profits because a HOA would attempt to force improvements in the way their owners are dealt with. First, one of their favorite "marketing techniques" is to add levels of membership thereby devaluing the original membership. They have done this at least 3 times. They also refuse to participate in Points for Deposit even though the worse that could happen is that some of their members could benefit- but they would receive no financial compensation. Although I don't have figures on this, I suspect they also benefit substantially from reselling foreclosed properties. They sell to a much broader market than most TS's and the result is people who can not afford them buy them and are foreclosed upon. As a owner myself, I would never recommend them to anyone else- except maybe people I don't like.