Notice of special assessments- Grande Vista and other Florida MVCs??? [edit: Consensus is it’s a hoax/fake]

[RX8]

Reason # 5,349 as to why you should NEVER trust an exit company. Their whole business model is predicated on lies and scare tactics. This loser does both with their FB post.

 

[pedro47]

View attachment 96588
Reason # 5,349 as to why you should NEVER trust an exit company. Their whole business model is predicated on lies and scare tactics. This loser does both with their FB post.

Scam! Have anyone contacted MVC about this letter?

 

[RX8]

This guy is also a member of a “Timeshare Sales People” Facebook page. He recently posted about selling timeshare leads.

 

[LuvScience]

I tried reporting the posts on Facebook but it didn’t do anything yet that I can tell.

 

[billymach4]

I tried reporting the posts on Facebook but it didn’t do anything yet that I can tell.

Don't hold your breath for meta facebook to take any action

 

[dioxide45]

Don't hold your breath for meta facebook to take any action

I believe these reports go to the group owner, admin and moderators.

I did remove and ban him from the one group I am an admin over.

 

[MikeM132]

I know a lot of salespeople have been trying to sell owners on points by spooking them into there being huge increases in annual fees for Florida properties. It is quite possible this is just something that a salesperson made up themselves as a sales tool. Hard to say. It certainly could be possible, but the wording on it doesn't make sense. It all reads kind of fishy.

Agree with all. I own GV and received no letter. This *warning shot " tactic is a sales fear tactic. The desire by MVC to get owners to turn in weeks is real. The methods are truly low ball. In the pool at Ocean Pointe I have had numerous conversations with former multi weeks owners there who were talked into converting, and still go back there the same time every year. That is just dumb. The assessment is a real possibility, as are " temporary" MF increases as the new Florida rules kick in. This, I suspect, is a big deal short term but not the whopper it will be for the lower end resorts who may be looking at huge expenses for neglected infrastructure. As we know, this involves more than just fully funding reserves. There's an inspection component. I think Marriott will weather that part well. Last year we passed on 2 Hawaii weeks to our daughter. I'm trying to teach her about all this but lesson one was never, ever let anyone talk you into converting your weeks to points. Convert annually if you want but keep your deed. Still trying to get her on Tug. Easier to ask me, I guess. Marriott sales is not what it used to be.

 

[dioxide45]

Looks like they are up to it again in one of the Marriott Facebook Groups. They posted this, an obvious screen shot from the Vistana website. Odd (not really) that they posted as an anonymous user.

 

[dioxide45]

So here is a screen shot from a different group. Their screen shot shows it as WSJ Bay Vista. Perhaps a Bay Vista owner can see what they see on their account @GrayFal

 

[ljmiii]

So here is a screen shot from a different group. Their screen shot shows it as WSJ Bay Vista. Perhaps a Bay Vista owner can see what they see on their account @GrayFal
View attachment 96959

All I see on my Bay Vista deed is the MF and Tax. As I told the poster on FB, since there are interest and late fees I fear that the “other” is exactly what it says - Attorney and Collection Agency fees.

 

[dioxide45]

All I see on my Bay Vista deed is the MF and Tax. As I told the poster on FB, since there are interest and late fees I fear that the “other” is exactly what it says - Attorney and Collection Agency fees.

Thanks. I hadn't read all the comments. That makes sense. It seems someone took it to misrepresent the information in another Facebook Group.

 

[cubigbird]

It looks like the post has been taken down. It was there earlier but I can no longer find it.

 

[dioxide45]

It looks like the post has been taken down. It was there earlier but I can no longer find it.

Yeah, it must have been removed. I had it open and was trying to reply to it and got a message that it was no longer available.

 

[LeslieDet]

I believe they can still waive fully funded reserves for certain reserve items. The new restriction just applies to structural reserve items.

Remember the nuance when it is the MVC Trust requesting beneficial owners to waive the fully funded reserve requirement. It isn't the actual reserve for any specific property location, it is from the perspective of the Trust, as an owner of component weeks at many locations. The Trust is required to independently analyze the reserve requirements for its components, and, regardless of what a resort's HOA board and owners authorize, if the BI owners of the MVCI Trust do not waive the fully funded requirement, then the Trust itself is required to maintain those reserves, and thus the maintenance fees for the Trust are increased to maintain what the Trust has independently evaluated as being required for fully funding reserves for those particular components.

And, the waiver, if voted for by Trust owners, only applies to those component locations in which the required percentage of owners have actually waived the full funding. Thus, if there is a component location where the majority of owners did not approve the full funding of reserves waiver, then a vote by Trust Point owners to waive the full funding won't apply to that specific location, and the Trust will still need to maintain its own reserve levels for other component locations.

 

[Fasttr]

Thus, if there is a component location where the majority of owners did not approve the full funding of reserves waiver, then a vote by Trust Point owners to waive the full funding won't apply to that specific location, and the Trust will still need to maintain its own reserve levels for that component location.

If the component location did not waive the fully funding, that means that location would then be fully funded, and by its ownership in that location, the Trust would be fully funded already for that location. So why would the Trust need its own reserve for that location as you say they would.

 

[LeslieDet]

If the component location did not waive the fully funding, that means that location would then be fully funded, and by its ownership in that location, the Trust would be fully funded already for that location. So why would the Trust need its own reserve for that location as you say they would.

Thank you for catching my typo - I fixed it.

 

[GrayFal]

So here is a screen shot from a different group. Their screen shot shows it as WSJ Bay Vista. Perhaps a Bay Vista owner can see what they see on their account @GrayFal
View attachment 96959

Sold my 5 VOI at WSJ
But I agree with @ljmiii that since it is showing late fees, there are other charges involved.

 

[gln60]

Yeah, it must have been removed. I had it open and was trying to reply to it and got a message that it was no longer available.

Hi Jeremy..I’m just going over the letter I received fromMVC Trust Association about Casting a vote on waiving of reserve funding..which is what the board of directors recommend….Whats your take on that advice..we own a 2BR at Harbour Lake..thanks in advance