Pt at Poipu Special Assesment

[Bloopie]

We are here now.
I was talking to a few other owners that sat in one the "owners update"
And apparently if you are unable to pay, to avoid foreclosure, you can sign over your deed at the resort right now and walk away.


Oh yeah, if you but into points, they will cover your special assessment.

Do you you know who to call to talk about deedbacks? I talked to a phone rep 2 days ago and they said no deedbacks. Please give me that that info. I am desperate to get rid of this timeshare.

 

[Bloopie]

The DRI phone reps are clueless about the deedback program. DRI only seems to talk about it at the DRI owner message boards.

Yesterday someone who was 15000 point owner in the Hawaii Collection posted their breakdown of fees for 2012.

Where are these DRI owner message boards at? I've gone to their website and couldn't find it. Nothing shows up on Google either.

 

[T_R_Oglodyte]

Where are these DRI owner message boards at? I've gone to their website and couldn't find it. Nothing shows up on Google either.

Log in at the DRI website, then click on the link for "Member Forums". You have to be logged in for the link to appear. It doesn't show on the general page.

 

[dougp26364]

Do you you know who to call to talk about deedbacks? I talked to a phone rep 2 days ago and they said no deedbacks. Please give me that that info. I am desperate to get rid of this timeshare.

As mentioned, the phone reps generally don't know about this. Try asking to be connected to the loss mitigation dept or, you could call the Point directly and ask them. If the sales team there is telling people deed back is an option you'd like to think someone there will know who to contact.

Keep in mind that, the reports from the past indicate DRI will require you pay 2013's MF's and pay the transfer costs for them to take the deed back. It's still going to cost you a years MF's but, if you're in a position that you don't want to face the SA then it might be the best offer on the table. I can't imagine it would be very easy to even give these weeks away on E-bay.

Keep in mind that I have not personally spoked with DRI about deed backs. I'm only speaking from memory about what I've read here on TUG and elsewhere. It's only a couple of ideas that might help you with your search.

 

[tschwa2]

If you want to try to do a deed back I would push hard for it NOW. DRI has said that the SA included a certain number of defaults in their calculations. If they are still letting some people deed back then more default, there will be additional SA's and increases in MF's. So if this is going to cause a death spiral it won't be quick and those holding on thinking they will be able to ride through the hard times to get a resort that was better than before may find themselves on the hook for $5000, $7000 or $10,000 or more for each owned week.

Also push hard for the board to call for a vote asking all owners to choose to close the resort or fix the resort. Get multiple estimates incuding reopening a smaller resort. DRI shouldn't get to resell the empty units that the HOA accepted deedbacks, on repairs paid for by the remaining owners.

 

[Farmtek]

I am suspicious any time I deal with timeshare people. I think there is more to this than appears on the surface. Why would a smart bunch like Diamond buy into a damaged property? What is Diamonds financial picture right now? What about an insurance company that will not pay? What about a roof repair that will cost 65 million dollars? Has anyone seen a copy of the insurance plan, or the response by the insurance company? Did the insurance company estimate the damages? Can we get an assessment of the damages by another source, such as building inspectors for the State of Hawaii? Should the owners be willing to shell out 65 million until we have a better picture?

 

[Bloopie]

I called loss and mitigation, aka collections, and they told me DRI was not accepting surrenders and have not for at least a month. This pissed the hell out of me because I've been wanting to get rid of my timeshare for years. I was told my only option was selling it. If I knew I could just surrender it, I would have done it a long time ago. This whole situation is sickening.

 

[Luv2Travel2000]

Email CEO and get a Call

Today I wrote an email to DRI CEO Stephen Cloobeck and within 30 mins a representative from his office, Sarah Hulme, called me. If anyone emails the CEO I bet they'll be called (maybe the next day since it's late now). It was a good time to vent. She listened, sounded concerned, and gave some generic answers. They are trying to connect. She strongly encouraged me to attend the meeting in San Francisco on the 20th and saved me a couple seats. Said a lot of answers with respect to the Water Intrusion Assessment would be forthcoming. So, if anyone wants to receive a call and talk, email stephenjcloobeck@diamondresorts.com. She or someone will answer whatever question you have. She also sent me her email address if I have any questions about the Special Assessment issue.

 

[petekrantz]

deed surrender

If anyone gets a actual human that will accept deeds back please let me know.
I have a feeling this is going to get more and more expensive, they have to make up lost revenue from "walk-aways" and if the go over budget on construction cost etc.....with water damage you have no idea what you have until the unit is stripped.

Thank you this forum has been great!!
petekrantz@cox.net

 

[cbecchetti]

Information on for those on site or that attend meetings

If DRI is only explaining options when you are on site or when you go to the events, then not all owners are being treated equally. I will be making a call or sending an email - I can't travel to CA from MN to discuss this and take time off work. With technology the way it is, why not do a virtual meeting, use skype, etc........

 

[T_R_Oglodyte]

I called loss and mitigation, aka collections, and they told me DRI was not accepting surrenders and have not for at least a month. This pissed the hell out of me because I've been wanting to get rid of my timeshare for years. I was told my only option was selling it. If I knew I could just surrender it, I would have done it a long time ago. This whole situation is sickening.

Thanks for the info. That's an update, because as of about a month ago they were still telling people at the Member Forums that DRI was accepting deedbacks if all fees were current, no loans were outstanding, current years fees were paid, and there were no reservations or other commitments made for the current years usage.

It's also possible that the deedback option has only been available to owners in a trust and not to deeded owners.

 

[bogey21]

What assurances do we have that enough owners will fork over enough money to do what needs to be done? My gut tells me that getting the money will be an expensive, drawn out process.

George

 

[Carolinian]

Doesn't DRI control both the management and the HOA board here? Are there any non-DRI nominated members on the HOA board? Don't the individual members have a majority of unit-weeks and therefore votes in the HOA? If you don't think DRI is treating you right, including stonewalling this info until the last minute, then it seems to me the way to go is to try to oust DRI members and elect an independent board. Of course, that is something that any timeshare should have in the first place after developer sales have largely finished.

So was the reserve grossly underfunded or what? I've never heard of such a significant SA. Any mismanagement going on?

I really feel sorry for multi-week owners.

 

[cgeidl]

Will this resort go bankrupt?

I can't imagine owners paying such a huge assessment as this.Your offer is extremely generous but this seems like a high risk resort with legal matters going on for years.The previos owner may also be sued for disclosure issues whether they knew or not. Great location and views. Lots of luck finding someone to take the risk.

 

[Beefnot]

Will the property be unavailable during their big renovation or will it be a section by section thing?

 

[Fisch]

Will the property be unavailable during their big renovation or will it be a section by section thing?

Looks like one building will go offline for 6 months until all are finished. Starting with Bldg 4 next fall.

 

[Carolinian]

Info on another board is that three of the five board members, a majority, are employees of management. This is a massive conflict of interest and should absolutely not be tolerated.

Also, apparently management and the board have been willfully violating Hawaii law for some time in refusing to give owners a membership list when one was demanded. Hawaii law, like that of most states, requires them to do so but they refuse. When you have management that is clearly prone to illegal behavior, as this example clearly shows, then you do have a real problem.

 

[pseda]

Hi Al:

My husband and I still find this whole thing astounding; especially when we've been paying for maintenance since resort inception 1995. Why was this not caught before it became so extensive? What type of maintenance was being done all along? We really question the denial by the insurance co as well. We'd like to see the letter from insurance company as well as actual policy coverage. Also, where are the notes that determined to not go after insurance denial vs deciding to assess owners this astronomical fee. Then, the audacity to just dump it on us with letter re: collections etc if not paid. This isn't how you do business and we find it terribly offensive. We have 7 weeks at the resort and now, can't even donate them away secondary to fee we don't approve of. Please keep us posted as to what's occurring re: this issue. I have searched many hours and unable to come up with other owners to see what the general consensus is.

Sincerely


Joan and Peter Seda
psedamd@charter.net

 

[pseda]

Please pass on information to us as well. We are so disillusioned that we are also ready to just walk away, even owning 7 weeks. The writing is on the wall as to the future and method of maintenance by Diamond resorts. What a disappointment!

Joan and Peter Seda
psedamd@charter.net

 

[pseda]

Would be chearper for DRI to go after the insurance denial!!

 

[lv_maui]

Owner's List

I have heard this about the infamous owner's list.

Recently, the governor signed new legislation that directly addressed this issue because the condo docs do state that an owner can have access to the list. However, giving the owner list out violates privacy rules.

It is my understanding that the law states that you must have the permission of the owner to be given a copy of their information as part of the list. So, DRI would have to ask the current owners if they wanted their information distributed to anyone that wants the owner's list. But why would DRI want do that for us with this in mind.

In the end, us as owners would have to have permission from the owners to be give the owners list. If we do not have the list to start with, we cannot get the permission!! It is as stupid as it sounds!!

Again, this is my understanding and why the previous Concerned Deeded Owners of PP group have really disappeared. The law has made it impossible to move forward.

Info on another board is that three of the five board members, a majority, are employees of management. This is a massive conflict of interest and should absolutely not be tolerated.

Also, apparently management and the board have been willfully violating Hawaii law for some time in refusing to give owners a membership list when one was demanded. Hawaii law, like that of most states, requires them to do so but they refuse. When you have management that is clearly prone to illegal behavior, as this example clearly shows, then you do have a real problem.

 

[pseda]

We, the owners, need an organizer who has the time to take this on. My husband and I work full time so can't do ourselves, but are willing to back someone. Is there someone who's stepping forward that anyone knows about. Can we start an owners list ourselves and get legal representation to take resort on?

 

[Kauaigrl00]

<<<Again, this is my understanding and why the previous Concerned Deeded Owners of PP group have really disappeared. The law has made it impossible to move forward.[/QUOTE]>>

I have heard that they may be making a comeback and have more help - it was too much work for the few that they had assisting them. I would still encourage owners to go to the site and find the contact persons and email them to let them know you are owners if you haven't in the past - maybe the only way they will ever get names - I believe there is only like 500 names so far.

http://poipuowners.org/Contact_Us.html

 

[pseda]

I read in the many blogs re: the water intrusion project that the builder was at fault etc. If you read information on the following website, you will totally understand why the resort is having issues. Poor maintenance planning, which we've all been funding for years/decades:

Cost Savings of Extending Useful Life of Major Property Components
prevent water intrusion and the resulting damage. Usually ... rior paint or seal is
mostly cracked, peeled and faded to the point water easily .... nual contribution)
less than the prior RUL projection of 6 years ($48000/6= ..... Villas at Poipu Kai ...

www.sandwichisle.com/docs/blog/2011-04-CAI-Newsletter.pdf - Cached - Similar


**Maybe this is why Diamond Resorts is trying to rush things through.

 

[Bloopie]

Here's an article I found. Maybe this explains why that group seems to have lost steam?

http://thegardenisland.com/news/local/article_62738842-25d1-11df-9bb8-001cc4c03286.html

Also, the owner's meeting in Irvine, CA is today. I wonder if there is anyone on this board that is attending it that can fill us in on what is said.

<<<Again, this is my understanding and why the previous Concerned Deeded Owners of PP group have really disappeared. The law has made it impossible to move forward.

>>

I have heard that they may be making a comeback and have more help - it was too much work for the few that they had assisting them. I would still encourage owners to go to the site and find the contact persons and email them to let them know you are owners if you haven't in the past - maybe the only way they will ever get names - I believe there is only like 500 names so far.

http://poipuowners.org/Contact_Us.html[/QUOTE]