Sunset clause vote at The Beach Club at St. Augustine Beach

[moonstone]

We bought a 1 bedroom unit here pre-construction (& before kids) in 1982 for $2,500.00 . We only realized a few years ago that it had had a sunset clause with a date of March 2024. The owners have been voting for quite a few months with a deadline of (I think) March 1st to cast our vote to continue as a timeshare or sell the property and divide the proceeds. The Board got estimate of what (at todays prices) the place would sell for, and what each owner would get after all expenses if the place was sold, and the estimate was $4-5,000. for a 1 bedroom.
The votes were tallied and released at the Board meeting on Friday and the overwhelming (+75%) majority of owners voted to continue as a timeshare.

So even though we don't need this timeshare anymore, since we now have our condo up the road, The Beach Club will continue for another 10 years until another vote is held. We love this place, and the location is terrific, but did hope the vote would be the other way to give us an easy out, and a bit of pocket money.


~Diane

 

[TheTimeTraveler]

Now that some sort of value has been established then maybe another owner may be willing to fork out some cash to take over your unit ???

This scenario would best work with an existing owner recognizing the perceived value. An outsider would likely never do so.....




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[Dori]

Diane, that is how we divested Harbour Inn, at Lagoon City. Owners voted to sell the resort to Knights Inn and the profits were divided among the owners. We owned 2 studio units that we purchased in 1990 for a total of $2001. In 2012, we got a cheque for just over $1300. We got so much mileage from exchanging our weeks, and enjoyed all those years of travelling to different locations.

The timing was perfect, as we bought our mobile home in Florida in 2010, so we really didn’t need the weeks any more.

Dori

 

[moonstone]

Diane, that is how we divested Harbour Inn, at Lagoon City. Owners voted to sell the resort to Knights Inn and the profits were divided among the owners. We owned 2 studio units that we purchased in 1990 for a total of $2001. In 2012, we got a cheque for just over $1300. We got so much mileage from exchanging our weeks, and enjoyed all those years of travelling to different locations.

The timing was perfect, as we bought our mobile home in Florida in 2010, so we really didn’t need the weeks any more.

Dori

Yes, I remember when the Harbour Inn closed (we are not too far outside of Orillia). I was hoping for a similar situation, heck we did not even mind if we didn't make any money over our original purchase price. We figure we have got our moneys worth out of this timeshare many times over.

I think it was 2010 that we bought our condo, but we never slept in it until last November as it was rented out unfurnished on annual leases so we continued to use our week at TBC right up until last fall. I booked our 2021 & 2022 weeks back to back so we had somewhere to stay near the condo while minor renovations, painting were being done and we furnished it.

Now that some sort of value has been established then maybe another owner may be willing to fork out some cash to take over your unit ???

This scenario would best work with an existing owner recognizing the perceived value. An outsider would likely never do so.....




.

It is quite possible. There are many folks who don't live too far away that use TBC for their summer beach vacation or to put up visiting relatives. Owners also get day use privileges when the resort isn't booked solid. We managed to rent out this year's week after our DS's vacation plans got changed by his employer, but we will likely post the unit for sale on the bulletin board at the resort to see if another owner wants to add to their collection.


~Diane