Is this a common arrangement?
Resort developer gets into financial trouble and resort ends up with new owner.
New owner offers existing timeshare owners a reduction of maintenance fees from 850 biannually to 125 annually in exchange for switching from II to RCI and a payment of $5000.
Or at least that is how I understand the proposition.
Seems unlikely to me that a resort owner would willingly switch from 850 biannually to 250 biannually in exchange for a one time $5000.
Might this just be an attempt to get a new purchase price of $5000 for the timeshare from the same owners who paid thousands as the original purchase price to the original developers. Without concern for whether the thing can last on $125 per timeshare per year?
Resort developer gets into financial trouble and resort ends up with new owner.
New owner offers existing timeshare owners a reduction of maintenance fees from 850 biannually to 125 annually in exchange for switching from II to RCI and a payment of $5000.
Or at least that is how I understand the proposition.
Seems unlikely to me that a resort owner would willingly switch from 850 biannually to 250 biannually in exchange for a one time $5000.
Might this just be an attempt to get a new purchase price of $5000 for the timeshare from the same owners who paid thousands as the original purchase price to the original developers. Without concern for whether the thing can last on $125 per timeshare per year?
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