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Vida

raygo123

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I called them to find out how much do they charge for you to accept my contract, 6000. Now that I think about it might have been the Paso. Has anybody ever sold one?

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MuranoJo

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Ray, it varies by contract (and I'm assuming you mean the transfer fee?).

So your contract should state the transfer fee. Some of the older ones are only one current maintenance fee, others can reach into the thousands. Usually it's stated in USD, not pesos.
 

tschwa2

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Some are 10% of the original purchase price. Some are 5 and even 10 times the current MF's. Only very early contracts are the single MF.

It sounds like you are asking about a deed back. I would imagine at minimum they would charge you the transfer fee.
 

raygo123

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I'm suspecting its the 10 X maintenance fees. I bought it in about 2000 maybe + or - two years. They had just gone from every 15 years having to renew your contract, which cost around almost half of what you paid to just a couple hundred dollars. 8 times mf would be $6000.00. And yes I did mean transfer fee. Little blurry back then, sick, so that's about $3000.00 per unit. Don't think I'll be selling soon. Lol. Nice thing no mf unless you use.

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MuranoJo

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It's important to check your contract (and if you bought resale, hopefully you got a copy of the original contract--if not, you could try calling them).
If you really got your membership in 2000 +/-, you could very well be one of the only 1 m/f for transfer fees. Mine is a '99 contract and it's only one m/f for transfer.
 

pittle

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I have posted this information several times in the past few years, but I have saved it so that when it keeps coming up, I can find it.

Before August 2002, transfer fees for Mayan Palace units were the cost of Maintenance fees for 1 year. The Vacation Fair week transfers with the contract. (A large majority of these have now upgraded to Grand Mayan and their old units are sold with the new terms.) Contracts were renewed every 25 years for up to 100 years (5 MF each time) and there was a 5 year Renovation Fee that was equal to a Maintenance Fee.

From August 2002 - November 2005, it was 10% of the original purchase price. The Vacation Fair week does transfer with the contract. I am not sure they started selling Grand Mayan units before 2003. This was the information for Mayan Palace that was in a contract that we had. This also has the 25 year renewals (5 MF) and 5 year Renovation Fee of 1 MF.

The 5 times the MF to transfer (sell) to another person started in late 2005, just before we upgraded to two GM 2-bedroom units in April 2006. These also had a 5 year renovation fee that is equal to 1 MF. The no pay unless you go feature was new in 2006, but came with an addendum that if you transferred your contract to someone else, the Vacation Fair (bonus week) and the no pay unless you go feature does not go with the transfer. This also had the 25 year renewal fee of 5 MF.

In 2008, there were some contracts that still had the 5 year renovation fee that was then 1-1/2 the cost of your MF, and still had the 5 times the MF to transfer to someone else. These also had the 25 year renewals.

I am not exactly sure when, but by the time we upgraded to the Grand Luxxe in 2013, the cost to transfer your week to someone else had gone up to 10 times the MF and none of the special benefits, especially the no pay unless you go and extra weeks go with the transfer. The new contracts have some 10 year renewal options which seem to change regularly.
 
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raygo123

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Well I found my contract and it 10 times user fee, which is $7250.00 if I sold the unit. So I would have to get more than that. Lol. Also, must renew every 10 years for half use fee, since I own two 1 bedrooms, that would be $750.00. Can renew 9 times for a total of 100 years.

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MuranoJo

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Ray, that must be a newer contract? At least it doesn't seem like the older 2000 +/- contracts, nor does it fit with the excellent summary Pittle has posted above.
 

raygo123

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Yea I forgot, upgraded 2011. Pittle spot on that was great. Really helped. Upgraded when I went there last.

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rpennisi

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Well I found my contract and it 10 times user fee, which is $7250.00 if I sold the unit. So I would have to get more than that. Lol. Also, must renew every 10 years for half use fee, since I own two 1 bedrooms, that would be $750.00. Can renew 9 times for a total of 100 years.

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The 10X mf or the old 1X mf transfer fee if sold is paid by the buyer, not the seller. However, sometimes the seller pays the transfer $$ instead of the buyer to get out of the contract.

I bought two contracts on Ebay, one where I paid 1 mf, and the other 10% of the contract's original price.

Vida is very slick making the transfer 10 mf. They make on the sale and on any transfer by an original owner who already paid way too much in the first place.

Ron

PS As always, Phyllis is a great source of info.
 

raygo123

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Well not too bad, for retail, bought 2, 1 bedroom units a real 1 bedroom for 17,000. Plus a third for 10 yrs. Finally no mf unless you use. They are legit, have the largest developer as the owner. Great return from RCI, they pay the fee.
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