Westgate - Club Orlando Sale!?!

[ILMpax]

Hello All!

I am new to the group and wanted to see if there was any advise for my situation and to see if there were any Club Orlando owners on the board getting the same letter I am.

Long Story short - Inherited a Club Orlando Timeshare years ago, have a deeded property there, used it to trade every year and all maint. paid every year. All in good standing... Yesterday I get a letter from Westgate. They are selling the property and need me to sign over my deed in a "Quit Claim Deed". My Deed is 1/1040 interest in the building so if they sell for 1 million then my piece is worth $950 or so.

They are going to pay me a whole $10 to buy me out and I get one week stay at a Westgate resort.

I am laughing but I am interested in hearing from people that might have gone through this. My next step is to send them counter offer but I will post the saga here

 

[silentg]

If you are entitled to $950. Why settle for $10.00?
Only ever hear bad things about Westgate. I just read the letter. Sounds like they want you to buy another timeshare? Might be best to take the $10.00 and end affiliation with them.
What are you planning to do?
Silentg

 

[ILMpax]

They are planning to sell the property it looks like but of course Westgate is not giving much detail more than the letter that I loaded into this thread. This is classic negotiation. Start low some will bite, some will not. I am guessing that the property will sell for a million or more but I am certainty thinking that my interest is worth more than $10

Like I said I was not sure if anyone here has gone through a sale like this of a deeded property before....

If you are entitled to $950. Why settle for $10.00?
Only ever hear bad things about Westgate.
What are you planning to do?
Silentg

 

[Maple_Leaf]

This might be a golden opportunity to escape the clutches of Wastegate. If you wait for your $950 and have to pay another year of maintenance fees to do so you may only net your $10 anyway.

 

[ILMpax]

That is a very good point. From what I have read on another thread where someone got a letter in 2016 that seems to be a good option. I am going to keep researching for now and my maint fee is due Dec 31 so I have time but more than likely I will take the "$10 deal" and move on!

This might be a golden opportunity to escape the clutches of Wastegate. If you wait for your $950 and have to pay another year of maintenance fees to do so you may only net your $10 anyway.

 

[mj2vacation]

Take the $10 and run!!!

 

[taterhed]

Put the Wastegate in the rear view mirror.

$10 is enough gas to get you out of that property!

Run baby run!

 

[Panina]

Hello All!

I am new to the group and wanted to see if there was any advise for my situation and to see if there were any Club Orlando owners on the board getting the same letter I am.

Long Story short - Inherited a Club Orlando Timeshare years ago, have a deeded property there, used it to trade every year and all maint. paid every year. All in good standing... Yesterday I get a letter from Westgate. They are selling the property and need me to sign over my deed in a "Quit Claim Deed". My Deed is 1/1040 interest in the building so if they sell for 1 million then my piece is worth $950 or so.

They are going to pay me a whole $10 to buy me out and I get one week stay at a Westgate resort.

I am laughing but I am interested in hearing from people that might have gone through this. My next step is to send them counter offer but I will post the saga here

Welcome to tug.

Take the $10 and get rid of it. If you don’t when the time comes and you want to get rid of it you might not be able to as many consider Westgate not desirable.

If you want to continue timesharing you can find one more desirable that is free.

Stick around and you will be amazed of all you learn.

 

[StevenL]

I also own a week at Club Orlando.

In the first letter they sent they said in addition to the $10 for the "quick claim deed" (some payment or consideration as it is called in legal terms is required in any legal transactions), they offer to give me a certificate for one week (they say a $1400 value) at any Westgate Timeshare to be used in the next two years (subject to availability).

I was thinking it over since I think it will sell for more than 2 million (tax records show the tax assessment value is $1,288,980 http://pt.octaxcol.com/propertytax/...tillDue=false&UseTaxRollOwnerAndAddress=False and these are usually less than market value) there is $297,542 in escrow (all those fees we have been paying every years to replace the roof, parking lot, furniture, etc) will have to be divided between the owners us and Westgate who already owns most of the weeks.

So i have not return it and I just got an email saying they were sending me a second offer and they they where upping what they are offering. I will not see that till next week because I'm staying with my family at Club Orlando right now (kind of funny).

I will post what they offer when I see it.