Posted by:
Dean
(---.dsl.ksc2mo.swbell.net)
Pat, that clause in your contract that holds maintenance fees down (I'm not sure if it is tied to the cost of living or not) is valuable but it can be gotten around. I own a timeshare in Edinburgh, the Edinburgh Residence. I bought it in 1999, when the miantenance fees were around 200 sterling (and sterling was around $1.40-$1.45 to the dollar). I specifically asked about what governs maintenance fees and was shown a clause in the constitution/contract that held maintenance fee increases to the cost of living in the U.K. This was the main reason that I bought there (besides liking the resort and Edinburgh). In 2001, the resort went into bankruptsy. It emerged in 2004 from bankruptsy without the clause and a maintence fee of 500 sterling (with the pound at around $.84 to the dollar, this cost me around $920 for 2006). They efectively made my timeshare there worthless. No one will buy a unit with maintenance fees that high. If I were you, I would check local laws and see under what circumstances the owner of the Towers can get around that clause. Concerning Sapphire, where I own 3 weeks, they could be better maintained and staff could be better at communicating but the maintenance fees are not yet out of line and that is my major concern with owning timeshares at the present time.