[2008] Grand Regina Villa Cabo San Lucas [Not Starwood]

Question answered

Three questions.

1)Please define equivalent. Will it be the same timeshare that I traded in to buy the villas or a better one?

2) Retain the right to our villa ownership. Who owns the villa now? Starwoods or CR resorts?

3) What does having access right mean? What does that cost if I decided to visit for a week?

My counter-proposal :

1) full refund to be paid out over four years
2) Get my timeshare membership back with no maintenance fees until the full refund is paid

I hope to have answeres to my questions returned.

ANSWERS;

1) Sapphire. Yes. Same.
2) Starwood owns the Villa land and the rights to develop the Villas.
3) You may use additional RVC time (over and above your Sapphire) by simply paying the applicable maint fee.

CR Resorts Holding, S. de R.L. de C.V. cannot accept your counter proposal.

Sincerely,
Brian Tucker
Authorized Agent
CR Resorts Holding, S. de R.L. de C.V.

Grand Regina Villas

Like many who purchased a Villa, I'm madder than hell! I traded my Club Regina timeshare plus cash. Now nearly 4.5 years later, I'm being offered 25% of the net cash price, an equivalent RVC membership (subject to paying annual maintenance fees) to the one I traded and the ability to maintain ownership to the Villa that may or not be built sometime in the future.

Has anyone received a more "generous" offer? If so, I would be interested in knowing what Raintree has agreed to in order to settle this mess!

I'm confused. Are they offering you 25% of the net cash price and an RVC membership for you to agree to wait longer and "trust them" or are you to part ways after the transaction completes?

Both options stink but they are not quite the same.

It's basically 25% back (but paid over 2 years, every six months!). The balance is credit towards a Raintree purchase.

People can elect to take nothing and wait for the project to be completed. People can also elect to thrust a stick in their eyes!

In the end, the purchasers have very, very little leverage.

All I can offer up is my sympathy.

A somewhat similar and even more egregious situation is that Donald Trump was involved with a condo project in the Baja region of Mexico. According to recent news articles, some people put down deposits as large as $200K two or three years ago, now the whole project has folded, Trump says his name was used incorrectly, lawsuits are flying, and supposedly ALL the money is gone.

http://www.heraldnet.com/article/20090307/BIZ/703079911

Buyer beware in Mexico!

Grand Regina Villas

To clarify my post on 03/27, I listed "one" option with all of the following to apply:

1) A 25% refund of the net cash purchase exclusive of the Club Regina Timeshare Membership traded toward the gross purchase of the villa. This amount is payable in one payment within 90 days of the date I accept their proposal; and

2) Reinstatement of my CR timeshare membership with annual maintenance fees payable; and

3) Maintaining ownership of my villa rights if or when they are ever constructed by Starwood, Raintree or any other entity.

There was another option available and it provided a 35% refund payable over a 4 year period, an upgrade from a Gold to a Platinum RVC membership with annual maintenance fees payable and ownership of the Villa rights would be relinquished.

None of these are great options but under the circumstances, however, I think getting 25% of my money back in 90 days is a better option than 35% being paid out over a 4 year period.

Update on Grand Regina Villas Project

For anyone interested, you can go to this site and get the latest on this project and the lawsuit. http://www.cabogateway.com/rentals.html
This group of owners has every intention of seeking full restitution and justice
from both Starwood and Raintree.

Good luck to you. I can't even imagine how angry I'd be at how poorly you were all treated by Raintree.

Update on the Cabo suit.

The suit (Charles Adams, et al. v. Diamond Resorts Interntional, et al.) is still grinding through the court system. 249 separate plaintiffs. Several defendants but the two main ones are Diamond Resorts International and Starwood Vacation Ownership.

The case was removed from the Circuit Court of Cook County and is pending in the US District Court for the Northern District of Illinois as Docket No. 10-CV-03264. The suit has not been dismissed as to either Starwood or Diamond Resorts.

Right now the plaintiffs and Diamond are fighting about the degree of relatedness of Diamond Resorts International to its alleged wholly owned subsidiary, DTI. Diamond says there is not a sufficient degree of relatedness for Diamond, rather than DTI, to be a party.

Starwood is defending saying that venue of the dispute lies in Mexico since all of the plaintiff/DTI contracts to purchase so provide.

DTI collected earnest deposit money on purchase contracts and failed to properly secure the escrow of it. Some of the missing money has allegedly been traced to Diamond. Diamond is alleged to have paid off existing debt to Starwood with the missing earnest money. It is also alleged that Starwood took the money from Diamond knowing full well where it came from (the escrow). Starwood never took any money directly from the plaintiffs. It claims it was merely a joint venturer with Diamond to build the timeshare so that DTI could fulfill the existing contracts - but the economy turned sour and it pulled out of the joint venture and it had never assumed any duties or made any binding promises to the plaintiffs.

Diamond offered a partial repayment which was rejected by the plaintiffs before they filed suit. Starwood has never offered any amount of money back to the plaintiffs.

It looks like both main defendants are now trying to exhaust the resources of the plaintiffs (and their counsel) by raising these two defenses. They are fighting this suit; they do not look like they will cave.

Hearings on both issues (relatedness and venue) should take place soon. Disclaimer: one of my business clients and his wife (I am also good friends with his attorney father) are plaintiffs in the case. ... eom

any updates to Grand Regina

sorry to come years later but if this suit still exists could you update info. I merely won an auction to two weeks, transfer paid and this years (2014) fees paid, Had to grant POA to resort rep to process beneficiary trust transfer.

any info would be helpful.... going there in fall.

nevermind

johnrsrq said:

sorry to come years later but if this suit still exists could you update info. I merely won an auction to two weeks, transfer paid and this years (2014) fees paid, Had to grant POA to resort rep to process beneficiary trust transfer.

any info would be helpful.... going there in fall.

Click to expand...

I decided to stop the purchase of this at basically $0. as the time wore on for the sellers to get the paperwork- 4 + months, and the unknown of how a delinquent new owner might be dinged (credit) in the future for non payment of this Mexican PVR aka fractional ownership. I rescinded the POA given to resort official to sign on my behalf and await my going to property to inspect.
The sellers would not wait for me in 90 days as I have waited 120.

Now, the Title company wants a closing fee or Apostille fee of $50 and document fee of 350. for my not willing to go on with this mess. Not sure to all but I think if you haven't closed in almost 4 months, not the buyers proble but I shall see. And whatever offer for me to go there, not on their dime, inspect and then buy, is now, off the table.

Grand Regina and Club Regina in Cabo

I am currently staying at Club Regina called Raintree Vacation Club now. We went up to visit the Grand Regina section the other night to watch the sunset from their deck. The fractional ownership section of resort is complete and beautiful. I do not know about the Villa project that was discussed on this posting. Our timeshare section is beautiful and the staff is wonderful. We are having a lovely vacation. Our resort is on the corridor about 1/3 of way from San Jose toward San Lucas. We love it here, but it helps to rent a car if you want to sight see.

I was in the process of buying here, from a generous ebay offering: thankfully you all, convinced me to get out, while I could!!

Nice offer though, all fees paid, 2014 usage, $700 Visa card, etc.