• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 30 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 30th anniversary: Happy 30th Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $21,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $21 Million dollars
  • Sign up to get the TUG Newsletter for free!

    60,000+ subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

Raintree Special Assessment for new buyer?

ski-lovers

newbie
Joined
Jul 26, 2009
Messages
6
Reaction score
0
Points
0
Location
Illinois
I just bought two Platinum memberships on ebay this week. According to Raintreelistens.com I should expect a special assessment before the end of the year. If the SA is issued before closing is complete, whose responsibility is it?

On another note, I'm excited to join you all as a timeshare owner. I look forward to learning more and plan to buy others when the opportunity arises.

Thanks, Brian
 

sjuhawk_jd

TUG Member
Joined
Dec 7, 2005
Messages
1,659
Reaction score
10
Points
398
Location
Philadelphia
Usually, any assessment issued after you sign the document for sales is your responsibility. However, if this is important to you, clarify this with the seller. Most likely seller will not have any clue about this and the reply may benefit you in the end. There should not be much complaints from your side even if you end up paying the assessment given the prices you are paying for these platinum weeks. I own 5 weeks with Raintree.
 

ski-lovers

newbie
Joined
Jul 26, 2009
Messages
6
Reaction score
0
Points
0
Location
Illinois
Special Assessment

Thanks for your reply. I just think this situation is a little unusual considering the SA was issued and then withdrawn but expected to return. The seller should be aware of that fact but nothing has been disclosed. I do plan on bringing it to their attention.

How was the Miner's club in the summer? We stayed at the Canyons this winter when we skied in Park City. We thought it would be great to visit in the summer, too.
 

PamMo

TUG Review Crew: Veteran
TUG Member
Joined
Jul 17, 2006
Messages
5,197
Reaction score
3,024
Points
648
Location
Missouri
Read your sales contract. Most state that the account is current and that the buyer agrees to pay all future MF's and any other charges. Raintree is going to issue a special assessment, you know about it - and presumably knew about it before you bought the two platinum memberships. Nobody knows exactly when it's going to be reissued, or for how much, so I highly doubt the seller is expecting to pay it. Even with paying the special assessment, you got a great deal - a platinum membership was selling for thousands of dollars before the assessment came out (which was one year's MF).
 

T_R_Oglodyte

TUG Lifetime Member
Joined
Jun 6, 2005
Messages
16,117
Reaction score
8,064
Points
1,048
Location
Belly-View, WA
Does anyone know the status of the special assessment within the Raintree system?
It was issued, and was due for payment on Feb 25. There are several payment options.
 

T_R_Oglodyte

TUG Lifetime Member
Joined
Jun 6, 2005
Messages
16,117
Reaction score
8,064
Points
1,048
Location
Belly-View, WA
Was the full amount of the assessment about equal to a years maintenance fees.
Generally, yes. Payable in a lump sum, four quarterly installments, or 12 monthly payments. No finance charges for picking an installment option.
 
Top