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Oceancliff owner seeks advise

e.bram

Guest
Joined
Jun 6, 2005
Messages
3,245
Reaction score
154
Location
Fort Lee, NJ
I own week 9 at Oceancliff in Newport. I paid $ 300.00 plus $200.00 closing costs about 2 years ago. I was informed there is a $2000.00 assesment. I found out that of the 2288 units only about are 1900 are owned and paying maintenence. My fear is that since the majority of units are off season and not even worth the assessment, even more units will be abandoned making the TS not financially viable. Also all the renovation will take place durring October and May, making the MY next two years of occupancy hell living in a construction evionment with the ensuing noise and dust. (it happened to me once before).
My question is what are the possibe consequences of me bailing out now(not paying anything) and what is the worst case scenario of such an action.
Iwould also like to hear from other Oceancliff owners(if any see this post) or other TS owners who are expierencing or have expierenced this in the past.
 
I would expect a majority of Oceancliff owners would agree that the units need some serious upgrading. And the groundwater problems that flooded the bottom floor can't be ignored. The assessment would be less, however, if all the weeks were paying the maintenance fee. What is the board's plan to get them all paying? Have you been involved in any board matters before this?
 
bawl: I feel your pain! I own a red week there and just paid the first installment of $750 a few days ago. I am trying to be optimistic. It has a beautiful setting and if it is upgraded according to their plan it should be quite lovely. I will say I have received many excellent exchanges thru II using the week, one of which was to Marriott's I'lle de France in Sept. of 2005.
 
I don't own a red week and do not want to contribute to enhancing the value of the red weeks at my expense. My unit will be worth the before and after the renovation.
 
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