Resale Maintenance fees after feb 21

[kenojg Junior Member Find all posts View Profile Close kenojg]

Does anyone know for sure the maintenance fee policy post Feb regarding accounts that originally have the new maintenance fee structure $290/year plus $.027/point. If you buy resale (not from an authorized reseller) after Feb 21 and you buy a points contract with the new maintenance fee structure, will BG only charge you the $290 one time or will you get charged the $290 twice?

For example

Hypothetically I own

10,000 pts and maintenance is $290 plus 270(.027/point) = $560

Now, I buy another 10,000 points resale with the new maintenance fee structure to total 20,000 points.

Will I again have to pay the $290 for each 10,000 points, or will I just have to pay the $.027/point on the extra 10,000 points?

I have heard both scenarios but I was wondering if anyone had closed since Feb 21 to have some first hand experience.

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

Does anyone know for sure the maintenance fee policy post Feb regarding accounts that originally have the new maintenance fee structure $290/year plus $.027/point. If you buy resale (not from an authorized reseller) after Feb 21 and you buy a points contract with the new maintenance fee structure, will BG only charge you the $290 one time or will you get charged the $290 twice?

For example

Hypothetically I own

10,000 pts and maintenance is $290 plus 270(.027/point) = $560

Now, I buy another 10,000 points resale with the new maintenance fee structure to total 20,000 points.

Will I again have to pay the $290 for each 10,000 points, or will I just have to pay the $.027/point on the extra 10,000 points?

I have heard both scenarios but I was wondering if anyone had closed since Feb 21 to have some first hand experience.

Nobody knows for sure yet since there have been virtually no escrows submitted after Feb 21 that have closed yet. With these types of changes, you will only know what really happens once several people report on what happened vs. what they were told would happen. That will happen by the end of summer.

I was told by an official Bluegreen rep on March 20 that accounts will combine as always and that an individual account will NOT be charged the extra $290 fee. However, I was also told that they may stop this practice sometime in the future. And, when they stop the practice, you will most likely also be charged an extra Bluegreen annual fee. That would add $400/account/year.

My view is that Bluegreen will stop allowing combinations of accounts unless you purchase from Bluegreen or a Bluegreen authorized reseller. Not sure when it will happen, but I expect it will.

If it happens, it will either be done quickly or slowly. That's because if they do it quickly, they can argue that it was part of the Feb 21 program. If they don't do it by the end of summer, then I think they would have to issue another policy enforcement statement. And, when they do that, they tend to grandfather everyone in.

This is just my guess.

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

I forgot to mention. There are several ways to ensure that accounts will combine. If you are interested, send me a PM and I'll let you know the options.

[kenojg Junior Member Find all posts View Profile Close kenojg]

Thank you.

On another note, has the logjam cleared at Resort Title?

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

Thank you.

On another note, has the logjam cleared at Resort Title?

No, it's still logjammed. But, at least they are starting to return phone calls now. There are people now assigned to process paper whereas for a while there, it seemed that hardly anyone was doing anything on existing transfers.

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

I asked Bluegreen for additional clarification on this issue. They told me again today (April 30, 2007) that there is no change to how accounts combine for now. However, I was also told that this specific topic is up for discussion at the executive level. So, things could change at any time.