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Re: DRI offering PT's owners Sunterra conversion (by Vicki R.):
We own a 2 bedroom unit at the Polo Tower Suites. We went through the sales presentation of Diamond Resorts. This is what we ended up with after a full day of negotiating.
1. We signed over our Deeds to two or our Five */Gold Crown resorts in Southern California, both two bedroom units. One is in Palm Springs and the other is on Capistrano Beach in Orange County. They in turn credited our account $4,500 x 2 = $9,000, towards the purchase of $3000 and the conversion to Club points system. The total cost, including all fees, to convert prior to credits was over $16,000.
2.We use our Polo Towers Unit every year. We own 13 weeks of timeshare in the US and Mexico. We also own rental properties in Maui at the Royal Kahana Resort which is full ownership, not a timeshare property. Of course, we are both retired and travel constantly.
3. We put $7500 on our credit card to pay the balance.
As I am writing this, I realize that we should have said NO to all of this. What do you think?
Vicki