Original Message:
Manhattan Club Owners - what's with developers having "first refusal"? (by Cyndia S.):
We have owned at the Manhattan Club for just about four years now. We were naive and not well informed about how to deal with timeshare sales, buying in at $27,000. We bought the executive suite for annual use, which includes one weekend per year and the option of breaking our week up in to a 3 day stay + a 4 day stay. That said, we were told during our closing that, if we ever chose to sell, the developer would have first refusal in buying our time back from us until every timeshare was sold. They said very convincingly this would probably occur within a year or so....NOT SO! Anyway, we were considering selling if we could get back what we paid but I am seeing people on Redweek offering up their units that have similar specs as ours for much less than we paid. How can there be such a variability on the prices people are charging and can anyone further educate me on what this "first refusal" catch is and when, if ever, this expires? Thanks very much in advance. P.S., it should be said that, since we bought at the MC, we have used exchanges and not stayed in our home unit since we pretty much can go to NYC any time we want to and doubt we'd want to stay a whole week due to the high costs there!