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Original Message:
Neptune Debacle Redux? (by KC):
royinec wrote:If I recall correctly, you previously bought into the untimely attempted (and only partly successful) conversion of the former Neptune Motel in FMB into timeshare ownership.Hi, I just received a letter about buying my timeshare in Fort Myers Beach. It sounds legit. I will of course take a 50% loss. It seems they have bought other units there. What if anything do you know about this company? It maybe an answer to a prayer even with the great loss,but it seems to beat a blank! Thanks for your time and advise. R. Chamberlain
The original investors went belly-up and a new bunch from the midwest moved in to try to pick up the pieces. It COULD be that this new (third) entity is trying to move in as a third generation of "investors" to gain a controlling interest in this financially distressed timeshare enterprise.
If you can bail out for only a 50% loss on your original purchase on that failed Neptune debacle, I personally wouldn't hesitate. That said, however, I would make it crystal clear to these alleged "buyers" that you will pay NOTHING MORE out of your pocket --- NOTHING --- not for closing costs, estoppel, title search, or any other contrived or cockamamie "fee".
I'd also strongly recommend looking on the Lee County, FL web site for any closings which may reflect this (unknown to me) entity as the grantee on deeds at your facility within the past year or so. Lee County deeds, which are of course public records, are easily retrievable and eminently viewable in PDF format on the Lee County site. If you find this entity indicated there as a grantee in other recent purchases at your facility, then they MIGHT just be legitimate. If you CAN'T find the entity name anywhere as grantee in any recorded transactions at your facility, however, then I would just run like h#%l in the opposite direction --- fast and far.
Good luck.