Buy out program from Land'Or

Has anyone heard of or been contacted by Land'Or about buying out your remaining contract? I was contacted by someone claiming to be from Land'Or, saying I could buy out my remaining 4 years or so for about $4800, the total of annual maintenance fees (without increases) over that period. No special assessments, no surcharges.

She said the motivation on their part is to get short timers like me off the books so they can resell the contract for longer period. Makes sense, a 25 year contract is worth more than a 4 year remainder.

Wondering if this is legitimate, since it was an unsolicited call. I'm definitely interested in getting out.

Forgot to mention, I'm a guest here since I just found this site when doing research after the call from ----. Also, I posted basically the same question on the "Can't even give them one star" topic before I found out I could start a new topic. Perhaps that was a mistake - sorry about cluttering up things.

Did you ever find out any more information? I was just contacted yesterday about the same thing.

I would love to know how to get out of this nightmare. I'm fighting with the pushy collection personell to delay my maintenance fee's do to hardship and they could care less. If anyone wants to take it for whatever reason,contact me. Karenmisuraca@hotmail.com.

I was contacted about the same thing over the weekend. Did you find this to be legitimate? Did you proceed?

I was contacted about the same buy out program over the weekend. Did you proceed with the buy out? Was it legitimate?

We were contacted twice.

I have recently been contacted. Did you accept their offer? I was surprised when they reached out to accept pre-payment to get out of the lease. I have 10 years left and it is compelling since the fees are going up.

Do you suppose this is a normal practice with timeshares?

delete

i think they are in need of cold hard cash, and are contacting those of us who have less than 15 years ( we have 11 years to go) to entice us. We are no longer able to deposit weeks into RCI for trading. Owners are no happy, therefore, they are worrying ....and are in panic mode I think. We are holding tight, hoping the other shoe drops soon....so to speak

delete

I received this offer, so I didn't use the phone number in the e-mail, but called Land'Or directly. They are making this offer to raise cash. They are doing major renovation (some units converted to 2 BR). That is why they (temporarily ) can't be exchanged through RCI. They have a reduced number of units available for use and are saving them for owners.They were unable to raise investors to level the place and build a new resort in place of the aging one there now. I bought in the 80s for 40 weeks. I was offerred 2 bonus weeks and an additional 2 yrs in the FlexPlus Exchange system and a promise of no further maintenance fees, assessments, etc, but would still be charged utility fees if I went there.

delete

Dear CLO Friends, Is there any new activity regarding the buyout program that anyone is willing to share? I understand that there is a new company on site at CLO called APEX that is marketing the new 2 and 3 BR units at a significant cost ($15-30K)--- (although only one model unit has been finished). None are available as of this time.

I am not clear if existing CLO owners who have not traveled recently to CLO will be offered the use of these new units under our old contracts. We have had no information in the CLO Newsletter whatsoever about extending this opportunity to existing owners. That shows no loyalty on the part of the CLO corporation to existing owners who have paid big bucks to CLO.

Any thoughts would be appreciated. I think that a buy-out might be the best option to exercise. Thank you!!

WOW...thats the best offer I have heard. NO MORE mtce fees OR assessments? Those are what everyone complains about. Basically you were offered use of your timeshare for FREE for the rest of your contract. Not sure what you mean by utiity fees while staying there? Are you speaking of the nightly fees or did they waive those too? I am stunned that you get your remaining weeks completely free of any fees without any buyout dollars at all..

Has anyone been able to get out of their contract? Just heard that they filed chapter 11.

Their 'umbrella' corporation filed for reorganization under Chapter 11...NOTClub Land'or itself.

Any suggestions on getting out of this contract?

That is not the reason RCI wouldn't exchange for Club Land 'Or. That is their positive spin.

ClO has released a number of owners from contracts and there is a groundswell of owners suing them. There is a group of about 30 owners suing them now.