Repairs to Sunchaser Villas, a timeshare resort in Fairmont, B.C., will cost timeshare owners thousands of dollars. The unsuspecting owners face enormous bills.
Hundreds of innocent consumers who purchased the timeshare before the change of ownership find themselves facing thousands of dollars in repairs and interest. Following on from the lawsuit which was unsuccessful.
Several hundred consumers who purchased on the resort where astounded after they each received a repair bill totaling thousands of dollars.
Four and half years ago Northwynd Sunchaser purchased the property, knowing the buildings required substantial maintenance which included a complete plumbing renovation. The previous owners had declared bankruptcy.
Calgarian Tom Zarokostas one of the 14,000 owners of the timeshares, were informed of their contribution towards the cost of repair and this would be approximately $4,000 each. Should they wish not to contribute they were offered the option of terminating their contract for a fee of $3,000.
Appalled at the request for thousands of dollars more than 1,000 owners took Northwynd Sunchaser to court, claiming the demands were unreasonable, however, the court ruled in favor of the company stating they had the right to charge for the repairs.
Many owners failed to pay their maintenance fees during the court battle. The courts requested that the owners have until February 15 to pay their share which now includes interest.
Zarokostas says he is now facing bills, including legal fees, totaling more than $30,000. When the Zarokostas family purchased the 40-year timeshare over a decade ago, the negotiated price of the timeshare sale was $30,000 and they were told to expect to pay approximately $500 each year in maintenance fees.
“A lot of people are seniors who are on pensions and have limited funds,” said Zarokostas. “This is going to bankrupt a lot of people. It’s caused hardship in relationships, failure of relationships, as a result of this.”
“I have a son who is starting university. Heck, $35,000 that would be money better spent to give to his education. It’s just a nightmare.”
Zarokostas says the total he owes will hot the roof if he doesn’t pay in the next few days. He says 126 percent interest will be added at that time and he will then be on the hook for more than $80,000.
Officials with Northwynd Sunchaser say the contracts the timeshare owners signed at the time of purchase indicate that the timeshare owner would be responsible for the cost of necessary repairs. According to the representatives, the full cost of the necessary repairs was not known when the company acquired the property.
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk