Singing Pig

View from bedroom on ground floor of building I

Dear Everyone,

I hope it's OK to post a "for sale" announcement here. My wife and I contracted for a one bedroom unit in building J on the second floor. The current asking price by the developer is USD 319,000, and there should be at least one more price increase between now and the opening date. We are willing to sell ours for 299,000. If interested, please email me at inward@yahoo.com.

Thanks,

Fairfielder

^^ How did you get on, manage to sell?

I notice the developer has put the price up of your unit another $10,000 in the last few days to $329,000

Operation Of The Owner Bonus Plan

Caicos Beach Club Resort and Marina's goal is to maximize your enjoyment and help you make the very most out of your Ownership. In an effort to meet these goals, we offer our Resort Residence Owners the Owner Bonus Program. Of course, the program is bound by the restrictions as detailed in the the Rules and Regulations, but here are the basics:

• Each Resort Residence Owner who places their Personal Residence in the Private Lodging Plan will receive, in addition to the net lodging fees, Two Free Bonus Weeks of usage per year in the Resort Residence type purchased with no maintenance fees or use fees due. While the Resort Residence Owner is enjoying these two free weeks, their unit remains in the lodging plan earning money! If the owner desires to stay in a larger Resort Residence during these Two Free Weeks usage, the Resort Residence Owner shall pay the difference between the posted rack rate of the larger Resort Residence and the Resort Residence owned.

• Once the two free weeks have been used that year and the Owner would like additional usage, the Resort Residence owner may call at any time within 14 days of when they would like to come and if the Resort is less than 70% occupied, the owner may reserve any size unit available with the only charge being a housekeeping fee and a nominal administrative fee. Once again while they are vacationing their Resort Residence is still in the rental program.

• In addition, if the owner desires to stay additional time during the year (two free weeks have been used), the owner can call at any time without the 14 day and 70% restrictions above and reserve any size Resort Residence available. The Resort Residence Owner shall pay only 50% of the posted rack rate of the Resort Residence size reserved and will still have their Resort Residence in the lodging plan earning revenue.

Any update when completion will be and can someone remind me of the closing costs.

Hi Yellow Bird,

I think it's still officially end 2008 but I've also seen June 2009 mentioned as a completion date for phase 1... they are not very good at keeping us posted on this important piece of info.

Unless it's changed, closing costs are: Government stamps $224; Legal $1000; Land Reg $100; Transfer Tax at 3% $9000ish; Management Fee $900; Equity Club Membership $5000 - plus, I note that, the amount of non-recourse loan available has been cut from 70% to 60% (according to their website), which could make a big difference.

My records suggest that the Equity Club = Private Lodging Plan and I think the $5000 is payable once only (not annually) and is refundable - can anyone clarify this?

BTW, the piece you submitted of their site about the Private Lodging Plan has confused me 'cos there seem to be two options for costs after the first 2 weeks (either housekeeping+admin fee or  50% of rack rate. It also suggests that upgrading within the first two weeks is more expensive than afterwards (rack rate difference vs. housekeeping+admin fee or 50% of rack rate). I've reread it several times but it still doesn't make sense...

Regards, Maypole