Good News for Consolidated Resorts Owners
Published
Whenever a developer experiences public financial troubles, there's a possibility that resale values will be negatively affected. The recent bankruptcy filing of Consolidated Resorts has left owners wondering what to expect.
A recent article by John G. Edwards brings good news for worried owners: An attorney for Consolidated explains owners will be unaffected, and that "they are able to call up and get their week as if this bankruptcy never happened." Apparently, most of Consolidated's timeshare has already been sold, the HOAs are well funded, and the mangement companies that run day-to-day operations at the resorts have not filed bankruptcy.
Provided there's no more surprises for the owners at Consolidated Resorts, the bankrupcty might boost resale values, as the only place to purchase one of Consolidated's popular destinations
now is on the resale market.