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Friday, 6 July 2012

ILX Acquisitions, has the right of first refusal

As such, as you may know, ILX Resorts, the original Seller of the Premiere Vacation Collection, declared bankruptcy in 2010. A new company, ILX Acquisition, Inc. ("ILXA"), acquired the assets of the previous Seller, including the rights as the Seller of PVC. The key change made by ILXA was simply to convert PVC to a points-based system, wherein all existing owners retain their same use and occupancy rights at the PVC resorts as existing prior to the conversion to points. To explain your ownership, you maintain 6000 points as a member of the Premiere Club Connection. You are an every other year owner; as such, you receive 3000 points annually and you are billed annually. You still maintain your deed; however, your deed is now represented by points. While we understand that this is a little different than you prior ownership, ILXA and Diamond resorts have provided you the same benefits as you were obligated prior to the acquisition. To clarify, you will be able to book any unit type that you were previous able to book prior to the transition, subject to availability. Through the use of saving and borrowing points, you will also have opportunities to book unit sizes that you were not able to book previously.

 ILX Acquisitions, Inc., has the right of first refusal. Simply stated, if an owner desires to sell his property and has a prospective buyer who has made an offer he wishes to accept, the owner must notify ILX Acquisitions, Inc. and provide us with a copy or summary of the purchase offer prior to accepting such offer or transferring his property. ILX Acquisitions, Inc. has the right and option to purchase such property at the same price and on the same terms as set forth in the purchase offer. In other words, ILX Acquisitions, Inc. has the right to match the price and terms of any purchase offer that an owner wishes to accept. If ILX Acquisitions, Inc. waives it rights, the sale goes forward as stated in the offer. Should ILX Acquisitions, Inc. exercise its rights, ILX Acquisitions, Inc. would step in as buyer under the same terms and purchase price disclosed in the purchase offer.

If any UK owner  needs any help to get rid of ILX Resorts Call  Steve on 01492 209467 or send me an email to