WolfgangMaerz
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@Alan The floating weeks are converted to fixed weeks with app number to comply to the EU timeshare law. This is ‘legally’ OK. What is not OK is that this fixed weeks are not consecutive which makes it nearly impossible to use it.
Because you had before floating weeks you should subscribe with signature to the internal exchange program ‘Anfi Flex’ of Anfi Vacation Club. See the enclosed form Anfi Flex of the contract. It informs you about the conditions.
This (special) exchange program has a duration of 5 years. During that period there is no difference to your floating weeks. After that period it renews automatically if you do not exit the program. My understanding is that after exit you cannot enter the program again und you MUST use the weeks as fixed weeks (what is bad with not consecutive weeks). So, you should never exit the program.
The alternative is not to sign the new contract and only update the floating week owner certificate. Please read the information above about the financial impact of the new contract, especially when you or your heirs are forced to terminate the contract for any reason and are not able to resale the weeks. Or you have to pay maintenance fee for maximum 50 years, if you use the weeks or not.
Wolfgang
Most private resale buyers do not care about the contract of the seller and are happy to get the membership certificate from Anfi. They definitely should! The club constitution alone is not sufficient.
What is business up to now is now explicitly stated in the new contract: The title of ownership goes over to the new member and the contract applies now to the buyer as new member with all obligations and financial consequences.
Even if the the buyer did not get the contract from the seller or does not care about it, Anfi has a signed copy and can enforce the contract.
Wolfgang
@Brian, yes this is my understanding after reading the original contract.
Now we come to the conclusion you already stated above.
Before the new contract, the member could simply give Anfi a written notice not to pay the maintenance fee next year and hand over the original contract to Anfi. Anfi was happy to sell the weeks again for 20,000 € + without paying any compensation to the member.
That is now over. If the member fails to sell the contract, as private resale or over Anfi (option to refuse or over Sales), he faces an enormous financial disaster. Private resale buyers will be alarmed too and not buy because the title of ownership goes over to them with the same consequences.
If Anfi succeeds at court with the member paying hotel cost for used weeks if the contract is terminated before max 50 years, this may apply also to old contracts.
I think that the new contracts cannot be recommended. For me, with the new contracts, Timeshare at Anfi is dead, completely dead.
After the member has informed Anfi about the planned private resale with all details Sales must inform the member within 15 days if Anfi buys or not.
After 15 days without Sales buying the weeks the member can sell the weeks within 3 month with the same conditions.
If the member does not sell within 3 month but later the process starts again as described above.
The new buyer must accept in writing that he agrees that Anfi has the right to refuse.
Anfi has the right to transfer the right to refuse to a third party.
I too think that Anfi has no right to be informed about the identity of the buyer. The seller can make Anfi an offer, that’s all.
Again Anfi contracts are legally questionable. The same is true for hotel prices in case of non-payment.
Wolfgang
Good question.
The contract says that the seller has to inform Anfi about the planned resale with all necessary information as identity of the buyer with contact details, purchase price, payment details and all further conditions.
If Anfi takes the week than for the same conditions (price).
Wolfgang
New in the contract is for Anfi the ‘right of first refusal’ upon private resale which gives Anfi the possibility of cherry picking (weeks / apartments with high level in high season) to dry out the private resale market. That means “good” weeks can then only be bought from Anfi for regular prices.
Wolfgang
It sounds theoretically but if Anfi succeeds at court with hotel cost this may be the way to make profit and could be applied also to old contracts. As said, in theory.
Yes, the rates for other appartment sizes are also given and are higher.
The question is why Anfi does this. Up to now they did not get a court sentence for contracts declared illegal to be paid by hotel cost and now they want new members just to agree to it signing the contract.
If Anfi thinks that the contract is legal they do not have the members to sign this. Or this is a new type of business model to make profit by prematurely ended contracts.
Wolfgang
“The other factor masked in the data produced by Wolfgang is the higher cost of many things in Gran Canaria due to the fact that it is an island.”
The figure is only about encrease of prices, not of absolute prices.
It should also be noted that the club stuff cost are about 50 % and the bill comes from the human resources department of Sales. It can be taken for sure that the stuff bill includes a price of this central service and some profit which may have been encreased over the years. But this is one of the business secrets of Anfi we will never know.
Wolfgang
The Spanish timeshare law 8/2012 suggests in article 30 that the increase of maintenance fee over the years should follow the Spanish consumer Price Index (CPI) of the Instituto Nacional de Estadistica (INE), unless an other method is choosen. After inflation in the past Spain has entered deflation since 2012 and enters inflation again since 2016.
Anfi does not respect article 30, that means NO method is choosen. Instead, Anfi takes what they think is needed.
The CPI may be not the ideal figure for comparison but it is mentioned in the law. The figure shoes that maintenance fee and CPI had the same increase till 2007. After this year the increase of maintenance fee was higher but in 2012 the same again. After 2012 the maintenance fee develops at a much higher rate than the CPI … Why?
Wolfgang
And here the labour cost
Figure Source
Labour cost third quarter 2018 compared with previous year is 2.6 %
A new version of the app with an exiting new feature is available! Please update to TimeshareRR version 1.7. The app has the languages German, English, and Norwegian.
Normally you see only the available adverts. This version has a new share symbol in the tool bar to show ALL rental adverts since the current year in scrolling card view with status available (blue), rented out (green) and expired (gray). This gives you a good overview of the rental success which is more than 80 %.
The rental adverts card view starts with adverts arrival day 1th January and ends with adverts arrival day 31th December. First flexible weeks of the year, than fixed weeks sorted by week number.
Available rentals can be seen in detail view if you click on the blue advert id. Rented out and expired adverts of course cannot be seen in detail.
Here the start view (beginning 2018):
Here the end view:
Wolfgang
Here information from the “Investment plan summery IFA 2019 – 2013” which was part of the invitation to the IFA general meeting 19th July 2018 (translated from German):
Geographical strategy
With the takeover of Anfi group we get over urban and well developed real estate properties access to a zone of growth potential in the hotel business.
Business strategy
Canary Islands:
Acquisition of 100 % of ANFI group – 60.000.000 €
Construction of a new hotel on the Canary Islands – 90.000.000 €
Renovation of the Hotel IFA Faro – 12.500.000 €
P.S.
Above they speak of “hotel business”. I think they mean the Tauro development, not the conversion of timeshare into hotel business.
IFA has on its general meeting on 19th July 2018 settled an increase of the share capital by 200 Mio. Euro. Together with outside financing and surplus liquidity 529 Mio. Euro will be invested over the next 5 years. This includes 162 Mio Euro alone for projects on the Canarias Islands, from this 90 Mio. Euro for a complete new hotel.
This is from a short summery. The full report of the general meeting will come soon. It was mentioned in an earlier statement the intention to get full control over Anfi.
Wolfgang
Sounds true and the argumentation is reasonable but John Meykel (committee CPA) says this is fake news. So we will see …
Breaking News in the battle of Lopesan take over of Anfi, see link: Link
S. Cazorla takes IFA and Ragnar Lyng to court! The reason is that a written agreement exists between Bjorn Lyng (died 2006) and S. Cazorla that gives the latter the possibility to take over all shares if Lyng would sell it. Or at least offer this to him.
IFA is said by S. Cazorla to circumvent this agreement by taking over not simply the shares from Ragnar Lyng but the whole parent company (Anfi investment) which hold the shares. So Cazorla is arguing at court that he has been betrayed … and that the selling should be cancelled to reinstate the situation before the selling.
This is what I understand from the poor Google translation to English.
Wolfgang
Yes, above I translated this important sentence from the IFA business statement. About Anfi there is only this sentence.
This seems to be the translation from of the spanish article, not the IFA statement.
What it says in the 05/26/2018 IFA statement about Anfi (“…, der etwaige Erwerb der noch nicht von der Gesellschaft gehaltenen 50%-Beteiligung an der Anfi-Gruppe”) is “…, the take over of the not hold 50 % share of the Anfi Group”). That’s all.
But the IFA statement of 2017 is part of the spanish article.
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This reply was modified 6 years, 3 months ago by
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This reply was modified 6 years, 3 months ago by
Angus, I see it a bit different:
The Spanish law 42/1998, coming into force 5th January 1999, demands that all contracts after this date should have a maximum duration of 50 years beginning at that date or after the date of building the timeshare resort (not the date of signing the contract). This is the recent interpretation of the Spanish Supreme Court spring 2015. The law is not clearly written and could and was misinterpreted by the whole timeshare industry including Anfi in ‘good faith’ to allow (now illegal) in-perpetuity contracts.
The law knows only fixed weeks that can be exchanged on an annual basis and must have in the contract a reference to the timeshare subject (apartment number and week). This means that so called floating weeks must have also such a reference (as fixed weeks in AVC). Here the law cannot be misinterpreted and there is no excuse.
For all who have installed the app. Please control if at status version 1.3.1 is shown. Otherwise update to this version.
Yes, the website Timeshare-Markt.de and the app TimeshareRR has the same database. That’s the reason I speak of the app as a mobile companion of the website. If you put an advert with the app it appears within a second also on the website vice versa.
The app is full featured and can do the same as the website, even more comfortable. The difference is in fee and service. The website demands a fee for adverts and provides full service. The app allows free advertising but without service (members without internet, language translations, Anfi procedures …). Only technical help is provided.
User can put into the advert form data directly. But the recommended way is to use the ‘week portfolio’ in the personal settings for each week contract (week from, week to, club, apartment type, …). You must also be signed in with Google or Facebook.
Then at put advert only the contract has to be chosen und the advert is filled out automatically including also your private information (not visible for others) as name and email address.
Regards Wolfgang
Hi all.
Now the app TimeshareRR (alias Resales & Rentals) is ready for use in the Google Play Store for Android smartphones. In the smartphone you find the app when you search for ‘timeshare anfi’ with the following logo:
just behind the Anfi app (Anfi may be not amused …).Wolfgang (developer of the app)
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This reply was modified 6 years, 3 months ago by
