News Summary
The Beach House Golf and Racquet Club in Myrtle Beach, South Carolina, is going up for auction following the end of its timeshare program. With bidding starting at $700,000 and repair costs projected at around $3 million, prospective buyers are being urged to consider the extensive renovations needed. After the closure, timeshare owners have options to manage their stakes as the community anticipates a new chapter for this iconic resort, which has seen so many family memories over the years.
Beach House Golf and Racquet Club Faces Auction After Timeshare Program Ends
In the sunny paradise of Myrlte Beach, South Carolina, excitement is brewing as the Beach House Golf and Racquet Club is set to go up for auction. This iconic resort, beloved by locals and vacationers alike, has had quite a ride in the last couple of years. As it turned out, structural issues forced the resort to close its doors suddenly about two years ago, leaving many with memories of vacationing families and sun-soaked days.
What Led to the Auction?
With the timeshare program officially terminated, the Beach House Golf and Racquet Club is now looking for a new owner. Current bidding starts at a competitive $700,000, but those interested should be aware that the repair costs are estimated to skyrocket around $3 million. It’s clear that whoever wins the auction will have a big renovation project on their hands before this gem can shine again.
Options for Timeshare Owners
The closure in 2023 put many timeshare owners in a tough position. However, these owners were given a few choices on how to manage their stakes. They could opt for a $250 buyout, transfer their deeds, or even cast votes on the future of the property. In a community-driven decision, a majority chose to sell the property, paving the way for this auction.
As part of the auction process, the timeshare owners were informed that all outstanding debts would be covered once the property sells. This means that any leftover funds from the sale will go to those owners who have been diligent in paying their maintenance fees. This approach was a relief for many, worried about what their future held after the closure.
The Heartbreak of Memories
For Glen and Cindy Caeele, who visited the Beach House for 30 years, the closure has been a bittersweet pill to swallow. With decades of family traditions built around this spot, they voiced the profound sense of loss felt not just by them but several familiar faces in the community. Similarly, Sheila Franklin, whose family has vacationed at the Beach House for an impressive 40 years, clings to hope that a profitable sale may fund future vacation opportunities. It seems that this auction is not just about real estate but a chance for many families to reclaim a piece of their shared history.
New Management and Future Prospects
Excitingly, a new management company has jumped in to oversee the property and its sale since October. They’re focused on streamlining the auction process, making it as smooth as possible for potential buyers. One can only imagine the plans they have for breathing new life into the resort.
Golf Course Closures in Horry County
The Beach House Golf and Racquet Club is not the only storied facility undergoing change. Nearby, the River Oaks Golf Club will permanently close its doors in October to pave the way for nearly 600 single-family homes. Originally opened in 1988, this beloved golf destination turned 27 holes has been a staple for affordable green fees and numerous charity tournaments.
Chris Manning Communities purchased the remaining 18 holes earlier this year, and development plans are already in the works to add 370 new housing lots. This closure is part of a bigger trend seen across Horry County, where golf courses are bowing out to make room for housing developments.
Looking Ahead
With the changes happening at the Beach House Golf and Racquet Club as well as the impending closure of River Oaks Golf Club, it seems that things are shifting in Myrtle Beach. The upcoming auction could provide a new lease on life for the Beach House while also creating space for those looking to settle down in the area. As both locals and vacationers keep a close eye on these developments, only time will tell what the future holds for these beloved destinations.
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Additional Resources
- WMBF News: Timeshare Owners React to Closed Resort
- GolfPass: River Oaks Myrtle Beach Golf Course Closing
- Golfweek: Myrtle Beach Golf Course Closing Replaced by Homes
- On The Green Magazine: Myrtle Beach Market to Lose Another Golf Course
- Wikipedia: General Knowledge
