ABOUT VACATION WEEK OWNERSHIP at

NEPTUNE HOUSE

on beautiful Block Island!

Proudly Offering Vacation Week Ownership since 1985

The NEPTUNE HOUSE has a total of 23 vacation condos in two adjacent buildings. Each has a full-size, fully equipped kitchen, living room/sitting area, dining table, and sleeping for 2 (studio), 4 (1 bedroom unit), or 6 (2 bedroom units). Just about every unit has a porch, balcony, deck, or screened-in porch.

The ‘Victorian Building’, also known as the Original Building, was built in the 1870’s as a private mansion and used as a single family residence until it became a B & B sometime in the early 1900’s. In the middle 1980’s the B & B’s rental rooms were changed over to vacation ownership condos with deeded perpetual ownership just like your house. After quickly selling out of the original offering of 14 units the 2nd building, ‘The New Building’, was opened in 1990 offering 9 additional units, for a total of 23 vacation apartments.

Prices are not negotiable as they are already listed at the lowest price that will be accepted. We feel this is a fairer way than having the final price be subject to the level of bargaining skill of the parties. This takes the negotiation out of it but also the high pressure.

The cost to transfer a week to you is approximately $200-400 depending on the purchase price of the week. The paperwork is easy to complete and is done by mail. No visit to Block Island is necessary.

After you purchase your vacation week you become an owner of your vacation condo for 1 week out of the 52 weeks in the year. As an owner of property you have annual ongoing upkeep fees for real estate taxes, insurance, utilities, upkeep, etc. You will be billed at the end of the year with the ‘maintenance fee’ being due in January for the upcoming year.

Use the week yourself or give it to friends or family to use. All you need to do is call the Neptune House Office and leave a message at 401-466-2987 or send an email to the front desk giving them the names, date, and estimated time of arrival of your guests. You may also rent out your week on your own - we do not provide rental assistance.

A payment program can be set up to purchase many of the weeks available for resale. Suggest to us what financial arrangements will work for you, and we’ll consider it.

Some other financing options you may want to consider:

ŸA home equity loan or line of credit. This is usually the most favorable interest rate you can borrow money at.

ŸAsk your credit card company if they offer ‘convenience checks’ with a special lower interest rate until the amount is paid off. You would use the credit card convenience check to purchase the week and the amount is put onto your credit card balance.

ŸIf one credit card does not have enough available credit you may use two or more credit cards to total the amount of the purchase for your vacation week.

Half of our year - the 26 weeks from week #18 through # 43 - which is the 6 month period from May through October are

‘fixed’ vacation weeks. You would own the same week every year in the specific unit you purchased. The week number and unit number are ‘fixed’—they do not change.

The other half of the year is ‘not fixed’ –

but floating which means that you do not own the same week year after year. Instead you own a ‘week of time’ to be scheduled every year on a first come-first serve basis. This allows you to visit Block Island during different months in the lower season - November, March or April.

With the purchase of any fixed week (week #18 through week # 43) you have an option to own a second lower season week at no additional cost to purchase. You can use this second week to visit Block Island during the months of March, April, or November. Or you can trade the week with Interval International and vacation at another available timeshare resort at ANY TIME of the year. It does not have to be during March, April, or November. The annual maintenance fee on these lower season ‘floating weeks’ is lesser than the fixed weeks, and is currently only $670. For more information on ‘floating weeks’ see the detailed handout specifically on that topic.

INTERVAL INTERNATIONAL (I.I.)

VACATION EXCHANGE:

If you cannot take your vacation on Block Island during the vacation week you own, you can always take your vacation at another time of the year at another vacation ownership resort by exchanging your Block Island week through a timeshare trading company. The Neptune House is affiliated with Interval International (I.I.) which charges a small fee of approximately $149 to exchange your Block Island week to another location. I.I.’s exchange network encompasses over 2,000 timeshare resorts worldwide.

GOT QUESTIONS?

CONTACT: JOANNE

OWNER RELATIONS

FOR THE NEPTUNE HOUSE

Direct Cell: 401-261-2032

12 Noon-10PM Eastern

7 days OK to call

Email: jr4seasons@yahoo.com

Click below (or copy and paste into your browser’s address window) for a photo slideshow of the Neptune House Grounds & Amenities:

http://smilebox.com/playEmail/4d5449314e546b324d7a56384d54557a4d444d344f54553d0d0a&sb=1

www.NeptuneHouse.com