buying foreclosed timeshare @ shearwater

[beaula99]

Hi

I have an opportunity to buy foreclosed time share @ shearwater.
Could anyone share some of the pros and cons of buying foreclosed.

Thank you

 

[DeniseM]

I think you are talking about the ones the resort is selling. You can buy them for far less on the resale market, so I wouldn't do it.

 

[rickandcindy23]

Agree with Denise. The prices are very high for those weeks. We bought our weeks on eBay for less than $2,500, including closing costs.

There is no problem buying a timeshare resale or foreclosed, as long as you have a warranty deed.

 

[beaula99]

foreclosed timeshare

I have looked on ebay and got a report from resale market, the unit I was
interested in on resale market was not much cheaper than the resort offering.

I was wondering if the foreclosure comes with the debt from the other owners.

Thank you for your input.

 

[DeniseM]

If you are patient, and take your time, you can definitely find one for significantly less on the resale market. As a Pahio owner, I received the offer too, and it is too high.

 

[tschwa2]

Did the offer come with points and were they VIP eligible? If so that would be the only reason I might consider paying more through the HOA. They would also have to be significantly cheaper than buying direct from Wyndham because at retail prices or just under still not worth it for VIP eligible points.

 

[beaula99]

Thank you.

I will shop

 

[DeniseM]

Did the offer come with points and were they VIP eligible? If so that would be the only reason I might consider paying more through the HOA. They would also have to be significantly cheaper than buying direct from Wyndham because at retail prices or just under still not worth it for VIP eligible points.

The offer is from the Shearwater BOD for deeded weeks - not points. Does Wyndham still manage Shearwater? One by one, the Pahio resorts have been leaving Wyndham.

 

[DaveNV]

Thank you.

I will shop

Sumday Vacations (a TUG member and timeshare reseller) has this Shearwater biennial listing on their website. Price is excellent, includes closing costs, and may be something you might like:

http://sumdayvacations.com/timeshare-transfer/proddetail.php?prod=SV59660-47113

Dave

 

[rickandcindy23]

The offer is from the Shearwater BOD for deeded weeks - not points. Does Wyndham still manage Shearwater? One by one, the Pahio resorts have been leaving Wyndham.

So far, yes, Wyndham is still in control.

The last owners' meeting, which we attended because we happened to be on property, it was clear to us that Wyndham has great control over the board, even to the point of blackballing one owner who wants to be on the board, because he does have some gripes about Wyndham. He has tried to get on the ballot for years. I know this because I met him before this past meeting. He owns quite a few weeks at Shearwater. It was ridiculous to meet the other board members, obviously big Wyndham fans.

The HOA and Wyndham decided not to give exchangers a mid-week towel change, but owners and Wyndham Points' owners do get the mid-week tidy and towel change. We exchanged in (pretty easy exchange), but we also own two weeks. I don't like the idea that I pay fees for towel change and tidy and cannot get it when I exchange in. That's very elitest, don't you think? We had a unit with a roach problem.....

 

[DeniseM]

So, that means that if someone buys one of these foreclosures from the board, it will not have Wyndham points.

To enroll it in points, the owner would have to buy a 2nd, full-priced week from Wyndham. NOT a good deal.

 

[rickandcindy23]

Wyndham corporate may offer you a corporate price to convert a week or weeks to points. There used to be a number somewhere on TUG a person could call.

I know of one TUG member who paid $2,500 to convert his Wyndham points' contracts (bought resale) to get the benefits of retail, and he has been enjoying Platinum status. He did this about five years ago.

 

[DeniseM]

At the Hawaii resorts, my understanding is that currently you have to buy a 2nd timeshare at full retail from Wyndham.

 

[rickandcindy23]

At the Hawaii resorts, my understanding is that currently you have to buy a 2nd timeshare at full retail from Wyndham.

There were definitely ways around this a few years back, and not many people knew about it. I believe the price was $2,500 to convert, and there may be a limited number of contracts allowed to be converted, but it was real, and I just know of one person who was completely honest here on TUG and via PM's to me about his good fortune. The promise was not made in writing to give the status of Platinum or Gold, but the end result was that one did get the status appropriate to the number of points converted.

Wyndham really wanted to get most of the PAHIO weeks into their system, so they couldn't be fired, as they have been from Kauai Beach and the Makai Club resorts. They couldn't talk people into conversion.

 

[ronparise]

So far, yes, Wyndham is still in control.

The last owners' meeting, which we attended because we happened to be on property, it was clear to us that Wyndham has great control over the board, even to the point of blackballing one owner who wants to be on the board, because he does have some gripes about Wyndham. He has tried to get on the ballot for years. I know this because I met him before this past meeting. He owns quite a few weeks at Shearwater. It was ridiculous to meet the other board members, obviously big Wyndham fans.

The HOA and Wyndham decided not to give exchangers a mid-week towel change, but owners and Wyndham Points' owners do get the mid-week tidy and towel change. We exchanged in (pretty easy exchange), but we also own two weeks. I don't like the idea that I pay fees for towel change and tidy and cannot get it when I exchange in. That's very elitest, don't you think? We had a unit with a roach problem.....

Sounds like a crappy resort and a worse manager. I'd dump it

 

[ronparise]

So far, yes, Wyndham is still in control.

The last owners' meeting, which we attended because we happened to be on property, it was clear to us that Wyndham has great control over the board, even to the point of blackballing one owner who wants to be on the board, because he does have some gripes about Wyndham. He has tried to get on the ballot for years. I know this because I met him before this past meeting. He owns quite a few weeks at Shearwater. It was ridiculous to meet the other board members, obviously big Wyndham fans. I'm

The HOA and Wyndham decided not to give exchangers a mid-week towel change, but owners and Wyndham Points' owners do get the mid-week tidy and towel change. We exchanged in (pretty easy exchange), but we also own two weeks. I don't like the idea that I pay fees for towel change and tidy and cannot get it when I exchange in. That's very elitest, don't you think? We had a unit with a roach problem.....

Sounds like a crappy resort and a worse manager. I'd dump it if I felt like you.

As Denise said. You can convert a deeded week to points with the purchase of a small points contract from wyndham. But contrary to what Denise said, it can be a good deal for some, as the points you get in the conversion will be VIP eligible
(don't do this with just any Wyndham salesperson. Talk to one of the folks at Bali Hai)

Wyndham points may not be for everyone. But some may find value in a VIP ownership. And converting Pahio weeks to points as I described above is one of the cheapest paths to a VIP account

 

[rickandcindy23]

Sounds like a crappy resort and a worse manager. I'd dump it

Doubtful that we will "dump" it. Geez, Ron, are you in an ornery mood again today?

My point about the roaches was that the lack of mid-week tidy/ towel change is probably why some units end up with roaches. Putting someone into a unit mid-week to see if there is an obvious problem like that one is important. Wyndham did spray for the bugs, but I still saw more of the things at night. Yuck!

Marriott picks up trash every single day, nad most people don't know how important it is to dump trash regularly, to keep bugs away.

Wyndham points may not be for everyone. But some may find value in a VIP ownership. And converting Pahio weeks to points as I described above is one of the cheapest paths to a VIP account

Yes, as I advised you years ago.

 

[DeniseM]

Doubtful that we will "dump" it. Geez, Ron, are you in an ornery mood again today?

:ignore::ignore::ignore:

 

[ronparise]

Doubtful that we will "dump" it. Geez, Ron, are you in an ornery mood again today?

My point about the roaches was that the lack of mid-week tidy/ towel change is probably why some units end up with roaches. Putting someone into a unit mid-week to see if there is an obvious problem like that one is important. Wyndham did spray for the bugs, but I still saw more of the things at night. Yuck!

Marriott picks up trash every single day, nad most people don't know how important it is to dump trash regularly, to keep bugs away.



Yes, as I advised you years ago.

Yes you did and thank you. And another tugger gave me the name of the salesman that made it happen. so thank you Jim. When you and he did it you could do a nearly unlimited number of pahio conversions with one small purchase, when I did it they limited it, 3 to 1. Now if you do it you can only do 1 to 1. Shearwater with weeks worth 400000 to 600000 points is the best resort to do this with.

Regarding my ornery mood. I'm not the one complaining about Wyndham. That would be you. I like the stuff, in fact I'm writing this from a Wyndham resort (the second this week). I have nothing to complain about. All I'm saying is that if I complained as much as you I'd stay home

 

[rickandcindy23]

Regarding my ornery mood. I'm not the one complaining about Wyndham. That would be you. I like the stuff, in fact I'm writing this from a Wyndham resort (the second this week). I have nothing to complain about. All I'm saying is that if I complained as much as you I'd stay home

Yep, that would be me. However, I don't complain a lot about Wyndham. I don't stay in Wyndham much, I stay in Marriott, Vistana and Hilton most of the time. I have more deposit in II I have to use.

I don't think my issues with Wyndham treating exchanges different from owners is going to make me stay home.

 

[ronparise]

Yep, that would be me. However, I don't complain a lot about Wyndham. I don't stay in Wyndham much, I stay in Marriott, Vistana and Hilton most of the time. I have more deposit in II I have to use.

I don't think my issues with Wyndham treating exchanges different from owners is going to make me stay home.

I was surprised this week with a "clean and tidy" at a Wyndham resort. My wife was esprecially surprised, as she was still in bed when they came into the room>> For us one of the big benefits of a timeshare stay, (over hotels) is that they typically dont come into your room unannounced

Ill rephrase my comment above to say if you know, Wyndham properties are beneath your standards and you know you will be treated like a second class citizen if you stay there; dont exchange into one.

I dont think the lack od a clean and tidy is causing roaches, I always figured it was the non owners, with no ownership stake, like exchangers and renters, that brought them in:hysterical:

 

[AKE]

Why buy when you can rent for not much more and are not faced with ever increasing maintenance fees and boards which basically stay the same no matter which large conglomerate owns or manages a resort. The referenced unit in the ad is week 42 so do not assume you can get a better week deposited with an exchange company or even reserved for yourself if push comes to shove and this applies to all timeshares, not just the one here. We have owned timeshare for 25 years and if I was to do it again I would not, despite all the good trades we have had over the years. I am tired of ever increasing fees... Assessments for large-scale maintenance as the resort ages... And the obvious question of how to get rid of it down the road as it is even hard to give away units and the last thing I want to do is burden my kids with this 'inheritance'.

 

[DeniseM]

And the obvious question of how to get rid of it down the road as it is even hard to give away units and the last thing I want to do is burden my kids with this 'inheritance'.

All good points, but for clarification, no one is forced to accept the inheritance of a timeshare or anything else that they don't want.

There are processes in place in which the heirs can legally decline the inheritance of a timeshare. Of course, it's better to get rid of it before that comes to pass, but this is something you want to be sure your heirs are aware of.

 

[armrecsys]

I am thinking of buying a week at sherewater. Can some tell me you you own a lower floor ., can you exchange to another floor if avable. If. I Get it it with be even year , I won't use that on odd.So I will call in for a different week and unit. What will this work.

 

[jacknsara]

. . . sherewater. Can some tell me you you own a lower floor ., can you exchange to another floor if avable. . . .

Aloha,
If I understand your question correctly, the answer is no for weeks owners. We own units on the ground floor. There is no method to request a higher floor ahead of check in. One time, we were offerred a higher floor the day before we checked in.
Its a small resort. There is a relatively small number of units checking in each day.
I did not understand your even / odd year question. If you own even and want to actually stay odd, you would have to go through an exchange company.
Jack