Buying MKO Advice....

[scpoidog]

My understanding was they were paid in in the year and the next year. The auction I mentioned above was set up that way and when I bought my EOY Ko Olina week it was as well. I'm not sure the official Marriott stance but that's the position I'd take buying in, esp since you might not get the week you wanted the first usage year

See this thread re: EOY usage. http://tugbbs.com/forums/index.php?threads/marriott-eoy-billing-question.240912/ , especially post #10 from Saintsfanfl.

Klpca,

Thanks, I was looking for this thread but couldn't find it. I stand corrected on which year you are paying for. .

I have an offer out right now for an EOYE so I'm hoping it passes ROFR and it goes through. The first use is in 2018, so no matter which year the MF is attached to, cash flow wise I pay $1100 in 2018 and get my week, so I'm good.

Better than buying an EOYO and paying for 2018, 2019, and 2020 for a week in 2019

 

[dagger1]

Klpca,

Thanks, I was looking for this thread but couldn't find it. I stand corrected on which year you are paying for. .

I have an offer out right now for an EOYE so I'm hoping it passes ROFR and it goes through. The first use is in 2018, so no matter which year the MF is attached to, cash flow wise I pay $1100 in 2018 and get my week, so I'm good.

Better than buying an EOYO and paying for 2018, 2019, and 2020 for a week in 2019

Per your own math, you will be paying MF's in 2018 AND 2019 for your 2018 week.

 

[scpoidog]

You're correct.

However here's how i view it - IF my purchase goes through, I'll be paying $1100 at the end of 2017 and getting a week in 2018. An EY owner would pay $2200 at the end of 2017 and get a week 2018. Yes, I'll pay for the 2nd half in 2019, but I've always viewed the payment in the non-use year (2019) as a "prepayment" of the next use (2020) vs. the second payment of the first use (2018). Apparently this is not the Marriott way of looking at it, but the original owner was the only one who had to worry about it.

If you buy an EOYO and the first use is 2017, then your week is baked into the price and could be considered "free". If you buy an EOYO the first use is 2019, then you'll be paying for that week in 2019 in 2018, 2019, and 2020 ($3300, w/out inflation).

All I know is that this purchase will get me both an even and odd year, and starting in Dec 2017, I'll be paying $2200 and getting a week each year until I die to decide to sell

Good luck in your purchase.

 

[dagger1]

You're correct.

However here's how i view it - IF my purchase goes through, I'll be paying $1100 at the end of 2017 and getting a week in 2018. An EY owner would pay $2200 at the end of 2017 and get a week 2018. Yes, I'll pay for the 2nd half in 2019, but I've always viewed the payment in the non-use year (2019) as a "prepayment" of the next use (2020) vs. the second payment of the first use (2018). Apparently this is not the Marriott way of looking at it, but the original owner was the only one who had to worry about it.

If you buy an EOYO and the first use is 2017, then your week is baked into the price and could be considered "free". If you buy an EOYO the first use is 2019, then you'll be paying for that week in 2019 in 2018, 2019, and 2020 ($3300, w/out inflation).

All I know is that this purchase will get me both an even and odd year, and starting in Dec 2017, I'll be paying $2200 and getting a week each year until I die to decide to sell

Good luck in your purchase.

I agree completely. It's just that in the first case you stated that an EIYO (2019) purchased would have to pay 3 MF's (2018, 2019, and 2020), but an EOYE (2018) purchaser would only have to pay 1 MF (2018). But as has been pointed out, it's moot because all of this can be equalized by the price, i.e., a 2019 use year might be purchased for $1100 less than the 2018 use year to compensate for the extra (2018) MF.
Good luck to you as well, depending on our success maybe we can delve into further intricacies over a cocktail at MKO in the future!

 

[scpoidog]

I agree completely. It's just that in the first case you stated that an EIYO (2019) purchased would have to pay 3 MF's (2018, 2019, and 2020), but an EOYE (2018) purchaser would only have to pay 1 MF (2018). But as has been pointed out, it's moot because all of this can be equalized by the price, i.e., a 2019 use year might be purchased for $1100 less than the 2018 use year to compensate for the extra (2018) MF.
Good luck to you as well, depending on our success maybe we can delve into further intricacies over a cocktail at MKO in the future!

Sounds good. I'll be crossing my fingers about the ROFR for both of us.

 

[dagger1]

Sounds good. I'll be crossing my fingers about the ROFR for both of us.

Our offer of last week was turned down. We have another offer in on a 2/2 OV EOYO. So we have to get past the offer hurdle before we deal with ROFR. MKO is kind of a "would like to own" rather than a "am going to own." So if I can find a "deal", I will buy. By a deal I mean something in the neighborhood of the eBay 2/2 OV EOYO which went last August for $4850 total (all closing included.) Probably unrealistic, but....

 

[dagger1]

Can you travel in shoulder season? That would increase your flexibility.

I would start making offers in both Odd and Even, and see which you are able to find a seller first.

Once you have found your seller, ask them to make a reservation for you and give them lots of options on timing that would work for you. When I bought my MKO in September last year , I asked seller to make an August reservation for me, and it worked fine.

Good luck!

Best,

Greg

Greg, what is considered "shoulder" season in Hawaii?

 

[TXTortoise]

FWIW and curious about Greg's perception, and Oahu may be different, but based on sale prices I'd consider April-May and late-August to December shoulder seasons on Maui, But only because winter-whale and peak summer are in such demand. Not as significant a shoulder as many resorts, but definitely easier to trade or rent into.

 

[GregT]

FWIW and curious about Greg's perception, and Oahu may be different, but based on sale prices I'd consider April-May and late-August to December shoulder seasons on Maui, But only because winter-whale and peak summer are in such demand. Not as significant a shoulder as many resorts, but definitely easier to trade or rent into.

Yes, I would agree with these months for shoulder season -- still lovely, but not as busy!!

Best,

Greg

 

[dagger1]

A couple of last dumb questions: I am sure it has been discussed somewhere here on TUG. When buying a 2/2 OV MKO (either Annual or EOY), are some 2/2L's and some 2/2 Single Entry? Will the type unit be specified on the estoppel? Is one more expensive than the other? If I purchase one, can I be assigned to either? Since we will always be requesting an ADA unit, would it be better to purchase a Lockoff or a Single Entry? Any comments/advice are appreciated!!

 

[Dean]

A couple of last dumb questions: I am sure it has been discussed somewhere here on TUG. When buying a 2/2 OV MKO (either Annual or EOY), are some 2/2L's and some 2/2 Single Entry? Will the type unit be specified on the estoppel? Is one more expensive than the other? If I purchase one, can I be assigned to either? Since we will always be requesting an ADA unit, would it be better to purchase a Lockoff or a Single Entry? Any comments/advice are appreciated!!

For reservation purposes it doesn't matter what you own vs what you reserve. ASFAIK, it doesn't matter anywhere that's floating units assuming it's all the same legal complex.

 

[dagger1]

For reservation purposes it doesn't matter what you own vs what you reserve. ASFAIK, it doesn't matter anywhere that's floating units assuming it's all the same legal complex.

So I can assume that 2/2L's sell for the same as 2/2 single entry...?

 

[TXTortoise]

Since you are buying a floating unit, I'm not sure how they would could guarantee a 2/2L vs 2/2 single, even if on the deed. It would seem to still be determined at time of room assignment, within the 2/2 view category.

It's an interesting question, could someone with a 2/2 Single deeded floating unit, differentiate it for marketing purposes, knowing it doesn't really guarantee that unit type.

 

[Dean]

So I can assume that 2/2L's sell for the same as 2/2 single entry...?

Yes because it doesn't guarantee you either. The only way to guarantee something in this situation with a floating week resort would be if they sold fixed week/fixed unit for certain times which most don't. There are sometimes ways to back in to somewhat of a guarantee by certain unit types or view types. Just like in the FL club where you can reserve lockoff's at other resorts if your home resort doesn't have lockoff's.

 

[dagger1]

Since you are buying a floating unit, I'm not sure how they would could guarantee a 2/2L vs 2/2 single, even if on the deed. It would seem to still be determined at time of room assignment, within the 2/2 view category.

It's an interesting question, could someone with a 2/2 Single deeded floating unit, differentiate it for marketing purposes, knowing it doesn't really guarantee that unit type.

The reason I asked is because I have read many ads re: MKO 2/2 OV Floating, and several have touted the fact that their units were Lockoffs, and that they could reserve it and then either rent out the studio and/or 1 BR, or split it and use it for two weeks themselves. We now have an offer in on an EOYO, first use 2019.... Hopefully all goes well and we can reserve April/May 2019 (40th anniversary).

 

[StevenTing]

Our offer of last week was turned down. We have another offer in on a 2/2 OV EOYO. So we have to get past the offer hurdle before we deal with ROFR. MKO is kind of a "would like to own" rather than a "am going to own." So if I can find a "deal", I will buy. By a deal I mean something in the neighborhood of the eBay 2/2 OV EOYO which went last August for $4850 total (all closing included.) Probably unrealistic, but....

I think you're going to have a hard time finding something at that range but it doesn't hurt to ask. Considering that closings are usually around $700-$1000, you're asking someone to accept $4000 for the week, assuming they aren't using a broker. If you do find something, jump on it.

 

[hangloose]

I think MVC is taking very few MKO weeks back via ROFR. So, the lower price you can get a seller to accept, the better. Then worry about dealing with ROFR. If you are patient, wait it out for a while to see if you can find the week you want for what you are willing to pay. You can always increase in price later as needed.

For MKO 2/2 OV EOY, I think you'll likely be in the range of $5k-6k plus CCs. If you get any lower, it's a fantastic deal. As others pointed out, for a little more, you can get EY use at $8.5k-9.5k plus CCs. If MV is acceptable, both will be cheaper.

For MKO 3/3 OV EOY, I think you'll likely be near $11-12k plus CCs. EY is around $19k-20k plus CCs.

 

[Quadmaniac]

Personally, I've never let ROFR influence my offers as it's a BUYER'S market where there are, in most cases, more sellers than there are buyers for timeshares in general. As most are not even AWARE of the resale market, the only people diving into the resale market, are those who have some knowledge of timeshares or already own a unit. Those in the know are in the minority.......

If they want to take it by ROFR, there will always be another one coming along soon. As we've seen through history, ROFR by Marriott is sporatic at best. I've had ones taken from me at relatively higher prices, but the same resort at a lower price goes through which makes no sense and previously, they were willing to buy it back for a much higher price....

It should not be a desperation situation as there will always be another. I could understand it if it's a limited supply with higher demand than supply (which could be the case for certain resorts) but in general, like DC points for example (Ko Olina too)there is no need or rush to jump on that deal unless it is a killer deal. "Patience Young Grasshopper"

 

[dagger1]

Thanks everyone. I agree, I will wait until I find someone who wants to sell.

 

[Quadmaniac]

There are 4 EOY units on Redweek for $3,500 $3,750 $3,950 and $4,000

The $3,500 unit is odd and the ad says first use is 2017 so that would be a better deal especially if you don't have to reimburse for 2017 fees.

 

[StevenTing]

There are 4 EOY units on Redweek for $3,500 $3,750 $3,950 and $4,000

The $3,500 unit is odd and the ad says first use is 2017 so that would be a better deal especially if you don't have to reimburse for 2017 fees.

All of those are MV and he is searching for OV. The next one available is $4700 OV and then it jumps to $6500, but OP is already aware of these.

 

[Quadmaniac]

Ah sorry my bad, I missed that it was OV he was looking for. Thanks for picking up on that.

 

[dagger1]

Offer has been made and accepted... Off to Marriott for ROFR process.... Now the wait... But the search continues while waiting on Marriott!

 

[StevenTing]

Congrats. If it's an EOY you should get through ROFR as I don't know if any EOY weeks that have been called back.

Would you mind sending me a PM with the amount and details?

 

[dagger1]

Just received word that Marriott waived ROFR on our 2/2 OV offer... Here we GO!!! We are happy, needless to say!