Questions on sales document

[patrickg]

I am about to buy a resale at Ko Olina from timesharing2000.com

They have sent me sales document that reference a specific week and a specific unit number. As it is a platinum floating week 1-50 I am confused? Why would it mention a specific week? Also why would it mention a specific unit, when my understanding is that I will end up staying in any unit there as long as it is oceanview (the type I am purchasing)

Any advice would be great

 

[Dave M]

Marriott floating week deeds, like deeds for most floating-week resorts, show that you own a specific piece of real estate. It's that specific-week, specific-unit designation that proves that you own a part of that resort.

However, at least for Marriott and specifically for Ko Olina, those designations are, as you hoped, purely for identification and legal ownership purposes. They have no other purpose. You have no right to occupy that particular unit nor do you have a right to stay there that week. When you call Marriott Owner Services to make a reservation, you'll reserve whatever week you want (if it's available), without regard to what your deed states.

 

[patrickg]

Thanks Dave-I was hoping that was the facts

I have purchased an odd EOY ownership, and will not be travelling to Hawaii in 2009 so will definitely need to exchange-likely to one of the Marriotts in Spain. What will be the process? As soon as my ownership is finalised, do I then reserve a week via Marriott then join II and give them the week, and ask for an exchange? Ideally I want to stay in Spain in June or July in 2009. Are these timings realistic to achieve this?

Thanks

 

[Dave M]

Yes, you have the process correct.

Reserve the very best 2009 Ko Olina week that you can. That means the week that you believe other exchangers will be willing to die for (almost). A school vacation week, a summer week, etc. Consider asking the current owner to reserve that week for you and then transfer it to you as part of the closing process.

Is an exchange to Spain next summer realistic? Yes, especially if you get your exchange request as soon as (1) Marriott recognizes you as an owner and (2) you join II and ask II to add your Ko Olina ownership to your account.

 

[patrickg]

Thanks Dave