Need help uregently!!

[ani111]

Thank you, thank you ... I cant thank you enough for all for the words of advice.

We have decided do back out of contract while we still have time. I plan to do some research and then get into this.

I must confess though - until now I had just heard about timeshares and now I have the bug. I am certain I will spend a lot of time researching!!!:whoopie:

 

[PerryM]

The next step...

Thank you, thank you ... I cant thank you enough for all for the words of advice.

We have decided do back out of contract while we still have time. I plan to do some research and then get into this.

I must confess though - until now I had just heard about timeshares and now I have the bug. I am certain I will spend a lot of time researching!!!:whoopie:

I am a proponent of WorldMark – I believe a membership belongs in everyone’s timeshare portfolio.

You can buy a 6,000 WM credit account for 70¢ (Resale) each or $4,200 + $150 transfer fee. Buy today, start to use it in a week. The MF is $425.75 per year.

With that you can immediately borrow 6,000 credits from next year’s usage and get 12,000 credits which will get you a 2BR in Maui any week of the year you want.

It is one of the most powerful exchangers in II and RCI – takes 10,000 credits for a Red 2BR week.

You can then rent unlimited quantities of credits for between 5 – 7¢ or to spend another week in Maui would cost you $500 - $840 per week.

Check it out, and good luck.

 

[DavidnRobin]

Thank you, thank you ... I cant thank you enough for all for the words of advice.

We have decided do back out of contract while we still have time. I plan to do some research and then get into this.

I must confess though - until now I had just heard about timeshares and now I have the bug. I am certain I will spend a lot of time researching!!!:whoopie:

You are not the first - nor the last. Just be thankful that you found TUG before the rescind period is over - most buyers do not...

Please join us on the Hotel-based section of TUG.

http://www.tugbbs.com/forums/forumdisplay.php?f=30

If you - like we did - want to own SVO OF and willing to pay a premium for it - you can save almost $20K off of this price. And even more if OV/IV units suit your needs. I have posted a link to some photos on the hotel-based board. We love our SVO resales - and like the system. But, compared to other TSs - you do pay a premium for SVO. Whether that is worth it to you (or not) is an individual choice - but do your research... RRR(&R)
Rescind, Research, Resale (and Requal) - once you have figured out the 4th 'R' - you will be a SVO expert.

 

[LisaRex]

I didn't attend the sales presentation at all before I bought because I don't believe in paying from the developer. What you end up paying for is all their marketing promotions, including discounted nights for the sole purpose of getting you to way overpay for a room.

As others have said, $68,000 is a boat load of money and it doesn't include MFs. If you really love the property, then buy resale. The only thing that you lose, IMO, is the ability to convert to hotel points. One Tugger just rented her 2 bdrm OV villa for $3400. That amount will buy you a great room at just about any Starwood hotel in the world, plus you'll earn StarPoints if you pay cash.

Besides, the StarPoints that the salesman is promising today WILL decrease in value as time passes. SPG members were recently hit with a significant devaluation in StarPoints, with points needed per night increasingly significantly. However, the number of StarPoints you get for your villa will remain static. In other words, today if you convert, you might be able to get 7 nights in a Cat. 4 hotel, but in a few years you'll be lucky to get a week in a Category 3. So take the conversion to StarPoints option with a grain of salt.

FWIW it took me less than 3 weeks to find an owner who was willing to sell her OF 2 bdrm lockout at WKORV-N for $52k with 2008 MFs paid. For less than some are paying for OV, I will enjoy a guaranteed OF room every year.

Do your homework and I think you'll find that buying resale has very few downsides.

 

[DavidnRobin]

Hi there,

I need your help urgently - my husband and I endedup signing up with Westin Maui Kanapalli Ocean Villa resort - 2Bed, Float , lockout unit for 1 week @ $68K

Now we are second doubting ourselves since a lot of them are availabel for resale at a lot less. We have 7 days to cancel and needed your comments on the price.

Thanks!!
AD

Was this a OV or OF unit?

 

[KenK]

You have doubts. You need to learn more. If you let the rescind time pass, you will lose all choices.

I Agree with John....except CDs in NJ are at 5.35%......... (Hudson City & Wash Mutual)

You WILL NOT BE ABLE TO BACK OUT LATER. You can now. Thenyou can see if this is for you.

Until you learn more, you need to rescind...and you need to take more than 7 days to learn how these work....
....of course unless your $68,000 is a drop in the bucket and means very little to you & your family.

 

[johnmfaeth]

Hi Ken,

I waa figuring 4% after taxes assuming the 68K was invested in a tax free muni bond fund for her state.

I'm still trying to figure out a dog sitting arrangement for the 15th so I can make the beach party.

John

 

[KenK]

I will check if you can bring the dog.....not sure, our neighbor received a tix for having their Newfoundland dog run free in the sand in April (Well before anyone goes on the beach)

But, maybe they will say ok on a leash. (Ummm....you can run with him as long as you hold the leash.) The Jersey Shore University Medical Center is real close


I didn't think about tax free munis. I have a real problem when someone spends so much on something they are not sure about, no one here knows their financial position, and the doubts.....the doubts are enought of a reason to get out if you can, until more is understood of the product.

The Ramada Hollywood Beach Resorts condo apartments (full year ownerships 1 bed 1 bath- and the Red Buttons Century Villages in the 3 areas of SE Fl have fallen down to under $100,000 to about $80,000 for a regular full year lifetime deed ( Except Century Village is 55 & older....but I can now find many places for full ownerships for just a little more than that one week mentioned above.


I know....RE is in big trouble for many people...and I hate the Ramada mentioned above, even if beachfront.....but......it needs help...( A new management company)

For anyone wanting Fl....look all over, my cousins brand new Alva house has gone down almost $90,000 from last year, and Levitt still can't sell anything.