Need Advice about Vistana Purchase Agreement

[HeidingOut]

I'm in need of more advice. I'm buying another Vistana contract this time with mandatory points. The owner told me to send over the purchase agreement so he is leaving it in my hands. I've contact LT Transfers to do the transfer. But, the owner has points available for me to use in 2018. I've read on here some horror stories about Vistana keeping the current year points instead of transferring them to the new owner. I am not reimbursing the owner for the 2018 maintenance fees. It will just be an incentive to purchase. I want to make sure that I cover this in the sales contract to avoid any issues with Vistana transferring over the points to me once the sale is complete. Any advice on how to word this into the contract so there are no issues?

 

[VacationForever]

I'm in need of more advice. I'm buying another Vistana contract this time with mandatory points. The owner told me to send over the purchase agreement so he is leaving it in my hands. I've contact LT Transfers to do the transfer. But, the owner has points available for me to use in 2018. I've read on here some horror stories about Vistana keeping the current year points instead of transferring them to the new owner. I am not reimbursing the owner for the 2018 maintenance fees. It will just be an incentive to purchase. I want to make sure that I cover this in the sales contract to avoid any issues with Vistana transferring over the points to me once the sale is complete. Any advice on how to word this into the contract so there are no issues?

Just document exactly what you have stated here in the Sales and Purchase agreement. LTT has a template that you can use and modify from.

 

[HeidingOut]

I received a copy of their template yesterday. So, I should just write in there, "all 81,000 StarOptions from 2018 will be transferred to the buyer's Vistana account #123456 upon completion of the sale"?

 

[wtrjock]

We bought 2 resales last year that were in a similar situation. The current year star options transferred to our account just fine. The owner had banked options, but those will not transfer unless the buyer is a relative. Unfortunately the transfer finished after we could bank, so we had to use them or lose them...made for a great October Cancun vacation! Before Nov 2nd, you can get a 2br at Laguna Mar for 81000! The weather was perfect!

 

[dioxide45]

I received a copy of their template yesterday. So, I should just write in there, "all 81,000 StarOptions from 2018 will be transferred to the buyer's Vistana account #123456 upon completion of the sale"?

The contract only needs to mention the first use year to the buyer. Nothing more. Points don't transfer, the usage does and with usage comes the points. Don't confuse the contract too much. First use is what is important. So indicate that buyer gets first usage in 2018.

 

[HeidingOut]

The contract only needs to mention the first use year to the buyer. Nothing more. Points don't transfer, the usage does and with usage comes the points. Don't confuse the contract too much. First use is what is important. So indicate that buyer gets first usage in 2018.

Perfect. I do tend to over complicate things. Seller seems to be nonresponsive about getting me a copy of the deed at the moment. So, we will see what happens. It maybe a dead deal anyway.