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Sheraton Flex Resale-Nuances, please help?

skibummer

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All of my Vistana VOIs are mandatory resale (thanks Tug), but we love to ski at Steamboat and looking to buy resale Sheraton Flex for that reason. I am not interested in Westin Riverfront nor can I find a true deeded Steamboat week (very rare) for less than $20,000+. I understand most of the Sheraton Flex resale details, but I still have several questions regarding the resale limitations:

1. I am potentially looking to close on resale Sheraton Flex later in 2019, but I do not have any more time in 2019 to use the Sheraton Flex HOs this year. If the owner (original developer purchase) banks the 2019 HO points before the closing will the HO points convey to me or what happens to them? I don't want to think that the owner banked his HO points and then when the VOI transfers to me the HO points are not there. If the 2019 banked HOs transfer to me will they work as SO or only HO just for the following year the original owner banked the HO points? (I am tried to figure out just for the owner banked points what happens to them and if they can transfer as part of the sale and what limitations that banked points will have for me)

2. Is my understanding correct that once I own Sheraton Flex resale I as a resale owner will not be able to bank HO points at all? Does that mean in subsequent years that if I can't use points from (for example) 2020 in 2021 (even at just the Sheraton Flex resorts)?
 

Markus

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The banked options would not convey to you, they would stay in the previous owners account if they have other voi’s, otherwise they are lost. The only thing that can be done with the 2019 options for your benefit, is a reservation for use. Otherwise, you might stipulate in the closing that your first use year is 2020. This way you do not reimburse maintenance fees for 2019, and the owner can now make a 2020 ski week reservation which will convey on closing.

I am uncertain about the ability to bank flex weeks on resale.

Markus.
 

Sicnarf

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I own 5 Sheraton Flex VOIs bought from developer. Banking only applies to SOs and since Flex resale is not SO eligible, you won't be able to bank flex HOs. Any bank SOs will be lost after the resale transfer.
The only option is to book an II reservation and put you as a guest since II can be reserved up to 2 years ahead
 

DeniseM

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Clarification:

#1 You cannot bank Home Options - You can only bank Staroptions.

#2 Flex resales are VOLUNTARY - they do not have Staroptions or Starpoints, so no, you will never be able to bank or borrow Staroptions, because you won't have any Staroptions.

#3 You cannot receive the previous owners banked Staroptions, because of #1 and 2 above.
 

dioxide45

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How do housekeeping credits work with Sheraton Flex? I know with weeks, you get one per VOI (lockoffs get two) each year. Say you have 44,000 Flex Options, how many HK credits? What if you had 148,100 HomeOptions? Is there more HK credits?
 

tschwa2

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How do housekeeping credits work with Sheraton Flex? I know with weeks, you get one per VOI (lockoffs get two) each year. Say you have 44,000 Flex Options, how many HK credits? What if you had 148,100 HomeOptions? Is there more HK credits?
I don't know the answer, but they might just build the extra cost into the management fee portion of the MF for each trust.
 

dioxide45

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I don't know the answer, but they might just build the extra cost into the management fee portion of the MF for each trust.
That is what I was wondering. Perhaps there are no HK fees. Would be good to know. We tend to use our Vistana StarOptions for shorter stays and we burn through our two HK credits in no time.
 

WorldTraveler1972

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I was told that sheraton flex is a considered a mandatory resort. Is this not true?
 

SandyPGravel

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I was told that sheraton flex is a considered a mandatory resort. Is this not true?

I don't think so. Flex is a program(group of resorts) not an individual resort.
 

bizaro86

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I was told that sheraton flex is a considered a mandatory resort. Is this not true?

That isn't true. Resale buyers of flex can only use the resorts in flex.

They don't have staroptions, which means they can't use the other Vistana resorts, nor can they bank/borrow.
 

cubigbird

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Since you can not bank due to resale, your only real “bank” option is to drop into II for future use.
 

DeniseM

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I was told that sheraton flex is a considered a mandatory resort. Is this not true?

Nope - you were lied to - by a sales person?

These are the ONLY mandatory resorts:

* Harborside at Atlantis
* Vistana Villages (Bella and Key West phases only)
* Westin St. John (Virgin Grand - Hillside only)
* Westin Ka'anapali & Westin Ka'anapali-North
* Westin Kierland Villas
 

dioxide45

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I don't know the answer, but they might just build the extra cost into the management fee portion of the MF for each trust.
I called Vistana today to ask this question. Of course you can never rely 100% on the answer from phone reps, but the answer was that you still only get one HK for free per VOI. So if you own a single 148,100 FlexOption contract, you only get one HK free. This would be unlike a 2BR-LO where you would get two. I then tried to get an answer about the MF for Sheraton Flex. They transferred me to the HOA department who couldn't answer the question. They said it depends on the VOI and what season you own. They are clueless. There are no seasons with Sheraton Flex. The MF is per point. I just am trying to confirm how much it currently is per point. They couldn't tell me that. They would need a contract number to be able to say how much the MF was. :mad:
 
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dioxide45

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I don't think so. Flex is a program(group of resorts) not an individual resort.
I have seen an estoppel for a flex contract and it indeed indicates it is voluntary.
 
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