Considering Buying Resale 2 bedroom EOY at WKORVN

[FamilyEsq]

Hello,

My family and I have been visiting Maui every other year for the last eight years for three to four weeks. After taking tours of Hyatt Kaanapali, Marriot Ocean Club and Westin Nanea, we have decided to purchase two resale EOY Even weeks at WKORVN. We would like to use the weeks to split the lockoff and use 2 weeks with a one bedroom and 2 weeks in a studio.

I found a listing on for $4000.00 for an IV 2 bedroom at WKORVN EOY Even. The real estate agent quoted closing costs of approximately $1300.00.

I called Syed Sarmad to discuss a purchase. We discussed the ROFR. He thought Westin would exercise their option on any purchase below $6500.00 for 2 bdrm at WKORVN EYO. Has this been everyone elses' experience? I check the Vistana ROFR thread. I didn't see much info on this particular purchase.

Finally, does it make sense to wait until next year to make this purchase and hope to avoid the MF for 2019 that I would incur if I purchased now.

The time period that we would be traveling would be July or August.

Please let me know if you have any advice. Thank you.

 

[CalGalTraveler]

Welxome to Tug.

Re ROFR You have nothing to lose by trying except time. If it were me and I knew I wanted the unit I would try. ROFR will not go down after the merger. You might have a window where ILG takes their eye off the ball.

You will be paying approx $2,800 x 2 or $5,600 for a month in an IV unit. Have you also compared to renting a condo via AirBnB or VRBO for a month?

 

[taterhed]

Just bought at WKORV.

Syed Sarmad is a great guy, smart and knows his business. The only reason I didn't purchase from him was: a)he didn't have what I wanted at the time.... b)I was price shopping
I will pm you a suggestion for a broker that I've mentioned here before....they have a WKORV/N unit and may have more. They are great to work with . Really

Your questions:

• IF you use the week....expect to pay for it once way or the other. Higher price or actual MF billing or ???? No free lunch....but I see your point. My gut (worthless) opinion? I don't think prices are going down. I do think there will always be more inventory to buy. My advice? Take some shots and expect to fail once or twice.
• IV units have the same MF as OV/OF units. They are less desirable. I think you'll find the ROFR more variable. Take some shots
• Anyone that tells you what will or will not pass ROFR right now is guessing. Better to guess with your own money. On IV, I think the price is low but not crazy. Who knows. As always, put every cent into the ROFR submission (fees, closing etc...) to improve the odds
• You need 12 mos to the day to book. So plan on buying and having available to book by 12 mos. That's less than year, minus 45 days for closing min. Plus prices and demand cycle on EOY's
• Want some ideas on prices? ROFR.net ( I think WKORVN is on there?) and check this Myresortnetwork.com
• Consider buying BOTH EOYE and EOYO from the same owner on the same contract (if available). You might be able to increase your odds a bit...... you never know.
• You realize that 2 weeks in 1br and 2 in studio (I assume you mean 2x1br one year and 2xstudio the next) will mean one is an SO reservation, right? If that's the case, why not just by annual. You can still do SO reservation and even just book 1br on week one and book 6 nites 1br on next week (SO). 1 less day, but all 1br. Or you could buy small SO contract and have enough SO's for full week in 1br.
• Why Island View in the north? Yes, North IV is much better than south. But, higher MF's (which last for full ownership, not just 1-time purchase), smaller units. Why not buy EOY or annual OV at south? Bigger units, smaller fees and not that much difference in price. If you book early/quickly, you can have a great view as well.

Cheers.

edit: I may have misread the OP's post.

I now believe the OP wants to stay in Maui--every other year--for 4 full weeks--using the master portion of two units back to back, 2 weeks (same room) then the studio portion of two units back to back, 2 weeks (same room).

My answers will change, as this would NOT be a star options reservation, just a potentially difficult reservation (4 of them). I will PM the OP directly .....