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Want to sell Westin Princeville TS. Looking for LTRBA broker recommendation.

Discussion in 'Buying, Selling, Renting' started by Kevin Koithan, Apr 7, 2017.

  1. DavidnRobin

    DavidnRobin TUG Member

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    True. However, knowing the ROFR (approx) is valuable tool for selling and buying - as it supplies information for decision making with imperfect info.
     
    dagger1 likes this.
  2. Jon R

    Jon R Guest

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    Wow, Advantage Vacations may be an "honest" broker but they're taking 44% of your sale?? Maybe that's why they're called "Advantage" because they're taking advantage of you and your need to sell your timeshare. That's practically extortion. There has got to be a better way...anyone know of one??
     
  3. vacationtime1

    vacationtime1 TUG Member

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    Yes, one can save money by selling one's own timeshare.

    But the remainder of the comment is grossly unfair and displays the writer's lack of knowledge of the marketplace about which he writes.
     
    Last edited: May 11, 2017
    chalee94 and DeniseM like this.
  4. DavidnRobin

    DavidnRobin TUG Member

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    What would you charge if this was your profession?

    Sell it yourself...


    Sent from my iPhone using Tapatalk
     
  5. md8287

    md8287 TUG Member

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    I just attempted to purchase 2 identical EOYO - WPOR contracts about two weeks apart. The sale prices were $2,800 and $3,500. The detail behind the numbers was that the:
    $2,800 included 2017 use at no maintenance fee and seller paying closing cost,
    $3,500 had no use tie 2019 included but seller pay closing costs.
    Guess which one cleared ROFR? The $2,800 one.
    Psyched as my net cost is $0 but goes to show that ROFR is not a science.
     
  6. theo

    theo TUG Review Crew: Veteran TUG Member

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    I know nothing about your particular property (nor even where it is), but I have personally met and spoken face to face at some length with LTRBA member / broker Tom Tubbs, principal of Island Consulting Realty in Sarasota, FL and I personally would not hesitate to employ his services.
    Nice guy, extremely knowledgeable and just as honest as the day is long. If he can't help, he'll say so. I know nothing about his commission structure.
    That said, there may well be other LTRBA member / brokers more geographically proximate and more familiar with your particular property. :shrug:
     
    Last edited: May 12, 2017
  7. DeniseM

    DeniseM Moderator

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    It's not 44% of the sale - it's a flat fee for a low value timeshare. This is standard in the industry. Get out your calculator and figure out the fee at 5% and you'll see why.

    Sent from my SM-T560NU using Tapatalk
     
    Last edited: May 12, 2017
  8. DeniseM

    DeniseM Moderator

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    Theo - Tom Tubbs my be a good choice in Florida, but this timeshare is in Hawaii, so a broker in Hawaii will probably be more knowledgeable about the resort and have a larger client base for Hawaii.
     
  9. theo

    theo TUG Review Crew: Veteran TUG Member

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    Agree wholeheartedly; I should probably have ascertained the location of the resort at issue before chiming in.
     
  10. Kevin Koithan

    Kevin Koithan Guest

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    Follow-up. Vistana did invoke their right of first refusal. I've signed the paperwork and should close soon.
     
  11. md8287

    md8287 TUG Member

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    At what price point?
     
  12. Kevin Koithan

    Kevin Koithan Guest

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  13. sjcousins11

    sjcousins11 TUG Member

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    Does the ROFR expire at any time? If the purchase goes through, can Westin come back to the buyer in the future and say "just kidding we want that property back". Or if the process moved forward would they have lost their opportunity?
     
  14. vacationtime1

    vacationtime1 TUG Member

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    Vistana's ROFR is a one-time thing; they use it or lose it. And overall, they seldom use it.
     
  15. md8287

    md8287 TUG Member

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    They do use in Hawaii. Lost two to it this year.
     
  16. dioxide45

    dioxide45 TUG Review Crew: Veteran TUG Member

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    The only way they could possibly come back is if the week was never submitted for ROFR. But I would suspect they wouldn't even recognize the transfer if that happened.
     
    md8287 likes this.
  17. Jon R

    Jon R Guest

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    Hey that's great news right?
    Was your other offer for $4500?
    In other words, did Vistana match the price?
    So now you avoid brokers fees....any other fees to Vistana?
     
  18. DeniseM

    DeniseM Moderator

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    Yes - that is how ROFR works - Vistana has to pay the price it was sold for. Kevin gets paid either way, but his buyer is probably disappointed.
     
  19. md8287

    md8287 TUG Member

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    So this is a real challenge. I bought an EY unit and now want to sell my EOY unit. I've been offered $3,500 plus fees but if Westin will ROFR at $4,500 then anything less than that is useless and will disappoint the buyer. Any suggestions on legitimately structuring a sale at $4,500 or $5,000 that will pass ROFR?
     
  20. hekela1206

    hekela1206 Guest

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    Hi Denise! I am actually looking to buy at the Westin Princeville, what does "it has no deeded views" mean? Its a right to use property?
     
  21. DeniseM

    DeniseM Moderator

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    Westin Princeville was not sold with deeded views. In other words, all deeds are "Island View," so while owners have priority for a good view, there is no guarantee where you will be placed. At the Maui resorts, you can buy a deeded view.

    I see no value in buying there - to be quite honest with you, I would not even accept a free deed there because the maintenance fee is too high.

    I just traded in through II with an inexpensive SDO exchange. This is the 3rd time I have traded in using my SDO week.
     
    Last edited: Oct 30, 2017
  22. hekela1206

    hekela1206 Guest

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    Thanks for your input!! I actually own at wyndham Bali Hai that I purchased in 2008 for next to nothing but was looking to upgrade to a two bedroom. I love the north shore and I trade through RCI, not II unfortunately or else I would try that. Any recommendations on what other properties to look at there? I was planning on going back in Oct 2018 to elope but really wanted a 2 bedroom for long term!
     
  23. DeniseM

    DeniseM Moderator

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    Have you been to the Westin Princeville?
     
  24. rickandcindy23

    rickandcindy23 TUG Review Crew: Expert TUG Member

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    Voluntary resorts lose their value because the points don't transfer to new buyer. So retail buyer pays huge $$$ for this voluntary SO week, resale value is terrible, Vistana buys back, and resells to some other victim and pockets the profit between $4,500 and purchase price. Disgusting. Really sleazy.
     
  25. rickandcindy23

    rickandcindy23 TUG Review Crew: Expert TUG Member

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    Look at Wyndham Shearwater. The fees are around $1,500 for a week, and it's two bedroom with all units having ocean views. The best views are what owners get. Buy a penthouse (any unit starting with a 3 (302,303,304,310,311, etc.) and you have the best possible views. Ebay has Shearwater for sale a lot. Watch for a while. :)
     
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