Advice please: should I buy resale @ Hyatt Hacienda del Mar?

[cookinmamma]

Earlier in the year there were posts saying the rules are different and it might not be a good idea to buy in Puerto Rico, and maintenance fees are higher b/c owners aren't paying maintenance fees.

Any reason why points there are not like points anywhere else in Hyatt? I'm looking at a really good deal and wondering what the risks are.

 

[Carmel85]

Earlier in the year there were posts saying the rules are different and it might not be a good idea to buy in Puerto Rico, and maintenance fees are higher b/c owners aren't paying maintenance fees.

Any reason why points there are not like points anywhere else in Hyatt? I'm looking at a really good deal and wondering what the risks are.

What are you buying? Week ? points? How much? Closing costs?

Once we start there more of us can give you a direction.

Vote Steve Dallas for HOA BOARD TAHOE!!!!!

 

[cookinmamma]

Hi C85 - - How does $11,000 for 2000 pts, closing costs around $1000 sound? Like it won't pass rofr probably, but at that price it seems worth a shot. Assuming there are no other reasons not to buy at Hacienda Del Mar, that is.

I know the maintenance fees are higher, but I think I could live with that at this price. What do you think?

Any reason not to buy there just for the points? I'm wondering about what happens to maintenance fees if there is a hurricane (Key West must have the same issues)- -can't find provisions about special assessments. Does anyone know?

Thanks!

And yes, I'll be voting for Steve Dallas. He's got friends in the right places . . . and haven't heard a thing about the others.

 

[PA-]

Hi C85 - - How does $11,000 for 2000 pts, closing costs around $1000 sound? Like it won't pass rofr probably, but at that price it seems worth a shot. Assuming there are no other reasons not to buy at Hacienda Del Mar, that is.

I know the maintenance fees are higher, but I think I could live with that at this price. What do you think?

Any reason not to buy there just for the points? I'm wondering about what happens to maintenance fees if there is a hurricane (Key West must have the same issues)- -can't find provisions about special assessments. Does anyone know?

Thanks!

And yes, I'll be voting for Steve Dallas. He's got friends in the right places . . . and haven't heard a thing about the others.

$11K for 2000 points sounds like a good deal. You might be able to find lower, but not much. I don't think there's any chance Hyatt will exercise ROFR on this deal.

I think the risk is that fees go up faster than normal, if it's true that there's an excessive delinquenc rate.

 

[Carmel85]

cookinmamma

I have discussed you numbers with a few Hyatt owners that live here in Carmel,Ca today and they ALL said they would pass and I would have to agree stay away from San JUAN PR.

They all did say if that same deal was anyplace else which with a little hunting there is buy it. Yes it might be a extra $1000 to 1400 but in is in the long run it is worth buying on the mainland.

Send me a PM if you want more insight to PR and why not to buy there.



Thank you for your voting for Steve Dallas HOA BOARD Lake TAHOE ballots come in the mail next week.

 

[Kal]

Carmel is correct to let this one pass. PR is the only property in the Hyatt system that has any question whatsoever. Besides, it will take up to a year just to get the sale thru because of the PR property purchase requirements.

By the way, Hyatt properties in the hurricane zone are covered by insurance. There is a high deductible, but severe damage should not cause a huge special assessment. Sunset Harbor in Key West suffered water and wind damage from Wilma a few years ago. There was no special assessment as a result of that damage.

 

[mesamirage]

I also agree that the reward (saving $1500 or so on resale price) is not worth the risk. I would have to get a substantial discount on the resale price to consider taking on the risk.

Happy Hunting!!

 

[cookinmamma]

Thanks for your advice, everyone. I just called the broker and told him not to wait for me on this. . . . but I can't help feeling like I'm passing up a good deal (like the pair of shoes or outfit that I go back for the next day and are gone).

But I don't understand why it has more risk b/c it's not on the mainland - would that also apply to buying at Maui and Bermuda (not that I'll be able to afford those!)?

Thanks again!

 

[benjaminb13]

I hear there are some great deals on 1880 points-
You may want to check with Seth or the broker you use

 

[cookinmamma]

I hear there are some great deals on 1880 points-
You may want to check with Seth or the broker you use

Thanks. I'll send Seth a note to see if he has anything. I wasn't really even looking - - a broker called me about this deal and now it's gotten me thinking about more points . . . Dangerous!