Anyone else purchase a deeded week from Embassy Suite at KBC?

[Walt]

We own a deeded odd week at KBC which is paid for. We purchased it from Embassy Suites and never converted to points or to the Hawaiian Collection. We are now 81 years old and have no desire to make the long trip to Maui from Wisconsin. We would like to get rid of this week which is an odd years Ocean Deluxe view one bedroom. My questions are 1)Does KBC have any value? 2) If not, are there timeshare people out there wiling to take over ownership and the $1600 in MF? The Maintenance Fee for this year is paid. 3) Does the deeded week have any more value than a Hawaiian Collection? 4) I am assuming that Diamond still list this week as a odd year ocean deluxe deeded week. Could they have the legal right to convert this week into points or into the Hawaiian Collection without my knowledge.
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[geist1223]

A Deeded Week does have more value than DRI Hawaiian Collection Points. Also MF's are normally less for a Deeded Unit than an equivalent number of DRI Points. DRI Points are commonly given away for free with the Sellor paying all transfer costs. DRI can not change a Deeded Property into Hawaiian Collection Points without your consent.

 

[Walt]

A Deeded Week does have more value than DRI Hawaiian Collection Points. Also MF's are normally less for a Deeded Unit than an equivalent number of DRI Points. DRI Points are commonly given away for free with the Sellor paying all transfer costs. DRI can not change a Deeded Property into Hawaiian Collection Points without your consent.

Thanks for the information.

 

[dougp26364]

This week should have value.

1. it’s a very nice resort in a popular destination
2. It’s a desirable location
3. Depending on the season, it could be a great week for a couple that enjoys Hawaii, but can’t afford to get there every year.
4. DRI is going to be merged in HGVC. Someone willing to take a chance on favorable conversion rights might want it for taking a flyer on getting great access into HGVC. Of course this would be a big assumption, but IMHO, the leap of faith has very little downside and a great deal of upside.

 

[Walt]

This week should have value.

1. it’s a very nice resort in a popular destination
2. It’s a desirable location
3. Depending on the season, it could be a great week for a couple that enjoys Hawaii, but can’t afford to get there every year.
4. DRI is going to be merged in HGVC. Someone willing to take a chance on favorable conversion rights might want it for taking a flyer on getting great access into HGVC. Of course this would be a big assumption, but IMHO, the leap of faith has very little downside and a great deal of upside.

Thanks Doug
The week is listed as Week 51.

 

[TJALB]

I would have to disagree regarding the KBC deeded week having much value as far as resale. I purchased 2 annual deeded weeks at KBC several years ago. I purchased one for $1.00 and I paid closing fees and the second one for $100.00 and again I paid closing fees. I regularly look at KBC resales listed on both TUG and Redweek. They are still often offered for $100.00 or less. I eventually converted both of my weeks into points by purchasing an additional 8K points from DRI and converted to the Club. But, I think that saying the deeded week this gentleman is asking about has very much value at all is misleading. Although KBC is a nice resort however, it has very little resale value … in my opinion.

 

[TJALB]

We own a deeded odd week at KBC which is paid for. We purchased it from Embassy Suites and never converted to points or to the Hawaiian Collection. We are now 81 years old and have no desire to make the long trip to Maui from Wisconsin. We would like to get rid of this week which is an odd years Ocean Deluxe view one bedroom. My questions are 1)Does KBC have any value? 2) If not, are there timeshare people out there wiling to take over ownership and the $1600 in MF? The Maintenance Fee for this year is paid. 3) Does the deeded week have any more value than a Hawaiian Collection? 4) I am assuming that Diamond still list this week as a odd year ocean deluxe deeded week. Could they have the legal right to convert this week into points or into the Hawaiian Collection without my knowledge.
.

They could not convert it without your knowledge. In fact, they charge additional money, usually a percentage of what you own, to convert to points. If you bought at Embassy KBC you would automatically be in the Hawaii collection. As far as resale value I would say not too much value at all. For example, I purchased 2 resale KBC from TUG. I paid $1.00 for one and $100.00 for the second one. They were both partial ocean view. In addition to what I paid for the deeds I also paid closing costs of approximately $400.00 each. I think you would have a good chance to unload them but, you may very possibly need to pretty much give them away. If you’re going to do that and avoid 2022 maintenance fees you need to do it ASAP. It takes a very long time to transfer deeds in Hawaii. I‘ve purchased 2 diamond and 2 Westin in hawaii and they always take about 4 months to complete.
Your other option is to rent them out On TUG MarketPlace. I think you’d also have a fair chance to rent your weeks if you ask for your maintenance cost amount And n thing more. But again, you’d need to do that soon as well. The longer you wait the less likely that you’ll be able to secure a desireable date for potential renters.
Good luck!

 

[Almond123]

There is also DEX which is Diamonds exchange system. I have a deeded week at KBC and use DEX to trade for a week on the east coast. My week is a tier 5 so I have a lot of choices to pick from.

 

[artringwald]

Thanks Doug
The week is listed as Week 51.

The deed may say it was week 51, but is it a floating week that you can book for any week of the year, or a fixed week that you can only book for week 51? If you want to sell it or give it away, you should ask the resort for an estoppel letter (for a small fee) than will verify exactly what usage is tied to the deed.

 

[Walt]

Thanks for the information. It hard to believe that they can sell the timeshares with a straight face knowing there is no investment value in them. When we brought our first timeshare 30 years ago they did say this was an investment asset with real estate value

 

[travelplus]

We have 2 Tier 5 Weeks at Sedona Summit and Villa Mirage.

 

[trippka]

I purchased a 2BR Kaanapali week a few years ago for about $3500 total costs. The 2BR units are very limited (about 16 total?) and I was happy to get it. However, there was a clause in the contract that they could increase the maintenance fees by 25% per year, and they did. After a couple of years I was paying about $700/night for this non-oceanfront room. I think that perhaps this clause kicks in if it isn't the original owner, so it looks like maintenance fees are low when you purchase. It is a bit of work, but I suggest you book the Christmas week and rent it out for about $4000/week. (Do you own research on booking dot com, etc.) You might be able to find an owner, but with the upheaval with Hilton buying Diamond, and lots of rumors about Hilton investing in KBC to bring it to their standards it might be worthwhile to keep it for a year or so and rent out in the mean time. TUG and Redweek are both good options. You can get a turnkey rental (where they handle everything for you for a fee) on Redweek if you don't want to be too involved with vetting a renter, etc.