BETTER THAN FREE: Summer Bay 3BR Lockoff Wk 1-6/18-23/35-50

[MichaelColey]

I'm getting ready to deed back my Summer Bay 3BR Lockoff with a floating week 1-6/18-23/35-50. The deedback will cost me about $600 (all inclusive), so I figured I would see if any TUGger would be interested in it first.

This floating week excludes Spring Break, Summer and Christmas, but DOES include Thanksgiving, which I believe is the highest TPU option (34 + 30 = 64 for Wk47/2014 if split and deposited separately) besides Christmas / New Years and a few summer weeks. I've had no problem getting that week in the past by prepaying Maintenance Fees and booking it a year in advance. Maintenance Fees are about $850/year.

I would be willing to pay someone $300 to take this timeshare. You would be responsible for all closing costs and 2014 maintenance fees, and your usage would start with 2014.

I'm supposed to receive the deedback paperwork in a couple weeks, so this offer is only available until then. If I don't have a firm offer by the time I receive the paperwork, I'll proceed with the deedback.

 

[csxjohn]

This is a good example of someone trying in earnest to give his TS away.

If the buyer used the right title company such as Legal Timeshare Transfers they could walk away with a TS and $150 to boot!

A three bedroom lock off in Orlando would be ideal for someone with a large traveling group visiting the Orlando area. 3 br units don't come along too often.

 

[durrod]

I'm getting ready to deed back my Summer Bay 3BR Lockoff with a floating week 1-6/18-23/35-50. The deedback will cost me about $600 (all inclusive), so I figured I would see if any TUGger would be interested in it first.


I'm supposed to receive the deedback paperwork in a couple weeks, so this offer is only available until then. If I don't have a firm offer by the time I receive the paperwork, I'll proceed with the deedback.

Summer bay accepting Voluntary deed backs it's new news to me and a recent change of policy, since up to last year they were not accepting any deed back. If they are doing it now it's good then as an alternative to any person looking to end their ownership. Only bad thing its they want a substantial amount to give their week back. Want to add a valuable benefit to anyone considering this. Summer bay allows day use of the facilities as far as I know.

 

[tschwa2]

$600 is not substantial. It is less than 1 years MF. Generally 1-2 years MF plus $300-$400 closing/transfer seems in the high but reasonable range.

 

[MichaelColey]

They started accepting deedbacks in November 2012.

I'm not sure all of the details (and they've already changed at least once since November), but here what I do know:

1) They're not accepting all units. Only ones that they feel they can resell.

2) For now they're charging a $250 deedback fee (to cover all paperwork, processing, and presumably a bit of profit).

3) Depending on the demand of the week, you'll also have to pay at least part of a year's maintenance fees. They have spreadsheets that they can look up what the deedback offer would be for a specific ownership.

4) The timeshare must be paid off and you must be current on your maintenance fees and everything.

 

[MichaelColey]

$600 is not substantial.

Yep, not bad at all.

When you consider I originally bought it for $1 and owned it for 4 years, another $600 isn't bad at all. I will end up having paid less than $4000 over the life of the ownership (original purchase, four years of MFs, and the cost to get rid of it), and I got eight good exchanges out of it. Not bad for a first purchase.

But now I own better ones (at least for my travel style), so I'm getting rid of this one.

 

[csxjohn]

$600 is not substantial. It is less than 1 years MF. Generally 1-2 years MF plus $300-$400 closing/transfer seems in the high but reasonable range.

+2 for this statement.

Very reasonable when you consider people are paying thousands to PCCs to maybe get rid of their obligation.

 

[celperf]

if i take this how much i will have to pay? or i dont pay nothing and receive 300 usd?

can i exchange with Interval?

 

[MichaelColey]

You would get paid $300 to take it. You would be responsible for closing costs, which should be less than $300.

As far as I know, Summer Bay is only affiliated with RCI.

 

[Ridewithme38]

Why do we only get $300 but the timeshare company gets $600?

 

[tschwa2]

This floating week excludes Spring Break, Summer and Christmas, but DOES include Thanksgiving, which I believe is the highest TPU option (34 + 30 = 64 for Wk47/2014 if split and deposited separately) besides Christmas / New Years and a few summer weeks. I've had no problem getting that week in the past by prepaying Maintenance Fees and booking it a year in advance.

I gave away my Summer Bay TS last year and I had points but the info I received with my MF invoice always indicated that float weeks could not choose which week got deposited to RCI. You could reserve a specific week for your own use or to rent out or to deposit with an independent exchange company but if you wanted to deposit with RCI they would release your reserved week and you would get a pre-bulk banked week in your season but not of your selection. Did they actually let you deposit the Thanksgiving week with RCI?

 

[MikeCinNYC]

this may be a silly question.... I have never been to Orlando as an adult.
Is it south enough to be able to use the pools at the resort all seasons?

Historical temp reading aren't showing a clear answer to me as it looks like there are big swings.

Obviously there would be cold snaps where you can't, but not sure if this is the case all winter.

I'd love to take this from you but am not sure if the family could use the pool during the winter months.

 

[maddog497]

this may be a silly question.... I have never been to Orlando as an adult.
Is it south enough to be able to use the pools at the resort all seasons?

Historical temp reading aren't showing a clear answer to me as it looks like there are big swings.

Obviously there would be cold snaps where you can't, but not sure if this is the case all winter.

I'd love to take this from you but am not sure if the family could use the pool during the winter months.

Although I can't speak for this resort I am fairly certain that most if not all the resorts heat their pools. That has been our experience.

 

[mav]

We stayed there in a pool house and the pool was definitly heated.

 

[Carol C]

Why do we only get $300 but the timeshare company gets $600?

You greedy little bugger! It's still better than free...just like the subject header says. Let's not start questioning the motives of folks who post to give away free weeks...it takes work to give away a week, a seller has to deal with countless questions, renigged offers, etc from TUGgers with a listing like this. Michael's time dealing with multiple queries is worth 300 bucks I would think. Heck I listed a week once and a TUGger made me do multiple trade tests to prove to him the trade power, and then he went silent and I thought that was that. But then I got an email from him saying "Did I do good?" and he had bought the week I was selling for a few bucks less...shoving it into my face. This former moderator of the Sightings board shall remain nameless, but imho he is not a cool guy for pretending to be a potential serious buyer and then abusing a fellow TUGger's time and energy like that. I suppose some will say "all's fair in love and war" but I myself have a different code of ethics. Sorry to go off topic but it rubbed me the wrong way to see somebody post questioning Michael (who is very generous with his time and knowledge) about his motives in money matters. :annoyed:

 

[Ridewithme38]

Why do we only get $300 but the timeshare company gets $600?

it takes work to give away a week, a seller has to deal with countless questions, renigged offers, etc from TUGgers with a listing like this. Michael's time dealing with multiple queries is worth 300 bucks I would think.

Thank you, that answers the question....

Sorry to go off topic but it rubbed me the wrong way to see somebody post questioning Michael (who is very generous with his time and knowledge) about his motives in money matters.

I was never questioning his motives, I understand your response because of what happened to you Carol, but, in this case, i think you kinda made a mountain out of a molehill.

 

[csxjohn]

Why do we only get $300 but the timeshare company gets $600?

Everything is negotiable Ride. If you really want the unit but need a little more than $300 to push you over the edge, send a note to Michael.

Sometimes it's worth a few hundred more to have a no hassle transaction.

If I didn't own my unit in Poincianna I'd be all over this one.

 

[hewpumpkin]

Newbie

so this is a floating week and it's good in the winter instead of the summer? It's a three bedroom lockoff so i can keep one bedroom and deposit the other two? Also, is this resort nice? I mean they have the villas and just this resort? Which is this? Sorry I am new at this, thank you!

 

[jeffwill]

How would the deal go down ?

EXAMPLE only:

1) Yes I will take it.

2) I arrange--and pay for-- title change with LT transfers (I agree on them).

3) You receive confirmation of title transfer and send buyer a check for $300.

If buyer doesn't pay 2014 MF's---- it's not your problem.

That about right ?

 

[MichaelColey]

Why do we only get $300 but the timeshare company gets $600?

Perfectly valid question.

Because with Summer Bay, there's no risk and very little time involved. With a third party, there's a risk that things will go wrong and it'll almost definitely take more time on my part.

But for you, Ride, I'll give you a special price of only -$150.

(Just kidding!)

 

[MichaelColey]

so this is a floating week and it's good in the winter instead of the summer? It's a three bedroom lockoff so i can keep one bedroom and deposit the other two? Also, is this resort nice? I mean they have the villas and just this resort? Which is this? Sorry I am new at this, thank you!

The floating week includes weeks 1-6, weeks 18-23, or weeks 35-50. While it doesn't include Spring Break or the prime summer weeks, it does include some good weeks.

It's a decent resort. The TUG Rank is #57 out of 104 in Orlando, so it's not a top resort. It's a bit further from Disney than most (and that's my main gripe). It's also quite large. The units are large.

Summer Bay has the regular units (RCI ID 3175), the villas (5995) and the houses (6884). This is the one of regular units. I'm not sure the difference between the regular units and the villas, but the regular units have quite a bit higher rating here on TUG (7.33 vs. 6).

 

[MichaelColey]

How would the deal go down ?

EXAMPLE only:

1) Yes I will take it.

2) I arrange--and pay for-- title change with LT transfers (I agree on them).

3) You receive confirmation of title transfer and send buyer a check for $300.

If buyer doesn't pay 2014 MF's---- it's not your problem.

That about right ?

It would start with #1, and then I'm open to suggestions. If we use a closing company, they would probably set how the payments work.

 

[jeffwill]

My post was a suggestion-- for you-- to protect Michael.

 

[durrod]

Michael- for those who may interested in this I want to inform that this resort is well accepted in SFX and qualifies for the best of their promos. I used to exchange the one bedroom at SB for the HGVC resorts in Orlando ( I actually stayed for first time at Hilton Parc soleil in an exchange for a summer bay unit. So this can be a great trader for other high end resorts in Orlando.

 

[celperf]

I'm getting ready to deed back my Summer Bay 3BR Lockoff with a floating week 1-6/18-23/35-50. The deedback will cost me about $600 (all inclusive), so I figured I would see if any TUGger would be interested in it first.

This floating week excludes Spring Break, Summer and Christmas, but DOES include Thanksgiving, which I believe is the highest TPU option (34 + 30 = 64 for Wk47/2014 if split and deposited separately) besides Christmas / New Years and a few summer weeks. I've had no problem getting that week in the past by prepaying Maintenance Fees and booking it a year in advance. Maintenance Fees are about $850/year.

I would be willing to pay someone $300 to take this timeshare. You would be responsible for all closing costs and 2014 maintenance fees, and your usage would start with 2014.

I'm supposed to receive the deedback paperwork in a couple weeks, so this offer is only available until then. If I don't have a firm offer by the time I receive the paperwork, I'll proceed with the deedback.

how many people on the 3 br? if i take i have not to pay anithing? and after the unit be on my name you will give $ 300 usd?

also please let me know if you have deposit it with RCI and really what tpus give to you i read that you can not choose witch week to deposit on RCI