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Did I make a mistake? [Merged threads]

krmlaw

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I just purchased a 2 bedroom condo at Royal Floridian, Silver Crown, in Ormond Beach (floating week, pretty much any week during the year). Only cost me $1. Its an odd year. MF $248 annually, or $496 every year we get the condo. I thought that was pretty reasonable.

This is my third ebay resale purchase. I guess I just need some reassurance that I got a good deal! And this is a nice property!

Thanks ....
 

UWSurfer

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A friendly suggestion, invest $15 and join Tug. By doing so you'll have access to all the reviews Tug members have posted on the resort you are asking about and can look them over before you place a bid.

I know nothing about the resort, but find the review section invaluable when both looking into a purchase or exchange to someplace I don't know. Without giving away the store, the resort gets an ok rating...not great, but not bad either. Basically confirms why it's a silver crown and not gold. More detail in the review section.

It's the best $15 I ever spent!!!
 

krmlaw

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Just signed up! Hopefully Ill get my password soon! Hope I didnt make a mistake. We own another silver crown, as well as a gold crown, and the other silver crown trades well, so Im sure this one will too. Plus, I think we will use this one sometimes. We have never used the other silver (alhambra at poinciana.
 

middleoforchid

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For myself,I love the idea of timesharing in a more spacious accommodation for a weeklong stay and since I already own a few annual weeks,now I much prefer to own eoy ones for places that I may not want to visit every year! For you,similar situation,unless you plan to do renting for profit or exchanging up.The resort is a silver crown w/ lovely furnishings,bought w/a reasonable price, and you'll have many years of enjoyment from it.........of course you did well! I'm happy for you................just be careful not to have more weeks than your vacation when it becomes a burden than a joy.
 

krmlaw

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Thanks! I feel better now. :) Im excited. I think we will use this one, and might not trade it. I guess we'll just have to see. But it looks nice! And right on the beach. Ill save on those RCI trading fees this way!

Im so glad I found out about ebay timeshare buying. We couldnt have afforded timeshares otherwise. And glad I found TUG. I just happened to find you all while searching for reviews on timeshares.
 

nightnurse613

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It sounds like you've already learned a lot about timesharing. I don't know anything about the resort either but it seems the price couldn't have been much better and you bought for all the right reasons. I think TUG membership will be a great investment. Not only due to the TS knowledge that's available but the TUG Lounge has comments on a whole range of subjects that I find useful (informative and, just plain funny,too). Welcome!:cheer:
 

theo

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"Pretty much"?

I just purchased a 2 bedroom condo at Royal Floridian, Silver Crown, in Ormond Beach (floating week, pretty much any week during the year).
I suggest that you confirm the details of "pretty much", since there are often "blackout periods" associated with floating week ownerships at many resorts in in coastal FL. I don't know a thing about your resort, but I know of numerous coastal FL facilities where weeks 5-15 (or even more) are completely excluded from float week owner reservation. For a snowbird seeking to flee the ice and snow, those are rather prohibitive restrictions.
 

london

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Royal Floridian

I think you got a good deal, provided it is a place that you would want to visit every other year.

Maintenance fees are very reasonable, do they include taxes?

Your total costs are only 500.00 with closing?
 

krmlaw

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$375 with closing. I didnt think that was too bad.

Are weeks in Florida on the beach tradeable? If we dont want to go here in odd years, will we be able to trade it at all?
 

krmlaw

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They had the weeks listed out, and they seemed pretty reasonable for me. yeah, a few were blocked out, but donw that we would want to travel. I just worry it wont be tradeable at all.
 

london

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Royal Floridian Trading

They had the weeks listed out, and they seemed pretty reasonable for me. yeah, a few were blocked out, but donw that we would want to travel. I just worry it wont be tradeable at all.
When I go into RCI to do test trades, The Royal Floridian is available frequently most times of the year.

Apparently many people deposit their weeks.
 

Mel7706

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Reserving a floating week.

If you are using the week you reserve get the week YOU want. If you are going to deposit the week with RCI or one of the smaller trading companies ASK them what weeks have the highest demand and reserve that time period for the deposit.
 

krmlaw

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Im new at this "floating" weeks stuff.

So, if I want to use it, I just ask for what week I want.

But, if I want to trade it, I tell them to deposit a certain week?
 

esk444

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This resort is supposed to be closed for a good portion of 2009 for extensive renovations. I would contact Spinnaker for details.
 

krmlaw

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NO WAY! That wasnt disclosed in the bidding process! I guess I have to call the resort. I might not be completing this purchase ...
 

krmlaw

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Looks like the resort will be closed for 10 months in 2009. In addition, a special assessment is being levied. Neither of these was disclosed during the bidding process, so I just contacted the seller to rescind by bid.

Luckily, Im an attorney and am not to worry about the seller fighting me on this.
 

AwayWeGo

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[triennial - points]
That's About The Size Of It.

Im new at this "floating" weeks stuff.

So, if I want to use it, I just ask for what week I want.

But, if I want to trade it, I tell them to deposit a certain week?
At the 2 floating-week timeshares where we own units -- the only 2 such timeshares I have actual familiarity with -- I can get any week I want that's still available. (That is, it's 1st come 1st served.)

Naturally, the alert & super-savvy owners lock up all the choicest weeks right at the opening gun, leaving the dogs & cats & various so-so weeks to us sluggards.

Plus, if we wait till too late in the year to put in our reservation request, it's possible to get shut out entirely -- to get zip, zero, zilch, zorch, nil, null, nada, nothing, even though we are all paid up with our maintenance fees & everything.

And if we wait till it's kinda-sort late (semi-late rather than absolutely too late), then we risk having to settle for some off-off-season week we hadn't planned on using for vacation.

Lately we've been renting out our floating-week timeshares. That sets up the dilemma of deciding whether (a) to reserve the most in-demand week available & try renting out that specific time on the 1 hand or (b) on the other hand advertising it on an any-week-you-want basis & hoping the requested week is still up for grabs when -- if -- a prospective renter asks for it.

The only year we deposited a floating-week timeshare with RCI, we nailed down a specific week by getting a firm reservation, then we deposited that particular week.

So far, so good.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​



 

roadtriper

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Looks like the resort will be closed for 10 months in 2009. In addition, a special assessment is being levied. Neither of these was disclosed during the bidding process, so I just contacted the seller to rescind by bid.

Luckily, Im an attorney and am not to worry about the seller fighting me on this.
Attorney or not, Ebay real estate auctions are non binding

BUT... before you totaly bail on this deal. did you do some due diligance?
listing errors can put you in the drivers seat for negotiating!
A. what was the $ amount for the SA ?
B. what are the extent of the renovations? if they are closing down for almost a year it must be major. shooting to get their Gold Crown maybe??
C. what if anything are they doing for their owners while the resort is closed?

this could still be a sweet deal , maybe you have a motivated seller who will
participate in the deal? all things to consider! it looks like it's in a primo location. Just my .02 RT
 
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