Explorer Program

[darnoc]

Hello,

Newbie here and glad I found this user group. I'm scheduled to go on my second visit and the Vistana Resort in August through Starwood's explorer program. I was interested in purchasing a timeshare and after reading the forums here, purchasing directly from the developer may not be a good option. I also found out the price I paid for the explorer program was much more than just reserving the room through Expedia. Are there good options that I can use to purchase a timeshare through the Explorer program?

I'm interesting in buying and looked at the marketplace here and in EBay, but a bit confused on some of the listing. I'm seeing listings that are $500 to $700 but have deed transfers and closing costs. Are these listings for one week rentals or are they sales. The combination of the low price but deed transfers is throwing me off. I also saw this listing in EBay http://www.ebay.com/itm/SHERATON-VI...=WDVW&rd=1&ih=019&category=15897&cmd=ViewItem which is bascially the package that was being sold to me in the Explorer package. Can anyone provide their opinion in this listing? Are owners basically selling their timeshare for such a low price because of the yearly maintenace fees?

I'm staying at the Cascades and seeing in some of th postings here that it can get crowded in that section. Any advice on a good section quiet and near amenities?

Thank you all.

 

[YYJMSP]

Newbie here and glad I found this user group. I'm scheduled to go on my second visit and the Vistana Resort in August through Starwood's explorer program. I was interested in purchasing a timeshare and after reading the forums here, purchasing directly from the developer may not be a good option. I also found out the price I paid for the explorer program was much more than just reserving the room through Expedia. Are there good options that I can use to purchase a timeshare through the Explorer program?

Welcome!

The Explorer Packages are generally a "good" value if you plan to buy directly from the developer at full price, as you can apply 100% of the price of the Explorer Package towards the purchase price. Essentially, it's like getting a bunch (50K?) bonus SPG points on a developer purchase for free.

If you have no intention of buying directly from the developer at full price, generally speaking, the Explorer Package is not a good deal -- you can usually find a comparable or better deal to stay stay at a particular property, especially those in Florida, etc.

Those packages are a last-ditch attempt for the salespeople to get you to buy SOMETHING before you go...

 

[Karen G]

Are these listings for one week rentals or are they sales. The combination of the low price but deed transfers is throwing me off.

They are for sales. Not only are people offering their timeshares for free, basically, but often they are paying the closing costs and current maintenance fees, making the deal better than free. Check out the Bargain Deals forum here on TUG for posts from people who giving away their timeshares.

As to why someone would be giving away their timeshare, most likely it is because they don't want to keep paying the ever-increasing annual maintenance fees or they don't travel anymore or any number of other reasons.

Take your time and do lots of research. Be sure you understand completely what you are buying and don't be pressured to make a quick decision.

 

[darnoc]

Welcome!

The Explorer Packages are generally a "good" value if you plan to buy directly from the developer at full price, as you can apply 100% of the price of the Explorer Package towards the purchase price. Essentially, it's like getting a bunch (50K?) bonus SPG points on a developer purchase for free.

If you have no intention of buying directly from the developer at full price, generally speaking, the Explorer Package is not a good deal -- you can usually find a comparable or better deal to stay stay at a particular property, especially those in Florida, etc.

Those packages are a last-ditch attempt for the salespeople to get you to buy SOMETHING before you go...

Hi,

Thanks for the response. So essentially there isn't a reason to buy directly from the developer. Yes, we did get free points for the program which equates I believe to just 3 nights to the existing place. So it doesn't look like I can break even with the money I spent for the package <sigh>. Great info and thanks again.

 

[darnoc]

They are for sales. Not only are people offering their timeshares for free, basically, but often they are paying the closing costs and current maintenance fees, making the deal better than free. Check out the Bargain Deals forum here on TUG for posts from people who giving away their timeshares.

As to why someone would be giving away their timeshare, most likely it is because they don't want to keep paying the ever-increasing annual maintenance fees or they don't travel anymore or any number of other reasons.

Take your time and do lots of research. Be sure you understand completely what you are buying and don't be pressured to make a quick decision.

Hi Karen,

Thanks for the response. I'm still at an awe because I can't believe the timeshare that the developer is quoting me at 25-30k can be purchased for nearly nothing here or am I missing something. From reading, the mandatory resale is a better option that the voluntary resale. Also, if I purchase a resale I don't have to go through a credit check, correct? Basically, I'm paying for my week's time by paying for the yearly MF, correct? The link I posted in EBay, do you think that's legit? Thank you for the great info and advice. I will keep researching.

 

[Karen G]

From reading, the mandatory resale is a better option that the voluntary resale. Also, if I purchase a resale I don't have to go through a credit check, correct? Basically, I'm paying for my week's time by paying for the yearly MF, correct? The link I posted in EBay, do you think that's legit? Thank you for the great info and advice. I will keep researching.

I don't know what you mean by mandatory and voluntary resale. You are correct that you would be paying an annual maintenance fee if you buy a timeshare and they usually increase every year.

If you purchase resale and pay cash then you wouldn't have to go through a credit check. But, if you are worried about your credit you might want to reconsider whether buying a timeshare is really right for you.

I don't know anything about that particular ebay listing, but there are many such listings for $1 that are legitimate because there are so many more sellers than buyers of timeshares now.

 

[Ken555]

I don't know what you mean by mandatory and voluntary resale. You are correct that you would be paying an annual maintenance fee if you buy a timeshare and they usually increase every year.

Starwood has both mandatory and voluntary resorts, StarOptions included with mandatory resale units and not with voluntary. More info in the FAQ above.

 

[Ken555]

Hi Karen,

Thanks for the response. I'm still at an awe because I can't believe the timeshare that the developer is quoting me at 25-30k can be purchased for nearly nothing here or am I missing something. From reading, the mandatory resale is a better option that the voluntary resale. Also, if I purchase a resale I don't have to go through a credit check, correct? Basically, I'm paying for my week's time by paying for the yearly MF, correct? The link I posted in EBay, do you think that's legit? Thank you for the great info and advice. I will keep researching.

You're beginning to see the light.

 

[vacationtime1]

Hi Karen,

Thanks for the response. I'm still at an awe because I can't believe the timeshare that the developer is quoting me at 25-30k can be purchased for nearly nothing here or am I missing something. From reading, the mandatory resale is a better option that the voluntary resale. Also, if I purchase a resale I don't have to go through a credit check, correct? Basically, I'm paying for my week's time by paying for the yearly MF, correct? The link I posted in EBay, do you think that's legit? Thank you for the great info and advice. I will keep researching.

You aren't missing anything. The resale market price is based on supply vs. demand, and there are many, many more sellers than buyers. No one is compelled to buy, but death, divorce, disability, and economics force many sales, giving you a huge opportunity.

By the time you go to the mandatory sales presentation in August, you will be a timeshare salesman's worst nightmare -- an informed consumer.

But as others have said, take your time. You are in no hurry (the excess supply is not going away), you have your 2012 vacation in place, and you have plenty of time before scheduling a 2013 vacation at Vistana becomes an issue (for other locations, planning at least 12 months in advance is mandatory, but that is another discussion).

 

[Ken555]

You aren't missing anything. The resale market price is based on supply vs. demand, and there are many, many more buyers than sellers.

Err... I think you mean many more sellers than buyers.

 

[siesta]

Err... I think you mean many more sellers than buyers.

usually, more sellers than buyers, generally speaking. Unless its el primo.