Harborside Closing Done!

[tomandrobin]

We just completed our closing for out Harborside Resort unit. We bought the unit resale, found the listing on a "For Sale by Owner" timeshare site. We initiated contact with the seller on June 26th. After negotiating for a few days, we came to terms and contacted a timeshare closing company in the Bahamas. We signed our contracts and had them returned on July 7th. By July 23rd the title for the unit had been transferred and the seller was paid for the unit. The new title was then off to the lawyers and then off to get their tax stamps. On Aug 1st the new deed was emailed to Starwood and today we were in the system. We made our reservatin this afternoon for next summer!!!

When we purchased the unit, we were expecting at least a 6 month process. But to our surprise, we were done in one month. I highly recommend the Closing Service we used in the Bahamas. Beverly was first class all the way. Great communication, responsive, organized and best of all got the job done quickly.

Beverly A. Sawyer
Timeshare Services Bahamas
East Bay Street, Marsh Harbour,
Great Abaco, The Bahamas
Tel: 242-424-7974
beverly.sawyer@hotmail.com


We bought a three bedroom L/O unit in phase 2, float week in gold season.

 

[pointsjunkie]

congratulations, i hope you have many wonderful vacations there. the three bedroom is what we have gotten for the last 2 years. it is so spacious. we always go memorial day week , maybe one year we will meet up.

 

[Transit]

Congrats,On your new unit and a great turn around time.

 

[Denise L]

Congratulations ! That is faster than any U.S. closing I have heard about, way to go! Did you have to get SVO to handle the transfer by sending them the deed, or did it all happen via the closing company who sent SVO the deed and transfer information?

A 3 bedroom sounds wonderful !

 

[tomandrobin]

Congratulations ! That is faster than any U.S. closing I have heard about, way to go! Did you have to get SVO to handle the transfer by sending them the deed, or did it all happen via the closing company who sent SVO the deed and transfer information?

A 3 bedroom sounds wonderful !

Beverly took care of everything. She emailed a copy of the paper work directly to the title change department.

 

[SDKath]

Wow! Congratulations. It's great to see it all happen so quickly and it's just in time for you to reserve next summer. :whoopie:

I am sure you will enjoy it! Katherine

 

[tomandrobin]

Wow! Congratulations. It's great to see it all happen so quickly and it's just in time for you to reserve next summer. :whoopie:

I am sure you will enjoy it! Katherine

We have St John in June and Harborside in August!

OT - Did you hear the announcement regarding the GCV being limited to 60 days for owners who bought in California. But sale date has not been set, just late 2008 and owners will be limited to the number of points to purchase.

 

[lars158]

Congratulations - that was really quick! I am told I should expect at least 60 days... On another note, I am also being told that closing cost in Bahamas is very expensive and that I should expect it to cost me (the buyer) up to 2,200 dollars... is this correct or should I be alarmed? thanks!

 

[SDKath]

Did you hear the announcement regarding the GCV being limited to 60 days for owners who bought in California. But sale date has not been set, just late 2008 and owners will be limited to the number of points to purchase.

I heard this when we bought at AKV in January. We were given a separate contract stating we could buy up to 160 points during the "founders" time period. I think my guide told me 60 days but I had also read 90 so I was not sure. All I can say is they BETTER tell us when it goes on sale!

We are ready to pull the trigger on GCV, that's for sure. My Starwood Am Ex is burning a hole in my pocket. I even got my limit raised so I can get my points!

 

[lars158]

I heard this when we bought at AKV in January. We were given a separate contract stating we could buy up to 160 points during the "founders" time period. I think my guide told me 60 days but I had also read 90 so I was not sure. All I can say is they BETTER tell us when it goes on sale!

We are ready to pull the trigger on GCV, that's for sure. My Starwood Am Ex is burning a hole in my pocket. I even got my limit raised so I can get my points!

What's GCV (probably a stupid question)?

 

[SDKath]

Grand CA Villas -- Disney's first timeshare in CA at the beautiful Grand Californian Hotel.

K

 

[lars158]

Grand CA Villas -- Disney's first timeshare in CA at the beautiful Grand Californian Hotel.

K

Ok, thanks... thought it was a new Starwood development happening...

 

[DeniseM]

Congrats Tom And Robin!

I am so jealous!....but I think I just about have my DH talked into exchanging for Harborside after we go to his next class reunion on the East Coast! :whoopie:

 

[DavidnRobin]

Congrats - we hope to get over to HRA someday.

 

[tomandrobin]

Congratulations - that was really quick! I am told I should expect at least 60 days... On another note, I am also being told that closing cost in Bahamas is very expensive and that I should expect it to cost me (the buyer) up to 2,200 dollars... is this correct or should I be alarmed? thanks!

Our closing costs was under $2000. The biggest "X" factor in closing cost is the tax added based on the value of your unit. So a two bedroom in gold season would be cheaper to close.

 

[Stingrae]

Tom & Robin,
Congratulations on your Harborside purchase! That went through very quickly. We also own in the gold season at Harborside, and just love it.

 

[LisaRex]

Great news, Tom!!! I hope you snatched up a bargain. Is it a 3 bdrm/3 bath or 3 bdrm/2 bath like they're proposing at WKORV-NN?

 

[tomandrobin]

Great news, Tom!!! I hope you snatched up a bargain. Is it a 3 bdrm/3 bath or 3 bdrm/2 bath like they're proposing at WKORV-NN?

The unit is a 3 bedroom/3 bath L/O. Having that third bathroom and bedroom was really important. There was a two bedroom L/O unit we were looking at purchasing, but it will be nice not having someone sleep in the living room next year.

 

[LisaRex]

The unit is a 3 bedroom/3 bath L/O. Having that third bathroom and bedroom was really important. There was a two bedroom L/O unit we were looking at purchasing, but it will be nice not having someone sleep in the living room next year.

Absolutely agree. It's also nice that it's a lock-out. Hawaii is proposing 3 bdrm/2 bath non-lockouts for WKORV-NN. That's a double downer, IMO.

 

[tomandrobin]

Its cheaper to build a three bedroom non-lockoff, then a three bedroom lockoff unit. You only need one kitchen and usually onyl two bathrooms in a non-lockoff unit. Plus, demand for large three bedrooms are greater then two bedrooms.

I bet phase 3 will have non-lockoff units at Harborside.

 

[clsmit]

Grand CA Villas -- Disney's first timeshare in CA at the beautiful Grand Californian Hotel.

K

OK you Disney owners -- take it over to the Disney board!! We know where your true loyalty is!

(BTW, I love Disney. I went to Disneyland when I was 4. I went to the Magic Kingdom right after it opened. I got married at the Wedding Pavillion. Someday I'll exchange into DVC to stay on property when I'm in Orlando!)

 

[lars158]

A couple of resale questions for Harborside (resale)

I am about to buy a resale at Harborside and have been told by the agent the following:

1) II membership is optional... Is this correct? I thought that SVN/II membership was mandatory for Harborside, being a mandatory resort (or is it only SVN membership that is mandatory)?
2) Starwood "first right to buy" policy is not used for Harborside (i.e. as part of the resale process there is no step where Starwood will be notified before the closing with the option to exercise the "first right to buy"). In the case of Ka'alapani I know this step is required, so is this a policy only used for certian resorts?

Thanks!

 

[tomandrobin]

I am about to buy a resale at Harborside and have been told by the agent the following:

1) II membership is optional... Is this correct? I thought that SVN/II membership was mandatory for Harborside, being a mandatory resort (or is it only SVN membership that is mandatory)?
2) Starwood "first right to buy" policy is not used for Harborside (i.e. as part of the resale process there is no step where Starwood will be notified before the closing with the option to exercise the "first right to buy"). In the case of Ka'alapani I know this step is required, so is this a policy only used for certain resorts?

Thanks!

II membership is part of your dues/maintenance fees, it is required.

Harborside does not do a ROFR. Starwood didn't on my HRA resale. Neither did St John and Kierland.

 

[DeniseM]

Regarding ROFR - it is extremely rare for Starwood to exercise ROFR - there has only been one incident posted on TUG in which Starwood claimed the property.

 

[lars158]

II membership is part of your dues/maintenance fees, it is required.

Harborside does not do a ROFR. I didn't on my resale. Neither does St John and Kierland.

As far as II , I will need to look into this as it states in the purshase agreement that II is excluded... The agent said I can join II but that will require me to apply separately and pay the applicable fee in addition to the required dues/maintenance fees for Harborside. As far as ROFR it is great that this is not required for Harborside as it will save about two weeks in the process! Thanks - very valuable information!