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Harborside on eBay

R

rickdl

TUG Member
Joined
Jul 25, 2005
Messages
24
Reaction score
1
Location
Toronto
I've been really thinking of bidding on this but have decided not to... but wanted to point it out to others

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&ssPageName=STRK:MEWAX:IT&item=280287608338

Looks like a 2 bedroom lockout, 81000 staroptions..true it's only silver but still.. the auction's almost over and I think it's going to go for a steal. The seller's even 'eating' most of the closing fees.

Only thing I don't like about owning harborside directly is the maintenance fees.. They are so high. Better to own a different SVN and just trade-into harborside with staroptions.
 
Take a close look as well. You are being billed for THIS year's maint. fees despite usage not starting until NEXT year. That's about $2200 for nothing...kinda detracts from the "deal." In this economy I wouldn't want to saddle myself with the highest maint. fees in all of SVN for a silver week.
 
The fine print says that the 2008 MF's have not been paid and will be the responsibility of the buyer. So, add another $2200 or so to the bid price in addition to 2009 maintenance fees and closing costs.
 
There is only one reason to purchase silver season at this resort. That is because you plan to be there during the limited weeks that are available in this season. The maintenance fees are too high in my opinion to own a silver season week anyway.

Can't be too hard to trade in through II to silver season.
 
I dropped a bid on this auction. But, I didn't win.

With the hazy ad, the high annual maintenance fees and the unpaid 2008 maintenance fees, it was only worth less than it went for, IMO.

I don't think this is sour grapes (I already own a Platinum 3br at HRA). I wasn't even sure both sides of a 2br lockoff were for sale. The ad said Unit 1716 was for sale. The lockoff is 1716 and 1717 in the Phase I map in the TUG stickies. Plus, after listing the annual MF for the 2br lockoff, the ad had a footnote indicating the MF on a 1br. That 1br would only get you 44K staroptions. (And, what about the special assessment for Phase I? Was it paid?)

Still, if the person running the ad didn't know much about HRA (he didn't seem to know about having to use a Bahamian attorney for getting the deed recorded and the costs that entailed), it could have been a Phase I 2br unit for the fixed week of Veteran's Day with a sunset view across the marina's channel. Too many possible questions, though.

I asked the questions, the person running the ad never responded, so I felt it was only worth a really nominal bid. If I missed out on something good, so be it. ... eom :confused:
 
I had PMed (messaged) the seller two times over the past week and he had replied both times.

He replied to confirm that yes, the 2008 maint fees were never paid so yes you'd have to pay 2008 maint fees on closing of the ebay purchase, and then 2009 maint fees later on before using the unit.

He also confirmed that it is a 2BR lockout unit, with $2300 or so being the yearly maint fees (cant remember the exact amount but it was in the PM) (so it's 81000 star options)

He also confirmed that yes, he was going to "eat" part of the legal closing costs himself. To me that partially offset the fact that I'd be paying 2008 maint costs still.

I know what everyone is saying about it being a silver week. But still this is the cheapest I've ever seen a Harborside silver 2br sell for on ebay ever. I have no problem with enjoying Atlantis in October/November, that's why I was thinking of bidding on it. But didn't.. partially because I don't have spare cash right now, and don't want to dip into savings/credit to complete a purchase with the economy the way it is right now.
 
Closing costs will be $1900-$2500 depending on what company you use. The closing company I used was inexpensive and very fast, closed in less then a month. So if you do find a resale, pm me and I'll forward you there contact information.
 
I did get a response from the seller. They had claimed they were simply selling it for a friend and knew little else beyond the posting information. It sounded like there may even have been some lein activity behind the scenes....bees nest I think.
 
Just curious that the poster above mentioned an assessment for renovations for phase 1--it was my understanding that there was no assessment for the renovations and that they were being covered by the reserves--anyone have any other info on this?
 
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