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Help! I think we made a big mistake - Westin Princeville

Run Fat

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Hello and thank you for this great site!

My wife and I just bought a 2 BR annual timeshare at the Westin Princeville a few days ago and while we're excited about the property (and the opportunity to use the other villas), I can't help but think we made a big mistake.

The asking price for the Westin Princeville was $60k + HOA fees of about $2500 for the 2 BR lockoff. They threw in a 170k SPG points as a signing bonus. (Looking at some of the ads it seems like we can do WAY better in the resale market ($11k for the same property in one ad!))

I poured over the information on this site, especially the Starwood FAQ, and it seems the best option would be to rescind the purchase and get something in the resale market, probably from a "mandatory" property (like Westin Kaanapali).

We have to rescind by 4/16 so any help would be greatly appreciated!

BTW, our intention for the Princeville property would be to use it once every two or three years and use StarOptions to utilize other properties (for instance, bring our kids to Orland for a week). We don't ever plan on converting to SPG points since that is a bad tradeoff.

Here are my questions...

>Should we rescind?
>Does it make more sense to buy resale at Westin Kaanapali or Princeville?

Thank you so much for your help!

John

P.S. during the pitch we asked why not buy resale and they basically said our opportunity for using StarOptions would be very limited - I take it this was bullshit, right?
 

Ken555

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You are absolutely correct that you should rescind. Don't hesitate, do it immediately. Then come back here and figure out what to buy. Until you know exactly how you intend to use your ownership buying from the developer is simply a waste of money. And, you will always be able to buy again from them in future if you decide that's the best route (it's not, since you'll likely find that buying resale is everything you need at a fraction of the price).


Sent from my iPad
 

DavidnRobin

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Congrats on finding this forum in time.
Rescind, Research, Resale

caveat - we own and enjoy Westin Princeville (WPORV)
 

Karen G

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Congrats on finding this forum in time.
Rescind, Research, Resale
Adding my vote for you to rescind. If you have any question at all as to what you've done, rescind now while you still have the opportunity. Once your rescission period passes, you won't be able to do so. The deal will still be there if, after you've done your research, you still want to go through with it. But, if you let this rescission opportunity pass, you won't have it again.
 

vacationtime1

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Rescind!

We bought Princeville from the developer several years ago, found this forum, rescinded, bought Kierland (resale), and haven't regretted it for a moment.

Spend a few months researching. You will learn that you can buy Kierland resale for about 30% of the cost of buying Princeville from the developer, that Kierland's maintenance fees are about half as much as Princeville, and that Princeville is actually an easy trade using StarOptions (yes, the saleperson was b*llshitting you when he said Princeville is a difficult trade; it is the easiest Starwood or Marriott in Hawaii to trade into).
 

LisaRex

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Glad you found TUG before you made a big mistake. 170k SPs are hardly worth $40,000, which is how much you'd be overpaying.
 

csxjohn

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Congrats on finding this forum in time.
Rescind, Research, Resale

caveat - we own and enjoy Westin Princeville (WPORV)
I like it, the 3 Rs of Timeshare World

Rescind

Research

Resale

And do it now, not later.
 

PamMo

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You will not regret rescinding! Do it now, and then take your time to find something that fits your needs for a LOT less.

I can totally understand you and your wife falling in love with WPORV, though. It's a wonderful resort. We've been very happy trading into it with one of our other (resale) Starwood weeks.
 

Run Fat

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Thanks for the advice everyone! I am pretty sure we will be rescinding since it definitely appears that many (all?) of you have had good experience buying resale.

Another question that I had was if there is a difference when you call to book a property if you bought direct from the developer or in the resale market. Are resale buyers in any way treated differently? Does the operator even know who you bought the property from?

Sorry, one more question... the salesperson said that not all StarOptions are equal, meaning that if you pay more for you property your StarOptions put you at the top of the queue when booking a property. Is this more BS or is there any truth to this?

Thanks again for all the help! If/when I get a chance, I'd love to buy you all a cocktail :)

John
 

vacationtime1

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Thanks for the advice everyone! I am pretty sure we will be rescinding since it definitely appears that many (all?) of you have had good experience buying resale.

Another question that I had was if there is a difference when you call to book a property if you bought direct from the developer or in the resale market. Are resale buyers in any way treated differently? Does the operator even know who you bought the property from?

Sorry, one more question... the salesperson said that not all StarOptions are equal, meaning that if you pay more for you property your StarOptions put you at the top of the queue when booking a property. Is this more BS or is there any truth to this?

Thanks again for all the help! If/when I get a chance, I'd love to buy you all a cocktail :)

John

All StarOptions are created equal (at least at the eight month mark, whether reserving at your home resort or elsewhere).

Any salesperson who represented to the contrary was lying to you.
 

LisaRex

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Another question that I had was if there is a difference when you call to book a property if you bought direct from the developer or in the resale market. Are resale buyers in any way treated differently? Does the operator even know who you bought the property from?
The operator knows, but it doesn't matter. All owners are treated the same when it comes to booking your home resort and exchanging within the network. In fact, unlike Marriott, Starwood does not allow multiple week owners to book a month early. That is one of the things that drew me to Starwood over Marriott.

Run Fat said:
Sorry, one more question... the salesperson said that not all StarOptions are equal, meaning that if you pay more for you property your StarOptions put you at the top of the queue when booking a property. Is this more BS or is there any truth to this?
That is a outright lie.
 

Passepartout

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When you book a vacation, no one knows whether you bought resale, or at full freight from the developer. Well, except you. Or put another way, Only you know that you bought a lifetime's great vacations for a handfull of dollars, or with a bucket full of thou$and$.

And this isn't just at Starwood.

Buy resale..... Save Thousands.

Oh, I just read TUGBrian's (the TUG owner) latest tally. We've saved TUGgers over $4 MILLION dollars in developer overcharges by those who have told us how much they saved by rescinding and buying resale.

Run Fat, you're next. add to the total.

Jim
 

DavidnRobin

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Oh, I just read TUGBrian's (the TUG owner) latest tally. We've saved TUGgers over $4 MILLION dollars in developer overcharges by those who have told us how much they saved by rescinding and buying resale.
Not to mention all of the advice to rescind via PM that was not discussed via the SVO Forum.
 

Bill4728

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You now have a choice between buy a mandatory vs voluntary Starwood resort.

If you want princeville (Voluntary) you can buy it much cheaper than a mandatory resort but of course it will be only good for stays at princeville ( with the MF of approx $2800) with reservations available at 12 months. OR you could spend a little more and buy Phoenix ( with MF of approx $1200) and use the mandatory staroptions to go to any starwood resort with reservations available at 8 months.

Good Luck
 

MULTIZ321

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Hi Run Fat,

Welcome to Tug.

Another vote for you to rescind.

Follow the instructions in your contract on how to rescind. Send your rescision letter via United States Postal Service with return receipt requested. Make sure your letter is postmarked prior to the recision expiration period.

Follow the 3 R's.

Good luck,

Richard
 

Fredward

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One of the best pieces of advice we ever learned from attending Starwood sales presentations was to use options from a resort with lower annual maintenance fees to stay in someone else's high priced villa. StarOptions are like cash you can use to stay in their resorts. 81,000 options from our Cancun resort are equal to 81,000 options from Princeville and our annual maintenance fees are half as much- without even talking about the purchase prices. (We often agree to sales presentations for the opportunity to learn something even if its "What is your favorite hotel/resort/restaurant??") Starwood resorts trade amazingly well through II- we've snagged 2 BRs in Westin Princeville using a 1 BR Kierland (small side, hot summer months) several times.
And if you're thinking about Orlando, there are so many rooms available there that we've never had a problem getting someplace nice with a little pre-planning. There were also some great opportunities to use ACs for the Orlando resorts last fall. Good luck!
 

siesta

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I like it, the 3 Rs of Timeshare World

Rescind

Research

Resale

And do it now, not later.
It should be the 4 R's. Rescind, Research, Resale, Rejoice!

To the OP, you should rescind immediately. Then ask all the questions you are now doing. Guess what, if you later decide you were happy and prefer the retail purchase that "deal" will still be waiting for you. Stop wasting precious time!
 

lizap

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Completely agree. WKV would be the way I'd go..

Rescind!

We bought Princeville from the developer several years ago, found this forum, rescinded, bought Kierland (resale), and haven't regretted it for a moment.

Spend a few months researching. You will learn that you can buy Kierland resale for about 30% of the cost of buying Princeville from the developer, that Kierland's maintenance fees are about half as much as Princeville, and that Princeville is actually an easy trade using StarOptions (yes, the saleperson was b*llshitting you when he said Princeville is a difficult trade; it is the easiest Starwood or Marriott in Hawaii to trade into).
 

Run Fat

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OK, the cancellation letter is signed and ready to go! Turns out when everyone is unanimous in their view, making a decision is easy!

Our thanks to all of you for your input!!

The post office is likely to be swamped tomorrow. Is there any reason why I can't FedEx the form? I can't imagine that it matters, but I only have one shot to get this right and I don't want to blow it!

Thanks again,

John
 

vacationtime1

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OK, the cancellation letter is signed and ready to go! Turns out when everyone is unanimous in their view, making a decision is easy!

Our thanks to all of you for your input!!

The post office is likely to be swamped tomorrow. Is there any reason why I can't FedEx the form? I can't imagine that it matters, but I only have one shot to get this right and I don't want to blow it!

Thanks again,

John

You must rescind according to the instructions or your rescission is not valid. If the instructions are U.S.Mail, then that is the (only) way to go. No harm in getting a return receipt from the postal service, although it is not necessary except for peace of mind.

If FedEx is not one of the enumerated methods of delivering your rescission, a rescission via FedEx -- even one creating a return receipt -- is not valid.

This is something on which you should not take any chances.
 

siesta

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You must rescind according to the instructions or your rescission is not valid. If the instructions are U.S.Mail, then that is the (only) way to go. No harm in getting a return receipt from the postal service, although it is not necessary except for peace of mind.

If FedEx is not one of the enumerated methods of delivering your rescission, a rescission via FedEx -- even one creating a return receipt -- is not valid.

This is something on which you should not take any chances.
^exactly. The inconvenience of the post office tomorrow is well worth the 10s of thousands you are about to save. Dont take any chances, follow rescission instructions.
 

mjm1

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Arriving to the party late, but another vote for Kierland Villas. it was suggested to us and we have truly enjoyed our ownership. Bought an EOY to test the waters and then an EY unit. Already been to Kaanapali and are headed to Westin St John for the first time this coming weekend.

As others have suggested, do more research and then look for a resale. Good luck.
 

Run Fat

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The instructions say "to cancel this transaction, mail or deliver a signed copy of this cancellation notice or any other written notice, or send a telegram..."

No sense taking my chances though so I'll brave the crowds first thing tomorrow morning and get this sent via certified mail.

John
 

siesta

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The instructions say "to cancel this transaction, mail or deliver a signed copy of this cancellation notice or any other written notice, or send a telegram..."

No sense taking my chances though so I'll brave the crowds first thing tomorrow morning and get this sent via certified mail.

John
That language sounds to me fedex would be ok, but play it safe. Make sure you get return receipt requested.
 

PamMo

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OK, the cancellation letter is signed and ready to go! Turns out when everyone is unanimous in their view, making a decision is easy!
Excellent!!! :clap: You won't regret it.

I don't know if Tuggers get more excited about their own great purchase/exchange deals or when they save a newbie some serious money! I hope you hang around TUG for awhile - and let us know if/what you decide to buy.

Welcome to TUG!
 
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