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I Need Help From The Experts, Please

gnipgnop

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Even though I have owned my property for almost 3 years now and never looked into Staroptions, I'm now very curious. On our last visit to Sheraton Broadway Plantation where we own we went on a Timeshare presentation. We own a two bed room deeded floating (Platinum time) week. The sales rep gave us a lot of information about buying our unit back and selling us one of the new lockout units in the newest section which would allow us into the Staroption Points network. Even took us over to see it ~ it was beautiful. But would never buy from developer.........right?? So now I learn from the Tuggers that if I bought a Mandatory Resort I could do "retro" (I hope my verbiage is correct) and get into the Staroptions points. If I'm wrong here at any time please correct me.

Now I was searching for a Mandatory Resort and found one that I am considering making an offer. BUT....the mandatory resort for sale is only EOY. My questions are:
1. Can an EOY week be combined with a floating annual week?
2. I believe the Rep. quoted our week as having 110,000 points. The resale property has 67,100 pts. If we purchased would we only get the combination of the 110k and 67k points EOY?
3. What is your opinion and is this the way to go??

Thanks in advance for any help.:confused:
 

tlpnet

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Even though I have owned my property for almost 3 years now and never looked into Staroptions, I'm now very curious.
You don't say how you acquired the property. I'm going to assume you bought it resale. If in fact you purchased it from the developer, but didn't join SVN at the time, Starwood is currently having a promotion that you can join SVN for free.
On our last visit to Sheraton Broadway Plantation where we own we went on a Timeshare presentation. We own a two bed room deeded floating (Platinum time) week. The sales rep gave us a lot of information about buying our unit back and selling us one of the new lockout units in the newest section which would allow us into the Staroption Points network. Even took us over to see it ~ it was beautiful. But would never buy from developer.........right??
It depends on what your goals are. If you're not interested in owning multiple weeks, but you want to participate in SVN and trade into other Starwood resorts, this is the way to do it. Starwood will give you credit of the original developer price paid toward the purchase of a new unit. You would then also have a higher StarOptions value than what you have now. The rule is that you have to spend $10,000 new money. If this is an acceptable price, then this is a reason to buy from the developer.
So now I learn from the Tuggers that if I bought a Mandatory Resort I could do "retro" (I hope my verbiage is correct) and get into the Staroptions points. If I'm wrong here at any time please correct me.
Not exactly correct - When you buy resale at a mandatory resort, the StarOptions transfer to you, so you can then trade within SVN. If you want to own multiple weeks, this is an option for you. To "retro" a unit actually means to purchase a new week from the developer, and as a condition of the sale, they bring your existing week (resale purchase at a voluntary resort) into SVN. You would then have two weeks that participate in SVN.

Now I was searching for a Mandatory Resort and found one that I am considering making an offer. BUT....the mandatory resort for sale is only EOY. My questions are:
1. Can an EOY week be combined with a floating annual week?
2. I believe the Rep. quoted our week as having 110,000 points. The resale property has 67,100 pts. If we purchased would we only get the combination of the 110k and 67k points EOY?
3. What is your opinion and is this the way to go??
Thanks in advance for any help.
In order to do this, you would have to buy a EOY developer week and "retro" your existing week, and then you would have the EOY StarOptions for the new week, and every other year, you could combine them with your Annual week. If you own 2BR (non-lockout) at SBP, however, the maximum StarOptions value you could have is 81,000 if you own in the newer section during the platinum season. There are no units worth 110,000. Consult the StarOptions chart in the Owner Sticky above to determine the actual SO value you would have if your unit was in SVN.

I hope this makes it slightly more clear.
-tim
 

Bill4728

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So now I learn from the Tuggers that if I bought a Mandatory Resort I could do "retro" (I hope my verbiage is correct) and get into the Staroptions points. If I'm wrong here at any time please correct me.


Thanks in advance for any help.:confused:
To Retro a non developer purchased unit, it doesn't matter if the unit is at a mandatory resort or Voluntary resort. You must simply own a unit you bought reasle, then buy a unit direct from Starwood with a clause in the contract that starwood will bring the resell unit into SVN.

Many people retro voluntary units because they cost so little to buy. But many people retro mandatory units because if you need to sell, they are worth so much more.
 

Ken555

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But many people retro mandatory units because if you need to sell, they are worth so much more.
One of us is confused. Mandatory units don't need to be brought into SVN in order to have StarOptions. The only reason to retro them is to have elite status and the ability to combine their associated StarOptions with your other units (SVN may be a bit more lax than expected in this area of late, so I'm not clear if you need to retro for this or not). These advantages only apply while you own the unit. If you sell it, it becomes just another mandatory unit - with StarOptions - but has no advantage over other mandatory units at the same resort. So, I'm not sure why you think they "are worth so much more" when you sell.
 

tlpnet

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Could you explain what this means and where I can find more information? Thank you!
If you purchased at certain resorts from the developer prior to those resorts being in SVN, such as SBP, SVR (certain sections), etc., and those resorts are now participating in SVN, you should have been given an opportunity to join SVN when the resorts joined. If you didn't join at that time, you are now being given a second chance to join at no charge - the link and more information is available on MSC. Resale purchasers are not allowed to participate (except for certain sections at SVR).

-tim
 
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