Joint Purchase Arrangements - Anyone Interested?? Issues to Consider??

[TravelAmore]

Hello Everyone - I am not sure if this has been floated about before. I am interested in purchasing a resale EOYO at WKV Plat. 1 bed premium or 2 beds. Can't find one for a reasonable price to save my life. And, finding one EOYO is even harder. So I wondered if anyone has tried purchasing joint ownership with a contract specifying ownership rights, usage, what is to happen upon death, etc. OK - tell me the pitfalls - I'd rather know what I have not thought of

 

[vacationtime1]

Death, divorce, disability, financial reversal by either owner, failure to pay fees (for whatever reason), desire to sell by one owner but not the other, etc.

Writing that contract is not free, either. Nor is enforcing it.

I own multiple Kierland weeks. Buy either platinum plus and rent it -- for a substantial profit -- during the years you don't want to use it.

 

[CaliSunshine]

Seems like a lot of work to buy something that's going to depreciate over time.

 

[RX8]

Would this be a joint contract with family, a friend or a stranger? These always seem to end up badly. All you need to do is watch Judge Judy.

 

[TravelAmore]

OK Thanks everyone! I suspect you've all imparted wise counsel.

 

[mjm1]

Seems like a lot of work to buy something that's going to depreciate over time.

If bought on the resale market the largest part of not all of the depreciation was absorbed by the previous owner if they bought it from the developer. We bought resale about seven years ago and the value is about the same as what we paid if not more. I am sure other owners at WKV who bought resale have a similar experience.

Best regards.

Mike

 

[Yellowfin]

Buy SVV Bella 2 BR platinum 81,000 SO, a much lower initial cost

 

[vacationtime1]

Buy SVV Bella 2 BR platinum 81,000 SO, a much lower initial cost

If you want Kierland during prime season, buy Kierland. Prime season weeks will not be available at the eight month mark.