Just won a WKORV Platinum even year EOY 2 BR L/O with 148,100 Starpoints on ebay

[5finny]

Invoice is just under $6000 and it is ocean view
I have dealt with the seller before so I am comfortable that the sale is Legit
I do not own any timeshares in the Vistana system (nor the Marriott system) nor any in Hawaii
At that price (if I checked correctly) the sale may or may not clear ROFR
I have family who are big into the Marriott system.
With the merger any benefit to putting it in their name?
Can I use a family trust to hold title?
I assume the best use of this timeshare would be personal use and not trading but if it clears ROFR I may not be able to really secure a time I can actually use in 2020--if so what are my best options ?
Any other suggestions for a newbie to Vistana and Hawaii (but not to timeshares) ?

 

[jjking42]

use it or rent it is the best choice. Possibly direct trade with another tugger

 

[jabberwocky]

Welcome to the Vistana family. You've purchased at what are a great set of resorts.

Is it an ocean view or island view unit? I suspect it will clear ROFR at that price since it is an EOY non-OF unit.

No one knows what the integration of Vistana into the Marriott system will look like. I don't see a benefit at this time to putting it into their name as it would be two separate systems and will give them two II accounts.

Family trust should be possible - our WKORV-N that we bought last spring was previously held by a family trust.

I assume you'll have access to your week in 2-3 months if the paperwork moves on time. The prime reservations will be be largely taken up by the time you get your week.

You will have a mandatory deed which comes with SO. These are extremely flexible and relatively easy to use within the system if you can plan ahead. This means you can largely avoid the whole II trading scheme and stick with resorts in the VSN system. The only downside is that you will be competing with people who bought at other resorts and want to trade into Hawaii.

We were in a similar situation in that there were no weeks when we could use it (we purchased in current use year but already had vacation plans). What we did was bank our 2019 StarOptions (you will have until June 30 to do this) - we then booked two weeks in 2020 using SO (combined from some that we had banked in 2018 plus other Vistana TS). Once banked you will have until Dec. 31, 2022 to use them. This gives you a few options:

- Book a week at WKORV in 2021
- Use your home resort reservation in 2022 and then add on a second week using SO
- Book time at another VSN resort
- You could also bank the week into II - but you're better off in VSN IMO.

 

[5finny]

It is an Ocean view unit.
I am both happy and concerned that it is likely to clear ROFR
Does it appear I over payed?
Also if I did my homework the disadvantage to an EOY unit as compared to an annual unit is that you pay Westin an annual fee both for odd and even years even though you don't have the use of one of those years

 

[jabberwocky]

It is an Ocean view unit.
I am both happy and concerned that it is likely to clear ROFR
Does it appear I over payed?
Also if I did my homework the disadvantage to an EOY unit as compared to an annual unit is that you pay Westin an annual fee both for odd and even years even though you don't have the use of one of those years

I think you got a good deal for an OV (would definitely have overpaid if it was a IV). It will depend on how much inventory they need for Flex as to whether they take it. For this reason I think the WKORV-N OF units are in the sweet spot right now in terms of ROFR as those won't be added to Flex.

And yes - on the $155/year VSN fee that does have to be paid each year. A second unit would be $50/year and anything after that is free.

 

[canesfan]

Please post if it passes ROFR.
My cousin has been trying to purchase and hasn’t gotten anything past ROFR in the last year.


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[5finny]

I will post one way or another when I know about ROFR
Thanks for the info

 

[dioxide45]

Regardless of Pass/Fail, post it to www.ROFR.net

 

[CPNY]

Invoice is just under $6000 and it is ocean view
I have dealt with the seller before so I am comfortable that the sale is Legit
I do not own any timeshares in the Vistana system (nor the Marriott system) nor any in Hawaii
At that price (if I checked correctly) the sale may or may not clear ROFR
I have family who are big into the Marriott system.
With the merger any benefit to putting it in their name?
Can I use a family trust to hold title?
I assume the best use of this timeshare would be personal use and not trading but if it clears ROFR I may not be able to really secure a time I can actually use in 2020--if so what are my best options ?
Any other suggestions for a newbie to Vistana and Hawaii (but not to timeshares) ?

I saw that listing. I think it should pass ROFR. welcome to vistana. It’s not that bad around here and you hold a great resort. Who knows what an integration would mean but holding a mandatory resort could be a big plus. Especially with your unit!

 

[5finny]

Pass or Fail I will report the results of the ROFR

 

[Mushed]

Congrats! We purchased the same resort and view, also EOY, for that same price range last year, and it passed ROFR. I added it to the thread here with more detail that I can’t recall at the moment.

 

[Ryes]

Do u include the transfer fee costs when u put it in the rofr website or is that left out of the total

 

[5finny]

If I did it I would try and include everything I could
In this case however I had no input in how it was done
It was a bankruptcy sale and seller just did it her way and did not share

 

[5finny]

Just received word from seller that sale passed ROFR
I do not know if the fact that it was a Bankruptcy sale made a difference.
I will wait for something more formal before listing it in the ROFR thread

 

[dioxide45]

Just received word from seller that sale passed ROFR
I do not know if the fact that it was a Bankruptcy sale made a difference.
I will wait for something more formal before listing it in the ROFR thread

Marriott will often pre-waive ROFR on bankruptcy sales. Sometimes the court will invalidate ROFR in order to prevent any encumbrances from preventing a valid sale to get the transaction closed more quickly.

 

[DavidnRobin]

CONGRATS!
Great Price!


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[5finny]

I am happy it went through
I will confess to a moment of buyers remorse thinking maybe I could have done better
I expect I would have that no matter what I paid
I do have a streak of outright cheapness--but just a small streak

 

[JSMBC]

Invoice is just under $6000 and it is ocean view
I have dealt with the seller before so I am comfortable that the sale is Legit
I do not own any timeshares in the Vistana system (nor the Marriott system) nor any in Hawaii
At that price (if I checked correctly) the sale may or may not clear ROFR
I have family who are big into the Marriott system.
With the merger any benefit to putting it in their name?
Can I use a family trust to hold title?
I assume the best use of this timeshare would be personal use and not trading but if it clears ROFR I may not be able to really secure a time I can actually use in 2020--if so what are my best options ?
Any other suggestions for a newbie to Vistana and Hawaii (but not to timeshares) ?

Nice purchase, I am looking for something similar. What was the process like after you won the bid?

 

[alohakevin]

I am happy it went through
I will confess to a moment of buyers remorse thinking maybe I could have done better
I expect I would have that no matter what I paid
I do have a streak of outright cheapness--but just a small streak

If it makes you feel better I purchased resale 2B/LO EOY IV for 8 grand 10 years ago and couldnt be happier I did. We have since requalified. Many happy vacas to come congrats

 

[5finny]

Nice purchase, I am looking for something similar. What was the process like after you won the bid?

Process is ongoing
This unit was in a Bankruptcy and was being sold by the trustee
The agent could have gotten a deed from the trustee but that raises a question for later buyers because old owner is not directly in chain of title (question is resolvable by verifying bankruptcy and bankruptcy sale was proper-but it is an extra step)
Agent is therefore having the trustee have the bankrupt sign the deed
I will the get the deed and it will be my job to get it recorded
I tried to get a title company to assist with this but they would not get involved with a bankruptcy sale.
I expect I can get it recorded but will not be surprised if first try is sent back
Seller ( who I have used before so I have some faith in) handled paperwork on ROFR
She is also checking with title company to see if they will get involved if the deed is coming from the bankrupt rather than the trustee
So couple extra steps but I am OK with it

 

[5finny]

If it makes you feel better I purchased resale 2B/LO EOY IV for 8 grand 10 years ago and couldnt be happier I did. We have since requalified. Many happy vacas to come congrats

Thanks
What was the advantage to requalifying and how did you do it ?
Do you suggest I try and do the same ?
First use is 2020 and I assume best times will be taken
If I can't actually use I am assuming I would be better to just deposit the star options ?

 

[byeloe]

Thanks
What was the advantage to requalifying and how did you do it ?
Do you suggest I try and do the same ?
First use is 2020 and I assume best times will be taken
If I can't actually use I am assuming I would be better to just deposit the star options ?

I don't think there is much advantage in requalifying your week since it is already mandatory and you can use the SO

 

[alohakevin]

Thanks
What was the advantage to requalifying and how did you do it ?
Do you suggest I try and do the same ?
First use is 2020 and I assume best times will be taken
If I can't actually use I am assuming I would be better to just deposit the star options ?

We ended up purchasing some additional properties and just decided to bring into fold. If I had to do over probably would have done differently (this got us to 3 star which is a whole other conversation) due now to years of tug reading. Wouldnt be in a hurry to requal especially owning a mandatory property as byeloe mentioned.

 

[BK2019]

I'm looking into purchasing my first Westin Resort and had a few questions.
- If buying an every other year contract, should the buyer pay the MF on a non-use year? Let's say buying an odd year contract in 2020.
- Can a two-bedroom lockout make two home week reservations 1in a studio the other in a 1 bedroom?
- Can a home week or SO be borrowed in a non-use year for an EOY deed?
- I've seen some 2bedroom lockouts with 148,100 listed as ocean view others as island view. I thought there was only OF and non OF in terms of deeds.
- What is a good price for a 2bedroom lockout every other year at the Westin Kaanapali North?

 

[jabberwocky]

I'm looking into purchasing my first Westin Resort and had a few questions.
- If buying an every other year contract, should the buyer pay the MF on a non-use year? Let's say buying an odd year contract in 2020.

That would be negotiated as part of the sale. I’ve seen situations where the buyer will reimburse for the off year. We bought a week in the use year and the seller gave us free usage.

- Can a two-bedroom lockout make two home week reservations 1in a studio the other in a 1 bedroom?

Yes. You can do it concurrently or for different weeks.

- Can a home week or SO be borrowed in a non-use year for an EOY deed?

No. Home weeks can’t be borrowed. Only SO and then they have to be from the same EOY status. For example you could borrow 2023 EOYO usage for a 2021 reservation but not for a 2022 reservation since odd can only be borrowed from odd and even from even.

- I've seen some 2bedroom lockouts with 148,100 listed as ocean view others as island view. I thought there was only OF and non OF in terms of deeds.

There are three views: island, oceanview and oceanfront. OV and IV are both 148,100. OF get 176,700. Each one pays the same fees at WKORVN for the same size unit.

- What is a good price for a 2bedroom lockout every other year at the Westin Kaanapali North?

Whatever price you are happy with. OF will run 12.5k-15k for an EOY deed. Sometimes a bit less but you would have to be on the ball. OV and IV units will be less with OV > IV. I’d personally go for the OF since the MF are the same.

Good luck!