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

[BK2019]

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.

Thanks for the information, regarding the OV and IV deeds, since they are both 148,100 points is an IV deed allowed to book an OV room as a home week reservation?

 

[vacationtime1]

Thanks for the information, regarding the OV and IV deeds, since they are both 148,100 points is an IV deed allowed to book an OV room as a home week reservation?

No. Your home resort use is always the view category on your deed. (One could, I suppose, buy an IV unit -- or a Kierland unit -- and reserve a unit within eight months of travel; it would then be a StarOption reservation and could be assigned an OV unit. But that is not without risk.)

I agree with jabberwocky; buy oceanfront. If you are going all the way to Maui, you want to look at the ocean.

 

[CPNY]

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?

I just sold and EOYO unit, the buyer is paying the even year maint fee. Since the usage is odd, you can say the maint fee in the use year and the maint fee in the year prior are for that one odd use year. So this even year is half of next years use year maint fee. Therefore it would default to the seller taking the odd year. You should be paying for the EOY maint fee during the even year.

 

[CalGalTraveler]

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?

1) As stated by @CPNY, the best way to think about the annual MF is that the non-use year prior is half of the use year. You get extended interest free terms to pay MF for your next stay.
2) Yes. You could reserve a studio in whale season and the 1 bedroom side in summer. or you could lock-off and extend into two consecutive OF weeks. (I love the flexibility and options of this TS.)
3) You can't borrow but you can bank all or partial lockoff SO to the next year with a fee. This would give you annual usage (e.g. 1 bdrm use year; studio following year) but the non-use banked year would likely be an IV unit or a different week than desired because you don't get home preference - only 8 month SO. OTOH you are paying no more for that non-use year week than an IV owner. It's only when you trade SO to stay somewhere else (x St John) that you will likely be taking a step down and wasting your MF.
4) IDK
5) These units run $12 - $15k. You might do better but may wait a while. Plus there is ROFR and MVC may tighten soon.

 

[dioxide45]

1) As stated by @CPNY, the best way to think about the annual MF is that the non-use year prior is half of the use year. You get extended interest free terms to pay MF for your next stay.

I am confused by this statement. You don't get interest free terms to pay the MF for the next stay. If you have 2021 usage, you have 50% of the MFs paid in 2020 and 50% paid in 2021. I would have thought interest free loan would have been how Marriott does it. You pay 50% of the MF in 2021 and the other 50% in 2022. Using the extended interest free terminology would seem like you are getting that for an annual contract where you pay 100% in the use year. Since MFs are always due very early in the year, you are almost always paying the MFs before your actual stay. Unless of course you borrow StarOptions, which requires prepayment of MFs.

 

[CalGalTraveler]

I am confused by this statement. You don't get interest free terms to pay the MF for the next stay. If you have 2021 usage, you have 50% of the MFs paid in 2020 and 50% paid in 2021. I would have thought interest free loan would have been how Marriott does it. You pay 50% of the MF in 2021 and the other 50% in 2022. Using the extended interest free terminology would seem like you are getting that for an annual contract where you pay 100% in the use year. Since MFs are always due very early in the year, you are almost always paying the MFs before your actual stay. Unless of course you borrow StarOptions, which requires prepayment of MFs.

Perhaps you are right. I was thinking of it compared to paying an annual which requires 100% every year.

To me, the reason we chose an EOY is that we didn't want to have to pay that hefty annual MF every year. This is a good compromise to get the unit we like and potentially pay only $1400 per week if we lock off the unit. If we had bought a 1 bdrm we would be paying closer to $2200/week.

 

[BK2019]

Yes. You could reserve a studio in whale season and the 1 bedroom side in summer. or you could lock-off and extend into two consecutive OF weeks. (I love the flexibility and options of this TS.)

I assume there are fewer OF unites than OV units than OV units, if you are not able to book a home week for an OF unit on the week you'd like to travel, but there is an OV available. Are you out of luck and will need to find an OF room on a different home week or can you slum it in a OV unit for the week you would like to travel?

 

[controller1]

Perhaps you are right. I was thinking of it compared to paying an annual which requires 100% every year.

To me, the reason we chose an EOY is that we didn't want to have to pay that hefty annual MF every year. This is a good compromise to get the unit we like and potentially pay only $1400 per week if we lock off the unit. If we had bought a 1 bdrm we would be paying closer to $2200/week.

Yes, it is actually very much not interest free. If you think about it an annual owner is paying their MF anywhere from 1 to 330+ days prior to use.

However, an EOY owner is paying 50% of their MF 365 to 695+ days in advance of their use and the other 50% anywhere from 1 to 330+ days prior to use. That 50% paid in the non-use year would have an imputed interest rate equivalent to its forgone earnings.

 

[jabberwocky]

I assume there are fewer OF unites than OV units than OV units, if you are not able to book a home week for an OF unit on the week you'd like to travel, but there is an OV available. Are you out of luck and will need to find an OF room on a different home week or can you slum it in a OV unit for the week you would like to travel?

If there are no home weeks available you would have to find another week. If you want to book into a different view category you would have to do it via a SO reservation at 8 months.