Kierland resale

[tomandrobin]

We finally got around to purchasing a second unit at Kierland. Took a while, but just never seemed the right time or I was too low on my offer.

Since this is my first resale contract, what shoud I expect?

How long does the process take?

How long before I am in the Staerwwod system?

When can we start using the unit we purchased?

Any other tips to make the preocess smooth would be appreciated!

Thanks
Tom and Robin

 

[girlsouth214]

Congratulations! I don't have any information to offer regarding the resale process. However, I was wondering how you went about purchasing your Kierland resale. I'm looking to do the same thing ...

 

[DavidnRobin]

We finally got around to purchasing a second unit at Kierland. Took a while, but just never seemed the right time or I was too low on my offer.

Since this is my first resale contract, what shoud I expect?

How long does the process take?

How long before I am in the Staerwwod system?

When can we start using the unit we purchased?

Any other tips to make the preocess smooth would be appreciated!

Thanks
Tom and Robin

Congrats.

Some of your timelines will depend on who sold it to you and what closing company is used. If it is a TS broker like SmartChoice - who did ours - it will go very quickly, but it does depend on the Owner on getting the necessary paperwork - and whether they still have a mortgage out on the unit.

SVO Title is very quick on their side once they have all the required documantation.

Make sure your PA (Purchase Agreement) contains all the info you need (and agreed to) for the sale - there are threads about this.

There is no ROFR on WKV - so no delay there.

As to the start date - that will depend on what season you bought, and what your first year of usage is. If it is soon and the Owner was smart - they would have made a reservation already that they can transfer to your name.

The Owner that we bought from failed to do this - so I had them make a reservation for us - actually SmartChoice made it for the Owner and then transferred it into our name. We bought in November and used in March - as I wrote about in my WKV thread. The paperwork was cleared in about 2 months but that was slow because the Owner still had a mortgage out and wasnt quick on the follow-thru.

 

[tomandrobin]

Congrats.

Some of your timelines will depend on who sold it to you and what closing company is used. If it is a TS broker like SmartChoice - who did ours - it will go very quickly, but it does depend on the Owner on getting the necessary paperwork - and whether they still have a mortgage out on the unit.

SVO Title is very quick on their side once they have all the required documantation.

Make sure your PA (Purchase Agreement) contains all the info you need (and agreed to) for the sale - there are threads about this.

There is no ROFR on WKV - so no delay there.

As to the start date - that will depend on what season you bought, and what your first year of usage is. If it is soon and the Owner was smart - they would have made a reservation already that they can transfer to your name.

The Owner that we bought from failed to do this - so I had them make a reservation for us - actually SmartChoice made it for the Owner and then transferred it into our name. We bought in November and used in March - as I wrote about in my WKV thread. The paperwork was cleared in about 2 months but that was slow because the Owner still had a mortgage out and wasnt quick on the follow-thru.

Thanks!

We are using Resort Closing Inc for all the paper work. The unit in Platinum and 2008 unit is still available as is 2007. We were told that there was not a mortgage on the property and MF's are paid to date. We shall see when all the paperwork comes.

 

[pointsjunkie]

make sure you read the papers very carefully. yesterday i received my closing papers to sign for a 2 br l/o at SDO and after the title only said 1 small br, well guess who is in the market again!!! the timeshare company that posted it was so po'd at the owners and quite embarressed. luckily no money exchanged hands. READ READ READ

 

[tomandrobin]

make sure you read the papers very carefully. yesterday i received my closing papers to sign for a 2 br l/o at SDO and after the title only said 1 small br, well guess who is in the market again!!! the timeshare company that posted it was so po'd at the owners and quite embarressed. luckily no money exchanged hands. READ READ READ

absolutely!!!!!

 

[oneohana]

Resort Closing Inc

Resort Closing Inc is slow in their processing. They are in no hurry, they already have your money. There was a previous post regarding them.
I had to send some additional fees that were required by the county, I sent it to them the next day. It took almost 2 weeks for them to document that they received the funds. 2 1/2 months and counting. I hope you are not in any hurry. Good Luck in trying to use your 2007 week.

 

[nodge]

READ READ READ

Another source of potential nuggets of info can be found at the Maricopa County recording office database, which is available on-line.

If you know the name of the seller, you can find out the legal description of what they own, whether they ever had a mortgage on the property, and if so, if it has been paid off.

After your purchase is complete, you can also look yourself up to confirm that the deed was properly transferred and recorded.

If you want your eyes to glaze over, you can also look up the CCR's and other paperwork associated with WKV. Its official legal name with Maricopa County is “Scottsdale Senoran Villas.” You won't find much under the name Westin Kierland Villas. (Document No. 02-0790610 should get you started)

Congrats and good luck!

-nodge

 

[tomandrobin]

Resort Closing Inc is slow in their processing. They are in no hurry, they already have your money. There was a previous post regarding them.
I had to send some additional fees that were required by the county, I sent it to them the next day. It took almost 2 weeks for them to document that they received the funds. 2 1/2 months and counting. I hope you are not in any hurry. Good Luck in trying to use your 2007 week.

Before I started with the process, I read up on Resort Closings and the over whelming theme was "They are slow" but get the job done.

 

[tomandrobin]

Another source of potential nuggets of info can be found at the Maricopa County recording office database, which is available on-line.

Great tip, confirmed information that i had been told.

If you know the name of the seller, you can find out the legal description of what they own, whether they ever had a mortgage on the property, and if so, if it has been paid off.

Found they had a Mortgage and paid off in 2004. Filed deed of reconveyance to clear the title of liens.

After your purchase is complete, you can also look yourself up to confirm that the deed was properly transferred and recorded.

Will do, we have for every property purchase we have made. Its amazing how many errors we have found purchased/sold properties we have been involved.

If you want your eyes to glaze over, you can also look up the CCR's and other paperwork associated with WKV. Its official legal name with Maricopa County is “Scottsdale Senoran Villas.” You won't find much under the name Westin Kierland Villas. (Document No. 02-0790610 should get you started)

Not sure what "CCR" is, but did find info on Kierland. Found a bunch of stuff under Westin SVO Kierland.

Congrats and good luck!

-nodge

Thank You!

I am amazed of the information we have found about the sellers. Its actually really scary what is out there on the web.

 

[tomandrobin]

The owners have not used thier 2007 week. Can that be used or at the very least banked with II or is it too late?

 

[MarkAndLeah]

Can you tell us what you bought at WKV and what you paid for it? We are all so curious Thank you.

 

[tomandrobin]

Once we get everything settled, I will post the cost and all the associated fees with the transaction. I don't want to stir the pot or say anything to disrupt the sale.

 

[DavidnRobin]

The only Plat season week left in 2007 are weeks 51/52. Are the MFs paid for in 2007 - did they really pay the MFs in 2007 but not use the resort - or convert to SPs, or use II?

Make sure you read what I wrote about Resort Closings. (speaking of what you can find on the web...). I still used them (had to) for our WSJ purchase, but I went forward very cautiously.

 

[tomandrobin]

The only Plat season week left in 2007 are weeks 51/52. Are the MFs paid for in 2007 - did they really pay the MFs in 2007 but not use the resort - or convert to SPs, or use II?

Make sure you read what I wrote about Resort Closings. (speaking of what you can find on the web...). I still used them (had to) for our WSJ purchase, but I went forward very cautiously.

Everything is paid to date, including MF's. They deposited 2006 also, not sur of the circumstances.

 

[mesamirage]

I have used Resort Closings for (3) closings... I did not have any issues, everything was handled correctly and I like the online tracking system. However, that being said, I will not use Resort Closings again in the future they take WAY to long to complete transactions.

Steve

PS: When I put my Kierland EOY Even year Platinum week up for sale in the next few weeks, I will specify that Timeshare Transfers has to be used. We plan to sell our WKV since we are going to move to 100% Hyatt (and keep our SDO weeks)... I wonder with a SuperBowl lock in reservation for 2008 how much our WKV is going to fetch on Ebay.

 

[tomandrobin]

I have used Resort Closings for (3) closings... I did not have any issues, everything was handled correctly and I like the online tracking system. However, that being said, I will not use Resort Closings again in the future they take WAY to long to complete transactions.

Steve

PS: When I put my Kierland EOY Even year Platinum week up for sale in the next few weeks, I will specify that Timeshare Transfers has to be used. We plan to sell our WKV since we are going to move to 100% Hyatt (and keep our SDO weeks)... I wonder with a SuperBowl lock in reservation for 2008 how much our WKV is going to fetch on Ebay.

The "SLOOOOWWWW" thing seems to be their biggest downfall. Hers's hoping that we'll get lucky with a quick closing.

Ps- Best of luck with your future sale. I'll be keeping an eye out for the ad......."Kierland w/ super bowl week already reserved"! Cha-Ching!

 

[DavidnRobin]

My Resort Closings transaction for WSJ (purchased via eBay) actually went pretty quickly - especialy for the USVI. Of course that did involve me contacting person at the USVI deed recording agency and asking (very politely) to move the paperwork forward.

I am not sure if having Superbowl week will have units at WKV go for a premium (eventhough I reserved this week) - there is a large dilution of places to stay closer to Glendale (PHX) - even with the AFC team staying at the Westin Kierland Resort & Spa. A lot of the time the media hype does not translate to reality. This has been true for SB locations in the past.

Sorry to hear that we are losing you as a WKV owner - why keep SDO and get rid of WKV (it is such a great resort)? Is it because WKV has better resale value?

It amazes me how prices for the same unit type can vary so much ($1000s) based on how they are advertised on eBay - and perhaps the eBay sellers reputation/rating.

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=270147436812&ssPageName=STRK:MEWA:IT&ih=017

 

[mesamirage]

I am not sure if having Superbowl week will have units at WKV go for a premium (eventhough I reserved this week) - there is a large dilution of places to stay closer to Glendale (PHX) - even with the AFC team staying at the Westin Kierland Resort & Spa. A lot of the time the media hype does not translate to reality. This has been true for SB locations in the past.

Sorry to hear that we are losing you as a WKV owner - why keep SDO and get rid of WKV (it is such a great resort)? Is it because WKV has better resale value?

It amazes me how prices for the same unit type can vary so much ($1000s) based on how they are advertised on eBay - and perhaps the eBay sellers reputation/rating.

Its just a matter of capital and yearly MF. I would love to keep WKV, we love the property, we also like the perk of being a local and being able to go up for 2-3 nights at basically almost anytime or when family comes in town... if staying just a bit off season using the smaller side of the lockoff you can get a TON of nights thru the year as family events happen. For us its just economics, amount of vacation time, and looking for the greatest flexibility. Also we ALMOST went Elite 2 weeks before the change in Elite benefits, we felt it would be worth it (with requal route) but now that Starwood has shown they are willing to basically tamper with the program (and not for the better) I have been turned OFF towards them as a management team. It doesn't change the quality of the resorts they are fantastic (I would suggest all Hyatts last 3 years and going forward are at the scale of Westin, they were close to begin with).

The final thing is the reservation system totally s**ks... This alone is enough for us to move totally over to Hyatt. We are keeping SDO due to the low cost and MAX flex we get from them... I just deposited a small side of a lock off and have until July 2010 to use it... and the fees are so low, thru II I am seeing Kierland, Mission Hills, Marriotts.. all 2 bedrooms for a small one bedroom trade... none of the time is peak but we figure that is why we are going for a HUGE bucket of points with Hyatt, for the peak times. I have had ZERO issues getting back to back years spring break reservations, premium ski weeks, memorial week at Tahoe, so we feel that Hyatt gives us the best peak time choices that CAN actually get us a reservation.

Again we love Westin and hope to continue to get into Westin from time to time with our SDO weeks. We just need the cash to move into another Hyatt week.... 3180 Hyatt points now.. plan to add another 1880 so we should be at 5060 points sometime next year....

I think the core value on the EOY Platinum Kierland week is around $13k give or take $500, and hopefully the SuperBowl reservation will add $2k-$3k in value... so maybe $15k...whatcha think??

Steve

 

[DavidnRobin]

Makes sense - good luck with the sale. If on eBay - I would make sure (as I am sure you will) that it is described completely. It does seem as if the regular eBay TS brokers get more than the individuals do. The problem is if you set a reserve or high starting price - that will keep buyers away.

If it were me selling on eBay - I would set a low starting price and no reserve (and make an appealing ad) - if it didn't go for what I wanted - I would risk a bad eBay rating instead of taking a couple of thousand dollar loss. Of course - that will hurt future eBay sales.

I would try and list on other venues first (TUG, RedWeek, etc) - or even consider a TS broker - SmartChoice seems to do a nice job and they are local. It may cost you a $1000, but you may make it up in the ease of sale and price.

I may list our SB week for rent - I will post if I get any renters. I was successful with our WKORV studio (even with the evil HBO - lol)

Anyway... stay in touch - let us know how it goes.

 

[tomandrobin]

Time for an update of our resale purchase. Finally after two and half months, we are done. We were told in the begining everything would take 4 to 6 weeks. What a joke that was. We had expected everything to go quickly since the unit was paid in full and all fees were paid to date. We were paying cash, so no financing paperwork. We found ourselves having to constantly prod them along. The worse part was after we had sent the final paperwork back and cashiers check for the balance, it too 28 days for them to file the deed.

End the end it all worked out. Starwood was great in working with us after the purchase and title transfer was complete. We faxed a copy of the title and they had us in the system in 48 hours!

Our final cost was $20,000. We got a platinum 2 bedroom L/O. The seller had paid the 2007 maintenance fees and did not use thier 2007 weeks. After the account was transfered, we had Starwood deposit two 1 bedroom units into II for us. We got two Kierland units deposited into the account. We are real happy with the units that were deposited.

We are very happy with our price of our purchase. To get the unused weeks and have the seller pay the maintenance fees was a bonus. I would not use Resort Closings Inc in the future. Too many lies and delays on thier part. The seller choose that closing company.

If anyone has any questions, feel free to ask!

 

[DavidnRobin]

Congrats finally. Great price/value.

Amazing that it took so long - our WKV resale (thru SmartChoice) didn't take that long and the owner still had outstanding financing.

Even our WSJ resale purchase thru Resort Closings didn't take that long and that took into consideration of the very slow USVI processes. I guess the person at RC who did ours is no longer there as she was pretty good at moving things along.

As I wrote before - the owner of RC claims to be legal consul, but is not registered with the Montana State Bar (which is required to do so if acting as legal representation in the state) - I also could not find him listed anywhere in the states as a member of any Bar Assoc, nor any info on anyone with that last name. The Montana Bar wanted me to file a complaint, since they needed one to start an investigation, but since my transfer (and others) have gone thru - I did not. Also, the Tarpey brothers work together in their TS broker business (under a few names) and Title company (RC) - which could be considered 'shady' to put it nicely, but they do many successful closings.

 

[tomandrobin]

Every step along the way required a phone. After the phone call, we got a reaction and the processed moved one more step and stopped. Waited another week, made another phone call. We are glad it is done. :whoopie:

And thanks for your help along they way too!!

 

[DavidnRobin]

No problem - I already have my week there - and glad to help out other tuggers looking to get into what I consider the best value Westin SVO resort. I would like to buy another week at WKV, but we lack vacation time to make use of it.

I am extremely naive about II - so it turns out you were able to deposit (bank?) the 2007 week into II - is that because week 51 and week 52 are in the Platinum season so you still had potential availability to use these weeks?
Very confusing...

I really should at some point figure out II (I have read Fredm's post), but still doesn't make sense to me. We really do not need II (at least in the near future), but I should take the time to figure out how it works.

 

[tomandrobin]

I am extremely naive about II - so it turns out you were able to deposit (bank?) the 2007 week into II - is that because week 51 and week 52 are in the Platinum season so you still had potential availability to use these weeks?
Very confusing...

I really should at some point figure out II (I have read Fredm's post), but still doesn't make sense to me. We really do not need II (at least in the near future), but I should take the time to figure out how it works.

I am only guessing that is the reason. I told Starwood that we were going to trade into DVC, so that we would not get a Vistana unit as our deposit. I would have been happy with a unit from any other resort. Starwood actually deposited Thanksgiving week at Kierland. I was really happy to get those weeks.

We have not done anything with the units yet, but I can do searches with the II inventory. I can see some really nice resorts, at locations we would like to visit. If it wasn't for getting the extra weeks with the sale, we would not have ventured into II yet.

One question about the resale unit. When we look at the unit on the mystarcentral site and click on view details, it lists the staroptions and also list starpoints. Is that normal for a resale unit to indicate a starpoint value?