Maui Ocean Club asking 13.5k-Question

[mike2200]

Maui Ocean Club seller asking 13.5k for a 2bd 3ba annual OV my concern is nothing is booked for 2012 thus I will end paying the MF and not get anything for the additional cost...input would be appreciated on value of this unit

 

[gblotter]

Maui Ocean Club seller asking 13.5k for a 2bd 3ba annual OV my concern is nothing is booked for 2012 thus I will end paying the MF and not get anything for the additional cost...input would be appreciated on value of this unit

$13.5K is at the high-end of what you should pay for that type of unit. There have been only two 2BR Ocean View units listed on eBay this year, but if you are patient you should be able to get a better deal than $13.5K. Or use these two eBay listings as leverage to negotiate down the price with this seller.

Here are two for reference:

eBay auction #270853009974
Active auction with 13 bids
Sold 11/20/2011
Selling price = $11,300 + $519 closing costs
See http://www.ebay.com/itm/270853009974

eBay auction #160658066881
Very active auction with 39 bids
Sold 9/30/2011
Selling price = $12,222 + $569 closing costs
See http://www.ebay.com/itm/160658066881

Regarding 2012 usage: I would provide the seller a range of dates that are acceptable to you and have the seller check 2012 availability now before proceeding. Without a usable week in 2012, the value of the purchase goes way down (especially at that $13.5K price).

 

[thinze3]

Have the owner reserve a week that is about 8 or more months out so you will have something to deposit. You will getting a week that can trade into just about anywhere, including back into Maui.

 

[vacationtime1]

You raise a good question. Why won't the seller reserve a 2012 week for you so you know what you are getting for certain?

There is a thread perhaps a month ago where someone backed out of an identical deal for a couple thousand less than yours for this reason. It may actually have been the same seller and the same unit.

Added: it was one of the two transactions gblotter cites in post #2

 

[mike2200]

Seller has just come back and stated he will pay the 2012 MF and use it thus the price would be 13.5K with no MF for 2012 and use begins 2013 which is fine with us because we are already booked in MOC for Feb 2012

 

[gblotter]

Seller has just come back and stated he will pay the 2012 MF and use it thus the price would be 13.5K with no MF for 2012 and use begins 2013 which is fine with us because we are already booked in MOC for Feb 2012

That makes the deal more appealing. However, I still think that $13.5K is a bit high. Suggest you use those two eBay listings to negotiate a lower price with this seller.

 

[mike2200]

That makes the deal more appealing. However, I still think that $13.5K is a bit high. Suggest you use those two eBay listings to negotiate a lower price with this seller.

Have used the Ebay sales for comps perhaps can get it down to 13k but pretty sure that will be the bottom...

 

[gblotter]

Have used the Ebay sales for comps perhaps can get it down to 13k but pretty sure that will be the bottom...

$13K with usage starting in 2013 is a good deal. Is the seller reputable?

Also, try to choose your own closing company if possible (instead of just going along with whatever the seller chooses). Even if you have an honest seller, a bad closing company can make the experience seem like hell. There are a number of highly-rated timeshare closing companies that are recommended here on TUG.

 

[mike2200]

$13K with usage starting in 2013 is a good deal. Is the seller reputable?

Also, try to choose your own closing company if possible (instead of just going along with whatever the seller chooses). Even if you have an honest seller, a bad closing company can make the experience seem like hell. There are a number of highly-rated timeshare closing companies that are recommended here on TUG.

this is with a Real estate agent representing the seller..............licensed and checked via the web by us

 

[pacman]

I am looking at this same purchase. If the seller makes a reservation, wouldn't that reservation follow the sale? How, could I, as the buyer, be entitled to that week if thats what agreed between the buyer and seller?

 

[MOXJO7282]

I am looking at this same purchase. If the seller makes a reservation, wouldn't that reservation follow the sale? How, could I, as the buyer, be entitled to that week if thats what agreed between the buyer and seller?

You specify in the documents what's the first year of usage. So in this case it would be 2013 and that is what Marriott recognizes.

$13500 is a good price from what I've seen in the limited sales that have been documented.

 

[pacman]

$13500 is a good price from what I've seen in the limited sales that have been documented.

I agree. I'm looking to pay $13k, with no luck so far

pacman

 

[mike2200]

MOC in escrow

MOC 2bd3ba annual OV now in escrow at 13k (no use or MF for 2012 completes the deal) done through a RA in Hawaii.

will post when the ROFR is exercised or not...

 

[m61376]

If you are hoping to go in early 2013 you might want to see if you can get the seller to reserve a week for you when the 12 month window opens for when you want to go. Surely you will be able to make your own reservation for 2013, but it may be too late if you are looking for a winter week.

Just mentioning it because you're going this Feb., so didn't know if that's when you like to go.

 

[MOXJO7282]

If you are hoping to go in early 2013 you might want to see if you can get the seller to reserve a week for you when the 12 month window opens for when you want to go. Surely you will be able to make your own reservation for 2013, but it may be too late if you are looking for a winter week.

Just mentioning it because you're going this Feb., so didn't know if that's when you like to go.

It drives me crazy that sellers aren't smart enough to secure a good rental/use week before they list it for sale. It definitely gets them a hogher resale price and it more valauble to the buyer, especially when you're talking a MOC.

I wouldn't be interested in this week because I always want a good winter week and I know it will be hard to get one without having control of the week.

This is the problem with alot of resales. The only reason I bought my 2BDRM OF off ebay was the seller reserved March 3rd, which is a good rental week. I put that up on Redweek and rented it easily for $3200. I wouldn't have purchased without that week included.

If you can use any week then its a moot point but if not it just makes it a little less valuable of a purchase for me.

 

[larryallen]

Seems like a decent price. Good luck.

 

[mike2200]

It drives me crazy that sellers aren't smart enough to secure a good rental/use week before they list it for sale. It definitely gets them a hogher resale price and it more valauble to the buyer, especially when you're talking a MOC.

I wouldn't be interested in this week because I always want a good winter week and I know it will be hard to get one without having control of the week.

This is the problem with alot of resales. The only reason I bought my 2BDRM OF off ebay was the seller reserved March 3rd, which is a good rental week. I put that up on Redweek and rented it easily for $3200. I wouldn't have purchased without that week included.

If you can use any week then its a moot point but if not it just makes it a little less valuable of a purchase for me.

You certainly came out fine renting a unit for $3200. we just rented an OV 1bd2ba for $1400 for mid Feb 2012 and we have a OF 1bd2ba so we have two weeks coming up in Maui next Month.

So our use is usually in Jan/Feb/Mar and we will ask the owner we are buying from to book two weeks (split the unit) for us...

 

[mike2200]

Update

UPDATE:

Marriott waived the ROFR on this purchase of a MOC (Maui) 2bd 3ba OV annual with use and MF not starting until: 2013 for 13K....

 

[MOXJO7282]

UPDATE:

Marriott waived the ROFR on this purchase of a MOC (Maui) 2bd 3ba OV annual with use and MF not starting until: 2013 for 13K....

This is surprising because Marriott doesn't have much inventory in the DC of MOC so you would think they would jump on this. Very good price for an excellent property, from what I can remember. I'll let you know in 23 days if it still as nice as I remember .

 

[mike2200]

This is surprising because Marriott doesn't have much inventory in the DC of MOC so you would think they would jump on this. Very good price for an excellent property, from what I can remember. I'll let you know in 23 days if it still as nice as I remember .

we will be there for two weeks starting Feb 10th, so see you on the beach!!