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% of resale owners

Fredflintstone

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Is there a list of states that have these laws? What state should you use to determine this e.g.

Your state of residence?
The state where the timeshare is located?
The state where the system is located ie Florida?
You can check through a site called nolo.com. I find you have to almost check on a state by state basis.

The timeshare laws are based on where the timeshare is located; not where you live.


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grrrah

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I'll jump in on this friendly discussion and try to take the developer's purchase side.

We all can agree that a mandatory resale purchase is the best value. No disagreements here. But this discussion started based on Lagunamar. When discussing resale vs. non-mandatory direct purchases, we are talking about two very different products with different rules. Many (I hope) that purchase direct have expendable $$$, and are usually open to spending more for conveniences and luxury. I get that many don't know about the resale side yet, so straight up telling them that you paide XX% less for the same product can ruffle their feathers. As with any conversation with a stranger, one needs to ease their way in and know when to bail if things head in the wrong direction.

Now going back to the resale side, of course the mandatory resale purchases provide the biggest benefit of the Star Options. Just for disclosure. I bought direct without regret. I plan to buy more via resale, but glad I'll have my direct one also.
 

DannyTS

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I'll jump in on this friendly discussion and try to take the developer's purchase side.

We all can agree that a mandatory resale purchase is the best value. No disagreements here. But this discussion started based on Lagunamar. When discussing resale vs. non-mandatory direct purchases, we are talking about two very different products with different rules. Many (I hope) that purchase direct have expendable $$$, and are usually open to spending more for conveniences and luxury. I get that many don't know about the resale side yet, so straight up telling them that you paide XX% less for the same product can ruffle their feathers. As with any conversation with a stranger, one needs to ease their way in and know when to bail if things head in the wrong direction.

Now going back to the resale side, of course the mandatory resale purchases provide the biggest benefit of the Star Options. Just for disclosure. I bought direct without regret. I plan to buy more via resale, but glad I'll have my direct one also.
I think we all agree that the distinction between mandatory and voluntary is for the initiated. I do not think that the developer told the original buyers that, because the product they were buying was voluntary, the resale market value would be virtually zero (or not zero in case of WLR but certainly much lower than if the resort had been mandatory).
 
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CalGalTraveler

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The majority of people we know own 1 or 2 units from the developer. They have enjoyed their units for years. We also know 1 that purchased resale only. So consistent with this thread.

Understanding and benefitting from the right resale purchase takes a LOT of work.

Some people enjoy the hunt, some find resale as the only way to afford a brand name time share, many are not inclined to spend time on the research or want a risk free transaction, or uneducated. It's the uneducated that get (rightfully) upset.

Developers probably like it that resale has perceived risks and people get scammed.
 

Fredflintstone

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The majority of people we know own 1 or 2 units from the developer. They have enjoyed their units for years. We also know 1 that purchased resale.

Understanding and benefitting from the right resale purchase takes a LOT of work.

Some people enjoy the hunt, some find resale as the only way to afford a brand name time share, many are not inclined to spend time on the research or want a risk free transaction, or uneducated. It's the uneducated that get (rightfully) upset.

Developers probably like it that resale has perceived risks and people get scammed.
I can see one case where buying direct would be worth it. Lets say you find a resort you love and all you want to do is go there and only there every year. If the place is a high demand Disney as an example, you will pay a lot resale anyway. Also you scour and just cant find resale due to the resorts high demand and you find exchanging very difficult too. In that case, buying direct makes sense.


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TravelTime

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One thing that is interesting, since Disney was mentioned, is once resorts are sold out, Disney will tell you to buy resale. I had to buy Grand Cal resale because Disney’s waiting list was really long - at least 2+ years if ever. My Disney rep told me to buy resale. However, after a little begging, he put me at the top of his VGF list to buy Grand Floridian from him even though the wait for buying VGF direct was 6 months to a year. Other Disney reps told me to buy Grand Floridian resale because the wait was too long direct but my rep called me back a week later with two small VGF contracts totaling what I wanted. I also bought some small contracts direct for Poly and Animal Kingdom since the price difference was small and buying direct from Disney is instant. The points are in your account that evening. As we know, buying resale takes about 60 days and sometimes longer if there are problems.
 

CalGalTraveler

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I don't think resale buyers have any reason to be shamed. For those that think that resale is gaming the market some good responses might be:

"If resale didn't exist, who would buy your timeshare when you want to stop paying maintenance fees and are ready to sell?"

"Sure it's a low price, however what we paid is what the market dictates. We are committing to pay the same annual maintenance fees as everyone else, and are assuming risk that we may not get our purchase price back when we sell; the low price compensates for this risk."
 

TravelTime

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I am not sure anyone thinks buying resale is gaming the system. I also do not think you need to respond to anyone who questions it. In fact, if you do not bring it up, no one will ever know you bought resale. I think the issue is people who pay full retail may feel ripped off when they learn there is a resale market and they paid 4 to 10 times more. Then they will go into justification mode and try to argue with others purely to justify why their purchase made more sense. Think about our current political system and why people will justify who they voted for. It is the same thing with purchase decisions. People need to rationalize decisions and defend them. Very few people want to admit to an error that costs a lot and makes them look dumb.
 

cvelasco

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I think your sales person did a great job of mixing up the timeshare and hotel sides of the Marriott/Vistana merger to get you interested in buying! The Marriott/Starwood hotel points programs have been fully integrated, and you can now reserve at any hotel in the system with loyalty hotel points. You can also convert your StarOptions and Marriott Destination Club points into hotel points (at a poor conversion rate), but you cannot use Vistana StarOptions for Marriott Vacation Club timeshares or vice versa right now. Maybe we'll see it in the future, but no one knows if, when, or how that will happen.

You were smart to walk away from this "deal" and get your $100! :clap:
Hi I need help. We just purchase this "UPGRADE" yesterday. We were told we could use this points program to rent any resort. It cost us 15000 to convert our 3 weeks to this system. We were told that with this program our kids would not be burdened with our timeshare later and would not have to accept our timeshare upon death.They said this flex type program will not be offered at the price they are offering now. Sold as more flexible to use points instead of options for hotels resorts and flights with Inerval instead of Starwood. I am having buyers remorse.
 

CalGalTraveler

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Hi I need help. We just purchase this "UPGRADE" yesterday. We were told we could use this points program to rent any resort. It cost us 15000 to convert our 3 weeks to this system. We were told that with this program our kids would not be burdened with our timeshare later and would not have to accept our timeshare upon death.They said this flex type program will not be offered at the price they are offering now. Sold as more flexible to use points instead of options for hotels resorts and flights with Inerval instead of Starwood. I am having buyers remorse.
Your children will not be obligated. Total lie.

Hurry before deadline passes. It would be wise to wait and see what Marriott acquisition of Vistana does to programs before buying any more.

Check your contract on rescind deadline and instructions. Do this now because you dont have much time or will be locked in.
 

cvelasco

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Thank you we have 10 days and I will be sending a letter. So heirs with flex program is the same.?They said because of the rofr they are not obligated to accept timeshare. This was the only reason we bought. Thank you
 

PamMo

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...We were told that with this program our kids would not be burdened with our timeshare later and would not have to accept our timeshare upon death...
This drives me crazy. They will tell a potential buyer WHATEVER they can come up with to close a sale. I haven't heard this one before, though. Pay us extra for this great package so your kids won't be burdened with it when you die??? They usually tout how great it is to leave it to your kids!

And, ROFR only benefits them. They can, but don't ever have to exercise it. (When they say it's beneficial to your heirs, that's garbage.)

Your buyers remorse is spot on. Rescind. Rescind. Rescind.
 
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CalGalTraveler

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Maybe they dont have to take it back but that is not your heirs problem. It becomes the HOAs problem.

Why would a trust points program be any different? Is it because they manage the trust? I'll bet their lawyers have that one figured to their benefit too.
 

alexadeparis

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Your heirs don’t have to accept ANY timeshare they don’t want. They can simply decline that part of the inheritance. No one can be FORCED to own property they don’t want.
 

dioxide45

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Depending on where your deeded weeks are that you were signing back to them, they may be worth more to your heirs than the Sheraton Flex package you bought to replace them with.
 

alohakevin

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I would guess that once people have bought through developers, if you tell them about resale, they will be majorly pissed off, and justifiebly so. They were ripped off! However, I do not think this will lead them to resale if it is too late to rescind. I suspect they will end up being turned off about timeshares and feel screwed yet be be happy with the extra benefits they get as a direct owner. I suspect it is it better not to talk to people about about how you acquired your timeshares and how much you paid. It is like bragging. I do not think we should judge people either way.
On the other hand it may motivate to be a more knowledgeable consumer. We learned the hardway with first purchase then learned the system. It does amaze me how many owners with years of experience dont really understand how it works. Go Tug.
 
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