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ON the fence about Aruba Surf Club - advice please

R2Bbrock

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My husband and I are actually in Aruba now - staying at a trade at the Marriott Ocean Club. We were very impressed and took the tour of the Surf Club - signing for an ocean view, gold season without much convincing. The salesperson was very low pressure and we essentially talked ourselves into the purchase because we have had such a good time here. We already own a Grand Vista (purchased a resale) and a Hyatt Sierra Lodge (also a resale) so this would be the first time that we bought through the developer. Are we crazy to pay full price ? We got the usual incentives - we'll do the financing through Marriott for the minimum 6 months, get a total of 280,000 rewards points and then pay it off using our home equity line of credit at half the interest rate in in a lot less than 15 years. However it is still a hefty price. Can anyone give us some insight as to how easy it is to find and buy a resale (gold, ocean view) at the Surf Club - assuming we pay enough to pass ROFR ? Also the salesperson told us a few things that made us have concerns about resales in the future - Marriott will most likely be creating their own exchange system in about two years. Those who bought resales will only be able to trade six months in advance or less. Those who buy resales in the future will be restricted from using lock off features. Can anyone comment (with some actual knowledge) on these statements ?

I know that we can cancel within seven calendar days and I actually did this before both at Grand Vista and Hyatt in Bonita Springs so it does not worry me to do so if we change our mind after thinking about the purchase with a clear head - i.e. out of the vacation mindset. Any advice/insight would be greatly appreciated. Thanks in advance !
 

Docklander

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My advice (and that's all it is...advice) is to recind straight away. I purchased OV gold at the Surf club this time last year (thru Marriott) and although I cant really regret purchasing the weeks because I love the island so much it's worth noting that I recently purchased two Ocean FRONT weeks resale for less than I paid for my two OV weeks. If you keep watching Redweek and eBay amongst others you will almost definitely get exactly what you're looking for for less than you are currently going to pay. IMHO recinding is the best thing to do.

P.S I'ts my last night at the Surf Club tonight and I really really really don't want to leave :)
 

Docklander

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Also the salesperson told us a few things that made us have concerns about resales in the future - Marriott will most likely be creating their own exchange system in about two years. Those who bought resales will only be able to trade six months in advance or less. Those who buy resales in the future will be restricted from using lock off features. Can anyone comment (with some actual knowledge) on these statements ?
Although the Marriott specific exchange system will probably happen (its been discussed here at length before) I really doubt Marriott would be silly enough to alienate a large proportion of it's owners buy placing such harsh restrictions on resales, for one it would have a devastating effect on the resale price and there is only so may units marriott will buy back so prices will go thru the floor...not exactly a good selling point for marriott. Dave M will be in a better position to comment fully.
 

gmarine

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My advice is to rescind immediately. Financing a timeshare in general isnt a good idea. And since you already own two others, its a no brainer. Taking on more debt for a third timeshare isnt a good idea. And it makes the decision to rescind even easier being that it is a developer purchase.

Rescind, enjoy your vacation, and if you want to go back to SC, exchange for it in the future.
 

tombo

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If Marriott ever does limit resale purchases to reserving weeks 6 months out, then I doubt they could enforce that on weeks purchased resale before the change was made (you should be grandfathered). How can the unit sold to someone with a lockoff option lose the rights to use lockoff upon resale? These are either bluffs, or if they are true I wouldn't buy a unit there resale or retail (never ever buy retail).

If Marriott ever does get so greedy (or stupid) that they diminish the value of their resales drastically, then that means if you ever want or need to sell your week for health or financial reasons you will take an even bigger loss from buying retail than the current 50% or more loss. Would you buy a house, a car, or any other high ticket item from someone who tells you that after you buy it they are going to change the rules to make it far less valuable if you need to sell it later? That would make me not want to own at the resort at all!

I would never ever finance a timeshare. If you don't have the cash to pay for a timeshare, then you don't need it. If you must buy, only buy resale. If the salesman is telling the truth about how they will devalue the resale value of your purchase in the future (whether you bought retail or resale), then I wouldn't want to own there at all. RESCIND NOW!
 
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Carmel85

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I would always take a month think about it when you get home the deal will still be there and you shouldn't rush into anything especially when you are on a GREAT vacation it can cloud your mind and cost you $$$ dearly for years to come.

Try to buy on resale just like your Hyatt you will always save big $$$


Enjoy your vacation and dont always trust what the salesman says remember he only gets payed when there is a sale unlike a lawyer he gets payed all the time. haha

Bob
 
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R2Bbrock

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Thanks

Thanks, I think the advice is all good and we should go for a resale. I wonder if they will let us cancel in person if I walk over to the preview office. Otherwise, I will put it in the mail here - it has to be delivered to the office here in Oranjestad. I will even give them back their t-shirts and hats. They were out of beach bags so we didn't get that !
 

m61376

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The SC is a great resort; we love it there too. Glad you're enjoying your trip and, rest assured, you are making the right decision. Trust me, you will enjoy your future trips even more knowing all the $$'s you've saved buying a unit resale.

As far as the internal trading system- DaveM (our resident expert here) has posted repeatedly that it is in the works but there are no definitive details, so your salesperson was either verbalizing wishful thinking (at best) or just making it up to bolster sales. Since past customers fuel future developments by repeat purchasing, with many original resale purchasers buying pre-construction at new developments, and given Marriott's expected expansion over the next several years, I think it is highly unlikely that they would alienate so many people, as well as pulling out the rug from under the resale market. The comments about lock-offs especially doesn't make any sense, since resale purchasers already purchased lock-offs. It is possible that they will make things harder for future resale purchasers once they develop their internal trading system (as suggested above, grandfathering present owners), but I doubt they will even do that for two reasons: if they suppress the resale market, they will be devaluing their own properties, because people will think twice before buying if they know that they will lose a lot when reselling and it will really impede their own internal trading system, because people will continue to trade extensively with II, with the relatively scarce Marriott deposits probably having even better trade value. So from a business perspective it just doesn't make sense. A healthy resale market is, in a way, good business for Marriott too, because it is a sign of a valuable product. Of course, I'm just pontificating here- but so was your salesperson.

Anyway, when you get home, look for a nice OV Gold unit and save close to 40% off Marriott's direct prices.
 

CMF

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Marriott Owner Services

Also the salesperson told us a few things that made us have concerns about resales in the future - Marriott will most likely be creating their own exchange system in about two years. Those who bought resales will only be able to trade six months in advance or less. Those who buy resales in the future will be restricted from using lock off features. Can anyone comment (with some actual knowledge) on these statements ?
I called Marriott Owner Services right after reading this. The reps are either very well trained and excellent actors, or they are really in the dark about this. I also spoke with Tom Conway, the sales rep at Manor Club, he also said that he knows nothing about this very convincingly. I hope that the next person who hears this line from a sales person holds their feet to the fire by insisting on some sort of proof. I'm tempted to go to a few presentations myself and bait the sales rep.

I am confident that something is in the works, but I am annoyed that Marriott is inconsistent in what is telling owners and prospective owners.

Charles
 

gores95

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Thanks, I think the advice is all good and we should go for a resale. I wonder if they will let us cancel in person if I walk over to the preview office. Otherwise, I will put it in the mail here - it has to be delivered to the office here in Oranjestad. I will even give them back their t-shirts and hats. They were out of beach bags so we didn't get that !
We visited Aruba in November of 2006 and were also smitten with the Surf Club. We were tempted to plunk down $27,500 or so for OV Gold but decided to wait. Came home, read LOTS of info on TUG and in 1/2007 purchased a 2BR Gold OceanSIDE for $15,500 that passed ROFR.

We have heard all the potential horror stories concerning resales and will be closely monitoring. I can't see them penalizing all the current owners who purchased resales...I could see lots of lawsuits if that happened!

Anyway you are making the right decision to recind. Check my older posts for more info...
 

m61376

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Thanks, I think the advice is all good and we should go for a resale. I wonder if they will let us cancel in person if I walk over to the preview office. Otherwise, I will put it in the mail here - it has to be delivered to the office here in Oranjestad. I will even give them back their t-shirts and hats. They were out of beach bags so we didn't get that !
Just one more comment- you can cancel in person, just make sure they give you written documentation. Not that I am maligning anyone, but given the shall we say less than truthful salespitch, do not trust a verbal exchange with your salesperson. Ask for a date stamped copy of your recission letter.

Enjoy the rest of your vacation and, btw, welcome to TUG!
 

Dave M

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Also the salesperson told us a few things that made us have concerns about resales in the future - Marriott will most likely be creating their own exchange system in about two years. Those who bought resales will only be able to trade six months in advance or less. Those who buy resales in the future will be restricted from using lock off features. Can anyone comment (with some actual knowledge) on these statements ?
My response is significant enough that I have started a separate thread on the topic. See this link.
 
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