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Question about floating weeks at deeded resorts.

Pizza67

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Just a quick question for anyone that may know. I've seen deeded float weeks for sale (ex. Galleon Resort) and was wondering how they differed from the normal deeded weeks for specific units (other than it floating of course)?

I currently own a right to use week (in MX), so I'm aware of how floating weeks work, but wasn't sure about how they are at a location where the majority are specific units for designated weeks.

Are the float weeks for a specific unit or just whatever is available in the float period? How is that deeded?

Just wondering how this works. Any information is much appreciated.

Thanks.
 

DeniseM

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Floating weeks may float 1-52, or them may float during a certain season (specific weeks.).

Owners usually have to call during a certain timeframe to reserve thier week.

The week stated on the deed is for recording purposes only.

Usually floating weeks are not for a specific unit, but they may be for a specific view. For instance, at a beach resort, it may be for ocean front, ocean view, or garden view.

Every resort has different rules, so it really depends on the resort.
 

theo

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Well worth repeating...

Floating weeks may float 1-52, or they may float during a certain season (specific weeks)......Every resort has different rules, so it really depends on the resort.

An excellent and critically important point, particularly since any restrictions / blackout periods, etc. associated with a "floating" or "flex" week ownership will not be identified (or even mentioned in any way) within the contents of the associated deed. This type of information regarding "floating" week rerservations (or associated restrictions) should be obtained and confirmed (before purchase) directly with the resort.

You don't want to inadvertently buy a "floating" week whose only usage period(s), even if at a desirable location, prove to be of absolutely no use or interest to you. Take it from someone who made this very mistake (...once) some years ago and has clearly retained the learned lesson ever since...:eek:
 

Pizza67

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Thanks for the replies. Actually, some of the ads that I've seen do specify the float weeks (single range or multiple ranges).

Excellent point on finding out any restrictions within the specified float range(s). As well as if the float applies to a particular view or building (if more than one on property).

And that's why we're all here, to share the knowledge. :)

Thank you.
 

jlwquilter

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It's also CRITCAL to find out how any deposits to an exchange company will work. You may intend to always use your week yourself, but life happens and you may suddenly find that you need to deposit a week for exchange - or you may find that you just want to change it up a bit and go somewhere new once in a while or all the time later on.

Some resorts will not allow you to deposit a specific week, even if it's in your ownership range. They pick the week. It rarely is the best week for exchanging.

Buying a float week involves alot more upfront work (ie: asking ALOT of questions of the seller and the resort) to make sure you get the best you can. And you need to really know what quesitons to ask too. This was hard for me at first as I simply didn't know what I didn't know!

I suggest you make a list of questions you think you need to ask and then post them here and ask for people to add more if needed. This way you do alot of the initial work (that's only fair :) ) and more experienced people can further guide you.
 
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Pizza67

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Excellent advice. I'm in no real hurry to do anything though, at least I've learned to start the research BEFORE hand and that's half the battle.
 
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