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Question Sheraton Broadway Plantation Purchase

jojo777

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I just purhased a Sheraton Broadway Plantation. Today the timeshare company told me that they need to reimburse me for the maint fee I paid since the owner deposited the week in RCI.

If the owner did deposit the week, and they did not eschange it, would that transfer to me?

Also if anyone knows how this trades that would be helpful information for me. I have a question about depositing this week with II. Because I bought resale, I just book the week, deposit it in my own existing II account and I still get the 3 day rule??

Do I have that riight?
 

clsmit

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I just purhased a Sheraton Broadway Plantation. Today the timeshare company told me that they need to reimburse me for the maint fee I paid since the owner deposited the week in RCI.

If the owner did deposit the week, and they did not eschange it, would that transfer to me?
I am assuming an every year purchase that you thought you could use in 2009. Since you didn't know that the previous owner had already reserved and deposited a week as part of the purchase process, it appears that you do not have use of your week for 2009. You should get the 2009 MFs back, and I'd be pretty mad that the broker for the trade/closing company didn't know or tell you about this up front. If the deed is already recorded and SVN says you're the owner then you're pretty much out of luck. But if the deal isn't 100% done I'd consider renegotiating the price.

Also if anyone knows how this trades that would be helpful information for me. I have a question about depositing this week with II. Because I bought resale, I just book the week, deposit it in my own existing II account and I still get the 3 day rule??

Do I have that riight?
You have it right. SBP seems to trade pretty well for summer and spring break. Fall can be OK, winter not so good.

Hope this works out for you!
 

djyamyam

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I just purhased a Sheraton Broadway Plantation. Today the timeshare company told me that they need to reimburse me for the maint fee I paid since the owner deposited the week in RCI.

If the owner did deposit the week, and they did not eschange it, would that transfer to me?

Also if anyone knows how this trades that would be helpful information for me. I have a question about depositing this week with II. Because I bought resale, I just book the week, deposit it in my own existing II account and I still get the 3 day rule??

Do I have that riight?
You just stated the current owner deposited with RCI. Yes, the week could be transfered to you but you would have to pay the MFs. That also assumes that you are an RCI member. You'd also have to pay the RCI transfer fee to move the week to your account.

It sounds like you want to deposit the week into II for the Starwood preference. However, you woulnd't be able to do that this year because the week has been deposited into a different exchange company.

So do what the closing company is telling you. Take the refund of the MFs and wait to book something for 2010. Summer Myrtle Beach trades well.
 

jojo777

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The deal is not 100% done. However I have paid in full. I thought about this more last night. The owner agreed to call and reserve me a summer week. It is written in purchase agreement. They were to call me yesterday with the week (the timeshare company) I think what happened is they did and now the timeshare company who also rents weeks wants to refund me the amount I paid toward the maint fee and rent the week for the owner or themselves. We had an agreement that they would pay 1/2 of the maint fee. I think when they called they got a great summer week. There have been so many lies throughout this deal. I think this company is shady.
 

tlpnet

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Although not unlikely that the timeshare company is shady, what they told you is also very possible. Two weeks that I purchased for "next year usage" had this same issue. When you're exchanging with RCI, you can space bank 2 years in advance. The timeshare companies, one fairly reputable, one not so much didn't check that because they forget about the 2 year deal. When I found out this happened is when the weeks got into Starwood's system and I called to make arrangements for usage. The same will happen with you. If in fact they made a reservation for a summer week instead of space banking, once the property is in your name, you could cancel their reservation. They would have no right to the week because the reservation would no longer be in their name, but in yours. You would have to add their name to "your" reservation to let them check in.

-tim
 

Captron

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They may be trying to keep the week for themselves or the week deposited with RCI may not have gotten them the week you want either. Either way, I think you have the rental company get you your week for the agreed upon 1/2 maint fee or you renegotiate for the original price minus whatever it would cost you for the (most expensive) rental for the week you wanted. (and some frustration compensation) You still only pay 1/2 the maint fee. How did you pay? If it is with credit card/paypal etc. you can threaten to withdraw payment. To do this you must be willing to follow through and start over finding another resale week. That would depend what deal you got on this week. There are some SMOKIN' deals out there because of the economy so you may even be able to do better. DON'T BACK DOWN, if it is explicit in your contract then they must deliver or you are well within your right to back out.
 

Captron

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Tim,

That is true EXCEPT if they did the booking through RCI. IF they have another property and are keeping the account they may get away with it. Not even Starwood can insist on getting a week back from RCI, particularly if the week has been exchanged. Starwood would be less likely to go to bat for a resale week as well IMHO. The RCI account is theirs and does not transfer with the unit so yours would be an unlikely scenario.
 

tlpnet

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Tim,

That is true EXCEPT if they did the booking through RCI. IF they have another property and are keeping the account they may get away with it. Not even Starwood can insist on getting a week back from RCI, particularly if the week has been exchanged. Starwood would be less likely to go to bat for a resale week as well IMHO. The RCI account is theirs and does not transfer with the unit so yours would be an unlikely scenario.
I wasn't clear on that point. One space banked, they can do anything they want with the week, and they don't have to have another property to keep the RCI account. It's theirs as long as they pay their membership. Once it's banked, Starwood has no control. The OP was requesting a reservation at SBP which would have been in network, so if the week wasn't banked, the reserveration becomes the deeded (new) owner's.

On one of mine, the owner agreed to transfer their banked week to my RCI account and I was able to get the transfer fee waived so I got the banked week. On the other one, it hasn't been resolved, but I've asked for a transfer to my RCI account with them covering the transfer fee plus a reimbursement of one year RCI fees OR a reimbursement of 2009 MF's and 2009 SA (it's SVR). If they have used "my" banked week for 2009, then they should pay for it. We'll see what happens.

-tim
 

Captron

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Tim,

Good Luck! It sounds like you are definitely in the right and are being quite reasonable with your requests. It sucks that you have to go through that after the fact. Again, Good Luck. Let us know how it works out.
 

DeniseM

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This is a buyers market. You can get the same or better deal from someone else. Tell them you want EXACTLY what you agreed to, or you want your money back. You do not have to go through a purchase in which the seller defaults on their end of the agreement. Even thought you have paid, the money should still be in escrow if the deed hasn't been recorded.
 

jojo777

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Thanks to all for the advice. I spoke to the company again today and they told me that they went by what the current owner told them. When they went to make the reservation, they found out that the week was banked. I really want this timeshare and it is a really good deal or I would give it up. I am going to accept money back for the maint fee and go with it.


Is it common practice to see the "actual" deed before buying? I am not signing the second set of docs before I see it. I have a purchcase agreement with the details but I dont trust these people.

Initially they changed the agreed upon price after they found out it was a lock off. Either they are sloppy or shady.
 
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