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Resale brought into SVN

Yankeefan8980

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Hello all:
I had a resale for Vistana Resort that I purchased on eBay!
Went through the "Owners Update" this past Monday and was convinced (not yet sure if fortunately or unfortunately) to purchase from the developer and they would bring my resale into the SVN network. I now have a total package of 141,000 StarOptions for a $20k purchase... Been reading this site a bit and wish I would have found it sooner! Thoughts? Should I rescind?
 

vacationhopeful

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Rescind ,,,

Buy a mandorty SVN resort and pay the cost and the MFs for years to come with the $20K saved.

Duh?
 

Yankeefan8980

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Rescind ,,,

Buy a mandorty SVN resort and pay the cost and the MFs for years to come with the $20K saved.

Duh?

I could be completely wrong, but I was looking at it from a value perspective. Seeing as a ownership that had 141k StarOptions would cost around $50k....I don't know... Maybe I'm looking at it completely wrong.
 

vacationhopeful

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BUY resale ... like at the Key West or Bella section of Vistana ... a mandatory transfer of points & usage to a resale buyer.

One of the AZ resort is also mandatory transfer of points to the new resale buyer.
 

Yankeefan8980

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BUY resale ... like at the Key West or Bella section of Vistana ... a mandatory transfer of points & usage to a resale buyer.

One of the AZ resort is also mandatory transfer of points to the new resale buyer.

I guess I don't understand the terms mandatory transfer... Sorry... In a rookie here :)
 

Yankeefan8980

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... And I might add that the 141k StarOptions... My maintenance fees would only be $1800... I've just been looking on EBay... And to get that many staroptions...I could be looking at maintenance fees around $3000 per year
 

Ken555

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... And I might add that the 141k StarOptions... My maintenance fees would only be $1800... I've just been looking on EBay... And to get that many staroptions...I could be looking at maintenance fees around $3000 per year


Lots of ways of doing this for less. Rescind while you can.

Best long term value is platinum WKV (148,100, not 141,000...not sure where that number is from but it's an odd amount for the program). WKV is now ~$17-19k for the deed and ~$1550 per year in MF.

Short term value is SVV (the mandatory phases only) which is much less expensive (~$100-3000) but slightly higher MF for less SOs.

If any of this post confuses you then you should simply rescind and then take your time in reading this forum thoroughly (especially the FAQ) before making another purchase. Regardless what the sales staff says, you will always be able to get the same deal you did in the future.


Sent from my iPad
 

czar

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If you got a great "valuable" week (e.g., Maui) then it would be a different issue but my guess is that you've now got two SVV weeks that aren't mandatory so resale is $0. While the voluntary resorts in Orlando have lower MF, you should be able to get mandatory resales with 81k SO for 1/20 the price and only slightly higher MF and the likely ability to resell later.

Hello all:
I had a resale for Vistana Resort that I purchased on eBay!
Went through the "Owners Update" this past Monday and was convinced (not yet sure if fortunately or unfortunately) to purchase from the developer and they would bring my resale into the SVN network. I now have a total package of 141,000 StarOptions for a $20k purchase... Been reading this site a bit and wish I would have found it sooner! Thoughts? Should I rescind?
 

Yankeefan8980

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If you got a great "valuable" week (e.g., Maui) then it would be a different issue but my guess is that you've now got two SVV weeks that aren't mandatory so resale is $0. While the voluntary resorts in Orlando have lower MF, you should be able to get mandatory resales with 81k SO for 1/20 the price and only slightly higher MF and the likely ability to resell later.

Where would I find these mandatory resales for 1/20 of the price... I've been looking on ebay and although I could get some of them for around $5k... The maintenance fees I would be paying, would be close to double what I do now
 

Markus

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Another option

Another option for you to consider, if you are looking for Staroptions, which is a very good strategy in my opinion, as you could be in SVN and exchange within the network, is to sell or give away your SV week, eliminating those maintenance fees, and purchase a Westin Kierland annual platinum week resale, worth 148,100 options per year with maintenance fees of $1,450'per year. This will cost between $17,000 and $20,000. The other nice part is if in a year you do not use this 2 bed lock off, you can rent it, for up to $4,000 for the week.

Markus
 

tschwa2

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... And I might add that the 141k StarOptions... My maintenance fees would only be $1800... I've just been looking on EBay... And to get that many staroptions...I could be looking at maintenance fees around $3000 per year

What resorts do you now own and which seasons?
 

Yankeefan8980

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Another option for you to consider, if you are looking for Staroptions, which is a very good strategy in my opinion, as you could be in SVN and exchange within the network, is to sell or give away your SV week, eliminating those maintenance fees, and purchase a Westin Kierland annual platinum week resale, worth 148,100 options per year with maintenance fees of $1,450'per year. This will cost between $17,000 and $20,000. The other nice part is if in a year you do not use this 2 bed lock off, you can rent it, for up to $4,000 for the week.

Markus

My biggest issue with that is... What to do with my deeded week outside of the SVN network. With the changes coming with Marriot...I was told (whether true our not) that resales won't be brought back into the network in the near future
 

tschwa2

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My original week is a deeded week with Vistana Resort in the high season... Nothing spectacular from what I've read
I'm trying to figure what you now own that gives you 141,000 Staroptions with a MF of $1800. Typically for $20,000 retail you aren't going to get an annual week with a decent point to MF ratio for the price.
 

Ken555

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My biggest issue with that is... What to do with my deeded week outside of the SVN network. With the changes coming with Marriot...I was told (whether true our not) that resales won't be brought back into the network in the near future


Marriot is buying the hotel group, not the timeshare division. Starwoods timeshare group is being bought by Interval.

Don't get confused.

Rescind now, then research.

If you have the time, just read threads in this forum with similar subjects and you'll see the same good advice over and over again. It doesn't change. Your situation is not unique.


Sent from my iPad
 

Yankeefan8980

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I'm trying to figure what you now own that gives you 141,000 Staroptions with a MF of $1800. Typically for $20,000 retail you aren't going to get an annual week with a decent point to MF ratio for the price.

They requalified my resale (Vistana float high season) at an 81k StarOptions after purchasing a $20k, 60k staroptions
 

Yankeefan8980

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Marriot is buying the hotel group, not the timeshare division. Starwoods timeshare group is being bought by Interval.

Don't get confused.

Rescind now, then research.

If you have the time, just read threads in this forum with similar subjects and you'll see the same good advice over and over again. It doesn't change. Your situation is not unique.


Sent from my iPad

I'm sure it isn't unique... I'm just trying to understand the logic is all.
 

Ken555

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I'm sure it isn't unique... I'm just trying to understand the logic is all.


That's why we suggest you read the FAQ in this forum thoroughly and then ask questions. But before you do so, it's usually best to rescind. If you wait too long and are out of the rescind period, you'll likely regret it. Follow the rescind instructions exactly (much info on that in this forum, too) and then come back and ask questions.


Sent from my iPad
 

okwiater

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The logic is that you paid $20k for 60,000 StarOptions (Sheraton Flex?) which will be worth close to $0 resale. You now have a total of only 141,000 StarOptions which isn't enough for a week in a 2-bedroom at the top tier properties. You could/should rescind and spend that $20k on a resale WKV Platinum Plus which comes with 148,100 StarOptions and is much more likely to still be worth $20k resale after you're done using it.

Trust me... I own 1.2 million StarOptions and of those I made a couple of strategic purchases from the developer. But I started with a resale WKV Platinum Plus just like I recommended that you do.
 

vacationtime1

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Re-read Ken55's post #7 above; it is excellent advice.

You should definitely rescind while you can. There is no reason for you to make a spending decision of this magnitude until you completely understand your options.

The stickeys at the top of this Starwood board are an excellent place to start.
 

Yankeefan8980

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The logic is that you paid $20k for 60,000 StarOptions (Sheraton Flex?) which will be worth close to $0 resale. You now have a total of only 141,000 StarOptions which isn't enough for a week in a 2-bedroom at the top tier properties. You could/should rescind and spend that $20k on a resale WKV Platinum Plus which comes with 148,100 StarOptions and is much more likely to still be worth $20k resale after you're done using it.

Trust me... I own 1.2 million StarOptions and of those I made a couple of strategic purchases from the developer. But I started with a resale WKV Platinum Plus just like I recommended that you do.

Yes... Sheraton Flex...I get what you are saying though about the resale value... Makes sense
 

dsmrp

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I was in a similar situation a few years ago, and we bought a developer unit to retro our other unit in. We're okay with what we did, but would have been better for us to buy at Kierland, Phoenix, as we're on the west coast too.
Rescind, and wait until the dust settles with the ILG purchase of Starwood vacation network (SVN). Or buy Kierland resale and trade your Vistana unit in II.
 

lizap

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The 'dust may not settle' for quite a while after the 2016 second quarter acquisition date. II purchased Hyatt a while back, and so far, no changes, except we were all upgraded to gold.



I was in a similar situation a few years ago, and we bought a developer unit to retro our other unit in. We're okay with what we did, but would have been better for us to buy at Kierland, Phoenix, as we're on the west coast too.
Rescind, and wait until the dust settles with the ILG purchase of Starwood vacation network (SVN). Or buy Kierland resale and trade your Vistana unit in II.
 

Yankeefan8980

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The 'dust may not settle' for quite a while after the 2016 second quarter acquisition date. II purchased Hyatt a while back, and so far, no changes, except we were all upgraded to gold.

My biggest issue that I have is what to do with my existing high season floater at Vistana and getting it in the network. I DO understand that you can get a better price for the same StarOptions via resale... But then I'm still stuck with a week outside the network. Ugh... Decisions decisions... My ten day window ends this coming Thursday and I'm still on vacation here till Friday
 
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