Resale question

[KevSki]

We are in the process to buy a mandatory Vistana Village Bella for cash. Does anyone know how long it takes for the process to complete? Do you think we will be able to use the unit or StarOptions in 2017? There is no week reserved by the owner in 2017.

 

[DeniseM]

The owner can make a reservation for you in your name NOW, and that is what I would recommend, because right now the Staroption reservation window is open through July 28th, and before that date, the pickings are getting slim.

The owner should call the title office and ask them to make sure the reservation in your name is not cancelled during the transfer.

 

[DavidnRobin]

Time to close? Depends on how clean the information is for VSE Title to process - if clean, not too long - 30-60 days?

Is SVV-Bella in high demand for reservations?
Are you more interested in SO? (those are at 8 months ahead)

DeniseM is right - getting a reservation ahead of time is a good idea if possible.

 

[Helios]

Also, it sounds like you would reserve a week that occurs after the unit is in your name. But, it would not hurt to indicate the 2017 will be assigned to the buyer and you could even add the resie number in the sales contract.

 

[dioxide45]

Closing time can depend on a lot of variables. If the seller is still involved, it can take a long time if they drag their feet and take a long time to sign and return documents. In other cases title may already be signed over just waiting for a buyer, so those can go faster. How attentive the closing agent is also makes a big difference. Vistana can then take a while to, but have been a little faster more recently.

We recently closed on two SVV purchases. The first, we signed the contract on 4/29 and Vistana had it in our names on 6/6. We are in the middle of the second one which we signed on 11/3 and the deed was just recorded on 11/23.

You won't have any problems using the 2017 StarOptions. However, if you want them for an early 2017 reservation you will need to have the seller make a reservation for you. If you want them for late in 2017, you can probably wait until the week is in your name.

 

[KevSki]

Thank you all for your responses. We're retired and pretty flexible when it comes to travel. We might just use the staroptions in 2017 and see what happens down the road. The closing company emailed me today saying 4-6 weeks for closing so it looks like sometime in January.

 

[DeniseM]

Just to clarify - the competition for the most popular resorts is fierce, so if you wait until Jan. to make a Staroption reservation, you will be shut out of many dates at resorts like Maui and Harborside. But if you can travel off-season, you should still be able to get something - especially fall 2017.

 

[KevSki]

Thanks Denise. We are most likely looking at off-season, most likely fall before ski season when the slopes take up our time