• A few of the most common links here on the forums for newbies and guests!
  • The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 31 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 31st anniversary: Happy 31st Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $24,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $24 Million dollars
  • Sign up to get the TUG Newsletter for free!

    Tens of thousands of subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!
  • The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!

resale vs. buying from developer

D

debf

newbie
Joined
Jul 9, 2007
Messages
2
Reaction score
0
Location
San Diego
I would like some clarification of the topic of buying on the resale market vs. directly from Starwood. I am interested in owning at WKORV/N. I know that I can save a lot of money by buying a resale unit. However, if I buy a resale, will I be able to use StarOptions (148,100) at all of the resorts in the SVN? If new resorts are developed in the future, will I be able to book into those or only the resorts included in the network at the time I purchased the resale unit. My sales rep said that I would not have access to future developed resorts if I bought resale. I was also told by the sales reps at WKOVR that if you try to by a resale unit and the price is below "market value", then Starwood has a 10 day window with the right to purchase it and then they would re-sell it. It seems as thought there are plenty of resale units being offered. How easy is it to buy one at WKOVR/N? What is the recommended procedure so that I get to use the StarOptions? Sorry for all of the questions, but we just bought last week from Starwood in Maui and I am considering rescinding the offer to buy a resale instead. Need advice!
 
buy resale.... you can use your points at the other westin villa resorts, but you can't convert to hotel points. that isnt a big deal, as the resale savings is huge. they do have right of first refusal (ROFR), so they MIGHT snatch up a unit at a stupid low price, but right now the market is above the price that westin will move in at.
 
Last edited:
Correct me if I'm wrong, but I believe WKORVN is a non-mandatory resort, so the resale buyer can not use StarOptions - unlike WKORV, which is mandatory.
 
I'm pretty sure that WKORV-N is mandatory. WPORV is non-mandatory.
 
I have not heard of Starwood buying back a single WKORV resale purchase, and some of the prices I have heard about have been low. I don't think you will have ROFR to worry about, and if by some fluke it got taken, well, there are hundreds more on the resale market. Now, for WKORV-N, I have not seen that many intervals for sale yet, but I'm sure they are coming. The resort will open soon and owners will start selling.

A resale at WKORV-N should come with Staroptions to exchange within SVN. You would lose your Starpoint conversion option and any Starpoint incentives (obviously).

You asked about OF rental prices on another thread. Are you looking for an OF or OV or IV at WKORV-N?
 
As long as you buy at a mandatory resort (WKORV and WKORV-N are both mandatory) you will have Staroptions and be able to do Starwood exchanges for all SVN resorts. Sales people aren't going to tell you this, if they did, who would pay their high prices? As DeniseL said, we've never heard of Starwood exercising ROFR and even if they do, it costs you nothing.

If I were you I would also consider resales at the original WKORV - I think you could buy a WKORV resale for less and the resorts are side-by-side and share all the amenities. Owners at WKORV can use all the amenities at WKORV-N - in fact, the owners of the two resorts own the exterior property jointly. Except for the foyers, the units and decor are nearly identical.

I'm glad you are thinking about rescinding, but timing is of the essence. If you wait too long, you won't be able to. Rescind, and then you can do your homework and take your time to make the right purchase for you.
 
WKORV-N is SVN Mandatory (like WKORV).
{this has been addressed previously}

WPORV is SVN Voluntary.

Rescind - it is a no-brainer.
 
Why are some resorts mandatory and others voluntary? I really do not understand why all SVN properties are not one way or the other.

Can anyone give me the simplistic version of why they are listed one way or the other.
 
Rescind, rescind, rescind!!

I picked up our OF WKORV-N unit for $20k less than the owners who bought directly from the developer. If the alleged price increase has gone through, you'll save even more.

Unfortunately inventory at the new resort is not very big at this point; in fact we're still in escrow because the original owner still hasn't gotten her deed from Starwood so that she can transfer it to me.

I bought my unit from SellMyTimeshareNow. I also like MyResortNetwork.com.
 
You must log in or register to reply here.
Top