Sheraton/Westin Flex - in Rescission Period, Advice Needed Please

[johnbee]

Hi looking for a little advice. I signed yesterday and am in rescission period so doing my homework now.

Purchased: 44 000 points for about $10k in the Flex Plan, they threw in 80 000 Starwood points. Biannual, $500 maintenance fees.

I was attracted to the 12 month reservation option for multiple resorts. I'm done some initial resale research and it looks like I could maybe get something similar for $5-8k but still early on that research so thought I'd reach out to the smart people on this site.

There is also some appeal to the optional 2 cents/Starwood point offers they are adding in (you can buy large increments over the next two years as an option to supplement nights/stays).

Any thoughts appreciated.

Thanks.

 

[vacationtime1]

Rescind.

44000 points will get you a one bedroom unit every other year during shoulder season.

Flex Options have little or no resale value.

There are better alternatives available on the secondary market -- and for less than the $5-8K you have seen to date. But rescind now and then continue your research.

Make sure you follow the rescission instructions to the letter and that everyone who signed the purchase contract also signs the rescission letter.

 

[johnbee]

Rescind.

44000 points will get you a one bedroom unit every other year during shoulder season.

Flex Options have little or no resale value.

There are better alternatives available on the secondary market -- and for less than the $5-8K you have seen to date. But rescind now and then continue your research.

Make sure you follow the rescission instructions to the letter and that everyone who signed the purchase contract also signs the rescission letter.

Thanks for the reply Robert. We bought peak season/Platinum Plus (I think it was called) so we could travel xmas/march break and get the 12 month advance reservation. Assuming I'm accurate, is it safe to say this would not affect your recommendation?

Thanks.

 

[Maui_ed]

Thanks for the reply Robert. We bought peak season/Platinum Plus (I think it was called) so we could travel xmas/march break and get the 12 month advance reservation. Assuming I'm accurate, is it safe to say this would not affect your recommendation?

Thanks.

44,000 StarOptions doesn't sound like Platinum Plus. Can you confirm?

 

[johnbee]

Ok confirming. Also curious why Flex Options seem to be lower value than Star Options on the resale market? My impression was there was no downside - I can still get into other resorts but I have priority access (12 months vs. 8 months) to the resorts that are part of the group here:
https://www.vistana.com/westin-flex. It seems I'm missing something here?

 

[johnbee]

44,000 StarOptions doesn't sound like Platinum Plus. Can you confirm?

There's also some appeal to being able to buy Starpoints at 2 cents each which they are offering as a 'bonus' so I got swayed a little by the Flex appeal, 80 000 Starpoints plus the option to buy more at 2 cents each to top up stays or apply to flights.

 

[johnbee]

There's also some appeal to being able to buy Starpoints at 2 cents each which they are offering as a 'bonus' so I got swayed a little by the Flex appeal, 80 000 Starpoints plus the option to buy more at 2 cents each to top up stays or apply to flights.

So I just spoke with the salesperson, and apparently I have no category per se...the points allocation was based on Platinum Plus season rates which vary Monday - Thursday, weekends, etc. My 44 000 points in theory would get me four nights in a Premium One Bedroom during the week over March break for example, or in Hawaii before xmas break. Not sure if that changes anything in addition to my previous comments about the Starpoints allocations. Thanks again.

 

[VacationForever]

There is also a difference in Sheraton Flex vs. Westin Flex. If you bought Sheraton Flex you have no access to Westin properties like the ones in Maui, Princeville (Kaui) or Westin Lagunamar. 44,000 gets you almost nothing (small room, few nights) and you pay a fairly hefty price for it.

 

[dioxide45]

44,000 will get you a week in a 1BR during Platinum season in Orlando. Being every other year, that means you will pay $1000 for a 1BR unit every second year. That $500 per year may also not include the VSN fee.

 

[vacationtime1]

So you're paying $10,000 to buy four nights in a one bedroom unit every other year at the resorts you want to visit -- and you still have to pay maintenance fees?

The StarPoints and options to purchase StarPoints are worth a couple thousand dollars, but I don't see what you are getting for the balance of your $10,000.

I would rescind and then research resales.

 

[DeniseM]

+1 RESCIND!

 

[dioxide45]

Someone is trying to give away 50,000 Annual Flex Options in the Bargain Deals forum. This show the resale value, none. Definitely rescind and look at a resale mandatory week.

 

[controller1]

@johnbee , not sure where you are located but you mention you could stay 4 days in a one-bedroom in Hawaii. Flights to Hawaii are not cheap. I would not want to pay what the airlines charge to only have four nights. Rescind.

 

[cubigbird]

+1 Rescind

I am in the process of closing on a Mandatory Westin Kierland 81,000 options and I am getting it FOR FREE. I am paying NOTHING for it, not even the closing costs - the seller is paying them!! Would you rather pay $10k for 44,000 options or NOTHING for 81,000 options??

If Flex is what you want, there are often contracts that you can “adopt” for free. Hang around TUG and look on EBay or Redweek and you’ll find them.

Rescind while you can, plant your feet back on the ground, and do some research. If you want to do it later, you can.

 

[KACTravels]

Hi looking for a little advice.... thought I'd reach out to the smart people on this site.

I’m pretty confident that “the smart people on this site” will all tell you to RECIND, research, Resale.
Congratulations on finding this site!

 

[Ken555]

Rescind. ‘nuff said.


Sent from my iPad using Tapatalk

 

[Panina]

Hi looking for a little advice. I signed yesterday and am in rescission period so doing my homework now.

Purchased: 44 000 points for about $10k in the Flex Plan, they threw in 80 000 Starwood points. Biannual, $500 maintenance fees.

I was attracted to the 12 month reservation option for multiple resorts. I'm done some initial resale research and it looks like I could maybe get something similar for $5-8k but still early on that research so thought I'd reach out to the smart people on this site.

There is also some appeal to the optional 2 cents/Starwood point offers they are adding in (you can buy large increments over the next two years as an option to supplement nights/stays).

Any thoughts appreciated.

Thanks.

Rescind and save your money. Welcome to tug, stick around and you will learn lots to help you make an informed decision if you decide to pursue timesharing with a resale. You are fortunate you found us in time to rescind, many do not.

 

[duke]

[QUOTE="cubigbird, post: 2156156, member: 67993 plant your feet back on the ground.[/QUOTE]
+1

 

[burakol1101]

Did you do it???

We are actually here right now at Vistana, staying at a 2bdrm villa via our RCI account. Was lured to sign a VSE contract 3 days ago... FLEX with 37000 points for a whopping 13k purchase price... annual M/F of $709. We heard the same incentives as yours... 50,000 bonus SPG points, lifetime gold SPG status, ability to buy more SPG starpoints for 2cents... and today, visited the post office and RESCINDED!

Did our research and here's simple Math that helped us with our final decision:

With 37,000pts/yr., to be able to reserve a 2br unit again (on a season we travel for 1 full wk) we will need atleast 81,700pts... That's an equivalent of 2.5 yrs entitlement incurring a total cost of $ = (204/mo amortization x 30 months) + (709/yr maintenance fee x 2 yrs) + (99/yr points extension fee x 2).

Hotels.com price... for the same resort and the same villa, 1 wk vacation for half the price...



Sent from my SM-G955U using Tapatalk

 

[vacationtime1]

Did you do it???

We are actually here right now at Vistana, staying at a 2bdrm villa via our RCI account. Was lured to sign a VSE contract 3 days ago... FLEX with 37000 points for a whopping 13k purchase price... annual M/F of $709. We heard the same incentives as yours... 50,000 bonus SPG points, lifetime gold SPG status, ability to buy more SPG starpoints for 2cents... and today, visited the post office and RESCINDED!

Did our research and here's simple Math that helped us with our final decision:

With 37,000pts/yr., to be able to reserve a 2br unit again (on a season we travel for 1 full wk) we will need atleast 81,700pts... That's an equivalent of 2.5 yrs entitlement incurring a total cost of $ = (204/mo amortization x 30 months) + (709/yr maintenance fee x 2 yrs) + (99/yr points extension fee x 2).

Hotels.com price... for the same resort and the same villa, 1 wk vacation for half the price...

Sent from my SM-G955U using Tapatalk

Or you can buy an SVV unit (Bella or Key West phases only) that has the 81000 annual StarOptions you need.

Cost: about $1,000, often less; MF's: about $1,100 annually + $140 VSE fee.

 

[burakol1101]

Or you can buy an SVV unit (Bella or Key West phases only) that has the 81000 annual StarOptions you need.

Cost: about $1,000, often less; MF's: about $1,100 annually + $140 VSE fee.

From where? Direct from the developer or a resell? They did not offer any of this kind when we signed...

My wife and I have been reading alot about Vistana these past three days... we really love the product and the idea of using their home resorts, but we also know that we can get more for our money and rescinding is the best option for now.

My wife and I really need to learn more... hopefully with the merger, there comes a better ownership opportunity...

Sent from my SM-G955U using Tapatalk

 

[burakol1101]

Deleted repost.

 

[dioxide45]

Or you can buy an SVV unit (Bella or Key West phases only) that has the 81000 annual StarOptions you need.

Cost: about $1,000, often less; MF's: about $1,100 annually + $140 VSE fee.

It is getting harder and harder to find 2BR Prime SVV 81K units for $1000. One recently sold on eBay for about $1500 and required the buyer to reimburse 2018 MFs and pay $375 closing costs. I am afraid that us talking them up is driving up the prices.

 

[burakol1101]

just looked at redweek and all listing are floating but one... does it really make a huge difference if you have a fixed week vs. a floating week if you are getting a good amount of StarOptions that would cover the stay during peak season? Am I correct to say that the significant difference will be on the availability of the unit?

 

[taterhed]

So, here's my advice:

• Enjoy your vacation.....this is a learning process and takes a little bit of study and 'deep contemplation' to figure out what you want/need/can afford. Don't do it on vacation or over a 'few six packs' of beverage
• Rescind now....you're unsure, uneducated and most certainly paying too much for too little. Follow the instructions carefully and take advantage of this 'one time deal' to cancel the contract
• Breath for a few days....and come back to tug and learn what's right for you. Take the newbie survey (below) and let the TUG family give you some sage advice
• Before searching for something to buy.....read some of the stickies and FAQ's (New to Timesharing!) and get some basic facts before you start shopping

Welcome to TUG!

'What to buy?' survey. Answer the questions as honestly and completely as possible. Then, wait for advice and answers!