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Should we Cancel SVV 2bd 67,100 Bella?

D

darkfibre

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Feb 13, 2011
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Should we ancel SVV 2bd 67,100 Bella?

We are currently visiting at SVV and we really like the resort. We have 2 small kids and we've been discussing getting a timeshare in florida to escape winter. Orlando is perfect for us.

We went to the sales pitch and ended up buying 1 week Bella, 2bd (not lock off), floating, 67,100 Star Options, High Season, annual. They're selling them for $17,900 + $550 admin fee. It was listed at $19,990 but they had an "offer" on. Maintenance is $912 + tax + club membership. They claimed there was no room for negotiating.

We're really new to this and are concerned about the costs. Especially after reading through the TUG forum (awesome BTW)

Our concerns around the quality of Starwood have gone away. We personally enjoy Starwood hotels and have seen first hand the quality of the resorts. Generally we've read good things in the reviews from owners.

I know right in the FAQ for canceling your purchase it talks about how you can save 50-95%. I am concerned at the upfront costs

Are we just spending too much here?

Thanks,
 
darkfibre said:
We went to the sales pitch and ended up buying 1 week Bella, 2bd (not lock off), floating, 67,100 Star Options, High Season, annual. They're selling them for $17,900 + $550 admin fee. It was listed at $19,990 but they had an "offer" on. Maintenance is $912 + tax + club membership. They claimed there was no room for negotiating.
Click to expand...

Rescind. That same SVV Bella unit can be had for well under $2K on eBay right now...

SVV Bella is a mandatory resort, so membership in SVN follows a resale. So you still get the StarOptions, even if you don't buy from the developer.

There's almost no reason to buy from the developer directly right now unless you're planning on requalifying a resale with the new purchase.
 
Yes, you are spending way too much. Go ahead and rescind. You will rest easier for it.

elaine
 
Rescind! You can buy this same unit for less than $1,000 on Ebay.

I really like Starwood and have bought both retail and via ebay. You can use your staroptions if you buy resale at very few properties (but Bella is one of them). However, you cannot change those staroptions into starpoints. All starwood has starwood preference in II and are generally great traders.

So, buy Starwood if you like the brand and the properties, but do it resale, not retail.
 
I just checked completed listings on Ebay. The going price is $1 and some of the sales included prepaid maintenance fees for 2011. And closing costs. So the total price is $1.

To be fair, the price was higher if there were staroptions involved. Then the going rate was about $350 and you had to pay the closing costs and MFs.

elaine
 
Definitely rescind. Read the paperwork carefully and rescind in exactly the way the documents require (first class mail, certified mail, FedEx, or whatever).

I saw an 81,000 StarOption SVV unit (i.e. a two bedroom lockoff) sell for $1,732.99 on eBay within the past month. You can save over 90% on this by buying resale. Here is the link to that sale: http://cgi.ebay.com/81K-STAROPTIONS...20729244543?pt=Timeshares&hash=item33647cfb7f

Here is an active eBay listing for what you just bought; the "buy it now" price is $1,899, but you can almost certainly get it for even less: http://cgi.ebay.com/2BR-Sheraton-Vi...10646345616?pt=Timeshares&hash=item19c3093f90

Buying resale is a bit more work. You must do your own due diligence -- and you should have an independent escrow company to protect your interests. But as you can see, the savings are enormous.
 
Thanks all - that's what I needed.

we'll definitely join TUG and do some more homework before jumping in. We've been here for 7 days and we have another 3 ahead of us here at the resort. We signed up 3 days ago and it has been the only thing we've talked about which has taken up too much of our time.

I've just drafted the letter and will make copies and send in the morning.
 
When you do your research...

make sure to consider whether Orlando is really where you want to own. Orlando has a lot of availability so it is a fairly easy exchange. Depending on lots of factors (price, what is for sale when you're looking, cost of exchanging in whatever system you choose), you might opt to buy somewhere else.

Anita
 
darkfibre said:
Thanks all - that's what I needed.

we'll definitely join TUG and do some more homework before jumping in. We've been here for 7 days and we have another 3 ahead of us here at the resort. We signed up 3 days ago and it has been the only thing we've talked about which has taken up too much of our time.

I've just drafted the letter and will make copies and send in the morning.
Click to expand...

make sure you send it USPS certified mail. it just has to be postmarked within the specified timeframe.
 
I'm not sure I'd buy it even if I could get it cheap. 67100 Star Options doesn't ge very far in SVN. You're buying a 2 bedroom that's going to give you just enough for a studio or 1 bedroom elsewhere, unless you go off season.
 
My first and second purchases were both developer purchases in Orlando. I bought the first one while on a vacation to Walt Disney World from Disney Vacation Club. The second purchase I made was to add on to my first. I love Orlando and I have regularly used my time there. In fact, I still vacation there regularly.

With small children, I think that Orlando is a terrific place to vacation. It may be overbuilt, but it seems to me it is overbuilt with second class accomodations. And from what I have seen, the SVV is first class, so that MAY still be where you decide to purchase. It is easy to trade into.

This past year my husband and I traded into Orlando 3 separate times. And I had a fourth exchange that I gave to one of my employees. So, that is why some people do not recommend owning there.

Have fun doing your research. I spent the first year of my membership reading reviews of all of the timeshares here on TUG (a members only feature) so that I could decide which TS to buy next. It was lots of fun.

And you can ask lots of questions to make sure that you understand everything. And then, once you have made a decision on which TS, ask again to see if anything has changed so that you would make a different decision.

Take your time. There are hundreds of incredibly good deals out there.

elaine
 
K&PFitz said:
I'm not sure I'd buy it even if I could get it cheap. 67100 Star Options doesn't ge very far in SVN. You're buying a 2 bedroom that's going to give you just enough for a studio or 1 bedroom elsewhere, unless you go off season.
Click to expand...

You don't use the staroptions, just the Starwood preference in II to make the 2 BR exchanges. It was easy to get both Kauai and Maui with NO staroptions. And 2 bedrooms for both.

elaine
 
The problem is that SVV Bella has a relatively high maintenance fee-

Bella - 2 Bdm. - $1,021 + $119 SVN = $1,140 (And it's not a lock-off the lock-off is a couple hundred higher)

A 2 bdm. at SDO will trade just as well, if not better in II, and the MF is $232 less ($908.41.)

PLUS, it's a 2 bdm. lock-off, so for $908 - you can get 2 trades out of it, as opposed to one trade for $1,140 at SVV Bella.

I'd buy at SDO and trade into Orlando, and other locations, instead.
 
Has anyone ever exchanged into HRA in March or July with sdo using II? I got both with svn... It's very hard, but at least it can happen.

To "trade well" is not just about unit size... and high demand weeks are much more likely to be found on svn.
 
DanCali said:
Has anyone ever exchanged into HRA in March or July with sdo using II? I got both with svn... It's very hard, but at least it can happen.

To "trade well" is not just about unit size... and high demand weeks are much more likely to be found on svn.
Click to expand...

True - but only having 67,100 Staroptions really limits your options in the SVN as well. Either way - I think the OP can do better.
 
Last edited:
DeniseM said:
Either way - I think the OP can do better.
Click to expand...

Absolutely. The OP should rescind and figure out what works best for him and his family now that he knows there are other options. There is no reason to pay a $17K premium just for the option to convert to hotel points...
 
I bought recently a 3bd/lo at SVV for $2,000 and got 139,700 options to go with it. Look around and you will get what you want.
 
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