Using Previous Owner to Reserve Weeks Pending Resale Closure

[tstiv1996]

I bought at SVV-Bella this summer. The Closing Process is moving rather slow. I have a recorded deed approved by the county, and now the paperwork is in vistanas queue to confirm my ownership on their end. They have had the paperwork since 14 July. My issue is, I am planning a vacation to the Westin Princeville on 5 May 2022, meaning my reservation window opens 5 September 2021. As of now, The ownership on Vistana's end is still in the name of the Seller.

So my question is this. If my ownership and title transfer do not get processed this week, can I ask the seller to make that reservation for me? Will that transfer with the contract once Vistana puts it my name? Do we think Im too far in the transfer process to do this??

Any help here would be greatly appreciated!

Thank you

 

[Denise L]

I bought a resale Westin Ka'anapali in 2020 and asked the broker to reserve a week for me early in the process, and it was written somewhere that the reserved week would be transferred with the sale. Is there an agent involved that you can ask?

 

[tstiv1996]

I bought a resale Westin Ka'anapali in 2020 and asked the broker to reserve a week for me early in the process, and it was written somewhere that the reserved week would be transferred with the sale. Is there an agent involved that you can ask?

I can try, hard to get anything in writing at this point as the reservation window doesn’t open till Sunday and the process is out of the agents hands now.

I’m guessing, since Vistana still reconginzes the seller as the owner on the contract, they could still go in and make the reservation, just makes me nervous, I don’t want to mess anything up.

It’s good to know it worked for you though, just much earlier. I’ll reach out to my broker to see if they have any experience here, unless someone else advises otherwise.

 

[wjarcher]

Looks like you are making reservations using staroptions. I don't think it can be transferred, neither the staroptions (say the seller had banked ones) nor reservation made using the staroptions. The best bet would be to wait for the transfer to be completed.

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[byeloe]

I can try, hard to get anything in writing at this point as the reservation window doesn’t open till Sunday and the process is out of the agents hands now.

I’m guessing, since Vistana still reconginzes the seller as the owner on the contract, they could still go in and make the reservation, just makes me nervous, I don’t want to mess anything up.

It’s good to know it worked for you though, just much earlier. I’ll reach out to my broker to see if they have any experience here, unless someone else advises otherwise.

Do you know if the seller has other VOI's within the system?
If they are not closing their vistana account with this sale, then they could make the reservation and a subsequent name change to you. There may be a fee for the name change. But you would have a confirmed booking

 

[tstiv1996]

Do you know if the seller has other VOI's within the system?
If they are not closing their vistana account with this sale, then they could make the reservation and a subsequent name change to you. There may be a fee for the name change. But you would have a confirmed booking

Not sure, however I just got off the phone with my broker and he said he's confident we can make the reservation with the seller and change the name and it will transfer with the title. However based on the comment by @wjarcher it makes me a little nervous as it is a SO reservation, I don't want to mess anything up. I gave the broker all the details and he has already coordinated with the seller to make the reservation if we are not closed with Vistana by the opening of the reservation window. So I have about 5 days to change my mind if anyone strongly advises against doing this.

Princeville is not nearly as competitive as WKV or Nanea, so I should have a couple weeks of slack before things get too dicey, that said, its always best to be right on time for views and of course peace of mind.

 

[djohn06]

I've got you beat by 1 week. Marriot's had my info since July 7.

Resales are going extremely slow. I completed 3 of these earlier in the year and it did not take 2 months for Marriott to close once they received final paperwork.

I confirmed on 9/2 with Marriott my new contract is in my name. However, room or the star options for 2022 aren't linked in my account yet. So as of today, I still cannot make a reservation.

Please let us know if they transfer your 2022 reservation to your name using Star Options. I found out the hard way this year that partial star options won't transfer. My broker should have known this, but did not.

 

[tstiv1996]

I've got you beat by 1 week. Marriot's had my info since July 7.

Resales are going extremely slow. I completed 3 of these earlier in the year and it did not take 2 months for Marriott to close once they received final paperwork.

I confirmed on 9/2 with Marriott my new contract is in my name. However, room or the star options for 2022 aren't linked in my account yet. So as of today, I still cannot make a reservation.

Please let us know if they transfer your 2022 reservation to your name using Star Options. I found out the hard way this year that partial star options won't transfer. My broker should have known this, but did not.

what do you mean by this?

Today, the seller is planning to make the reservation and change the name (I am reimbursing him the fee) so the reservation will always be in my name not his. I’ll be using all but 1000 SO with this reservation, so I don’t really care if they don’t come along with it as long as I have a reservation in my name on the date I want it. Does this seem safe?

 

[djohn06]

what do you mean by this?

Today, the seller is planning to make the reservation and change the name (I am reimbursing him the fee) so the reservation will always be in my name not his. I’ll be using all but 1000 SO with this reservation, so I don’t really care if they don’t come along with it as long as I have a reservation in my name on the date I want it. Does this seem safe?

I would make sure the reservation is there after closing. If you are reimbursing the seller for maint fees, just make sure that your escrow agent can send funds after you have confirmed the reservation is still in your name post closing.