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Westgate Park City questions

tschwa2

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Wow that sounds like a full price for resale and they still exercised ROFR. Must be pretty bullish on their prospect to resell it at retail!
A 4BR week 7 retail would be $85,000-$100,000.
 

grupp

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Wow that sounds like a full price for resale and they still exercised ROFR. Must be pretty bullish on their prospect to resell it at retail!
I was not surprised at all. It a very big unit over around 2150 square feet with a private hot tub on the deck. Most resale 2br week 7‘s are listed around the same price, but I have no idea what they actually sell for, so is probably less than that. Would have been a awesome unit to own and I planned on renting it out for now and using when I retired to bring kids/grandkids. Best that it is a fixed week, wouldn’t have to fight with Westgate to reserve the week.
 

Marathoner

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I was trying to buy a 4 br fixed week 7 at Westgate Park city but they decided to exercise their ROFR. Price was just under $35,000.
FYI - 2BR fixed week 7 at Marriott Mountainside go for 35K resale. So, 4BR fixed week 7 at Westgate for 35k would have been a great price. Too good, as it turns out.
 

grupp

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I did have a conversation a real estate agent that is very familiar with Westgate Park City in regard to restrictions on booking reservations on resale weeks. What she told me was that anything purchased from Westgate after 2009 is will have resale restrictions. I did research the sales history of the 2br week I purchased last year and found out it was sold by Westgate in 2004. It had changed hands number of times over the years, but all through the real market and should not be subject to any restrictions on reserving. That may be why Westgate ultimately allowed me to reserve my 2022 week as I had requested to see the documents that restricted my ability to use my week. That is when owners services made a note on my ownership that I should be allowed to make my reservation.

So, if you are buying a week, you may want to check the sales history on the county website and see when it was sold by Westgate. The agent I spoke with seems to know quite a bite about Westgate Park City and said they do not list anything sold by Westgate after 2009.

I also did research the 4br week that Westgate took back on ROFR and see the original owners took out a $107,000 loan when they purchased the week back in 2003. Ouch!
 
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The Bear and Elk wings were all timeshares built in 2002 and sold out around 2006

The Bison and Moose were built around 2007 and were mixed timeshare and whole ownership
 

T-Dot-Traveller

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Thanks @grupp and @DazedandConfused.
Your posts add some real clarity on resale at WPC.

This thread remains one of the most accurately informative Westgate threads on TUG
And is at 2K views as of June 2021
 

grupp

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Thanks @grupp and @DazedandConfused.
Your posts add some real clarity on resale at WPC.

This thread remains one of the most accurately informative Westgate threads on TUG
And is at 2K views as of June 2021
Thank you, I am just trying to learn how to best use my ownership and sharing what I learn. Westgate Park City is a wonderful resort, but often dismissed because it is managed by Westgate with their efforts to limit benefits to resale owners.
 
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TS12345

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Hey - just heard that WG PC is stating they will levy a $2K Fee on top of MF for resale owners to use their FIXED deeded weeks from a friend who went to "owner's update". The "pitch" was to buy from them any unit officially so ANY other weeks become as if full (developer bought) ownerships. Is that possible? Anyone else hear? This would change our ownership considerably. THX-
 

grupp

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Hey - just heard that WG PC is stating they will levy a $2K Fee on top of MF for resale owners to use their FIXED deeded weeks from a friend who went to "owner's update". The "pitch" was to buy from them any unit officially so ANY other weeks become as if full (developer bought) ownerships. Is that possible? Anyone else hear? This would change our ownership considerably. THX-
Wanted to make sure I understand, you are saying they are going to charge a $2K fee to fixed week owners on top of the MF every year?
 

bnoble

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just heard that WG PC is stating they will levy a $2K Fee on top of MF for resale owners to use their FIXED deeded weeks from a friend who went to "owner's update". The "pitch" was to buy from them any unit officially so ANY other weeks become as if full (developer bought) ownerships. Is that possible? Anyone else hear? This would change our ownership considerably.
Timeshare sales agents are notorious for making up changes that are "just around the corner" that only a purchase today will solve. They are nearly always a bunch of malarkey.

Westgate sales agents are more notorious than average.
 

sng85

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I was trying to buy a 4 br fixed week 7 at Westgate Park city but they decided to exercise their ROFR. Price was just under $35,000.
After the posts in this thread I was encouraged to go for it on a Week 52 Westgate Park City, 1 bedroom.
Just learned that WG exercised ROFR on it.
 

grupp

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After the posts in this thread I was encouraged to go for it on a Week 52 Westgate Park City, 1 bedroom.
Just learned that WG exercised ROFR on it.
I have a 4br floating week in for ROFR and waiting to hear back. Seems like they are in the buying mode and suspect it will get taken as well, but should hear soon.
 

sng85

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I have a 4br floating week in for ROFR and waiting to hear back. Seems like they are in the buying mode and suspect it will get taken as well, but should hear soon.
Nice, good luck!
 

tschwa2

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After the posts in this thread I was encouraged to go for it on a Week 52 Westgate Park City, 1 bedroom.
Just learned that WG exercised ROFR on it.
My understanding was that both fixed weeks 7 and 51, 52 have always been high on WG target. They know they can sell them easily for big bucks so even when almost nothing was being ROFR'd those weeks were being taken back.
 

TS12345

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Wanted to make sure I understand, you are saying they are going to charge a $2K fee to fixed week owners on top of the MF every year?
Yes that is exactly correct - for a week 51, 2 BR FIXED.
 

DrQ

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Next time you go to an owner's update meeting, tell them how classy Jackie looked on Below Deck ... NOT
 

grupp

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Just found out that Westgate exercised the ROFR on the 4br floating ski season week at $25,000.
 
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