What happens to seller's existing reservation when a timeshare is sold?

[skibummer]

I am purchasing a Westin timeshare from the original owner and they have an existing reservation in December 2021 that they want to still use. The closing should go through in August of this year. I am not getting first use until 2022. Will the seller's existing reservation transfer over with the change in ownership? If not, what happens to their existing reservation? It is my understanding that any points they have not used do not remain with them nor do they transfer over to me.

 

[rcv82]

I am purchasing a Westin timeshare from the original owner and they have an existing reservation in December 2021 that they want to still use. The closing should go through in August of this year. I am not getting first use until 2022. Will the seller's existing reservation transfer over with the change in ownership? If not, what happens to their existing reservation? It is my understanding that any points they have not used do not remain with them nor do they transfer over to me.

The default is that the reservations should transfer to you and you will get a confirmation for it. If that happens for this year, then you will need to put the prior owners name on the reservation. If the terms of this were spelled out in the closing documents, perhaps you won’t need to do this.

Which resort did you purchase? Banked StarOptions won’t transfer, but unused 2021 usage should. I have bought a few resales early in the year, and I’ve always been able to use the remaining years usage no problem. If it’s a voluntary resort and a week has been broken up, I’m mot sure what they will do with that. But if there is a whole unit week unused it should transfer no problem. If mandatory you can make either home week or StarOption reservations. If voluntary only whole weeks (or HomeOptions for flex and a few other resorts).


Sent from my iPad using Tapatalk

 

[tschwa2]

I am purchasing a Westin timeshare from the original owner and they have an existing reservation in December 2021 that they want to still use. The closing should go through in August of this year. I am not getting first use until 2022. Will the seller's existing reservation transfer over with the change in ownership? If not, what happens to their existing reservation? It is my understanding that any points they have not used do not remain with them nor do they transfer over to me.

Is it a mandatory or voluntary resort?

 

[skibummer]

All of my resorts have been purchased resale and other than our Westin Lagunamar properties are all mandatory. We visit WLR at least once or twice a year. I purchased a couple of 2 Bdr annual voluntary resort platinum seasons (148,100 each) for very cheap (<$1000 total) and negotiated in writing that Vistana/Marriot waive ROFR on them and then are requalifying my existing resales and new resale voluntary purchases to go from zero to 5* as part my transaction to purchase an EOY Westin Nanea (no closing, discounted COVID purchase rate and zero interest for 18 months and extra Bonvoy points over normal offer). All in with all properties (resale and the single developer purchase) I will be 5* with almost 900,000 annual SO for around $65K. It was the recent deal where you can requalify a resale for $10k new money for the first VOI and then $5k for each subsequent. I reach Bonvoy Titanium with just TS stays and that makes it nice with the suite upgrades and club floors when we stay at a Marriott or a Ritz property. I crunched the numbers for over a week and it made financial sense for us. YMMV. Literally almost every owners update we would go to the smart ones would come out with our stack of only resales and basically say “Here’s your gift card and have a good day, we can do nothing for you.”

 

[tschwa2]

I am still confused. Are you currently closing but not complete on your deal with Vistana and making this other purchase that still hasn't closed at the same time? And your deal specifically says any new resales (that have already begun or from now until eternity?) will automatically be retro'ed into a developer purchase.

 

[skibummer]

I negotiated the terms of the deal but then waited to sign the paperwork until I located and had under contract the additional 2 voluntary resales and they put in writing I had through the end of the year to add the two additional resale voluntary purchases should those 2 resale deals had fallen through, and also they agreed in writing to waive ROFR on the 2 voluntary resales I was closing on as part of the transaction (which they would have never done for the price I got them for). It was a pretty complicated transaction and all in writing from corporate not just the salesperson.

 

[tschwa2]

Then as mentioned as long as the reservation was made with this years points and is for this year it should transfer. If it is for next year using next years points it should also transfer as long as the usage for each of the use years is specified in the contract to you and not to the seller (assuming he still has a VSN account). I would probably have the seller put your name as a guest on those reservations just in case if you can. If it uses borrowed or banked points then the reservations probably won't transfer.

 

[skibummer]

Thanks for the info. That is correct, the seller is wanting to use their existing reservation in 2021 and I do not take usage until 2022.

 

[controller1]

All of my resorts have been purchased resale and other than our Westin Lagunamar properties are all mandatory.

Your info shows you own 4 weeks of Westin Mission Hills. That is not a mandatory resort.


Resorts OwnedWKV x4 (Scottsdale)
WLR x2 (Cancun)
SVV-Bella x2 (Orlando)
WMH x4 (Palm Springs)
WNORVK (Maui)

 

[skibummer]

Correct. Prior to purchasing and filing closing paperwork for my 2 resale WMH (voluntary) I am requalifying, all were mandatory except my 2 WLR. Once they are requalified along with my WLR units they will all come with SO (inclusive of my WMH and WLR both purchased as resales), and also 5*. There was confusion from the seller on whether their 2021 res would carry over automatically or not once the ownership titling is changed.

 

[skibummer]

Typo noted, correct on 2 WMH that are voluntary resale and will stay voluntary, but due to the requal part of developer purchase will now come with SO and 5*.

 

[frank808]

Totally confused by skibummer posts.

Did you requalify 2 wmh and 2 wlr properties? Or did did you requalify 4 wmh and 2 wlr properties?

I am not a vistana owner. I know wmh is a voluntary resort. Is wlr a voluntary resort also? I saw wmh available resale for less than $1k all in on ebay.

Sent from my SM-T290 using Tapatalk

 

[skibummer]

2WMH, 2WLR and larger SVV for the 5 requal properties along with Westin Nanea purchase to reach 5* elite. Negotiated waiving ROFR on the WMH properties to get them cheap and not taken by Vistana/Marriott. My resales were via Ebay, resale liquidators or multi-week deals from original owners. Take your time, you can find the stuff cheap. The fall and winter as people are thinking about upcoming MFs for the following year is a good time to look. Nice thing about buying multiple weeks at the same time from one owner is a single closing cost.

 

[divenski]

If a reservation carries over to a new owner, is it the case that it can be cancelled, modified etc? IOW, does the new owner have full control over it as if they had made it themselves? I think the answer is yes, but want to confirm. I'm in escrow for a week with an early 2022 res that I plan to move to late 2022.

 

[rcv82]

If a reservation carries over to a new owner, is it the case that it can be cancelled, modified etc? IOW, does the new owner have full control over it as if they had made it themselves? I think the answer is yes, but want to confirm. I'm in escrow for a week with an early 2022 res that I plan to move to late 2022.

Yes. I’ve done this twice and modified the reservations in both cases. One was a voluntary resale (SMV) and another was WKORV. In both cases the reservations were full week home reservations, and in the case of SMV the reservation was only about a month after closing. I’m not sure what would have happened if the SMV seller had been in network and with a StarOptions reservation.


Sent from my iPhone using Tapatalk