• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 30 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 30th anniversary: Happy 30th Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $21,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $21 Million dollars
  • Sign up to get the TUG Newsletter for free!

    60,000+ subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

What happens to this years star options when selling?

CPNY

TUG Member
Joined
Jun 18, 2019
Messages
7,612
Reaction score
4,477
Points
349
Resorts Owned
Harborside Resort at Atlantis
SVV - Key West/Bella
WKV
Regal Vista at Massanutten
so I posted my unit and two hours later I have an offer (I prob priced it too low). I posted it nowthinking it would take some time to get a buyer. I have a reservation using the star options at the end of march. The first usage is 2021. The buyer wanted to make sure the ownership was in their account by May so they can make a reservation using the star options for Jan (8 month window).

a few questions:
when should I begin the sales process to make sure I don’t lose my march reservation and it’s in their account by May?

If the sale and transfer goes through before my reservation, will the reservation go to the new owner even though it’s a combo of the options being sold and banked options from last year?

the buyer wanted title insurance, it’s a Florida deed, is title insurance really needed? What’s the best information to give them regarding title insurance?

this is the first time I’m selling, I’m usually a buyer, help is appreciated.
 

SandyPGravel

Guest
Joined
Aug 29, 2015
Messages
1,719
Reaction score
1,155
Points
223
Location
De Forest, Wisconsin
Resorts Owned
Westin St. John Plat+
2 BR-VGV
Westin St. John Plat
2 BR-BV
When I bought my WSJ in September I had the owner put the February reservation in my name before the process was complete.

You could ask the buyer if the process isn't complete by May would they be OK with you making the reservation for them.

My process was started in early September and was finished by the end of October IIRC. But that was prior to the merger of departments with Marriott.

Sent from my SM-G960U using Tapatalk
 

CPNY

TUG Member
Joined
Jun 18, 2019
Messages
7,612
Reaction score
4,477
Points
349
Resorts Owned
Harborside Resort at Atlantis
SVV - Key West/Bella
WKV
Regal Vista at Massanutten
When I bought my WSJ in September I had the owner put the February reservation in my name before the process was complete.

You could ask the buyer if the process isn't complete by May would they be OK with you making the reservation for them.

My process was started in early September and was finished by the end of October IIRC. But that was prior to the merger of departments with Marriott.

Sent from my SM-G960U using Tapatalk
That’s a good suggestion making the reservation for them
 

DannyTS

TUG Member
Joined
Mar 24, 2018
Messages
5,753
Reaction score
3,076
Points
348
Upon transfer, the rules concerning existing reservations may be different for a home resort or SO reservation. Double check with Vistana whether they will agree to transfer a VSN booking.
 

goaliedave

Guest
Joined
Jan 5, 2019
Messages
1,298
Reaction score
854
Points
123
Resorts Owned
Raintree, Diamond (bought by Hilton), Shell (bought by Wyndham), Sheraton (bought by Marriott), Palace Resorts, a few independants
That’s a good suggestion making the reservation for them
Agree... i've always had the seller do this. Then once ownership is finalized by the resort i double check it is under my # not seller's account #. Once they had my name but seller's contact info

Sent from my SM-A505G using Tapatalk
 

CPNY

TUG Member
Joined
Jun 18, 2019
Messages
7,612
Reaction score
4,477
Points
349
Resorts Owned
Harborside Resort at Atlantis
SVV - Key West/Bella
WKV
Regal Vista at Massanutten
Upon transfer, the rules concerning existing reservations may be different for a home resort or SO reservation. Double check with Vistana whether they will agree to transfer a VSN booking.
I don’t want them to transfer the booking. I want to keep my booking in march for myself since first usage is 2021 but they want the options for 2021 in their account by May to make a Jan 2021 reservation
 

CPNY

TUG Member
Joined
Jun 18, 2019
Messages
7,612
Reaction score
4,477
Points
349
Resorts Owned
Harborside Resort at Atlantis
SVV - Key West/Bella
WKV
Regal Vista at Massanutten
Agree... i've always had the seller do this. Then once ownership is finalized by the resort i double check it is under my # not seller's account #. Once they had my name but seller's contact info

Sent from my SM-A505G using Tapatalk
They want the options to be used at another resort not the home resort. They want the ability to make a reservation in May for next Jan. But I have a reservation for myself in march of this year. First usage is 2021. I just don’t want this happening within the next month or two and lose my march reservation. I’m thinking if I start the process in two weeks all should be good.
 

controller1

TUG Member
Joined
Aug 14, 2017
Messages
3,042
Reaction score
1,942
Points
298
Location
Tulsa
Resorts Owned
Westin KORVN OF
Westin Nanea OF
Westin FLEX
the buyer wanted title insurance, it’s a Florida deed, is title insurance really needed? What’s the best information to give them regarding title insurance?

FYI - If I were the buyer and wanted title insurance and the seller tried to talk me out of title insurance I'd walk immediately as it would be a red flag to me.
 

CPNY

TUG Member
Joined
Jun 18, 2019
Messages
7,612
Reaction score
4,477
Points
349
Resorts Owned
Harborside Resort at Atlantis
SVV - Key West/Bella
WKV
Regal Vista at Massanutten
FYI - If I were the buyer and wanted title insurance and the seller tried to talk me out of title insurance I'd walk immediately as it would be a red flag to me.
Thanks for the heads up. You’re right. I try too much and take the info here and pass it off. So many have said don’t get title insurance for Florida properties. Do you know any closing companies I can refer the seller to that will include title insurance?
 

dioxide45

TUG Review Crew: Expert
TUG Lifetime Member
Joined
May 20, 2006
Messages
48,358
Reaction score
19,820
Points
1,399
Location
NE Florida
Resorts Owned
Marriott Grande Vista
Marriott Harbour Lake
Sheraton Vistana Villages
Club Wyndham CWA
A few things here. It is my understanding that once you transfer a deed, the StarOptions go with it. I am not sure how they handle existing reservations. This would best be answered by Vistana. The problem now is that you can only get a hold of front line customer service agents (not the title or transfer area) that are not very likely to know what happens and they will just make up an answer. I would suggest asking this question through the website so you have the answer in writing. However, given how long it is taking Vistana to to transfers (isn't it at about four weeks right now), chances are your March travel will be over by the time Vistana gets around to changing ownership in their system.

As for title insurance. You probably won't be able to use LT Transfers. I don't think they offer title insurance. THey may through a third party, not 100% sure. You may have to look in to a different timeshare closing company for the buyer to be able to get title insurance. I would leave this up to them to figure out where to buy title insurance. This isn't something you can do for them.
 

CPNY

TUG Member
Joined
Jun 18, 2019
Messages
7,612
Reaction score
4,477
Points
349
Resorts Owned
Harborside Resort at Atlantis
SVV - Key West/Bella
WKV
Regal Vista at Massanutten
A few things here. It is my understanding that once you transfer a deed, the StarOptions go with it. I am not sure how they handle existing reservations. This would best be answered by Vistana. The problem now is that you can only get a hold of front line customer service agents (not the title or transfer area) that are not very likely to know what happens and they will just make up an answer. I would suggest asking this question through the website so you have the answer in writing. However, given how long it is taking Vistana to to transfers (isn't it at about four weeks right now), chances are your March travel will be over by the time Vistana gets around to changing ownership in their system.

As for title insurance. You probably won't be able to use LT Transfers. I don't think they offer title insurance. THey may through a third party, not 100% sure. You may have to look in to a different timeshare closing company for the buyer to be able to get title insurance. I would leave this up to them to figure out where to buy title insurance. This isn't something you can do for them.
Thank you, I emailed the buyer and offered for them to find a closing company that would offer title insurance. If I start the process within a week or two I’m sure the march travel would have been completed by the time the transfer takes place. I should be good there. Any recommendations on closing companies that offer title insurance?
 

controller1

TUG Member
Joined
Aug 14, 2017
Messages
3,042
Reaction score
1,942
Points
298
Location
Tulsa
Resorts Owned
Westin KORVN OF
Westin Nanea OF
Westin FLEX
Thank you, I emailed the buyer and offered for them to find a closing company that would offer title insurance. If I start the process within a week or two I’m sure the march travel would have been completed by the time the transfer takes place. I should be good there. Any recommendations on closing companies that offer title insurance?

I would still check with LT Transfers since they may have the ability to get title insurance even though it is not usually offered. Getting title insurance may help your time frame of your March travel since it will slow the process a bit.
 

CPNY

TUG Member
Joined
Jun 18, 2019
Messages
7,612
Reaction score
4,477
Points
349
Resorts Owned
Harborside Resort at Atlantis
SVV - Key West/Bella
WKV
Regal Vista at Massanutten
I would still check with LT Transfers since they may have the ability to get title insurance even though it is not usually offered. Getting title insurance may help your time frame of your March travel since it will slow the process a bit.
Excellent. Good idea...
 

mauitraveler

TUG Member
Joined
Oct 15, 2013
Messages
637
Reaction score
224
Points
253
Location
California
That’s a good suggestion making the reservation for them
Also, if you make the reservation for them, they will have a good time-stamp for the SO reservation. Would they consider using the home resort? That way, you can make the reservation for them now, rather than their having to wait to make the SO reservation in May, resulting in an even better time-stamp! (We did that with one of our purchases, which resulted in a great room assignment.) Good luck with the sale's process! CJ
 

Ken555

TUG Review Crew: Veteran
TUG Member
Joined
Jun 7, 2005
Messages
14,661
Reaction score
5,777
Points
898
Location
Los Angeles
Resorts Owned
Westin Kierland
Sheraton Desert Oasis
I bought one unit with title insurance long ago, and used Chicago Title. This is completely separate from closing.


Sent from my iPad using Tapatalk
 

CPNY

TUG Member
Joined
Jun 18, 2019
Messages
7,612
Reaction score
4,477
Points
349
Resorts Owned
Harborside Resort at Atlantis
SVV - Key West/Bella
WKV
Regal Vista at Massanutten
I bought one unit with title insurance long ago, and used Chicago Title. This is completely separate from closing.


Sent from my iPad using Tapatalk
Thank you. They got back to me and said they wouldn’t be needing it after all. But that’s good to know that you can just obtain it separate.
 

dioxide45

TUG Review Crew: Expert
TUG Lifetime Member
Joined
May 20, 2006
Messages
48,358
Reaction score
19,820
Points
1,399
Location
NE Florida
Resorts Owned
Marriott Grande Vista
Marriott Harbour Lake
Sheraton Vistana Villages
Club Wyndham CWA
I think Janet is now back with her own business, JRA Services Inc again. In the past, her fees were reasonable and she was quick and communicated well.
I bought one unit with title insurance long ago, and used Chicago Title. This is completely separate from closing.


Sent from my iPad using Tapatalk
Who did the closing? Generally the title insurance company will want the transaction to go through a licensed closing company. This seems to be the reason that Redweek won't use LT Transfers.
 

Ken555

TUG Review Crew: Veteran
TUG Member
Joined
Jun 7, 2005
Messages
14,661
Reaction score
5,777
Points
898
Location
Los Angeles
Resorts Owned
Westin Kierland
Sheraton Desert Oasis
Who did the closing? Generally the title insurance company will want the transaction to go through a licensed closing company. This seems to be the reason that Redweek won't use LT Transfers.

I don’t recall, tho if you’re really curious I can look it up. It was in 2005.


Sent from my iPad using Tapatalk
 

echino

TUG Member
Joined
Dec 2, 2008
Messages
2,262
Reaction score
1,881
Points
524
Location
Vancouver
Resorts Owned
HYN HCC HWP HYP
HRA KAN WSJ WKV WLR SVV
MCV MKO MM1 MPU MSK
GP7
Valdoro
HHV Lagoon
Caution: Vistana will likely cancel all existing reservations during the transfer. Even when a document was included with the transfer package instructing Vistana NOT to cancel the reservation, they still cancelled it. This is from personal experience. Happened consistently recently, more than once or twice.
 
Top