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Willow Ridge EOY

S

Saintsfanfl

TUG Member
Joined
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Messages
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Location
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Just closed for $1,100. Wow! I think this is driven by some who mistakenly believe they are receiving half the maintenance fee for free. Even with that erroneous assumption, it seems high. Weren't we surprised a short while ago when an annual went for $1,250?
 
I was watching that auction too. I don't have any Marriott EOY but did have a Starwood one. Does Marriott not bill half MF each year for EOY weeks like the listing states? Thanks!
 
I was watching that one too!

Yes, Marriott bills every other year units and splits the maintenance fees in half.
 
EOY maintenance

Marriott charges the split maintenance in the year of use and the year after. For example, for 2014 usage, Marriott charges in 2014 and 2015. Many PCC sellers charge buyers for the maintenance in the year before usage. So those buyers are paying half the maintenance for the last usage of the previous owner.

I don't bid on the weeks that charge me an extra half maintenance for the year before usage. I would feel that I was ripped off. I think that some bidders do not realize how Marriott charges EOY maintenance and think that the split maintenance is paid in the year of usage and the year before.

Probably most timeshare owners including me, have been ripped off of greater or smaller amounts. It all comes down to knowledge of how it all works.
 
In reality, it probably doesn't matter how a particular resort bills as long as it is half every year. The reason is because nobody wants to eat that half fee without usage. So when you go to sell you probably won't get the value for it regardless.

I have another non-Marriott EOY that also first billed half in the year of usage just like my Marriott. They require maintenance paid before exchanging but they only require the half and not the year after. I suspect most resorts do this no matter how the cycle began and this is why you see so many EOYs on eBay where the PCC either wants reimbursement or they advertise it for free. They don't want to eat it either.
 
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I was going to bid on this one, and was surprised when it shot up to over $1000. The ad had all sorts of misleading errors. It was listed as platinum weeks, but mentioned silver weeks as well. The "free 2013 usage" is a strange way to voice the fact that the 2013 dues were paid. This unit sold for double what I thought it would go for!
 
Chrispee said:
I was going to bid on this one, and was surprised when it shot up to over $1000. The ad had all sorts of misleading errors. It was listed as platinum weeks, but mentioned silver weeks as well. The "free 2013 usage" is a strange way to voice the fact that the 2013 dues were paid. This unit sold for double what I thought it would go for!
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No kidding! I got clarification on exactly what it was from Sean and I was expecting bidders to get scared away by the strange info. I sniped at something between $300 and $400.
 
Amazing it went so high eoy plus its not a lockoff unit.
 
fillde said:
Amazing it went so high eoy plus its not a lockoff unit.
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This is a common misconception perpetuated by Marriott clerks and PCC's that do not thoroughly understand what they are dealing with. There is no such thing as "not a lock-off unit" at this resort. It is a floating unit system so all units have the exact same right to lock-off.
 
Saintsfanfl said:
This is a common misconception perpetuated by Marriott clerks and PCC's that do not thoroughly understand what they are dealing with. There is no such thing as "not a lock-off unit" at this resort. It is a floating unit system so all units have the exact same right to lock-off.
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Hah. I pm'd Sean about the lockoff feature and he said it wasn't a lockoff. Never bid on it for that reason but like others have said, I believe the price was too high.
 
fillde said:
Hah. I pm'd Sean about the lockoff feature and he said it wasn't a lockoff. Never bid on it for that reason but like others have said, I believe the price was too high.
Click to expand...

The deeded unit was probably a non-lock off unit as there are both at the resort, but you have the ability to reserve a lock off if there is still availability. When there isn't and you are using it for deposit into II, they will sometimes issue you a supplemental week which they use to create a placeholder for your week that they "made in the system" for you. This is what they did for me when I bought my unit.

This auction was just a matter of a couple of individuals who wanted to have it at all costs and in these cases, I would just stand back and let it happen. Way too much for EOY IMHO.
 
Saintsfanfl said:
This is a common misconception perpetuated by Marriott clerks and PCC's that do not thoroughly understand what they are dealing with. There is no such thing as "not a lock-off unit" at this resort. It is a floating unit system so all units have the exact same right to lock-off.
Click to expand...




Actually, some of the Villas at this Marriott Resort are dedicated two bedroom units (which are not lock off capable) so it's important to be sure to reserve a lock off unit so that the lock off option remains as a viable option for your use.




.
 
TheTimeTraveler said:
Actually, some of the Villas at this Marriott Resort are dedicated two bedroom units (which are not lock off capable) so it's important to be sure to reserve a lock off unit so that the lock off option remains as a viable option for your used.
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Understood, but that is a different issue. To believe that the purchase is or is not a lockoff is erroneous. Both deeded units have the exact same usage capabilities.

To that end I have also seen Marriott clerks designate "not a lock-off" on estoppels for a resort that only has lock-offs. Sean will blindly go by whatever they put on the estoppel.
 
Saintsfanfl said:
Understood, but that is a different issue. To believe that the purchase is or is not a lockoff is erroneous. Both deeded units have the exact same usage capabilities.

To that end I have also seen Marriott clerks designate "not a lock-off" on estoppels for a resort that only has lock-offs. Sean will blindly go by whatever they put on the estoppel.
Click to expand...

As these deeds are titled to a specific week and unit, it would be correct if it was deeded as a non-lock off. If I was in the position of selling it, I would state it as the deed declares it to be, then a buyer could not go back saying that you had promised them a lock off when technically it is not, even though you have the ability to. I think it is important to accurately represent what is being sold and I see nothing wrong with what the seller has done in this listing. It is what it is.

Knowing that it can be locked off is a separate issue and unless you really know the resort and the policies of Marriott, you might not know that it can be locked off. As a mass seller, I'm not sure it is fair to expect them to know the ins and outs of every timeshare system. As long as they are representing what they are selling accurately, I think that is the extent of their "duty of care". How we use it as the end user is not really of concern to the seller nor should it be, that is up to the buyer to know how to use it properly.
 
Quadmaniac said:
As these deeds are titled to a specific week and unit, it would be correct if it was deeded as a non-lock off. If I was in the position of selling it, I would state it as the deed declares it to be, then a buyer could not go back saying that you had promised them a lock off when technically it is not, even though you have the ability to. I think it is important to accurately represent what is being sold and I see nothing wrong with what the seller has done in this listing. It is what it is.

Knowing that it can be locked off is a separate issue and unless you really know the resort and the policies of Marriott, you might not know that it can be locked off. As a mass seller, I'm not sure it is fair to expect them to know the ins and outs of every timeshare system. As long as they are representing what they are selling accurately, I think that is the extent of their "duty of care". How we use it as the end user is not really of concern to the seller nor should it be, that is up to the buyer to know how to use it properly.
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Does the deed state lock-off or not a lock-off? I don't think it does but I do understand the specific unit may or may not be a compatible type. The deed itself does not convey the "lock-off" ability. Even if the technical deeded unit has that ability, the deed does not convey this right. The lock-off ability is only within the reservation system.

I think the PCC's should do a better job when the situation is the other way around. When they state that a unit "IS a lock-off", most buyers mistakenly assume that they will always be able to lock-off the unit. People understand the term "lock-off" as the ability for a reservation and not just a physical door within the deeded unit.

Another similar example is a recent eBay listing for a 2BR Townhouse at Lakehshore Reserve. The specific unit number may or may not be an actual 2BR Townhouse unit, but we all know there is no ownership tied to just the Townhouses for usage purposes. The ownership is called "2BR Deluxe" and you are not guaranteed a Townhouse reservation.
 
Saintsfanfl said:
Does the deed state lock-off or not a lock-off? I don't think it does but I do understand the specific unit may or may not be a compatible type. The deed itself does not convey the "lock-off" ability. Even if the technical deeded unit has that ability, the deed does not convey this right. The lock-off ability is only within the reservation system.

I think the PCC's should do a better job when the situation is the other way around. When they state that a unit "IS a lock-off", most buyers mistakenly assume that they will always be able to lock-off the unit. People understand the term "lock-off" as the ability for a reservation and not just a physical door within the deeded unit.

Another similar example is a recent eBay listing for a 2BR Townhouse at Lakehshore Reserve. The specific unit number may or may not be an actual 2BR Townhouse unit, but we all know there is no ownership tied to just the Townhouses for usage purposes. The ownership is called "2BR Deluxe" and you are not guaranteed a Townhouse reservation.
Click to expand...

No the deed itself does not convey lock off ability, but you have to consider most people are not as technical about all the details about how their timeshare works. Most want to know the exact details of the subject property, as it is what they are going to use. Many do not know ins and outs like we do, so it better to state it accurately what is being sold.

How often do we hear about people buying a timeshare, getting frustrated as they can't make use of it and want out ?

At the end of the day, it is really up to the end user to know what is what and how to use it like locking it off / the lock off ability.
 
I was the only one who bid on one of my Harbour Lake weeks because the seller was telling people that it did not lock-off and they were locked in to only using week 52 every year! I didn't really feel like pointing out those issues with the listing to the seller.. :D

Quadmaniac said:
No the deed itself does not convey lock off ability, but you have to consider most people are not as technical about all the details about how their timeshare works. Most want to know the exact details of the subject property, as it is what they are going to use. Many do not know ins and outs like we do, so it better to state it accurately what is being sold.

How often do we hear about people buying a timeshare, getting frustrated as they can't make use of it and want out ?

At the end of the day, it is really up to the end user to know what is what and how to use it like locking it off / the lock off ability.
Click to expand...
 
ScubaKat said:
I was the only one who bid on one of my Harbour Lake weeks because the seller was telling people that it did not lock-off and they were locked in to only using week 52 every year! I didn't really feel like pointing out those issues with the listing to the seller.. :D
Click to expand...

Yep that is what happened with the Harbour Lake I bought for my brother last month. We got it for a pretty reasonable price and many times, it is to our benefit that they list it the way the deed states it and the people who really know, pick up on it right away.

I don't think it is up to us to educate the seller or the other bidders what's what. I like it when competing bidders are confused :banana::banana::banana:
 
Quadmaniac said:
Still not understanding why EOY go for as much or more than EY ???
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Perhaps because people know there is no fear of losing it due to ROFR? So more bidders in the marketplace means more competition for a week that they know MVCI won't snap out from under them?
 
ROFR was the reason I was tempted.. But still didn't bid because of the price and would rather have an annual week.

dioxide45 said:
Perhaps because people know there is no fear of losing it due to ROFR? So more bidders in the marketplace means more competition for a week that they know MVCI won't snap out from under them?
Click to expand...
 
Quadmaniac said:
Still not understanding why EOY go for as much or more than EY ???
Click to expand...

I bought an EOY about a year and a half ago. I think I paid just under $700 including closing cost. I bought it as a trader to compliment a Starwood trader. I didn't need 2 units per year, so EOY I have a good 1 br Marriott trader and then I can use the studio in flex or other times as needed.
 
I saw an annual go for $250 a little over a year ago. These are different times.

I agree that the ROFR is affecting the prices here. Since Marriott took an annual for over $2k anyone who wants a Willow Ridge Platinum needs to snag two EOY's for $1k each. It is apparant at this point that the true market value is over $1k for eoy and over $2k for annual. I don't think we have seen Marriott take an eoy, but the demand for either is now exceeding the supply.
 
Quadmaniac said:
Still not understanding why EOY go for as much or more than EY ???
Click to expand...

I think a contributing factor is because people are viewing getting usage for 1/2 a maintenance fee.

I don't wish to steer this into a what year's maintenance fees are attributed to which year's usage -- this has been argued before. But, no matter how much people want to argue, it appears to the buyer that they are getting a break on the 1st year's usage.

That is why I think there are some EOY auctions that end up the same price as EYs.

-ryan
 
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