WKORV purchasing advice

[Stljayhawk]

We attended a presentation at WKORV last week, and would love to own a 1Br ocean view week, and potentially eventually upgrade to a 2br. We have 2friends that own developer purchased weeks at this resort with no regrets, but we declined to buy from the developer because all we have learned from this board. We have considered trying to buy this property resale, but the salespeople last week assured us that they are taking advantage of ROFR and repurchasing as much inventory as possible at this property. We have considered buying 81,000 star options resale at kierland, and using it strictly for trading purposes. Would we have any potential for ocean view with this option? If ocean view is important to us do we need to buy from the developer? Any other ideas or advice? Thanks!

 

[vacationtime1]

If ocean view is important to us do we need to buy from the developer?

If ocean view is important to you, you need to buy a deeded ocean view unit. But you don't need to buy it from the developer.

I own at Kierland and I often exchange it into WKORV or WKORVN using StarOptions. But when I do this, I take a view risk. Same thing with exchanging our SDO and SBP weeks via Interval -- an unavoidable view risk. Exchangers can be assigned any unit, ranging from the dreaded parking lot view in Building 4 to an ocean front unit.

It is true that Starwood is actively exercising ROFR at this time; we have had it happen to us twice in the past year (once buying; once selling). But remember that Starwood is in business to make a profit, so they only exercise ROFR where the price is low enough for them to resell it retail at a margin sufficient to cover their expensive sales department.

The two most knowledgeable brokers for buying Westin Maui resale are Syed Sarmad (Advantage Vacations) and Fred Messrini (Timeshare Resale Gallery). They are both active on this board and you won't go wrong with either.

Last thought. If you need only a one bedroom now but think you may need the larger unit later, buy a two bedroom now. You can go for an extra week (the second week in a studio), go somewhere else in addition by exchanging the studio, stay for 13 days in a one bedroom (you get the last six days on a StarOption exchange -- with the view risk), or rent the studio. But it is easier to do that than to buy, then sell and buy. JMHO

 

[tofuyan]

2 months ago, we attended the wkorv presentation and decided to purchas from the developer. Within a few days of deciding whether to keep it, we decided to rescind and purchase a resale. We purchased a resale of EOY 2 bedroom ocean view unit and thankfully passed the ROFR. I believe that it was because it was during the time of the holidays that it got put onto the bottom of their pile. But it is definitely possible to pass the ROFR.

 

[DeniseM]

I would not buy a one bedroom - the MF is nearly as high as a two bedroom, which makes it a really poor value. It would be a better deal to buy a 2-bedroom resale and rent one side to help cover the MF. There is a healthy rental market at this resort.

BUY RESALE!