1st SVO purchase -- good deal? - Timeshare Users Group Online Community Forums

okwiater · March 9, 2010, 11:38 PM

I agreed to purchase my 1st timeshare and was wondering if I got a good deal.

It is an annual Westin Kierland Villas 2 bedroom L/O (148,100 StarOptions every year) for $5500 + $1400 (2010 maintenance) + $499 closing.

Should I opt for title insurance on this property? I'm purchasing from one of these timeshare brokers (100% feedback on eBay) and they do guarantee a clear title, but.................

Thanks for any advice.

yumdrey · March 9, 2010, 11:54 PM

If you purchased it from ebay buy-it-now, it must be "every other year", not every year use??
Anyway, it is still great price!

DanCali · March 10, 2010, 12:25 AM

I suspect this is the eBay auction mentioned above and in the eBay thread. The selet lists it as 148K Sos every year and ~$1350 annual MFs but in other places he lists it as an even year interval which means you get 148K SOs every other year and you pay about $700 in MFs every year.

Even for an EOY auction you got a steal. The sellet totally mispriced it. The last annual WKV went on eBay for over $19K so an EOY is probably worth around $10K... Do keep us posted in the seller goes through with the sale or if they renege.

Most of these sellers do not let you use a different closing company but I would still get title insurance for peace of mind if they let you. It's not cheap but it's also not a cheap purchase. At the very least you should ask them to see the estoppel letter before you pay anything to make sure you are buying what you think you are buying and that MFs are current and paid for 2010.

okwiater · March 10, 2010, 12:35 AM

Yes, this was on eBay. I see what you mean. In the subtitle, he says "even years" but everywhere else in the auction it specifies "annual," "148K StarOptions every year," and $1400 MF. We'll see what I'm actually getting.

I'll definitely ask for an estoppel letter. I'm a bit hesitant on the title insurance since it's $600... really?? >10% of the sale price??

Will keep everyone posted. Hope to join the SVO community soon! (fingers crossed)

DanCali · March 10, 2010, 12:42 AM

Quote:

Originally Posted by okwiater

Yes, this was on eBay. I see what you mean. In the subtitle, he says "even years" but everywhere else in the auction it specifies "annual," "148K StarOptions every year," and $1400 MF. We'll see what I'm actually getting.

I'll definitely ask for an estoppel letter. I'm a bit hesitant on the title insurance since it's $600... really?? >10% of the sale price??

Will keep everyone posted. Hope to join the SVO community soon! (fingers crossed)

Title insurance should be no more than $300...

Ken555 · March 10, 2010, 03:19 AM

Great deal! I, like others here, would probably jump at the opportunity to add another 148k week (even EOY) at this price. Fantastic entry into t/s - congrats!

March 9, 2010, 11:38 PM	#1
okwiater TUG Member BBS Reg. Date: Mar 9, 10 Posts: 84 Resorts: WKV	1st SVO purchase -- good deal? I agreed to purchase my 1st timeshare and was wondering if I got a good deal. It is an annual Westin Kierland Villas 2 bedroom L/O (148,100 StarOptions every year) for $5500 + $1400 (2010 maintenance) + $499 closing. Should I opt for title insurance on this property? I'm purchasing from one of these timeshare brokers (100% feedback on eBay) and they do guarantee a clear title, but................. Thanks for any advice.

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March 9, 2010, 11:54 PM	#2
yumdrey TUG Member BBS Reg. Date: Jun 30, 08 Location: Maryland, U.S.A. Posts: 886 Resorts: Worldmark, Starwood (SVV,WKV,HRA), Hilton-HGVC (Flamingo & LV), Marriott Shadow Ridge, Four Seasons Aviara	If you purchased it from ebay buy-it-now, it must be "every other year", not every year use?? Anyway, it is still great price!

March 10, 2010, 12:25 AM	#3
DanCali TUG Member BBS Reg. Date: Sep 17, 09 Location: California Posts: 1,860	I suspect this is the eBay auction mentioned above and in the eBay thread. The selet lists it as 148K Sos every year and ~$1350 annual MFs but in other places he lists it as an even year interval which means you get 148K SOs every other year and you pay about $700 in MFs every year. Even for an EOY auction you got a steal. The sellet totally mispriced it. The last annual WKV went on eBay for over $19K so an EOY is probably worth around $10K... Do keep us posted in the seller goes through with the sale or if they renege. Most of these sellers do not let you use a different closing company but I would still get title insurance for peace of mind if they let you. It's not cheap but it's also not a cheap purchase. At the very least you should ask them to see the estoppel letter before you pay anything to make sure you are buying what you think you are buying and that MFs are current and paid for 2010.

March 10, 2010, 12:35 AM	#4
okwiater TUG Member BBS Reg. Date: Mar 9, 10 Posts: 84 Resorts: WKV	Yes, this was on eBay. I see what you mean. In the subtitle, he says "even years" but everywhere else in the auction it specifies "annual," "148K StarOptions every year," and $1400 MF. We'll see what I'm actually getting. I'll definitely ask for an estoppel letter. I'm a bit hesitant on the title insurance since it's $600... really?? >10% of the sale price?? Will keep everyone posted. Hope to join the SVO community soon! (fingers crossed)

March 10, 2010, 03:19 AM	#6
Ken555 TUG Member BBS Reg. Date: Jun 7, 05 Location: Los Angeles Posts: 2,434 Resorts: Westin Kierland, Westin Mission Hills, Sheraton Vistana Resort (Falls) x 2	Great deal! I, like others here, would probably jump at the opportunity to add another 148k week (even EOY) at this price. Fantastic entry into t/s - congrats!