SVO - In Limbo! Escrow close in December

Greetings,

My wife and I are in the process of closing escrow with a resale week at Harborside 2BR / LO Phase I Gold Float. We anticipate the transfer of title in mid December from the Bahamas (that is why it is taking so long).

In the meantime, the existing SVO owner reserved a week in July (July 6th Friday), as a reserved placeholder. I am not sure if this is a good week or not. The float week we are buying is week 49 on the Title.

I discovered last month that due to work schedules I now have a conflict due during the week the original owner had booked as a placeholder.

Comments for the choices below would be much appreciated.

Option:
1. Push the existing reserved week out for a different week at HS during the month of August (if it's available).

Honestly, until we find another family to join us, we can't possibly utilize an entire 2BR LO at Harborside. Realistically, our family is only in need of the 1BR Premium for the one week at HS. My wife, 10yr. old daughter and I would be using the 1BR Premium.

2. Trade the week within SVO.
Push the reserved week out instead and trade it within SVO for a week in Hawaii at Westin Maui in August (Staroptions for the 2BR LO exchange from Harborside are about 95,000). Can that buy us a 1BR Premium at WKOR?

3. Split the 2BR LO week into two seperate weeks in calendar 2007.
Perhaps a 1BR week at Mission Hills, Ca. or Kierland (definetly not in the Summer : ) and a rescheduled 1BR Premium week for August at Harborside?

4. Bank the 2BR LO week with II



Now for some questions I don't know how to answer quite yet.

Question 1:
What is the best approach to take with the sellers agent and the seller to reschedule the week for any of the three options above?

Question 2:
What is the cost to the existing owner to make changes to the pre-reserved week based on changes we propose to them before Title tranfers?

Question 3:
When Title changes to our name, does SVO honor the preexisting week(s) which were booked by the previous owner, or do the week's get "reset"?

Question 4:
What happens if we wait to do all this after Title clears and week is finally in our name?

Question 5:
Since we are not "officially" owners "yet", until Dec 2006 and Title has not yet cleared, what is our best course of action at this time?

I'll take a stab at this.

Regarding your options, 81K SOs will get you a 1 bedroom premium at WKORV. Getting a different week at Harborside in a 1 bedroom premium would be fine, also. Splitting your SOs into two weeks would be great if you can go on two vacations and if there is availability. Now your questions...

Question 1:
What is the best approach to take with the sellers agent and the seller to reschedule the week for any of the three options above?

In most resale cases, agents and seller are cooperative in making changes to these types of reservations. After all, you are buying the week, and you are entered into a contract with them. I would advise you to have backup dates and locations for them to try, in case your first few choices are unavailable. And you might not get another chance to ask them to do this for you.

Question 2:
What is the cost to the existing owner to make changes to the pre-reserved week based on changes we propose to them before Title tranfers?

If the owner has booked a week during his home resort preference period, then there is no charge to cancel and rebook during the home resort preference period. If he changes or cancels a reservation booked with Staroptions, then there is a $29 fee assessed 24 hours after the reservation is booked.

Question 3:
When Title changes to our name, does SVO honor the preexisting week(s) which were booked by the previous owner, or do the week's get "reset"?

SVO will honor the preexiting week(s). You should have them made in your name to make it simpler, but once you are the owner, you can change the names on the reservation also.

Question 4:
What happens if we wait to do all this after Title clears and week is finally in our name?

Nothing, except that you would lose the next two months to book. If you have a high demand week that you are looking to book, then you'd need to book 8 months out for resorts or weeks outside your home resort preference period. If you want a popular week during your home resort preference period, then you should book that at 12 months out.

Question 5:
Since we are not "officially" owners "yet", until Dec 2006 and Title has not yet cleared, what is our best course of action at this time?

It depends on what week(s) you decide to try for in 2007. If nothing is lost by waiting, then just wait. If you are hoping to get some prime weeks at other resorts and are nearing the 8-month mark, then you should really ask the agent/owner for some help in changing the existing reservation. Only the owner of record can call and make those changes. What is your relationship like, has it been a smooth and easy transaction thus far? If so, then they should be okay with you asking. Keep in mind that depending on where they live, it may be difficult to ask them to call at 8am Eastern for a hard to get ressie.

Reservations by Proxy

Thanks Denise!

I knew I could count on you for a good stab at it.

So far the transacation with the agent has been flawless. Great support, communcations and very friendly.

So, I've sent off an email to the sales agent and suggested reassigning the Harborside 2BR LO week starting on July 6th (which we can't make) for a 1BR Premium at WKORV during the weeks subsequent of the week mentioned above, all the way into mid August. About four weeks too choose from.
Not sure if that's a good time to be in Hawaii or not : ) It's all Platinum time so it can't be all that bad, maybe more rain?

So, if we check in on a Wednesday we can extend an extra day to consume any residual StarOptions for a Thursday checkout. A Thursday check in and Friday check out put us negative in StarOptions by about 1,500 points.

Would a Wednesday check in be in or out of favor for a potential Ocean View 1BR Premium Villa

Do you think WKORV North will be completed by July 2008? Should we not consider WKORV North for 2008?

Thanks alot,

conkyjoe said:

So, if we check in on a Wednesday we can extend an extra day to consume any residual StarOptions for a Thursday checkout. A Thursday check in and Friday check out put us negative in StarOptions by about 1,500 points.

Would a Wednesday check in be in or out of favor for a potential Ocean View 1BR Premium Villa

Do you think WKORV North will be completed by July 2008? Should we not consider WKORV North for 2008?

Click to expand...

WKORV check-in days are Friday, Saturday or Sunday. In order to get the extra days, you can use Staroptions at 90 days out only. Chances are, there would be no availability in July 2007 for those extra days.

WKORV-N opens in late July 2007, in phases. Not sure when the whole thing will be complete, but it will be open for occupants next year.

November or December call in times...

So, if I understand this correctly;

The existing owners can not request a week at WKORV for 2007 mid July or early August because we are still nine months out as of in November 2006?

They would only be able to request the week next month in December on our behalf. Correct : )

Mahalo

Count back 8 months. For July 1, call Nov 1. For Aug 1, call Dec 1, etc. So the existing owners could call anytime this month for a week in July. Keep in the mind the check-in dates, and have them call at 8 months out.