Newbie - Looking to Buy Resale

Hey everyone! I've been lurking for a while and I think I'm ready to finally get the ball rolling for a purchase. My wife and I are interested in a 2 bedroom at the Sheraton Vistana Villages, Key West or Bella phases (non-high week, we prefer to go when the kids are in school, haha). I wonder if someone can answer/confirm some of the questions I have:

1) In purchasing a week at either phase, I can use my star options to stay at other resort locations correct? We would probably stay at Vistana every other year (more so when the kids are older).
2) Is one phase preferable over the other? It appears that the Bella phase cost less on the resale market but had higher maintenance fees?
3) I've been poking around SMTN, reading these boards it seems people had mixed reviews when selling their timeshares on that site; any thoughts/experiences on the purchasing side of things? Is it an easy process? I've read that they just connect the buyer and seller, and then I also read that they took care of everything (supplied a closing agent)?
4) Any other resale sites to recommend? I tried Redweek and SMTN appeared to have better deals for what I was looking for.
5) How much are typical closing costs? Are we talking a couple hundred?
6) I thought I read that the fee to roll over star options was around $100, is that correct? Can you roll over multiple years? Is there a limit to how many points you can roll over?
7) Are there any benefits/disadvantages to having a floating week?

Any other thoughts, opinions, or advice would be welcomed.

Thanks in advance for any help!

(Sorry if this is under the wrong section)

ChrisK23 said:

Hey everyone! I've been lurking for a while and I think I'm ready to finally get the ball rolling for a purchase. My wife and I are interested in a 2 bedroom at the Sheraton Vistana Villages, Key West or Bella phases (non-high week, we prefer to go when the kids are in school, haha). I wonder if someone can answer/confirm some of the questions I have:

1) In purchasing a week at either phase, I can use my star options to stay at other resort locations correct? We would probably stay at Vistana every other year (more so when the kids are older).
2) Is one phase preferable over the other? It appears that the Bella phase cost less on the resale market but had higher maintenance fees?
3) I've been poking around SMTN, reading these boards it seems people had mixed reviews when selling their timeshares on that site; any thoughts/experiences on the purchasing side of things? Is it an easy process? I've read that they just connect the buyer and seller, and then I also read that they took care of everything (supplied a closing agent)?
4) Any other resale sites to recommend? I tried Redweek and SMTN appeared to have better deals for what I was looking for.
5) How much are typical closing costs? Are we talking a couple hundred?
6) I thought I read that the fee to roll over star options was around $100, is that correct? Can you roll over multiple years? Is there a limit to how many points you can roll over?
7) Are there any benefits/disadvantages to having a floating week?

Any other thoughts, opinions, or advice would be welcomed.

Thanks in advance for any help!

(Sorry if this is under the wrong section)

Click to expand...

We purchased both an annual Bella and a Key West 2 bdrm (non-lockoff) Gold Season last year for $1,000. (Bella was $1000. When I posted on TUG with a question, another owner offered the Key West for $0.) Each had 67,100 SOs which we used this year for two weeks in Kaanapali North studio in January. The SOs are good within the SVNetwork.
We have stayed in Bella but not Key West and the MFs are close to the same. A lockoff generally comes with 81,000 SOs I believe. We used the TUG Marketplace to find the first unit. It was offered at $1500 and we made a lower offer. We used LT Transfers for the closing and it was about $200+/- to close and we reimbursed for 2014 MFs. We banked the SOs to 2015. The charge is $95 and they are banked actually for two years to provide flexibility. Not sure if there is a limit for banking.
If you are serious about resale, communicate with some owners with units to sell on TUG Marketplace. We have found a wide range of prices for similar units on the site. Some people just want to be rid of their MFs; others appear to want what they paid and have an unrealistic view as to resale prices.

1) In purchasing a week at either phase, I can use my star options to stay at other resort locations correct? We would probably stay at Vistana every other year (more so when the kids are older).

Yes, if you buy in either of the phases you mentioned, you will be able to exchange to another SVN location with your SOs, even if you buy from a third party.

3) I've been poking around SMTN, reading these boards it seems people had mixed reviews when selling their timeshares on that site; any thoughts/experiences on the purchasing side of things? Is it an easy process? I've read that they just connect the buyer and seller, and then I also read that they took care of everything (supplied a closing agent)?

I've bought and sold 3 SVV units. One I bought on ebay. Sold that one on Redweek. Bought the third on eBay again, or possibly My Resort Network or SMTN. Forget. Easy as pie. Just use a reputable escrow service and closing agent, then you should be fine. Generally, eBay gives you the best prices, but you should only buy from a well regarded vendor.

4) Any other resale sites to recommend? I tried Redweek and SMTN appeared to have better deals for what I was looking for.

There are a ton of places to look, including Tug Classifieds and Redweek. MRN and SMTN are others.

5) How much are typical closing costs? Are we talking a couple hundred?

I've paid ~$500, with escrow. Probably can be done cheaper.

6) I thought I read that the fee to roll over star options was around $100, is that correct? Can you roll over multiple years? Is there a limit to how many points you can roll over?

Yes, and you have to bank them by 5/31 of the use year. So if you buy now, it'll be too late to bank 2015's SOs. Banked SOs are good for 2 years, so folks who bank use year 2015 will have until 12/31/2017 to use them.

No limit to the amount you can bank.

7) Are there any benefits/disadvantages to having a floating week?

Floating is much more desirable than a fixed week for most people (except people who want to travel during Christmas, etc.) Disadvantages are that for resorts that have seasons, you can only reserve your season during the Home Resort priority period of 8-12 months out. So if you buy a platinum week and want to travel during a gold week, you have to wait until 8 months out. And you'll probably want a platinum week to get the most SOs for the years you want to exchange.

With purchase of a mandatory resort, you also get complimentary membership in Interval International. SVV/SVR and very well regarded Marriott Orlando resorts often appear as Getaways in II, where you can purchase a leftover week for cheap (e.g. $500/week for a 2 bdrm). I'd take full advantage of that, especially if I could travel in shoulder season. Instead of booking my home resort, I'd bank my SOs (for exchanging to Hawaii, etc.), and book into my home resort via II Getaways.

Wow, thank you both for your responses! It is very helpful to hear the experiences of others, I will have to check out the Tug Marketplace.

We are looking at the 67,000 SO units and wanted to roll over all of 2016's points into 2017 so we could take some family members to Harborside (we've actually been there twice using our friend's timeshare SO). And it looks like we will be able to do that if we can get a place by the end of the year.

I wouldn't buy less than 81,000 pts

Since the MF's are the same for the high reservation period and SO reservations are never not going to be available at Vistana, you might as well purchase in high season and get 81,000 SO's. If the price is significantly higher then maybe not but I think an even an extra $1000 initially would be worth having the extra flexibility of having the extra SO's for when you need them.

Thanks everyone, unfortunately we bought one before I saw the posts suggesting getting the 81,000 SO. We got exactly what we were looking for on Ebay for $1.

The seller was timesharepro and we had to use their closing agent GO Properties (which is the seller), but after doing some searching they appear reputable. Closing costs are higher than what I've read but even at an extra couple hundred it beats spending a couple thousand.

Thanks for all the advice, we'll see how it turns out (maybe get another down the line depending on the outcome).

I bought from them - my 1st WSJ week back in 2006. Thru eBay - all worked out okay. Here now... born to drive left.