Hacienda del Mar week for sale for $1.00 but...

[pogg]

A friend wants to sell her studio floating week at Hacienda del Mar resort in Cabo. She has offered to sell it to my daughter and son-in-law for $1.00. They would need to pay the transfer fees. What are the transfer fees based upon? Approximately, how much would the transfer fees cost? The maintenance fees are $477 a year. My daughter and son-in-law would mainly use this week for trading purposes, but could they get any good exchanges with it? For example, could they get a beach week in the summer? or a ski resort in the winter? A studio in Cabo seems like it might be an easy exchange which would make their trading power fairly limited. Am I thinking straight or missing something?

Also, would they be able to trade for anything larger than a studio? Right now they have a baby so a studio is okay, but eventually they would want to trade for larger units.

One dollar for a timeshare week seems like a steal, but factoring in annual maintenance fees and RCI membership and exchange fees if you can't make any good exchanges, the deal becomes much less attractive. I'll like to hear from some tug members with experience in the Cabo market. Any thoughts or advice on this? Thank you.

 

[Karen G]

Approximately, how much would the transfer fees cost?

The transfer fee is probably not much. I just paid $100 to have our Cabo timeshare transferred to our family trust. Most Mexican timeshares are right-to-use and not deeded, so transferring it to someone involves just changing the name on the resort's records. There is no deed to record.

But, I don't know if this deal is that great for your daughter and family, especially since their goal is to trade it. With all the rentals RCI and others are doing now, one can often find a timeshare rental that is less than the annual maintenance fees plus exchange fees. A studio is fine for a couple but when you add kids to the mix, you need more room.

The friend who is offering to sell the unit for $1 must really want to get rid of it--that's kind of a red flag right there. If someone really loved the resort, intended to go there every year, and needed just a studio, it probably would be a good deal. But for the young family you describe. . . not so much, in my opinion.

 

[philemer]

Plus, MX resorts are not well known as great traders. Have them track ebay timeshare sales for awhile and see how many they can buy for $1.

Phil

 

[DaveNV]

I stayed at Hacienda Del Mar last year, and I have friends who are returning to the US tomorrow after a week there. My brother and sister in law own a studio week there, and they've just returned from their second week there in two years. I would definitely stay there again. Rooms there can rent for up to $400 a night. (But can be had for much less in the discount rental market.)

If you haven't checked it out, the HDM is a really nice place. Not five stars, but I'd rate it at least four. It's adjacent to a Sheraton hotel, has numerous restaurants, five swimming pools, gym, spa, great golf next door, and it's right on a really nice beach.(Great for walking on, but not for swimming - that part of Cabo has riptides.) It's located on the corridor between the two towns. The website is www.haciendadelmar.com.mx

The studio units are quite large, as studios go. Two excellent queen beds in the sleeping area, a split bath, and lower-level living room. Small kitchenette with the right appliances. Two large TV sets (one in the LR and one in the sleeping area.) The units have a patio or balcony, (some have both), and many have partial views of the ocean.

Is it worth a dollar plus $477 a year? If you plan to use it, I'd say yes. If the intention is ONLY to trade it, you can do better. Trading Cabo is always sketchy because there is so much inventory.

Here's an alternate idea: Check eBay for the studios at Kuhio Banyan Club in Waikiki. They can be purchased for a few hundred dollars (tops, and often for less than a hundred dollars.) Current MFs are about $450 a year. Best thing is it's deeded, (not RTU), it's a Hawaii-Red week, and it trades pretty well on RCI. You'd have no trouble getting your ski or beach week elsewhere. That was what I traded to get my friends the week at HDM this past week. But if you'd like to see Waikiki, it's only two blocks from the beach, and is pretty centrally located. I stayed there this past Spring. Not fancy, but convenient. And it does trade up - I've gotten 2BR units with it - including others in Hawaii.

Hope this helps,
Dave

 

[Blondie]

Well, what is the flaot season for the unit? A studio in Mex will not be a terriric trader and it would depend on the week(s) of use I would think.

 

[Kenrabs]

If your looking to trade, I wouldn't do a studio especially with that maintenance fee. If your looking to trade buy a fixed summer beach week with no less than a 1 bedroom and if it's a 2 bedroom make sure it is a lock-off. Also don't try to tell the Cabo timeshare sharks that they don't have great trade power. I got in a argument over that at a presentation.

 

[pogg]

Thanks everyone for the quick responses. You confirmed what I was thinking. For a trader, not such a good deal. It's a nice resort and it would be a good deal if you wanted to use it every year. But, they would probably only go there once as they like to try new places. I think my friend bought it on an impulse (from the developer in 2005) and never used or traded it.

I'm going to tell them to pass on this "deal"!

 

[lovemylabradoodle]

I just wanted to let eveyone know I have had excellent luck trading with a Club Regina studio. I have traded to get Orlando over Thanksgiving at the Hilton on I-drive as well as X-mas week in Nuevo Vallarta. I always bank my week atleast a year in advance. Therefore, if you plan ahead you can make excellent trades. I have never tried for Hawaii, or Carribean. WE prefer Mexico and Orlando area.

 

[breddymn]

Any post offering to buy or sell something is considered an ad and is not allowed in this forum. You may contact any poster privately by clicking on his/her name. Karen G