II deposit, transfer.

[AJCts411]

We are in the process of taking ownership of a floating eoye week 2 bed room lockout in Las Vegas. The 2018 week must be used this year or deposited into II to preserve use for two years. The transfer will not be complete before the end of this year, and we would not likely be able to use the 2018 week before the end of the year. So it seems like depositing into II is the best option. I have a II gold account (Hyatt ownership) is there a way for the current owner to transfer their deposit (before or after) to me before closing? What about after closing, can anything be done besides trusting that the current owners will book the week in the future we request and pay a guest certificate fee? (FYI the deposit to II will be one bedroom and a studio) Any suggestions, information one can share? Thanks!

 

[DeniseM]

You can't deposit the week in your II account until the deed is in your name. The current owner can deposit it in their II account and then let you use the week, with a guest confirmation.

 

[tschwa2]

Am I wrong in assuming it is a Marriott LV timeshare? If not and the owner hasn't reserved any 2018 time, there might not be any weeks to reserve that could be deposited and even if it could be deposited it will be a late deposit that only works during flex time.

If it is a Marriott, Marriott might still have a previous deposit that can be transferred to the current owners II account. Again at this point it could be a late flex only deposit.

Most likely if they can get something deposited into their II account, you will be relying on them to make a reservation and then put a guest cert so you can use it.

At one time you could get II to transfer a deposit, when a unit was sold and transferred. Once the get proof that the unit was sold they would remove the deposit from the original owner and deposit an AC with similar trading power into the new owners account. There may have been a fee to do this. I am not sure if it is still possible but if the owner gets a week deposited and then when you get the ownership transferred you can see if this can be done. You will have to set up and pay for another II account as non Hyatt weeks cannot be deposited into the Hyatt corporate account.

This late in the year you might just be out of luck being able to get any use from a 2018 week. That is always an iffy proposition for weeks transferred in November and December.

 

[AJCts411]

Am I wrong in assuming it is a Marriott LV timeshare? If not and the owner hasn't reserved any 2018 time, there might not be any weeks to reserve that could be deposited and even if it could be deposited it will be a late deposit that only works during flex time.

If it is a Marriott, Marriott might still have a previous deposit that can be transferred to the current owners II account. Again at this point it could be a late flex only deposit.

Most likely if they can get something deposited into their II account, you will be relying on them to make a reservation and then put a guest cert so you can use it.

At one time you could get II to transfer a deposit, when a unit was sold and transferred. Once the get proof that the unit was sold they would remove the deposit from the original owner and deposit an AC with similar trading power into the new owners account. There may have been a fee to do this. I am not sure if it is still possible but if the owner gets a week deposited and then when you get the ownership transferred you can see if this can be done. You will have to set up and pay for another II account as non Hyatt weeks cannot be deposited into the Hyatt corporate account.

This late in the year you might just be out of luck being able to get any use from a 2018 week. That is always an iffy proposition for weeks transferred in November and December.

No it is not a Marriot.

 

[AJCts411]

Thanks for the info, and confirming that the sellers will have to issue a guest certificate (for the 2018 use). Not too much of a risk to me. I'm wondering just how to "search" for possible / available traders with out the deposit in my account? ( This will be deposited as a 1 week and a studio.)

 

[Tacoma]

It will be impossible to search without them in your account and since the seller is doing you a favor to preserve your week(s) I would choose trades that are relatively easy to get. I did something similar with a worldmark points transfer. I accidentally bought more points than would transfer into my account so the seller booked a long weekend in Vancouver for me as soon as availability opened up. With my account I could see availability so I asked for something I could use that was easy to get. With II it will definitely be trickier. Good luck.

 

[sue1947]

This may be more trouble than it's worth. They would need to pay the exchange fee plus the guest fee. But that is still cheap for a week's stay if the week is lost otherwise.
If it were me: if there is a specific week at a place with lots of availability and low trading power needs that you can be pretty sure your weeks will pull, book that. Otherwise, ask them to book anything as far out as possible and add eplus. Once the transfer has finalized, you can then search yourself and when you find something, have them rebook using the eplus. That should give you until 2020 to use the week. This adds a lot of inconvenience for the seller and additional costs so it really depends on whether the seller is willing. If I were the seller, I'd put a time limit on using this week so I can be done with it.

Sue

 

[VacationForever]

As Sue has noted above, between exchange fees and guest certificates, you are looking at an additional ~$300 per exchange into a similar size unit. Depositing as 1BR and studio means that you will need to reimburse ~$600 for 2 exchanges and 2 guest certificates.

 

[tschwa2]

As Sue has noted above, between exchange fees and guest certificates, you are looking at an additional ~$300 per exchange into a similar size unit. Depositing as 1BR and studio means that you will need to reimburse ~$600 for 2 exchanges and 2 guest certificates.

and it will likely be for a late deposit only good within 59 days of check in and a low value week to start off with.

 

[AJCts411]

I was not aware that if you deposit into II there would be a $300 fee to "use" your deposit to book somewhere else. I did know about the guest certificate fee. The fees add up to about the same as the paid maintenance fees (2018). That seems like a lot of $$$ for something in a sense you already paid for.

 

[VacationForever]

There are 4 fee components of II:
- II membership fee is $89 per year, with a discount for multi-year membership. You may get a 1 year + 1 year bonus for a new II account. Your Hyatt II membership comes as part of your Hyatt ownership, your new week cannot be added to your Hyatt II account. You have to pay for a separate II membership for this new week.
- II Exchange fees. For standard II membership, the cost is $199 per exchange.
- Guest certificate is $69
- If you upsize / upgrade the size per room size, say a studio to 1BR or 1BR to 2BR, it is another $99 per 1 size upgrade

II is a third party company which provides an exchange service and as such, charges for exchanges. When you pay your timeshare maintenance fees, they are only to maintain your resort. You have not paid for an any exchange services.

 

[tschwa2]

Yes, it is rather expensive to play the exchange game and you have to have a lot of flexibility to make it work. It's one of the reasons so many believe in the buy where you want to stay at least half of the time or somewhere that you can rent out to cover your fees. Over the last 20 years the fees to exchange (and belong to an exchange company) have continued to rise and many long time exchange members are quitting and giving away what they own or trying to use what they own rather than exchange.