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Interested in buying a week on SMTN ?

Discussion in 'Ratings of Timeshare Related Businesses' started by GELG, Mar 2, 2018.

  1. GELG

    GELG Guest

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    Hello

    I am interested in purchasing a week on SMTN. Contrary to what many people have previously said, the prices I have seen on SMTN have been much cheaper than any other timeshare resale company. Has anyone purchased a week from SMTN in the past? Are the closing fees high? Would appreciate any advice!

    TIA
     
  2. taterhed

    taterhed TUG Member

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    Resorts Owned:
    Westin WKORV OFD
    Marriott's Grande Vista
    Worldmark x2
    just out of curiosity, what are you looking at? I'd be interested to compare and answer your question.

    SMTN is not known for being a responsive 'bargain' outlet for timeshares. That includes my personal experience.
     
  3. md8287

    md8287 TUG Member

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    Harborside Atlantis, Westin Lagunamar & Kaanapali
    I have for a few weeks been trying to get SMTN to respond to a request to buy one of their listed properties. Despite calls and emails no response. It is a better priced unit.
    My experience with SMTN is just as a seller (given above) but they hook sellers in with promise of high profits and then some sellers get desperate and cut price. You can find a bargain there occasionally - if they get back to you. Assume they will add on fees. They charge sellers over $1,000 to list.
     
  4. taterhed

    taterhed TUG Member

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    Westin WKORV OFD
    Marriott's Grande Vista
    Worldmark x2
    FWIW: I just went to SMTN and executed four 'want to buy' searches I've been carefully watching elsewhere.

    Not one of the four searches on SMTN produced a viable result at a competitive price.
    Most results were 40-50% higher than competitive results.

    BUST.

    I stand by my opinion.
     
  5. GELG

    GELG Guest

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    I am mainly looking at Marriott Resorts in Europe. Many of the weeks are listed at 3 or 4 multiples of the market price. But you do find some bargains.
     
  6. taterhed

    taterhed TUG Member

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    Marriott's Grande Vista
    Worldmark x2
    I could see that. Euro Marriott's are not the hottest property on the US markets. Especially below platinum.

    good luck....they have a slooooooooooooooow response reputation.
    I'll mention: Many of the Euro Marriott's have a facebook page or other bulletin board service (some are literally pictures of the cork-board in the resort) that puts owner/sellers in touch with buyers....
    Consider a look.

    Start with FB pages and post questions then google or call the resort directly and ask.... or ask a tugger that owns! Several Brits here that own I think.
     
  7. md8287

    md8287 TUG Member

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    Just FYI, I got a return call from SMTN today. Unfortunately the unit I wanted to buy for $300 was "no longer available" but they would be happy to put in an offer for the next least expensive one they had at $10,000. When I said no thanks they proceeded to tell me that EVERY major resort (including Westin Lagunamar) has the ROFR and this one will never get to the buyer at $300. When I told them my experience was that only certain resorts had ROFR the rep insisted he has had Westin Lagunamar exercise ROFR on one of his listings. I could be wrong but I believe this to be a false claim but presented very confidently.
    BUYER AND SELLER BEWARE.
     
    taterhed likes this.
  8. New2timeshare2

    New2timeshare2 Guest

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    UGH! I, too, found exactly what I was looking for on SMTN (right price, usage, size, location, maintenance fees). Then I found this thread. Now I don't know what to do. I'm new to vacation rentals/timeshares (as in just purchased 1st and that was a learning experience with some screw ups on my part). Anywho, I contacted SMTN about the ad with some questions. I immediately rec'd a phone call and a follow up email with this information:
    Closing Cost includes:

    · Title Company Fee $599 (charge for services rendered)

    · Transfer Fee $325 (set by the resort)

    · TBS Administration Fee $349

    Advice, please. Do these closing costs seem realistic? Since the ad was "perfect" for what I was looking for, is it too good to be true? Any and all tips, advice, warnings, etc. would be appreciated. Thank you.
     
  9. Panina

    Panina TUG Review Crew: Expert TUG Member

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    Resorts Owned:
    Hgvc Eagles Nest, Hgvc Surf Club, Hgvc Indian River, Hgvc Anderson, Sunrise Bay & Club, Chetola, Gulf Tides, Jade Tree Cove, Banyan Resort, Blue Ridge Village
    Their closing fees are way too high. With that said I am now deciding whether to pursue a property they have listed.

    If you have been looking everywhere for awhile, cannot find what you want and they are the only ones that have it, at the price you want adding in the fees, consider paying the high fees as just part of the deal.
     
    New2timeshare2 likes this.
  10. New2timeshare2

    New2timeshare2 Guest

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    UPDATE: I'm sad to report I was almost duped by SMTN. I contacted them to confirm the information in the ad (#100196591): "Annual floating week!" and "Usage frequency: Annual-every year" and "Maintenance Fees: $200". That was when I was informed it's a triennial usage. Nowhere in the ad does it mention triennial. Thank you, thank you, thank you to this user's group! Had I continued with the purchase based on the information provided instead of continuing to ask questions, I'd be suffering from a serious case of buyer's remorse right now.
     
    Panina likes this.
  11. New2timeshare2

    New2timeshare2 Guest

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    UPDATE #2: Just received an email from SMTN stating: "The seller was advised to change the ad verbiage 2 weeks ago and he has not done this as of yet." I responded that they should pull an ad if the owner misrepresents facts (aka lied).
     
    Panina likes this.
  12. tschwa2

    tschwa2 Tug Review Crew: Rookie TUG Member

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    A few in SC, VA and FL, a single resort in NC, MD, PA, NY, UT, ME, WI, and TN plus Jamaica and the Bahamas
    What resort is it? There are some resorts that you get points every year (1/3 of the total) and you pay MF every year (1/3 of the total) so in a way you do get annual use. One of my pet peeves with SMTN is that owners pay a very high fee to list and supposedly get the support of a broker but the ads are less accurate than redweek and probably more akin or worse than ebay in terms of completeness and accuracy.
     
  13. New2timeshare2

    New2timeshare2 Guest

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    It was for Stormy Point in Branson, MO. They are on a "week" basis, not points. I thought the annual maintenance fees ($200) was a pretty sweet deal! LOL
     
  14. taterhed

    taterhed TUG Member

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    Marriott's Grande Vista
    Worldmark x2
    So.....not sure where this is going, but: you can't judge a timeshare by it's maintenance fee....or something like that.

    The smart way to buy a timeshare is:
    • Figure out what you want
    • Figure out how much you need
    • Figure out how much you can afford to buy...no financing please...luxury items shouldn't be financed...
    • Figure out how much you can afford to pay every year for MF's...which go up.....
    • Gather information and advice from TUG and other reputable sources
    • Consider renting your 'desirable' timeshare locations or brands before you spend your $$$$$
    • Find a reputable seller or sales point and start shopping
    • Always get a sanitized deed, estoppel or other 'official' document to verify ownership, description and use...

    Buy once....buy smart.

    If you're starting your timeshare search on SMTN, then you are definitely looking at the wrong end of the horse. Pardon my French.

    If you haven't completed the 'what to buy ' survey under 'new to timesharing' suggest you do....it's a great help.
    Welcome.

    LOTS OF GOOD INFO HERE!!! Also the 'what to buy survey' https://tugbbs.com/forums/index.php?forums/new-to-timesharing-look-here.17/
     
    New2timeshare2 and Panina like this.
  15. FamilyEsq

    FamilyEsq TUG Member

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    Resorts Owned:
    Tamiment - Eagle Village
    ESJ - Puerto Rico
    Westin Kaanapali Ocean Resort Villas
    Westin Kaanapali Ocean Resort Villas North
    I have purchased a week at the Westin Ka'anapali Ocean Resort Villas - Ocean View every other year for $7000.00 and a week at the Westin Ka'anapali North Ocean Resort Villas - Ocean Front every other year for $9000.00. My broker Zach, made offers that were substantially less than the listed price of these units. He is extremely responsive. (PM me if you want his info).

    The closing costs are high, however they were not much more than Syed (Advantage Vacations) quoted me on a similar purchase. SMTN has a tremendous amount of inventory. I looked at their listing prices as a starting point for negotiations and always made offers I was comfortable with.

    If you get the right broker, I believe you will be pleased with the results.
     
  16. TUGBrian

    TUGBrian Administrator

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    yes that happens when ads never expire and stay online forever.
     
  17. taterhed

    taterhed TUG Member

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    Marriott's Grande Vista
    Worldmark x2
    You know.....

    It's entirely possible that SMTN is trying or working to move it's business model from the 'up-front, long term, pie in the sky' model to the 'sell timeshares in this decade and make a profit' model.

    Soooooo much bad publicity, experience and information has been circulating about SMTN, I would think that it would need to adjust at some point.

    Let's hope so. The experience of @FamilyEsq certainly seems like a move in the right direction. Let's see if it continues.

    FWIW, my experiences with SMTN were NOT fruitful, so I'm certainly not trolling for them.
     

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