[Sheraton Vistana Resort] timeshare purchase - good or bad?

[njjacqui21]

not sure if this is legit?

I am in the process of purchasing a timeshare. On the deed it sounds to me like the timeshare ownership is expiring in the year 2020, but I am not sure, it is very confusing. the following is a portion of the deed:

"the unit, together with all appurtenances thereto, according and subject to the Declaration of Condominium of Vistana Condominium recorded in the Public Records of Orange County, Florida, at Official Records, from 12 noon of the first day until 12 noon on the last day of the Unit Week, which estate is to be part of a succession of estates in consecutive and chronological order as described in the Declaration of condominium, it being the intent of this instrument that each Unit Week shall be considered a separate estate held separately and independently by the owners thereof for and during the period of time assigned to the Unit Week in the Declaration of Condominium, each unit week being succeeded by the next in unending succession governed by the declaration of condominium until 12 noon on October 1, 2020 at which date said estate shall terminate, unless extended by vote of the unit owners as provided for in the Declaration.

Together with a reminder over after termination in fee simple absolute, as tenant in common with the other Owners of all the unit weeks in all phases of the condominium on October 1, 2020 in that fractional interest set forth in the Declaration of condominium.

to have an to hold the same in fee simple forever"




Can anyone tell me what this means????

 

[DeniseM]

Almost all timeshares have a termination date.

Unless the place is literally falling down, normally, the BOD or owners vote to extend it for another 50-100 years.

That would not concern me the least.

 

[TUGBrian]

this thread will give you more information on the sunset clause

its certainly something to look into!

http://www.tugbbs.com/forums/showthread.php?t=224998&highlight=sunset+clause

 

[SMHarman]

I would imagine Vistana has already been extended post 2020

 

[TUGBrian]

wouldnt the CCRs have been modified if they went thru the trouble to do that already?

 

[WinniWoman]

Almost all timeshares have a termination date.

Unless the place is literally falling down, normally, the BOD or owners vote to extend it for another 50-100 years.

That would not concern me the least.

Almost all timeshares have a termination date? Really? I don't think mine do. if they did, there would be no issues with finally divesting them. Couldn't owners try to give theirs back before the Board renewed it if they wanted to?

 

[DeniseM]

Almost all timeshares have a termination date? Really? I don't think mine do. if they did, there would be no issues with finally divesting them. Couldn't owners try to give theirs back before the Board renewed it if they wanted to?

That's not how it works. Individual owner's deeds don't have termination dates - the whole resort has a termination date. Either the whole resort goes on as a timeshare or it does not. It's not owner by owner.

 

[Ty1on]

That's not how it works. Individual owner's deeds don't have termination dates - the whole resort has a termination date. Either the whole resort goes on as a timeshare or it does not. It's not owner by owner.

Yes, the Association has a termination date.

 

[njjacqui21]

Hi,

I am new to timesharing but have been interested for years.

I was going to buy Week 52 at Sheraton Vistana for $10,000. Is this a good deal?

thanks,
jacqui

 

[DeniseM]

No - It's about 10 times too much. I would not pay more than a $1,000 for this week.

 

[njjacqui21]

for week 52?

even though it is week 52? Isn't that usually the most expensive week to buy? (because of the stronger trading power?)

 

[DeniseM]

It is the most expensive week to buy, but most weeks at this resort are given away for free, so $10K is way too much.

 

[njjacqui21]

what do you think of vacation village at parkway?

the other timeshare i am looking at is vacation village at parkway, week 52 for $3,000 plus $1,350 closing costs. Do you think that is a better deal?

I thought week 52 was the best week to buy because the trading power would be the highest in R.C.I. I have been looking on websites and while i do see on this site there are some people giving away their timeshare, i have not seen anyone giving away week 52, so i figured there would be a higher price to pay for it.

What do you think is a great deal for an orlando gold crown in rci for week 52? (which resort and about how much to buy it for?)

thanks,jacqui

 

[njjacqui21]

vacation village at parkway

It is the most expensive week to buy, but most weeks at this resort are given away for free, so $10K is way too much.

what do you mean that most weeks are given away for free?

 

[DeniseM]

what do you mean that most weeks are given away for free?

I mean that on the resale market, most deeds at this timeshare are given away for free. I gave away a 2 bdm. myself, last year.

The timeshare resale market in Florida is flooded with timeshares (there are too many timeshares in Florida) so there is more supply than demand, so the resale prices are low or free.

Please clarify:

Sheraton Vistana RESORT or Sheraton Vistana VILLAGES?

What phase?

Are you buying from the developer, a company, or a private individual?

 

[taterhed]

what do you mean that most weeks are given away for free?

I mean that on the resale market, most deeds at this timeshare are given away for free. I gave away a 2 bdm. myself, last year.

The timeshare resale market in Florida is flooded with timeshares (there are too many timeshares in Florida) so there is more supply than demand, so the resale prices are low or free.

Please clarify:

Sheraton Vistana RESORT or Sheraton Vistana VILLAGES?

What phase?

Are you buying from the developer, a company, or a private individual?

Review this list of 'bargain Vistana timeshares' given away/available on TUG

http://tugbbs.com/forums/search.php?searchid=8726232

 

[taterhed]

I think somebody just saved $10k :whoopie:

 

[njjacqui21]

sheraton vistana

I mean that on the resale market, most deeds at this timeshare are given away for free. I gave away a 2 bdm. myself, last year.

The timeshare resale market in Florida is flooded with timeshares (there are too many timeshares in Florida) so there is more supply than demand, so the resale prices are low or free.

Please clarify:

Sheraton Vistana RESORT or Sheraton Vistana VILLAGES?

What phase?

Are you buying from the developer, a company, or a private individual?

I am buying from an individual, it is the sheraton vistana Resort. It is for a unit in the Courts section, so i don't know what phase. I was unable to find a cheap week 52 at this resort. I guess I will not be paying the $10k but it looked like a really nice resort. Why would you give up your week for free? The reason i am looking at week 52 is due to the trading power in rci, so my family and I can go on a vacation at this resort (that looks really awesome!) and also so that we can trade in rci to go on vacation with the grandparents (who own in rci also).

Can you tell me which resort, or resorts i should look into?
I believe what i am looking for is high trading power, low maintenance fees, and not too much for cost (or free, free is good

 

[DeniseM]

I gave the week away for free, because we weren't using it, and it had no resale value. So I gave it away so I could stop paying the maintenance fee.

Most timeshares in Orlando have little or no resale value, because Florida has too many timeshares - it's overbuilt. There is more supply than demand.

How long have you been looking for a week 52?

 

[TUGBrian]

another heartwarming thread! glad you found us in time...saving 10,000 dollars is nearly unbelievable isnt it? =)

 

[TUGBrian]

the sunset clause is indeed buried within most timeshares that were originally created in the late 70s to early 90s.

 

[mindface]

Can you tell me which resort, or resorts i should look into?
I believe what i am looking for is high trading power, low maintenance fees, and not too much for cost (or free, free is good

definitely agree with others here. the resort is ok, but the week is not worth $10k. Try eBay and you'll get much better deal, and buying from eBay actually involves much less risk, as the seller really care about his/her brand and they always ask buyer to contact them to resolve any issue before leaving a bad feedback. I already bought 2 week from eBay.

 

[njjacqui21]

week 52

i have been looking for week 52 for a while now. i am not finding it for free anywhere. i just googled and found some websites, but somehow found this website which is awesome btw. thank you for all your help!

I know there are so many timeshares in florida and after looking at this website i see some are given away for free, however, i have not seen week 52 for free from any resort, unless i am missing a website maybe?

i don't know. i just figured week 52 is our best bet for the highest trading value and i was looking for a low maintenance fee and high trade value

 

[TUGBrian]

i have been looking for week 52 for a while now. i am not finding it for free anywhere. i just googled and found some websites, but somehow found this website which is awesome btw. thank you for all your help!

http://tug2.com/ResortClassifieds.aspx?Sheraton+Vistana+Resort&ID=10745

weeks 50, 51 and 52 for sale right here on tug...all less than 1000 dollars asking price.

also appears to be a very common rental available, if you didnt actually want to own there forever.

 

[booklvr]

I own at the Sheraton Vistana and it's a very nice resort with tons of amenities. Staff are always friendly.

I'm sure you cold get a unit for a lot less than , 10K. We bought ours for $1. Found it on Ebay
It's worked out to be a fantastic purchase.