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

[TUGBrian]

I was just wondering why no interest in the week 51 listed for 800 dollars....perhaps they were just stuck on 52?

 

[Ty1on]

I was looking at Rentals not Sale. :/

 

[TUGBrian]

I saw most of the 52s were rentals....but there were at least 2 resales available in the range.

 

[presley]

If someone would rather pay $10,000 for week 51 than $1500 for week 52, they should do it. Like any non necessity in life, the value is more mental than real.

 

[TUGBrian]

indeed, but this person came to TUG seeking help and advice...so it is being provided.

 

[tschwa2]

thank you for the link. there were not any week 52 for sale less than $1,000. there were other weeks and also for rents, but not specifically week 52 for sale less than $1,000. I have also searched the bargain deals, marketplace, basement deals under $500, redweek, and ebay. i am confident i have not found week 52 for sale for under $1000.

unless there is another website i have missed? i have been researching through this website which has been great! i will not buy for $10,000 but i think it will maybe cost me a $2-4 thousand for week 52 in orland, gold crown rci timeshare.

They are there but you have to keep a look out for them. I bought a week 52 fixed week 3 br lock off at Summer Bay (200 section) off ebay a few years ago. It cost about $900 but came with that year's usage. It gets about 90 tpu's if I deposit them separately. MF are under $900. If I were to sell, I would ask for more than a $1000. Last year I bought a 3 BR Orange Lake fixed week 52 East village. The buy it now price plus closing costs again were around $1000 but it came with same year usage. I was able to rent it out for more than I paid. This year is comes with free week 53 usage and I have both weeks rented out to a nice Canadian family looking for 2 weeks for 10 people. The MF with tax are around $900. It doesn't lock off so the max tpu's would be about 57 tpu's and double that with week 53 usage which only come about once in 6 years. I bought both for renting out and to use as tpu uppers as needed. I currently have about 178 tpu's in RCI so I don't need more.

Week 51 is usually much less expensive and easier to find. 3 out of 4 years you get excellent tpu's with RCI but the year it doesn't include Christmas if falls to about half. Week 51 is much harder to rent out than week 52. Your best value will be lock offs and specifically 3 br lock offs in Orlando because bigger families would rather rent one unit than 2 two bedroom units if possible.

As others have said you won't be able to book DVC Orlando units using tpu's from an Orlando resort. It is just an area restriction they have in place that RCI has agreed to enforce.

 

[njjacqui21]

They are there but you have to keep a look out for them. I bought a week 52 fixed week 3 br lock off at Summer Bay (200 section) off ebay a few years ago. It cost about $900 but came with that year's usage. It gets about 90 tpu's if I deposit them separately. MF are under $900. If I were to sell, I would ask for more than a $1000. Last year I bought a 3 BR Orange Lake fixed week 52 East village. The buy it now price plus closing costs again were around $1000 but it came with same year usage. I was able to rent it out for more than I paid. This year is comes with free week 53 usage and I have both weeks rented out to a nice Canadian family looking for 2 weeks for 10 people. The MF with tax are around $900. It doesn't lock off so the max tpu's would be about 57 tpu's and double that with week 53 usage which only come about once in 6 years. I bought both for renting out and to use as tpu uppers as needed. I currently have about 178 tpu's in RCI so I don't need more.

Week 51 is usually much less expensive and easier to find. 3 out of 4 years you get excellent tpu's with RCI but the year it doesn't include Christmas if falls to about half. Week 51 is much harder to rent out than week 52. Your best value will be lock offs and specifically 3 br lock offs in Orlando because bigger families would rather rent one unit than 2 two bedroom units if possible.

As others have said you won't be able to book DVC Orlando units using tpu's from an Orlando resort. It is just an area restriction they have in place that RCI has agreed to enforce.

thank you for confirming what i have found to be the case doing my research on this site as well as others, that week 52 is the best week of the year, highest in demand, therefore, highest trading power. (in general) I like orlando because i live close enough to drive. but i want the high trading power so in the years i wish to visit elsewhere i can do so with minimal additional fees.

and it sounds like you got some really great deals! i will keep my eyes out for the deals like you found! hopefully, i will get lucky! thank you!

 

[njjacqui21]

$1,3000 is a very big figure for closing, but you don't identify all of the pertinent details or potential underlying itemized costs.

The $150 -- $200 figure cited is a rock bottom base price, specifically with LT Transfers. While accurate, that figure is basically just for deed preparation. Recording fees and any document stamps and postage are additional, as is any fee for the escrow of purchase funds. The $150 -- $200 cited also does not include any transfer fee imposed by the resort / chain or management company ($299 for Wyndham, more than twice that amount for Hyatt, generally about $100 for small independent facilities).

Title insurance is generally a waste of money for inexpensive resale timeshares, since the policy will generally only cover the amount of the purchase price anyhow.

"Deed" merely distinguishes between right to use contract (RTU) and deeded ownership. While a deed does not "expire", the resort as a timeshare facility might "terminate" in or around 2020, unless renewed (which is usually accomplished). The sunset date is identified in underlying condo documents, not within the deed.

Hope this helps.

thank you! very informative!

 

[taterhed]

Jacqui
I think it's time to throw out my boilerplate post.
I hope this helps. PLEASE don't rush. It can be very expensive to undo a mistake that looked perfectly good at first.....

You might consider answering the questions in the post link below:

http://www.tugbbs.com/forums/showthread.php?t=208742
When you click on the link above this line, it will take you to a thread on this forum (TUG). Read the first post. It is a series of questions that you can answer to help the members of this board give you some (educated) advice. It's easy: just click the link above and hit the "quote" button at the bottom of the first post. Then, a box will pop-up will the questions in it. Just answer each question as honestly as possible. when you're done, just click the "submit reply " button under the box. Your post will then be moved to a 'new thread' where people can help you find what is right for you.

A few things to expect/consider when you complete the questionnaire:

Answering the $$$ questions honestly is important--People buy for $1 and $35k--overspending won't necessarily improve your vacation experience
You will get a lot of replies. People like to help. Don't be overwhelmed.
Depending on your answers, you may get some very strong/biased advice.
It is not unusual for people to have 'back and forth' discussions about your answers--you won't necessarily understand it all. That's normal.
There are several 'stickys' or 'faqs' that contain basic TS advice in the "New to Timesharing? Look Here!" section. suggest you read these first.
You don't need to be an expert in timeshares to own or enjoy them...
No rush. Take your time. Don't Ebay (or SMTN etc..) something and regret it later.
that's it for my advice...oh, one more thing:

If you're concerned about a vacation next year or 2 years away, many here can steer you to a great rental that might cost no more than it would if you owned the timeshare--without the purchase price.

cheers

 

[theo]

I doubt there is any such thing as a perpetual timeshare. In reality it's impossible anyway. I thought the HOA docs always state an end date which is then renewed but maybe it depends on the state. The ownership of the property itself can be indefinite but you can't use 1/52 of a space without the timeshare arrangement.

Believe it or not, I personally know a place in coastal SW FL which voted a year or so ago to change its' looming sunset date to instead become "timeshare in perpetuity". The vote for that change passed by only the slimmest of required margins, but pass it did. The Board then next declined to renew their long standing contract with a well known national management company, replacing them with a small, virtually unknown regional entity. Something odd in the drinking water there maybe? I dunno.

A uniquely ironic approach and decision on "termination" in that particular instance, since the original part of the (multiple phases) property is very old and tired, actually sub-code in numerous aspects and overall in dire need of serious upgrading. Ain't no "perpetual" ever gonna happen there --- no matter what their voting decided.