thoughts on purchase...

[David Yuan]

Dear all, wonder if I can have some opinion on this…

I’ve bought 3 resales over the years, 1 at Cancun – every other year 2 bedroom, 2 at svv – one is EOY 67k SO, and another is EY 81k SO.

Developer is offering to buy back the Cancun one (no SO for me) for $12,720 and the SVV 81k SO for $16,720…IF I purchase an unit from them…(WKROV 2 bedroom lock-off, OV for $67,900).

So the price would be $67,900 - $12,720 - $16,720 = $38,460

This would get me to 3 star elite, SPG gold, and 12 months booking at WKROV…(and of course the bonus SPG pts they offer, some chance to buy some more points etc).

I was at cancun last year, and they made a similar offer, but was only able (or was only willing) to take back one resort, this time they are taking back two…

Looking at resale price for similar units are about $18k…so I’d be paying extra $20k for this…

Our family do like the resort and would love to come back…but I was already able to book OF unit with our SO…so not sure if the 12 months booking window would help much…

 

[pacman777]

Dear all, wonder if I can have some opinion on this…

I’ve bought 3 resales over the years, 1 at Cancun – every other year 2 bedroom, 2 at svv – one is EOY 67k SO, and another is EY 81k SO.

Developer is offering to buy back the Cancun one (no SO for me) for $12,720 and the SVV 81k SO for $16,720…IF I purchase an unit from them…(WKROV 2 bedroom lock-off, OV for $67,900).

So the price would be $67,900 - $12,720 - $16,720 = $38,460

This would get me to 3 star elite, SPG gold, and 12 months booking at WKROV…(and of course the bonus SPG pts they offer, some chance to buy some more points etc).

I was at cancun last year, and they made a similar offer, but was only able (or was only willing) to take back one resort, this time they are taking back two…

Looking at resale price for similar units are about $18k…so I’d be paying extra $20k for this…

Our family do like the resort and would love to come back…but I was already able to book OF unit with our SO…so not sure if the 12 months booking window would help much…

Interesting offer but if it was me I would pass. Curious though if you owned 2 resale units that were higher value such as an annual 2BR Platinum Lagunamar if they would buy those back and reduce your purchase price even more?

 

[vacationtime1]

For the $38,460 you would be paying to Vistana for a developer purchase, you could buy WKORV-OF (center or corner), keep your existing properties, and have a few thousand left over.

 

[WatsonC2]

Was just at WKORV 2 weeks ago and did the Nanea tour/sales pitch. We have an EY SVV Bella with 81k SOs and they "valued" that at about $36k if I remember correctly and the price (may have been trade in inventory or Nanea-can't remember) was about $38k for 159k SOs. The second person we spoke to made it clear that there is a minimum amount of "new" money needed after trade. Its interesting to me that the after trade price is similar.

 

[Anne&Jim]

Yes, we did our owner update on Monday and were told they are looking for $70-$75K new money, although they will take two trade-ups as long as that dollar amount is met (one guy said we needed $70K per trade up, so they’ll take more of your money if you let them.) I’d be interested to know what the lowest amount of new money they’ve been willing to take as, eventually, we hope to requalify a resale with two trade ups at the same time, and aren’t even sure they’ll do that.)

 

[David Yuan]

hmm, we just did our paperwork, (they mis-spelled my name first time around), was I supposed to get some paperwork to re-qualify my other resort in? (the EOY SVV, 67k SO)....

 

[VacationForever]

hmm, we just did our paperwork, (they mis-spelled my name first time around), was I supposed to get some paperwork to re-qualify my other resort in? (the EOY SVV, 67k SO)....

They are supposed to have all the paperwork including re-qualify. If they don't give it to you, do not sign your new purchase.

 

[annually]

They are supposed to have all the paperwork including re-qualify. If they don't give it to you, do not sign your new purchase.

Minimum new money on any trade-ins or requals is $37000.

 

[darius]

Annually - can you please explain what changes for the requal or trade-in? It was (just a few months ago) $20,000 developer purchase in which you could use a trade in and requalify a week. It just needed 20K in "new money" and 25K for a the Mexican flex program (due to Mexican taxes...). Just curious what the new rules are. Thank you!

 

[DavidnRobin]

Annually - can you please explain what changes for the requal or trade-in? It was (just a few months ago) $20,000 developer purchase in which you could use a trade in and requalify a week. It just needed 20K in "new money" and 25K for a the Mexican flex program (due to Mexican taxes...). Just curious what the new rules are. Thank you!

Just because it is stated here on TUG - does not make it true. Especially if it comes from what a VSE salesperson stated trying to make a sale.

Be very cautious by not throwing good money after bad when purchasing directly from VSE.


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[bogey21]

IMHO the dollars being tossed around here are insane! But then I am the guy who bought 6 Weeks at Independent HOA controlled Resorts for a total of $8,000. Clearly the Weeks I bought are not the quality of what we are discussing here. To each his/her own I guess.

George

 

[darius]

Just because it is stated here on TUG - does not make it true. Especially if it comes from what a VSE salesperson stated trying to make a sale.

Be very cautious by not throwing good money after bad when purchasing directly from VSE.


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David,

I know this to be true because we did this just about 3 months ago now and are very pleased with the purchase. We did a resale requalify, trade-in and purchase. We have a friend looking to do the same thing and was curious if the needle had moved higher.

And one thing to add, I'd make sure anyone does their homework and completely understand what they are doing before they do it. Otherwise, it's easy to throw away lots of good money away.

However if done correctly, and eyes open it can work out really well for the buyer too.

Darius

 

[rog2867]

when I was at the Nanea tour last month the sales guy told me they needed 35k in new money. The wanted to buy back my WKORV 2bdrom lock off. Here is what I was given as a deal

118K 3br ocean front 4800MF
81K 2br ocean front 3300 mf
290k points + 90kk bonus

57k 2br resort view 2900 mf
200k points +90k bonus incentive

WKORVN OF 82K 2600 MF

 

[rog2867]

IMHO the dollars being tossed around here are insane! But then I am the guy who bought 6 Weeks at Independent HOA controlled Resorts for a total of $8,000. Clearly the Weeks I bought are not the quality of what we are discussing here. To each his/her own I guess.

George

There are all kinds of people here, some have lots of money to throw around, that is all I will say

 

[DavidnRobin]

David,

I know this to be true because we did this just about 3 months ago now and are very pleased with the purchase. We did a resale requalify, trade-in and purchase. We have a friend looking to do the same thing and was curious if the needle had moved higher.

And one thing to add, I'd make sure anyone does their homework and completely understand what they are doing before they do it. Otherwise, it's easy to throw away lots of good money away.

However if done correctly, and eyes open it can work out really well for the buyer too.

Darius

I am not doubting you, but you did bring in more new money than others have done in the past ($20K) - me included. Glad it works for you - somebody needs to keep the boat afloat.

 

[David Yuan]

I sent back the rescind letter on Monday, they got it on Wednesday....
couple of things on the contract contradict what the sales told us...one, the contract stated we'd lose our "future" year usage...which is already banked into II, not sure how they would take it back, but contract indicate they could...
the other was the waiting period for those Starpoints to show up...it'd be at least 6 months before we can use them...
but bottom line, guess 3 star elite and SPG gold just wasn't worth the extra $20k we'd pay...

 

[Ken555]

Glad you rescinded. The perks are rarely worth the expense.


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