Thinking of buying resale... Is this a good value?

[kisseecathee Junior Member Find all posts View Profile Close kisseecathee]

Hi Everybody,,
I'm new to the Time Share system,, I pretty much understand the RCI and II color code weeks,, Im trying to learn about the FairField Points System... a friend offered me his Williamsburg Timeshare with 305,000 Points/ VIP membership with a $90 monthly maintance for $7500. "I think" this is a great deal,, can any of you give me any advice? Williamsburg would not be my pick of resort towns but he has said he has never used it his weeks there...and has owned it for 15 years HELP!! Would greatly appreciate it Thanks ,,Cathy

[timeos2 Senior Member Find all posts View Profile Close timeos2]

$.02 per point is a reasonable price for FF resales. Be VERY careful how the transfer is handled if you wish to maintain the VIP status. If you do it wrong it will go bye bye (not a big loss IMHO but if you are expecting it and its gone I can see where you'd be upset).

You are being offered a fair deal in a great system.

[kisseecathee Junior Member Find all posts View Profile Close kisseecathee]

How should this transfer be handled.. should we let FF handle it? Thanks Again for you input!

[mshatty Super Moderator Find all posts View Profile Close mshatty]

Cathy,

The price within the range of resale points for Fairfield, $.02 to $.03 per 1,000 points. FF's official policy is that resale points do NOT count toward VIP benefits.

You may want to join a Yahoo Fairfield_timeshare group to do research before purchasing. The group has a lot of files and information to compare maintenance fees and how to use the FF point system. It also has a lot of very experienced FF owners who can help you a lot.

The FF system is not learned overnight but can be very flexible and beneficial.

Also, a note on Williamsburg, there are special assessments on Patriots Place and Kingsgate for the next couple of years. You also need to determine if you are buying a converted fixed week or UDI points. How you reserve and what you reserve at the 13 month period will be determined by this.

[mshatty Super Moderator Find all posts View Profile Close mshatty]

Cathy

As to how to handle it, I recommend using a timeshare transfer company like Timeshare Transfer in FL. The cost to use such a company will run between $250 to $350. You really should not pay any more than this. Also, FF will require a $100 payment for transferring the ownership from the seller to you.

[kisseecathee Junior Member Find all posts View Profile Close kisseecathee]

Mshatty,, Thanks for the advice!! question?? what do you mean by "Williamsburg, there are special assessments on Patriots Place and Kingsgate for the next couple of years."

[Jimbo Senior Member Find all posts View Profile Close Jimbo]

Special Assessment

Mshatty,, Thanks for the advice!! question?? what do you mean by "Williamsburg, there are special assessments on Patriots Place and Kingsgate for the next couple of years."

What is meant by a special assessment is that the property needs additional money to get the property back up to par. Something may have happened, i.e. natural disaster, or not enough was done to maintain the property. A good property will collect enough via the maintenance fee to hold some back in reserves for unexpected or even plan repairs / renovations.

[Glitter Brunello Super Moderator Find all posts View Profile Close Glitter Brunello]

I am not a Fairfield owner, but have been considering buying into a points-based system for a while. I would do a few things first:

1. Check to see what the points you are buying would get you in terms of vacations/rentals elsewhere (how many points for a week (or days) at another resort you would want to go, when you would want to be there; you need a 'points chart' for this).

2. Look at some other points systems available for sale and do the same thing (Bluegreen and Worldmark come to mind, there are others).

3. Compare your sales price to the others available.

4. Do the same with the annual maintenance fees.

5. Look for added costs: are there additional costs to make a reservation? Cleaning fees? Special Assessments on your home resort (hard to determine, but inquire with the HomeOwnersAssociation or equivalent). Sounds like there is already some buzz about a Special Assessment at your home resort, find out how much.

6. Find out what the policy is for reserving time at another resort in the system (some allow this a year out, some 10 months, some only 6 months). Make sure you can deal with these parameters. I like to buy my airfare 11 months ahead, so this is a big consideration for me.

7. Check the ratings/reviews on the resorts in the system. Some have higher quality resorts than others, or at least a greater number. I think it's best to stay at at least one or two of the 'systems' resorts before jumping in, but that's me.

8. If you think you would want to trade for other resorts outside the system, check into how this would be achieved. This can get complicated.

9. If you would be looking to rent out some of your time, check on policies re this. RCI points members are not allowed to rent out time booked with points. Fairfield is also owned by Cendant (RCI's parent), though I believe that rentals are permitted, at least for the time being. I know I'm gonna upset the Fairfield owners out there, but the Cendant affiliation is one of the main reasons I won't buy Fairfield.

I'm sure there are other things to consider, but that's my list for now.

[mshatty Super Moderator Find all posts View Profile Close mshatty]

Avery,

The Cendant ownership of RCI and Fairfield certainly impacts their relationship and business model. It will be interesting to see what happens with the Wyndum(?) split off. I'm a FF owner and am not insulted by your reason for not owning FF. However, I am pleased with the system.

Cathy,

Avery makes a lot of good points you should consider. If you have not researched FF's point system, you really need to do so before purchasing any points. The package you have been offered is in a reasonable price range. BUT you need to understand the system before you buy so you know what you are getting for your money; and what you can and can't do.

[SOS8260456 Moderator Find all posts View Profile Close SOS8260456]

Cathy,
Lots of good advice here. I do think that you could probably do better in price and I also want to say that the chances of that account retaining VIP status after the transfer is slim to none no matter who handles the transfer. If I were you, I'd first determine if the VIP status is super important to you. If it is not and you do end up getting it, then it will just be icing on the cake.

I was always very happy with my FF ownership. However, there have been things I have been hearing lately online that do not thrill me and that are giving FF a bad reputation. None of them have affected me personally yet, but if these things ever happened to me, I would be very up in arms. My biggest concerns are the fact that they appear to have a problem with overbooking units. They also are not providing sufficient alternative accomadations when this problem occurs unless very vocal public complaints are made.

Just some things to consider.

Lisa

[kisseecathee Junior Member Find all posts View Profile Close kisseecathee]

Avery,, you suggest ". Check the ratings/reviews on the resorts in the system. Some have higher quality resorts than others, or at least a greater number. I think it's best to stay at at least one or two of the 'systems' resorts before jumping in, but that's me." How can I get in to check these out.. usually if you sign up for a 3 day 2 night stay.. you usually can't stay at the actual timeshare.and can only check it out on a short 10 minute visit, can I contact FF and ask for a list of properties within driving distance from PA and ask for a presentation? or do you have to be refered?

[Glitter Brunello Super Moderator Find all posts View Profile Close Glitter Brunello]

Avery,, you suggest ". Check the ratings/reviews on the resorts in the system. Some have higher quality resorts than others, or at least a greater number. I think it's best to stay at at least one or two of the 'systems' resorts before jumping in, but that's me." How can I get in to check these out.. usually if you sign up for a 3 day 2 night stay.. you usually can't stay at the actual timeshare.and can only check it out on a short 10 minute visit, can I contact FF and ask for a list of properties within driving distance from PA and ask for a presentation? or do you have to be refered?

You can do a promo tour, or you can rent from an owner; there are a number of rental sites available, but since I am fan of this site, check out this ad for starters:

http://www.timeshareforums.com/sr_cl...p?do=ad&id=114

For available promo tours, check out www.fairfieldresorts.com, click on "Preview Vacation." They will probably only allow you one promo tour.

edited to add: as for staying in a hotel vs at the resort itself, some companies are better than others about this, and it depends on availability. When you call to book, request the resort itself. If it's not prime season, they should be able to accommodate you.

Avery

[Glitter Brunello Super Moderator Find all posts View Profile Close Glitter Brunello]

Also, RCI frequently has rentals at Fairfield Williamsburg, these are on Extra Vacations. If you are not an RCI member, your friend should be able to book this for you if he/she is a member:

Fairfield Williamsburg at Patriots Place
725 Bypass Road (Route 60)
Williamsburg VA 23185
USA
Phone: 757/220-5300
www.fairfieldresorts.com
S 2 / 2 Partial 07/01/2006 $654.49
1 4 / 4 Full 07/09/2006 $819.99
S 2 / 2 Partial 07/15/2006 $699.99
S 2 / 2 Partial 07/22/2006 $699.99
1 4 / 4 Full 07/23/2006 $819.99
S 2 / 2 Partial 07/29/2006 $699.99

There are also plenty of October/November weeks for around $300

[Glitter Brunello Super Moderator Find all posts View Profile Close Glitter Brunello]

One last thought, $90 a month brings your annual maintenance fee to $1080. Imho, that's a big chunk for a newbie... I don't know how much time those points will give you, but it should be a minimum of 2 prime weeks, preferably more, with those MFs (and purchase price).

[mshatty Super Moderator Find all posts View Profile Close mshatty]

Williamsburg MF's

Cathy,

You did not identify which FF Williamsburg resort your friend has the points at. Here are the maintenance fees for 2006:

WILLIAMSBURG
*3.75/k GOVERNOR'S GREEN (UDI Points)
*3.36/k KINGSGATE (UDI Points)
$296 KINGSGATE - A UNIT (converted week to pts)
$398 KINGSGATE - B UNIT (converted week to pts)
$583 KINGSGATE - C UNIT (converted week to pts)
$500 PATRIOTS' PLACE (BLD 1-17,38,39) (converted week to pts)
$520 PATRIOTS' PLACE (BLD 18-37,40,41) (converted week to pts)

In addition to these fees, you will pay a Fairfield Share Plus fee of $.53 per 1,000 points. 305 x $.53 = $161.50

Also, in addition, there are annual special assessments for Kingsgate and Patriots Place for the next year or two, including 2006.

Hope this information will help you.