NC timeshare information

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

eBay: FAIRFIELD POINTS Wyndham NORTH Carolina RED Timeshare (item 260114650680 end time May-08-07 17:00:00 PDT)

I saw this listing, i think it is a good deal, but i seem like it have a hard time selling it compare to other Fairfild TS. is there something bad about this one?

[philsfan Administrator Find all posts View Profile Close philsfan]

It's all about what you want it for

If you're looking for 154K Fairfield points and the price looks good, then do some due diligence. Call the resort to ask about special assessments, verify the mf's, ask when they last refurbished the units and if there are any planned refurbs in the future.

Contact the seller and verify the additional costs that are in the auction listing.

If 154K FF points gets you to all of the locations you want to vacation in units that are large enough for you and everything else seems good, take the low price and be happy. If it looks like the kind of place you would visit, even better.

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

Thanks Philsfan!
I called the resort and they said they're refurbish every 5 years and they're planning to refurbish this year but there is no other SA fee. is that sound right? I thought when they're due for refurbish , the MF fee will increase.

[philsfan Administrator Find all posts View Profile Close philsfan]

Any Fairfiled experts out there?

If the resort is well managed, the mf's are set so that the cost of periodic refurbs is built in. In that case, overall age of the resort, inflation and natural disasters drive mf increases and special assessments. The older a resort becomes, the more likely major repairs will be necessary.

You've got some time before the auction closes, let's see if some Fairfield experts will give any additional advice. The only risk in waiting is that someone will bid more than the buy it now price, if that happens, another deal is gonna show up soon, don't worry.

[SOS8260456 Moderator Find all posts View Profile Close SOS8260456]

One thing to note is that with converted fixed weeks, the maintenance fees are paid one year in advance. What this means is that the monthly payments paid each month in 2007 are actually for 2008 maintenance fees. It sounds like you will be getting the 2007 points, but only need to reimburse the monthly fees paid in 2007 which are for 2008 points. It sounds confusing, but I wanted to point out another "bargain" part of this auction. Technically, the seller could have asked for reimbursement of all of the 2007 fees that were paid last year plus those already paid for 2008.

Lisa

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

Mike Neyner owns that resort, you can search his post in the Yahoo group. I don't believe they are in any short of reservation funds. The MF is in the reasonable range. I have no idea why the seller (which is one of the post card company agent) wants to get rid of it using $10/1k.

The post looks O.k. I will ask to get contract number and verify with resort to make sure it is not a EOY contract. The resort is old resort, thus there are a few converted week, and if the contract contains 2 week, it is bad one, otherwise it is very reasonable deal.

Jya-Ning

[Lisa P Senior Member Find all posts View Profile Close Lisa P]

We own a converted fixed week (summer wk 33, 2BR) at FF Harbour (Sandcastle Cove) worth 154K and we're NOT selling ours! We've had it nearly 10 years. It had a small special assessment a few years back ($150?) but none since. Maint fees have gone up a very modest amount each year. It's been a very good ownership for us.

Write the seller and ask:

In which phase or section of FF Harbour is the unit? Some are FF/Wyn managed, some VRI - call directly to find out (ours is VRI-managed, even though we get annual FairShare Plus points).

What unit size? Is it a lock-off, a 2BR w/loft, etc.? Make sure it's a single red week in a 2BR and not 2 blue weeks in 2BRs. This will mean lower maint fees for the points and less if there are any special assessments in the future for each unit-week.

What specific week is deeded? This will determine your ARP privileges for that week. Contact the resort directly and ask if everything is clear and paid up for the week.

Add together your bid price, the closing costs and transfer fees. A total under $1500 is less than 1 cent/point (awesome!) and a total under $3000 is still under 2 cents per point, reasonable for resale w/good maint fees. HTH.

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

Holly Hell!
I didn't know that is a Converter fix week. The whole time I thought it was UDI contract. I definately still have alot to learn. Guys, I can't thank you enough.

Jya-Ning wrote:
"The post looks O.k. I will ask to get contract number and verify with resort to make sure it is not a EOY contract. The resort is old resort, thus there are a few converted week, and if the contract contains 2 week, it is bad one, otherwise it is very reasonable deal."

Just for curiosity,What is EOY mean? End of year? why a contract contain 2 weeks is bad?

Is anyone can link me to the thread of converted fix week so I can study it and do my homework.. I tried to search but I couldn't find the good one yet.

[Carol C Senior Member Find all posts View Profile Close Carol C]

Didn't they have a special assessment this last year? Make sure you won't be on the hook for reimbursing that. Of course the seller isn't saying that, so maybe it's been absorbed into the sales price already. If so it looks like a good deal, imo.

P.S. EOY means every other year. Many timeshares are sold that way, so you get to use a week or your issued points once every other year.

P.P.S. I organized a Fairfield/Wyn chat back on April 18. Were you on hand for that? If not you might want to read the transcript on this website...very informative. Click here: http://www.timeshareforums.com/forum...tml#post129597

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

EOY means Every Other Year; it could be an odd or even year. This means you only get to use the points every other year.

The way FF does handles an EOY contract, you use every other year but you will pay MF every year. What is actually done is you get a contract for 1/2 of the points. If you purchase a 154,000 point EOY package, your deed will show your annual points to be 77,000 points. You pay MF on 77,000 points each year. But you can only use the points every other year, thus 154,000 points. The deed will state whether the year is an even or odd year usage.

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

We have been watching these ebay auctions and are planning to buy Fairshare points very soon. I cannot believe the difference in the maintenance fees from one resort to another.

[SOS8260456 Moderator Find all posts View Profile Close SOS8260456]

EOY means Every Other Year; it could be an odd or even year. This means you only get to use the points every other year.

The way FF does handles an EOY contract, you use every other year but you will pay MF every year. What is actually done is you get a contract for 1/2 of the points. If you purchase a 154,000 point EOY package, your deed will show your annual points to be 77,000 points. You pay MF on 77,000 points each year. But you can only use the points every other year, thus 154,000 points. The deed will state whether the year is an even or odd year usage.

Actually, the one EOY contract that we own is for 140,000 odd year points and the deed shows 140,000 points and is noted as odd year with an O. The deed also actually states that E is for even and F is for full allotment (which I guess is annual).

Now on FF 's books, it shows 70,000 points annual, but we get 140,000 every odd year.

Lisa

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

In which phase or section of FF Harbour is the unit? Some are FF/Wyn managed, some VRI - call directly to find out (ours is VRI-managed, even though we get annual FairShare Plus points).

What unit size? Is it a lock-off, a 2BR w/loft, etc.? Make sure it's a single red week in a 2BR and not 2 blue weeks in 2BRs. This will mean lower maint fees for the points and less if there are any special assessments in the future for each unit-week.

What specific week is deeded? This will determine your ARP privileges for that week. Contact the resort directly and ask if everything is clear and paid up for the week.

his unit is deeded week 16 unit number 12 in building 2, FF Harbor, Anuallly

[SOS8260456 Moderator Find all posts View Profile Close SOS8260456]

That doesn't sound right. When you look at the points chart, week 16 is only worth 126,000 for the largest size unit, not 154,000. So either the week is not worth 154,000 points or the week/unit info is incorrect.

Lisa

[philsfan Administrator Find all posts View Profile Close philsfan]

That doesn't sound right. When you look at the points chart, week 16 is only worth 126,000 for the largest size unit, not 154,000. So either the week is not worth 154,000 points or the week/unit info is incorrect.

Lisa

Yikes Kieu, I hope you didn't pull the trigger yet!