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I am considering a purchase of a Diamond resort in Branson (Suites at Fall Creek). It is listed as a floating week, available year round according to the owner. What questions should I be asking?
Thanks so much.
Thanks so much.
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What questions should I be asking yourself? Why? Unless you want to travel there regularly from Florida, there is no reason to buy or even be paid to take that resort/ownership.Originally posted by grest -
Okay, that's a pretty strong reply....can you say why you feel this way?Comment
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What is the plan?
- Why is the owner selling? (High fees? Poor trades? Doesn't want to use?)Originally posted by grest
- Branson is a very overbuilt area so trade value is low almost regardless of season.
- Not one of the better resorts in an area with plenty of choices
- Easy to get by rental or trade. How does annual fee/purchase cost compare?
In this environment taking on an obligation to annual fees is a major step. Do you plan to visit every use year and feel the fees are a bargain for that use? If not, what is the plan? Owning any week to trade is a bad idea and owning a week in an area that is over timeshared is a really bad idea for trade.Comment
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The owner just isn't using the timeshare at all, has three weeks banked and unused (lockoff unit). MF @ $560. I don't mind trading, and have only actually used one resort we've owned. But you're right, this area is overbuilt and I think I'll just not go on with this.
However, part of my question related to the whole DRI idea...
Thanks.Comment
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DRI Club has been a good idea for our use BUT we had bought in back when Sunterra was first getting it started, got a great buy in price and did not have to give up our deeded ownership to join.Originally posted by grest View Post
Now it's around at least $3000 (more than 3 times what we paid) and in addition they may, it is not clear, REQUIRE that you give up your deed as part of the process. If so then it is a no sale for us. By giving up the deed you lose the protections of a deeded ownership, the right to sell to a third party and your voting rights. All for an additional overhead of Club/Trust fees and a RTU type contract for a rather large sum of money. No thank you.
One of the reasons that the system is not attractive at the higher price, even if they DON'T require the relinquishment of the deed, is that you cannot transfer it to another owner. So whatever you pay to join THE Club is lost money when you go to sell. All you have is your underlying deeded ownership. So at $1000 - ten years out - we're "losing" $100 or less should we sell or drop THE Club. We got our money out of that. At $3000+ the payback is 3 times longer, again if they even offer that option. Plus the new buyer would have to pay the $3000+ again to rejoin. Sorry, but we're not in timeshare to generate income for DRI. We expect them to operate a good system (they do) for a reasonable price (that has recently become a borderline issue as fees skyrocketed nearly 100% a couple years ago - no increase this year thank heavens) and to have a resale value when we have to get out (Nope). They are about 50% there as you can see.
I would not join today if the price was more than $1500 even without giving up the deed but thats just our threshold. If you get enough points the $3000 /no give up deed option can be a good deal.Comment
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Thanks...that's the kind of stuff I need to know. I appreciate your telling it.Comment
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Originally posted by grestThere's a reason that they have three weeks banked and unused, they aren't getting what they want. If you're using it to trade and your MF is $560 for two deposits per year and you like what you can get in the last minute window, go for it.Originally posted by grest View Post... not enough time for all the timeshares ®Comment
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