Best value to get into sunterra

[mr1Dude Junior Member Find all posts View Profile Close mr1Dude]

Spence, Have seen lots of good posts with information on Sunterra from you that I appreciate very much. I took the sunterra tour in Tahoe at the embassey vacation resort last spring almost bought at retail, 4000pts for 10,500, they were offering the deed to San luis Bay. We liked everything, the points, the 5-star like locations, etc..... I just couldnt part with the cash.

So now about 6 months later, I have read through the forums and found out there is a good resale market where I am hoping to jump in to Sunterra for a good rate.

It seems the best way I can figure out is to buy an Epic property aka trust, then negotiate the conversion to the sunterra club for $2,995 or buying more sun options to make the deal appealing to the sales folks.

This method brings a couple of questions.
1. How many points is the epic property usually worth on average.(1 bdrm, 2bdrm?)
2. When you convert do these points convert over at the same value?
3. When you buy more points, how much do they jack up the MF's for those additional points?
4. Does it matter what location you buy in the trust, since your only buying for the points?

Is there a better way to get into Sunterra Club?

Appreciate any input you have.

Thanks,

Tony

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

At this time, I would stay away from Sunterra points. There are rumors of Sunterra going belly up again.

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

At this time, I would stay away from Sunterra points. There are rumors of Sunterra going belly up again.

I am not a financial guru, but I haven't heard the belly up stuff. Their stock is at $11.20 and that's not indicative of a bankrupt company. Are there problems, yes, is Sunterra Europe on the block, yes. I will say that I'm still buying TS, not stock (I lost my shirt in the Ch11 in 2002).

Spence, Have seen lots of good posts with information on Sunterra from you that I appreciate very much. I took the sunterra tour in Tahoe at the embassey vacation resort last spring almost bought at retail, 4000pts for 10,500, they were offering the deed to San luis Bay. We liked everything, the points, the 5-star like locations, etc..... I just couldnt part with the cash.

So now about 6 months later, I have read through the forums and found out there is a good resale market where I am hoping to jump in to Sunterra for a good rate.

It seems the best way I can figure out is to buy an Epic property aka trust, then negotiate the conversion to the sunterra club for $2,995 or buying more sun options to make the deal appealing to the sales folks.

This method brings a couple of questions.
1. How many points is the epic property usually worth on average.(1 bdrm, 2bdrm?)
2. When you convert do these points convert over at the same value?
3. When you buy more points, how much do they jack up the MF's for those additional points?
4. Does it matter what location you buy in the trust, since your only buying for the points?

Is there a better way to get into Sunterra Club?
Appreciate any input you have.
Thanks, Tony

The 'Trust' is more than just the old EPIC properties, Sunterra has folded all the EPIC conversions and unsold property as well as all new sales of many other Sunterra properties into this Trust. You can see the list in the sticky at the top. Why are they doing this Trust thing? Because then the Trustee gets to vote all the property in the Trust at each property, a big block of votes that will keep them in control.

1. How many points is the epic property usually worth on average.(1 bdrm, 2bdrm?) I don't know what the conversion was from EPIC points to Sunterra Points, you can see what each former EPIC resort points are now in the SunOptions Directory.
2. When you convert do these points convert over at the same value? I've not seen the former EPIC properties for sale per se, all the eBay auctions of current properties are for the Trust.
3. When you buy more points, how much do they jack up the MF's for those additional points?My understanding is that the CSV-1 or Florida Trust has MFs of ~6.5¢/pt.
4. Does it matter what location you buy in the trust, since your only buying for the points?Actually, when you buy in the Trust you don't own a location, you own all the Trust locations, that's one of the selling points, you get 13month ahead reservation for Trust property and 10month for all others if you buy back into the Club. You get a melded MF that protects you from big jumps at any one resort.

[mr1Dude Junior Member Find all posts View Profile Close mr1Dude]

Good info

Thanks for the follow up. Your comments raised a couple of questions for me.

If your in the trust, can you reserve in the other 80 resorts in Sunterra as long as it is less than 10months from the stay date. Or does being in the trust restrict you to the 19 resorts only?

Thank You,

Tony

[Eileen A. Member Find all posts View Profile Close Eileen A.]

Tony,

As Spence said in his last paragraph, you get the 10 months on the other resorts if you "buy into the club", ie the $2,995 conversion or buying pts thru the sales offices. Otherwise you can just use at the 19 resorts.

Spence has been very helpful. I'm in the process of buying resale after 1st buying thru the developer. I'm learning alot.

Eileen

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

Holiday Group Small Sunterra CSV-1 Trust Contracts

Holiday Group has Small Sunterra CSV-1 Trust Contracts of 4000 points on their secret End of Year sale for as little as $400 (plus $420 closing costs) but if you buy multiple there's only one CC. Ask for Catherine! Remember these only get you access to the Trust/19 resorts and you must deal with Sales if you want to get multiple properties back into the Club.

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

Holiday Group has Small Sunterra CSV-1 Trust Contracts of 4000 points on their secret End of Year sale for as little as $400 (plus $420 closing costs) but if you buy multiple there's only one CC. Ask for Catherine! Remember these only get you access to the Trust/19 resorts and you must deal with Sales if you want to get multiple properties back into the Club.

Spence - I have 3 weeks in Sunterra that is NOT in the trust. I have deeded property. I am an Elite Member using SunOptions. Is deeded Sunterra property still available on the resale market? I would think so. What relationship does the "trust" have with Club Sunterra and SunOptions.

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

Spence - I have 3 weeks in Sunterra that is NOT in the trust. I have deeded property. I am an Elite Member using SunOptions. Is deeded Sunterra property still available on the resale market? I would think so. What relationship does the "trust" have with Club Sunterra and SunOptions.

Certainly, anyone with deeded Sunterra property can sell their deeded property to someone else. Sunterra discourages this by not transferring Club Sunterra benefits that the old owner may have had and then by making the process of getting those benefits back very nebulous and costly.

As has been discussed, Sunterra, at some resorts, is starting to buy foreclosed units and take deed-backs from owners, something they had never done in the past. They are doing this to add to their new business model, the Trust, where they provide no deed to the TS buyer. They also provide no say so (read homeowner vote) to the TS buyer and thus will be able to remain in control at resorts that are turned over to owners because they will have a bloc vote which will be unbeatable.

The Trust can be viewed as a subset of Club Sunterra, if you buy it retail you get it as a certain number of points/SunOptions to be used in Club Sunterra. If you buy it resale you get it as a certain number of points/SunOptions to be used in the Trust properties. It's ingeneous.