Fairfield Offer

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

I am new to timeshare and forums as well.


I was recently trying to rent various Fairfield Timeshares from internet websites. I was not able to get in any of the four, but I did learn a few more things and received an offer to purchase one.


This offer from a Fairfield owner...then I have a few questions for you below:


I have 203,000 points, deeded for life at Sea Watch in Myrtle Beach. This means that you have first choice, or preferential treatment in reserving for Sea Watch, 13 months in advance. These points do not expire, and can be used in the Fairfield system, which is now incorporated into the Wyndham system, as well as the RCI system. The points do not have to be used every year, but can be rolled over or banked into the following year, into RCI. Because of the value of the points, you can have a full week at the beach, and not have to pay anything except the monthly maintenance fees. Right now these fees run just over 90 dollars a month. If you need to buy additional points, you get them at a discounted rate.

My wife and I discussed it and would love to sell it to you for 1000 dollars. This will get the monthly maintenance fees off of us, and you can use the points we have remaining for this year. It is around 100,000 points, because we had someone go to the beach earlier in the year, and they used our points.




These people say I can use the points for RCI?? Are the conversion points the same or different?



Are there additional costs to deeding?



Monthly maintenance fees seem high?



After my rental experience it seems to me the Fairfield timeshare is overbooked. Most owners said I needed to book these resorts 10 month in advance?



I have always wondered what happens to my deed and money if they sell the individual home resort or the entire business?



I have also wondered what happens when the management company does not keep up on the painting, cleaning, carpet, upgrades, etc. We stayed at a timeshare meeting in Florida. The unit they put us in was terrible. The new ones they were trying to sell were of course new.


What is you opinion of this offer and questions I should ask the owner.




Thanks,




Razor

[rklein01 Senior Member Find all posts View Profile Close rklein01]

What they're telling you is about 95% true. The points don't never expire - - in fact a year's points are only good for Fairfield reservations in the 12 months that they belong to. But you do also have the option of depositing the points into RCI weeks if you don't want to make the Fairfield reservation, and like any RCI weeks deposit that lets you exchange for a week anywhere in the RCI Weeks system (and with quite good trading power) one year behind and two years forward of the deposit.

Fairfield Seawatch maintenance and dues in 2007 are $5.30 per year per 1,000 points (44 cents per month per 1,000 points) so the $90/month is accurate.

And if Seawatch is where you want to vacation, now and then, the 13-month booking window that home resort owners get will provide availability if you call in on the first day of the 13th preceding month. (The booking window for non-home resorts is 10 months).

The going rate on Ebay for 203,000 points at Seawatch is about $3,500 to $4,000, which makes their offer possibly seem too good to be true....

For more info, join the Yahoo Fairfield group and review some closed Ebay sales.

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

These people say I can use the points for RCI?? Are the conversion points the same or different?

These are FairShare Plus points, not RCI points - quite different. They may be used to make "weeks" deposits into RCI Weeks.

Are there additional costs to deeding?

If they are not using a closing service, probably $150 or so for Fairfield ownership transfer with a Warranty Deed or Quit Claim Deed and you'll need to do your own "due dilligence" to make sure the ownership is paid up, belongs to these people, has a clear title, etc. If using a professional closing service with escrow and title search, figure another $250-$500 for that.

Monthly maintenance fees seem high?

Not for oceanfront, which has higher insurance costs.

After my rental experience it seems to me the Fairfield timeshare is overbooked. Most owners said I needed to book these resorts 10 month in advance?

As an owner there, you could book in the ARP 13 month window.

I have always wondered what happens to my deed and money if they sell the individual home resort or the entire business?

This resort is sold out to owners (some are whole ownership condos, btw, not all timeshare) and managed by Fairfield. You retain ownership of your percentage, regardless.

I have also wondered what happens when the management company does not keep up on the painting, cleaning, carpet, upgrades, etc. We stayed at a timeshare meeting in Florida. The unit they put us in was terrible. The new ones they were trying to sell were of course new.

If it gets bad enough, the owners need to vote the existing management company out and a new one in. It's happened at some timeshares, including certain phases of Fairfield resorts.

Razor, if you don't want this deal, please direct the owner to post an online ad "for sale" here or at TUG. They could sell this ownership (if there's no outstanding mortgage or unpaid fees) in a heartbeat for $2,000 or more!!!! eBay is an option as well. Email me with further contact info if you don't want to be involved.

Also, there are surely several people on the Yahoo! group for "Fairfield_timeshare" owners who would be interested.

[bookworm Member Find all posts View Profile Close bookworm]

This is a fantastic deal for that particular resort. If MB in the summertime is what you are looking for, it makes good sense. If not, you can get resale points packages at other resorts for lower maintenance fees. The price is good though, I agree that they could probably get $3000 for this at least.