Just bought Royal Floridian on Ebay ... mistake?

[krmlaw Member Find all posts View Profile Close krmlaw]

Did I make a mistake?

--------------------------------------------------------------------------------

I just purchased a 2 bedroom condo at Royal Floridian, Silver Crown, in Ormond Beach (floating week, pretty much any week during the year). Only cost me $1. Its an odd year. MF $248 annually, or $496 every year we get the condo. I thought that was pretty reasonable.

This is my third ebay resale purchase. I guess I just need some reassurance that I got a good deal! And this is a nice property!

Thanks ....

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

When do you plan on using it? If you use it Jan to April I think its ok every other year. Ormond Beach is very easy to get through a trade the rest of the year.

[krmlaw Member Find all posts View Profile Close krmlaw]

We would use it during the summer. Probably in late June or July in odd years we will use it. So we wouldnt have to trade it too much.

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

The fees are reasonable but most two bedroom units in that area are. Its been awhile for me visiting the area and the properties, but I believe the units are small. Don't think your 2bedroom is big enough for 6. Good beach location. I think You should find out which are the better two bedroom units. Should have no problem getting it during the summer.

[krmlaw Member Find all posts View Profile Close krmlaw]

Looks like the units either have one king bed with an extra bedroom with a queen or two doubles. I guess it depends. Should be ok for us.

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

I not familiar with the property but for $1 plus closing and fees of $495ish - u would be be hard pressed to get a hotel room for that amount much less a 2BR - seems like a good deal for your personal use.

If u decide to trade it, be sure to reserve a Feb/March week for maximum trade power.

[krmlaw Member Find all posts View Profile Close krmlaw]

Thanks ... Im new to the trading.

Why Feb/March time? is that a better time?

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

Thanks ... Im new to the trading.

Why Feb/March time? is that a better time?

Yes, January to early April is high season in FL followed by the summer school vacation time of late May to early August.
Late August thru early November would be the lowest time of year thanks to the rainy, hurricane season.

[fredw103 Junior Member Find all posts View Profile Close fredw103]

We've been to the Royal Floridian several times, usually in Jan., just before High
Season, and we've always enjoyed it.
We own ten timeshares, mostly purchased on Ebay, and we are in RCI points and are Wyndham VIP Gold members; and I assure you that you made a good buy and a good choice.

Fred W.

[krmlaw Member Find all posts View Profile Close krmlaw]

Thanks! That all makes me feel better. I think we are going to use this one, and not trade it for a few years. It would be nice to use one of the units we own! And NOT have to pay trading fees!

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

Just saw another add (having seen your great deal...and wanting one myself ) and they mention something about a $730 reno fee for May '09. Any info on this?

[krmlaw Member Find all posts View Profile Close krmlaw]

NO ... that would be a HUGE bummer!!!! Let meknow if you hear anything.

[krmlaw Member Find all posts View Profile Close krmlaw]

I just emailed the seller, so Ill let you know. If this is true, it wasnt disclosed during the bidding process, and I will not be purchasing this unit. Ill let you know asap.

[krmlaw Member Find all posts View Profile Close krmlaw]

Just found out that they will be closed for 10 months next year, and a special assessment fee will be levied as well. Neither were disclosed during the bidding process, so I just rescinded my bid. Luckily Im an attorney and am not too worried about the seller fighting me on this.

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

That's probably gounds to not proceed with the purchase, but a seller wouldn't always have had this information. You're better off to check with the resort.

When I'm considering a new ebay purchase, I call the resort before I bid and speak with their business office. I ask what the maintenance fees will be (this number doesn't always match with seller's item), and whether there are special assessments or increases in maintenance fees expected or possible for the upcoming year. They don't always know yet - but if they acknowledge the possibility of one, even for the year after this coming year (such as when renovations are definitely planned that wouldn't be covered in the regular budget) I might pass it up until they know for certain.

OK, I was writing while you were posting - glad to hear you were able to rescind.