Purchasing a timeshare resale at the Grand Lodge on Peak 7 in Breckenridge, Colorado, is an exciting opportunity to enjoy luxurious vacations while saving money compared to buying directly from the developer. However, the process comes with a few considerations every buyer should understand to ensure their transaction goes smoothly.
This guide will walk you through the key aspects of ownership, the developer’s right of first refusal, transfer assessments, and membership options, ensuring you’re well-informed before purchasing.
Grand Lodge on Peak 7 – 1 Bedroom Kitchen
Understanding Ownership at Grand Lodge on Peak 7
When you purchase a timeshare at the Grand Lodge on Peak 7, you’re acquiring what’s referred to as a time-span estate in the ownership disclosures. This specific type of ownership in Colorado grants you an undivided 1/52nd fee-simple interest in a designated condominium unit.
Essentially, this means you own one week of use per year in perpetuity (biennial ownerships are available with usage taking place every other year), making it a deeded real estate interest. This ownership structure provides the security of owning real property while offering the flexibility and affordability of a vacation ownership.
Floating Vacation Weeks
Each week of the year is categorized into various seasons, which play a major factor in determining the travel demand and, ultimately, the value of the ownership for that travel period.
Seasons at the Grand Lodge on Peak 7 are divided as follows:
- Winter Plus: Weeks 1–15 and 47–50
- Winter: Weeks 1–6, 14, 15, and 47–50
- Summer: Weeks 21–39
- Spring / Fall: Weeks 16–20 and 40–46
Occupancy & Square Footage
| Unit | Sq. Ft. | Occupancy |
|---|---|---|
| Suite | 400 sq. feet | Four |
| One Bedroom | 800 sq. feet | Four |
| Two Bedroom | 1,200 sq. feet | Eight |
| Three Bedroom | 1,600 sq. feet | Twelve |
| Four Bedroom | 2,400 sq. feet | Sixteen |
Unit sizes include suite rooms (400 sq. feet, sleep up to four), one-bedrooms (800 sq. feet, sleep up to four), two-bedrooms (1,200 sq. feet, sleep up to eight), three bedrooms (1,600 sq. feet, sleep up to 12), and four bedrooms (2,400 sq. feet, sleep up to 16).
Sleeping Arrangements & In-Unit Amenities
No matter the size of the group, Grand Lodge at Peak 7 has the right unit!
| Unit | Beds | Amenities |
|---|---|---|
| Suite | king bed & queen sleeper sofa |
|
| One Bedroom | king bed & queen sleeper sofa |
|
| Two Bedroom | two king beds & two queen sleeper sofas |
|
| Three Bedroom | three king beds & three queen sleeper sofas |
|
| Four Bedroom | four king beds & four queen sleeper sofas |
|
Floor Plans
Suite Residence
The 400-square-foot suite residence is appropriate for a couple or a small family and includes a king bed, a queen sleeper sofa, a full bathroom, and a kitchenette.
One-Bedroom Residence
The 800-square-foot one-bedroom residence also sleeps up to four and offers the added comfort, privacy, and convenience of a full-size condominium. Added amenities include a full kitchen, washer/dryer, gas fireplace, and a larger living area.
Two-Bedroom Residence
The 1,200-square-foot two-bedroom residence can accommodate larger groups. It sleeps up to eight and includes king beds in both bedrooms, two queen sleeper sofas, a full-size kitchen with an additional kitchenette, a gas fireplace, and a private balcony.
Three-Bedroom Residence
Three-bedroom residences, essentially a combination of one-bedroom and two separate suite residences, provide around 1,600 square feet of living space. Each bedroom is furnished with a king bed. Additional features include three queen sleeper sofas for extra sleeping space, a full-size kitchen complemented by two additional kitchenettes for convenience, three bathrooms for privacy and comfort, and a private balcony for outdoor relaxation.
Four-Bedroom Residence
Four-bedroom residences, a combination of two one-bedroom residences and two separate suite residences, offer around 2,400 square feet of living space. These residences boast king beds in every bedroom, four queen sleeper sofas for additional sleeping arrangements, two full-size kitchens supplemented by two extra kitchenettes, four bathrooms to ensure privacy, and two private balconies for outdoor enjoyment.
Closing Costs and Transfer Fees
When buying any ownership on the resale market, insist on using a third-party closing company that can safeguard deposits in an escrow account and ensure the transaction is performed per your purchase agreement contract. Here is a breakdown of the estimated closing costs for a Grand Lodge on Peak 7 ownership:
- Closing and Escrow Company Costs: Approximately $500
- Document Preparation Fees: $195
- Estoppel & Transfer Fee: $85
Transfer Assessments: What to Expect at Closing
As part of the closing process, buyers should be aware of two separate 1.0% real estate transfer assessments that apply to the purchase price:
- Breckenridge Mountain Master Association Transfer Assessment: This fee supports the maintenance and operations of the broader resort community.
- Town of Breckenridge Transfer Assessment: The town collects this fee, which contributes to local infrastructure and services.
Both assessments are calculated based on the purchase price and are due at closing, so it is important to factor these costs into your budget.
If you’d like to learn much more about what your closing costs cover, you can read our article here: Understanding Timeshare Resale Closing Costs: Buyer & Sellers.
Closing Timelines
Generally, the closing process takes six weeks to three months to complete. The timelines can be affected by a number of factors, including how quickly paperwork is returned by both the buyer and seller, how quickly the developer waives or exercises their right under the right of first refusal, and how quickly the county can record the new deed.
Developer’s Right of First Refusal (ROFR)
The developer’s right of first refusal (ROFR) is a critical step in the resale process. The developer of the Grand Lodge on Peak 7 has a 60-day window to match the terms of any resale agreement. This means that once you’ve agreed on a purchase price with the seller, the developer can step in and purchase the timeshare under the same terms.
While this process may add some time to the transaction, it’s an important safeguard for maintaining the property’s value.
If you’d like to learn everything about how long it takes to transfer a timeshare and what to expect during each section of the transaction, check out our in-depth article here: Timeshare Closing Timeline: How Long Does It Take to Transfer a Timeshare.
Club Membership and Exchange Options
Joining the Grand Lodge on Peak 7 Club
As a resale buyer, you can join the Grand Lodge on Peak 7 Club by paying an initiation fee. Membership in this club offers a points-based booking method, but with a high initiation fee of $20,000, many owners choose not to opt in.
Interval International Exchange Program
In addition to enjoying your week at the Grand Lodge, you can opt to participate in the Interval International external exchange program. This voluntary program allows you to trade your week for stays at other resorts worldwide, offering unparalleled travel flexibility. Whether you’re looking to explore new destinations or simply want more options, this program is a valuable benefit for owners.
If you’d like a detailed breakdown of the services offered by Interval International, and what they cost, check out our guide here: All Interval International Fees & Services 2024.
Conclusion
Buying a resale timeshare at the Grand Lodge on Peak 7 is a fantastic way to enjoy the benefits of ownership at a premier resort while saving a considerable amount of money. You can confidently navigate the process by understanding the unique aspects of ownership, the developer’s right of first refusal, transfer costs, and membership options.
If you have any questions or need assistance, contact our team of experts. We’re here to guide you on your journey to a lifetime of unforgettable vacations!
