# Welk Resorts Platinum Points



## ljlong15 (Feb 26, 2015)

Hello,

My friend a few years back purchased directly from Welks. I told her about this website and the resale market but she said she was happy with her purchase.  Anyhow, now she would like to sell it.  She has 240,000 points annually.  Her maintenance is $1250.  She paid around $30,000 I think.  What do you think she may be able to get for it?  Where would the best place to try and sell it?  Thank you.


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## mjm1 (Feb 26, 2015)

You are a nice friend to share TUG with her. Now trying to get some market info for her. Sorry to hear it hasn't worked out as well as she had hoped.

Redweek.com is one good place she can post it for sale. She would have to join for $15 per year and pay a small fee to sell it. I just looked and most points listed are unrealistically priced. 240,000 points are listed for as low as $3,500, which is pretty realistic, and some are listed for $15,0000. I haven't seen any sold when I look at their listings there. Remember, these are asking prices. A potential buyer can offer anything they want.

Whatever she does, she shouldn't pay anybody anything up front. Agents/ brokers asking for that are scam artists. True sales people will take a 20% commission, usually with a minimum amount that I have seen of $2,000- 2,500. Some could be a bit different.

As everyone on TUG knows, timeshares purchased from a developer are not a good financial investment, but timesharing can be a good investment in a vacation lifestyle. The major challenge comes if one decides to sell their ownership, especially if they bought direct.

I wish your friend the best. Let us know if there are other questions.

Mike


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## TheWay.ISeeIt (Mar 4, 2015)

mjm1 said:


> You are a nice friend to share TUG with her. Now trying to get some market info for her. Sorry to hear it hasn't worked out as well as she had hoped.
> 
> Redweek.com is one good place she can post it for sale. She would have to join for $15 per year and pay a small fee to sell it. I just looked and most points listed are unrealistically priced. 240,000 points are listed for as low as $3,500, which is pretty realistic, and some are listed for $15,0000. I haven't seen any sold when I look at their listings there. Remember, these are asking prices. A potential buyer can offer anything they want.
> 
> ...


This is very interesting to me as my wife and I just attended a presentation at Welk Resorts San Diego yesterday.  In their new phase, 240,000 points are now selling for, get this, $96,000!! That's 1 week in a 2 bedroom lock off. What they were telling us is that each half i.e. each 120,000 points can be deposited into II and will get you 2 weeks in any size unit at any II resort.  They also offered to take back our 3 existing timeshares, sell us a repossessed unit which was only $68,000 for a net cost of $26,000.  

My question to any Welk owners is are they getting this II exchange deal?  If so, does it transfer in a resale situation?  Apparently, Welk had ROFR at least on their new units.  Does anyone know if ROFR applies on older units?

Thanks!


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## mjm1 (Mar 5, 2015)

TheWay.ISeeIt said:


> This is very interesting to me as my wife and I just attended a presentation at Welk Resorts San Diego yesterday.  In their new phase, 240,000 points are now selling for, get this, $96,000!! That's 1 week in a 2 bedroom lock off. What they were telling us is that each half i.e. each 120,000 points can be deposited into II and will get you 2 weeks in any size unit at any II resort.  They also offered to take back our 3 existing timeshares, sell us a repossessed unit which was only $68,000 for a net cost of $26,000.
> 
> My question to any Welk owners is are they getting this II exchange deal?  If so, does it transfer in a resale situation?  Apparently, Welk had ROFR at least on their new units.  Does anyone know if ROFR applies on older units?
> 
> Thanks!



There is absolutely no way that is a good deal. 240,000 will only get you one of the non-lock off 2BR in the Welk Resort Villas. These are nice, very big units, but they are the older section of the Escondido property. They were renovated a few years ago. A week in a 2BR unit in the Mountain Villas or Villas on the Green (VOG) requires 300,000 points. I believe 300,000 points were costing in the $30,000's, but I don't recall for sure.

Welk does have an arrangement with II whereby you get an accommodation certificate (AC) good for an extra week when you deposit a unit. A 1BR does only require 120,000 Welk points. I disagree that you are guaranteed any size unit from II for either your week that you deposit or what you received with the AC. The AC is not really free either- you pay an amount based on the size of the room you are able to reserve. I believe a 1BR costs $299. Not a bad deal, but not free. We have received some good trades using our Welk units, but they don't have the power to get into Marriott, Westin or Hyatt, at least during higher demand times. The sales people will show you reports where owners have gotten those types of trades, but I believe they are usually in shoulder or off season. Another option would be to trade a 2BR Welk through II for a 1BR at a higher demand resort/time.  That should help, but you wouldn't have the same space, which may or may not be important to you.

As I noted in my prior post, you can get Welk points for a lot less on the resale market. They may have ROFR on points, I don't recall, but they don't on the older units. Note however that the Welk Resort Units are fixed weeks (ie. you own a fixed unit and a fixed week), so you go to the same unit during the same week every year. The VOG are a floating week system, so provide more flexibility. 

Welk Resorts are pretty nice and they seem to do a good job overall, but it is generally believed that they are in a lower tier than the big players.

Do a lot of research and then buy resale.  Good luck.

Mike


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