# Resale Purchase at HGVC Flamingo



## Kdudley311 (Jun 14, 2008)

Hello:

I recently purchased 3,400 annual gold points at HGVC Flamingo for $3,051 plus closing costs.  I am waiting for the transaction to close.  The seller seems to think Hilton has ROFR at this resort, however, the boards here say there is no ROFR at Hilton Flamingo.  The seller said not to worry as he knows people at HGVC corporate and the transaction will go through.  The annual maintenance fees quoted were $834.  My questions are this:

Does HGVC have ROFR or not at Flamingo?

Are the maintenance fees assessed a dollar figure per point?  Is the reason that $834 for 3,400 points quoted because of a special assessment for renovation?  If so, what is the real annual maintenance fee for 3,400 points?

Does anyone know how much of the renovation is complete at the Flamingo?  I'm traveling there in January.  

We also own 3,400 bi-annual points at the HGVC strip.  Maintenance fees there are $534 every 2 years (because it's a bi-annual package).  I wish I would have discovered this site before we stepped up for $11,000 for those 3,400 bi-annual points from the developer.  I told the sales manager I was intending to buy resale and she indicated I would never be able to because they ALWAYS exercise their ROFR, so that's why we bit.  How naive we were..... Oh well, we did end up with one gold week and two gold weeks on alternating years, which will meet our travel needs.  I guess if you add them both together we didn't get ripped TOO BAD.   

Any info would be greatly appreciated.  I'm a newbie, but looking forward to using my timeshares.  HGVC's online booking has been really easy and it wasn't hard to get Hawaii (although I did book 9 months out).


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## jscboston (Jun 14, 2008)

Did you buy this on EBay about 2 or 3 weeks ago?  If so, I was the second place bidder.  I think you got a good price.  

There is no ROFR on HGVC Flamingo.  I hear they are exercising ROFR more frequently at other resorts.  

Maint fees are by unit type, not by points.  I believe this unit is a 1 BR gold.  Not sure exactly what the fees are.  But they are much higher per point than 7000 point 2 BR platinum, for example.  I think the difference between 1 and 2 BR is less than $100 per year, and all 1 BRs (Plat, Gold, Silver) have the same annual fees despite very different point values.  

Renovation starts next month.  Not sure when it will be done, but certainly should be by January.


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## Kdudley311 (Jun 14, 2008)

Yep, I bought this timeshare off of Ebay.  It was over Memorial Day weekend.  I was actually kind of surprised I won it... We went over to our friends' house for dinner - I knew I wouldn't be home so I put in a proxy bid.  I went on later to check, expecting to have been outbid at the last minute (I had a proxy in at $3,300).  Surprise!  I have been periodically checking Ebay since and I haven't seen one go for as cheap (always like to confirm I got a good deal).

I bid on the auction particularly because it was at Flamingo.  Just had to "test" HGVC's claim that they have ROFR at every property and ALWAYS exercise it!  The Seller was Tochoa, The Timeshare Group.  Jason, the selling agent, indicated it was subject to HGVC ROFR.  It sounds like he wasn't really sure.

The maintenance fees listed on the contract for the 3,400 points were $834.  After the points transfer into my account, maybe I should check with HGVC to see why they are so much higher than they should be?  Any other suggestions?  

We bought our first timeshare at HGVC strip in 11/07, so I'm new to timeshares.  I do love to travel!  I figured if I treated my purchase price like a "Costco membership" then I could amortize the maintenance fees per point (like $834/3,400 = x).  I didn't understand why the fees were so much higher than the strip property we purchased in November.

Thanks for your reply  Karen


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## hsintang (Jun 15, 2008)

$800+ MFs for 3400 pt seemed high?!  It's probably a silver 2bedroom... Do you know if it includes the special assessment? I know an 1 bedroom (4800 Pts) is paying ~$650 MFs


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## Aptman (Jun 15, 2008)

*No ROFR at Flamingo, only going through the motions*

I bought 1bd platinum at the Flamingo last January (4800 points for $5700), and had to go through the motions of a ROFR at HGVC.  They made the closing company fill out the form and send it in, even though it didn't apply, before they would complete the paperwork for the transfer.  It was really annoying, because it sat on someone's desk for a couple of weeks, inexplicably, before I called to find out what was going on.  It delayed our transfer by 3 weeks, but other than that, they clearly could not scuttle the deal.

From what I've read on these boards, HGVC would've exercised their ROFR for a similar price had the deal been at either of the other Vegas properties.

Congrats on your purchase, too bad you didn't discover TUG earlier.


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## jscboston (Jun 15, 2008)

I checked EBay and that is the same unit that I bid on.  Congrats on beating me to it!  I put in my last bid and left home, and came home to find I had lost it.  Guess I should have also put in a proxy bid.

The fee seemed very high to me as well.  I emailed the seller and s/he told me that it was right, though I am still skeptical.  It is a gold 1 BR week.  And it at least includes the special assessment.  But I still think it is too high.  Maybe it includes the $197 fully-loaded Hilton annual fee?  Guess you'll find out when you get your first bill from Hilton.


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## Kdudley311 (Jun 15, 2008)

It is for a gold 1 bedroom (3,400 annual points).  I have e-mailed the title company and asked them to get a breakdown of the MFs and to confirm that it includes the special assessment.  I guess I could just call HGVC and ask.... I could wait until I get my first bill but hate unknowns.

So what we ended up with was 3,400 even year 1 bedroom gold unit at the Strip ($10k from the developer) and 3,400 every year at the Flamingo ($3k) for $13k total investment; for 1 week in odd years and 2 weeks in even years.  We have 1 17 year old -- no other kids.  We often travel off season.  We like Hawaii in September (the locals say it's the best month, and it's our anniversary month).  I think this will be a good fit for us; just bummed we wasted $$$ we wouldn't have needed to if we had found TUG beforehand.

Does anyone know the FMV resale on the Strip unit (3,400 bi-annual 1 bedroom gold unit)?  I just want to know how much we took it in the shorts..... :annoyed:


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## hsintang (Jun 15, 2008)

Does anyone know the FMV resale on the Strip unit (3,400 bi-annual 1 bedroom gold unit)?  I just want to know how much we took it in the shorts..... :annoyed:[/QUOTE]


Look in TUG Classified.  I almost got an annual 4800 pt LV strip for $5900, but Hilton excised the ROFR


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## hicksville (Jun 16, 2008)

> Does anyone know the FMV resale on the Strip unit (3,400 bi-annual 1 bedroom gold unit)?  I just want to know how much we took it in the shorts.....



I think EOY goes for about 60% of every year.  

I got a 4800 point pkg at Flamingo for $7000 in April, but that was including closing of $500 and 2008 maintenance of roughly I'm guess $600 (net $5900 for the pkg).  Also got 4000 2008 points, which I don't think I "paid" for.


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## Kdudley311 (Jun 16, 2008)

Thanks - I did check the TUG classifieds.  I was reading in other forums and it looks like there are others that got soaked from various resorts so I guess I'm in good company.  At least I can add the two prices together, divide by 2 and feel better.


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## Seth Nock (Jun 16, 2008)

Maintenance and taxes are $646 for a 3400 point unit.  There is also the assessment of about $90 and the Club fee of $90 (which you don't have to pay a second time).


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## Kdudley311 (Jun 16, 2008)

Thanks Seth   Please disregard the e-mail I sent you at your web address.  The questions have been answered here on the BBS.

Karen


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