Getting Ready to Make My First HGVC Purchase!

[dja1980]

Hello Tuggers! I’ve been doing A LOT of reading here, and this is my first post!

I’ve been working with Judi K. on purchasing two HGVC resales: one for my wife and me, and one for my parents. My parents were actually down in Orlando a few weeks ago and purchased retail from Par Soleil ($25,990 – 4,800 Annual Platinum, 14,000 Bonus Points). After they told me the details of the program, I got excited to make a purchase myself, and we signed up as a referral through my parents.

When I get excited about something, I start researching. Fortunately, my research eventually led me to Judi, and she was able to help my parents get out of their retail contract. My wife and I did our HGVC presentation last weekend, and we stayed at Tuscany (we LOVED Tuscany). We actually got the pleasure to meet with Judi and her husband the day before our presentation.

Now that we’ve gotten our taste of HGVC, we’re ready to move forward with our resale purchases. We’ve got 2 pending contracts that we will probably put deposits on next week ($12,000 – 7,000 Annual Platinum Tuscany AND $7,500 – 4,800 Annual Platinum Tuscany). From everything I’ve read, it looks like this will be the best we can do with current resale prices. Judi believes we have a 50/50 chance of getting past ROFR.

I think I’ve learned just about everything there is to know regarding the program, MFs, ROFR, etc, but I figured it wouldn’t hurt to post what we’re looking to buy. If anyone has any suggestions or advice, I would be happy to hear it. Thanks in advance… Dave

 

[phil1ben]

Just bought a 7000 point package through Judy in March. She knows the HGVC ROFR line as well as anyone. I am sure she gave you the price closest to the line that she thought would pass. No problem if it does not. Just make another offer slightly higher on another unit. There are plenty for sale. Took me three offers (two ROFR exercises) to pass. Judy is trying to cut the best deal for you but she cannot give any guarantees as to whether HGVC will exercise. She did a great job with me. In my opinion spend the extra few bucks and get title insurance. Good Luck.

 

[Talent312]

Excellent !
Fine selection of a broker, by all accounts.
Fine selection of a program, which by now you realize is almost too flexible.
Fine selection of a home resort, as Orlando+Vegas have the lower MF's.
Fine selection of a season, as Plats pay the same MF as anyone in the same size unit, but get more points.

Just remember, points are points, which means the only thing you'd lose by booking a club-resort over you home resort is the 3-month home reservation advantage. Many rarely book their home resort, preferring to vary their travels.

 

[jrc]

A 7,000 point Flamingo week 52 just went for $9,500 on eBay. No ROFR there, but many find that owning at a specific resort is worth the slight premium ROFR imposes.

Some also find using a reliable broker is better than some of the eBay sellers.

Judi is a great choice and wonderful at answering questions and presenting options, though I haven't had the pleasure to purchase through her yet. An EOY HHV 4800 that let's me book Christmas is proving elusive.

 

[hurnik]

A 7,000 point Flamingo week 52 just went for $9,500 on eBay. No ROFR there, but many find that owning at a specific resort is worth the slight premium ROFR imposes.

Some also find using a reliable broker is better than some of the eBay sellers.

Judi is a great choice and wonderful at answering questions and presenting options, though I haven't had the pleasure to purchase through her yet. An EOY HHV 4800 that let's me book Christmas is proving elusive.

THAT was a good deal, because I believe that was an EVENT week, plus no ROFR at Flamingo.

IMHO

 

[pianodinosaur]

Outstanding. Welcome to TUGBBS and welcome to HGVC.

 

[Seth Nock]

Hilton has been very actively buying back units under right of first refusal. I have not been able to get a 7000 point unit past right of first refusal below $10,000 in about 5 months.

 

[linsj]

Hilton has been very actively buying back units under right of first refusal. I have not been able to get a 7000 point unit past right of first refusal below $10,000 in about 5 months.

Seth, is Hilton also buying lower points units, i.e., 3500? If so, what's the threshold for ROFR?

 

[Seth Nock]

Hilton is buying most packages. I have had most of my sales in the last 3 weeks bought back. I tend to sell for a lower price than other brokers, but am starting to second guess my sales prices. I have been giving my buyers my best guesses on pricing and ask that they adjust their offers up or down, from my recommendations.

 

[dja1980]

Wow... thanks for the great feedback everyone! I'll keep you guys posted on how things progress with the purchase.

 

[tompalm]

Paying extra for 7000 points is worth it. If the maintenance fee is the same as 5000 points, and I think it is at most resorts, you will get 40 % more for your money every year. The thing I like about Hilton is the flexibility of getting a two bedroom, one bedroom or a studio and every year we do something different. The extra points are like getting free nights each year.

 

[Judi Kozlowski]

Hiltons FROR

As a Broker we get paid if Hilton exercises their FROR. I try to stay above the FROR price as often as possible. Even though I get paid the Seller is upset because he feels I priced his unit lower than I should have. The Buyer loses the inventory. At this point we can not afford to lose the inventory.
Although I do have LOTS of inventory because I list a lot of Hilton properties for Sellers.
I do not buy and resell.

 

[dja1980]

Thanks, Judi... I hope you had a great Mother's Day!

Judi informed us on Friday that both our contracts made it past ROFR... we're getting closer!

 

[dja1980]

Closer yet... we closed on our timeshares last week!

Now we're trying to figure out how to use our 2011 points. We are thinking about rolling our 4,800 points to 2012, and reserving a 3-bedroom during our daughter's Spring Break. That way, we can invite my wife's family to vacation with us and give them a taste of HGVC. Ultimately, we like to see them become owners too!

 

[judgerey]

Closer yet... we closed on our timeshares last week!

Now we're trying to figure out how to use our 2011 points. We are thinking about rolling our 4,800 points to 2012, and reserving a 3-bedroom during our daughter's Spring Break. That way, we can invite my wife's family to vacation with us and give them a taste of HGVC. Ultimately, we like to see them become owners too!

Great news, but be careful. Once you start with HGVC vacations with extended family, it may be hard to have private ones. :annoyed:

 

[dja1980]

lol... good point. We may have to include the disclaimer: "This one's on us, but if you want to go again... BUY YOUR OWN!" :whoopie:

 

[mleonhardt]

THAT was a good deal, because I believe that was an EVENT week, plus no ROFR at Flamingo.

IMHO

What is the impact of an "event week" do you need special status to reserve or more points?

 

[Remy]

What is the impact of an "event week" do you need special status to reserve or more points?

Event weeks are Platinum weeks but tend to be sold as fixed weeks. Club members can book them as if they were any other Platinum week, however they tend to have very limited availability, as owners of those weeks purchased them for a reason. I know I'm never giving up week 52 at Hilton Hawaiian Village.