Holiday Inn Club Vacation at South Beach Resort Timeshare

[Visualhollywood]

I'm new to the timeshare game. I've been to a couple of presentations(Galveston and Vegas) but I was able to fight the urge to buy. It was very hard. I found this sight and began my research. I found a resale at the title. I'm IHG platinum member and think I want to stay with IHG. This is what I found:

Sale Price: $4526
Closing Cost includes:
· Title Company Fee $699 (charge for services rendered)
· ($599 discount offered if a signed contract is returned within 24 hours AND closing docs returned within 3-5 business of receipt)
· Transfer Fee $100 (set by the resort)
· TBS Administration Fee $175

Total purchase price: $5500. $4901 after rebate/discount at closing
Maintenance fees at $897/year.
This is at the Holiday Inn Club Vacation at South Beach Resort Timeshare. It is a 2BR/2BH lockout for week 43 or convert for 150,000 points(with 42,500points for use now). It has annual usage. The main question is: is this a good buy or should I continue to look for something better.

Thanks for your opinion.

 

[tschwa2]

It's quite high compared to what has been offered in the last 2 years but prices are going up since HICV is exercising right of first refusal more. I still think you should be able to find something similar for under $3000 all in.

 

[Tank]

HIVC would sell that for 30+ Grand.

ROFR is being exercised for this Resort big time.

Yes these do have value and $3000 is posible , cheaper also. Question is where is HICV cut off point to exercise the ROFR.

These resale units are going to cost more and more as time goes because of the new system HICV implemented if you don't want HICV to steal it out from under you.

Grand Geneva Resort HICV is much less aggressive to take back FYI.

Dave

 

[DrQ]

Would this convert to weeks after the purchase?

 

[tschwa2]

Would this convert to weeks after the purchase?

South Beach, Lake Geneva, and Gatlinburg remain in points that can be used in HICV system even in resale. The other resorts will revert back to the deeded fixed or float week.

 

[DrQ]

Thanks, that kind of confirms my decision to convert our Silverleaf properties to HICV. We were able to convert to 365K points/year and it looks like we may have paid about $5K premium to get those points, but we retained our Endless Escapes perk in the original 13 Silverleaf resorts. We can get up to 6 nights free , based on availability, and do it again after being out 6 days. We can reserve these within 14 days.