Going Price for Grand Mayan Nuevo Vallarta

[AlWfromSF]

Hi everyone. For personal reasons and for hopefully ability to trade a little easier, I bought a Grand Mayan package and used my Garza Blanca membership as part of the deal. I have 5 days to rescind, so just want to make sure that I made a good choice:

1 - What's a reasonable price for the 1BR (10 yr) + 2 1BR (100 yr) package?

2 - For renting weeks on one of the rental and resale companies that they recommend, is the $1700 / week that they mentioned realistic and do all of the weeks that you post always rent?

Thanks for you help and the community here.

Al

 

[richontug]

RE # 2

You will not get $1700 per week. There are many rentals on Redweek for much less than $1700. It appears a 2 BR did rent for $1045 but there are many other listings.
Do not count on rental income to justify the purchase.

I suggest you read the many postings on Vida sales tactics.

Rich

 

[tschwa2]

Hi everyone. For personal reasons and for hopefully ability to trade a little easier, I bought a Grand Mayan package and used my Garza Blanca membership as part of the deal. I have 5 days to rescind, so just want to make sure that I made a good choice:

1 - What's a reasonable price for the 1BR (10 yr) + 2 1BR (100 yr) package?

2 - For renting weeks on one of the rental and resale companies that they recommend, is the $1700 / week that they mentioned realistic and do all of the weeks that you post always rent?

Thanks for you help and the community here.

Al

I would count on $0 from their recommended rental company and the ability to cover you Mf's if you reserve a good week and are lucky if you rent it on your own. My understanding is the best package prices have a non disclosure clause so they can't reveal what they paid. You probably paid to much. I also wouldn't be 100percent sure they actually took possession of your other week and a couple of months down you may find you now own both and you can't rent your new units for any profit.

 

[AlWfromSF]

Thanks

To make the #'s work, and the fact that I wouldn't take three weeks of vacation a year to Mexico, that's what makes the deal make sense.

Has anyone used the companies they recommend:

Global Golf Connections
Golf Network
Mexico Gold Resort Rentals
Destinations International
Vacation Time Company

I'd love to hear input from people that are actually renting out week vs. those dissuading purchases directly from the developer as to dump my Garza Blanca points it seems to be the only way to go.

Thanks!

 

[ilene13]

I own at the Royal Resorts. I have rented out many units and I find that Redweek.com and TUG are the most reliable. I've never heard of the companies that you have mentioned. There is a glut of timeshare rentals in Mexico, so I do not think you will receive top dollar for your rentals.

 

[pittle]

To make the #'s work, and the fact that I wouldn't take three weeks of vacation a year to Mexico, that's what makes the deal make sense.

Has anyone used the companies they recommend:

Global Golf Connections
Golf Network
Mexico Gold Resort Rentals
Destinations International
Vacation Time Company

I'd love to hear input from people that are actually renting out week vs. those dissuading purchases directly from the developer as to dump my Garza Blanca points it seems to be the only way to go.

Thanks!

The only place that I have heard of any of these places is in the MP/GM/GB/GL salesroom.

Just be aware that any of these companies will charge you money to rent your place for you. If you pay a MF of say $900, then you pay the company about $300 (upfront) to rent it for you, so you will have paid $1200 upfront. They will not get $1700 for a 1 bedroom unit and probably not for a 2-bedroom unit. We tried this one time with one of our units several years ago and they did not rent our unit. They did however, give us a unit to use at another resort the following year. The resort was not as nice as our unit and it made that week cost about $100 more than doing a RCI exchange.

Realize that those extra weeks generally have stricter limitations on the times that you can use them. You most likely will not get great weeks to "give" to the rental companies.

After that one experience with a rental company, we have only rented our units to friends or family and then for the cost of the MF rounded up to the nearest $100. I have watched many GM units for rent on eBay, Redweek, and TUG that have much lower prices than you have mentioned listed for rent.

Does the contract include the no pay unless you go option?

Most people that want to do the golf deal will want a 2 bedroom unit because they like to travel with other golfers.

 

[pittle]

One more thing - If you are buying just because of rental income, you will be disappointed. If you are buying because you want to go to the resorts, you will have great vacations as they are all beautiful.

We bought our first MP from the developer in 1999 and in 2006 we upgraded to Grand Mayan and in 2013, we upgraded to Grand Luxxe. We have also purchased numerous MP units resale during that time because we loved the resorts that much as do our family and friends.

We have been timeshare owners since 1991 and have made numerous exchanges and been to some wonderful places. Now, however, we have consolidated and decided to own where we want to go. We have been to all of what I call "Mayan World" resorts and they are all awesome. We like owning at these properties because "if you own at one, you own at all" and we can vary our vacation locations in Mexico through them.

My husband just told me to tell you that quite often, they give your other timeshare back to you or turn it over to a company to sell. That company may or may not do so, so you would still be responsible for the MF for that one. Read that contract thoroughly.

Good luck with your decision. At least you found TUG before you went home. Try to make your decision quickly so that you can enjoy the rest of your vacation.

 

[LannyPC]

I have 5 days to rescindl

Then do so.

 

[AlWfromSF]

My husband just told me to tell you that quite often, they give your other timeshare back to you or turn it over to a company to sell. That company may or may not do so, so you would still be responsible for the MF for that one. Read that contract thoroughly.

Yes, this is one thing that I've been concerned about. There is a company called Global Vacation Trade that they use for this transfer. It's hard to tell from the contract if I'm free and clear right away, or only after the transfer is complete. Grand Mayan says that it's transferred to them and then they write it off. Is this to be believed?

 

[pittle]

We have not dealt with Grand Mayan in taking any of our other properties, but we had an experience with another timeshare a few years ago that offered to take ours and sell. They supposedly applied that amount to our down payment and $150 or $200 was added to our closing costs for the company to handle it. The company was one that we had used to purchase a couple of re-sales through, so were comfortable using them. Long story short - they did not want our timeshares - said we only had 7 years left on them, so we still owned them.

I do know one person who GM did take their other timeshare when they originally bought GM and these folks no longer own the first one. Later they upgraded to Grand Luxxe unit and wanted to buy at Puerto Bahia Villas in Bucerias and that did not get sold as they were told it would, so they now still own Grand Luxxe and Puerto Bahia VIllas.

 

[capjak]

I have been able to rent a 2 bedroom Grande Mayan for my use for $1200 (4 years ago) but that was for christmas week, so I paid a little more, I have seen them rent for less than a $1000 for non xmas.

I do see why anyone is paying $1700 to rent a GM? Good Luck with that.

You better rescind quickly.

 

[traveler36]

There is a positive to all this.

I would guess most of the commentators own timeshares. I do. I own at the Grand Luxxe. Why - for the vacation experience. This entire Nuevo Vallarta property (over 300 developed acres and more planned) including the Grand Mayan, is amazing, guest service is great, rooms are clean, large and well planned, and the grounds are spectacular, etc. It is, in short, a great vacation spot. I would think that is why you considered buying there in the first place. If you bought to get a great vacation experience then stick with it.
The fact that it is not a profitable rental may have been secondary in your thinking. Few timeshares rent well. Ask yourself why did you primarily buy and then make your decision about rescinding.

 

[Pat H]

Rescind now. No matter what you paid, it's way too much and you can always buy it later on the resale market for a lot less. I own a Mayan Palace unit and I trade into the GM thru RCI. When we went this year, one of my friends bought and then rescinded the next day. They told her she couldn't say what price she was offered. Really? What are they going to do to you if you tell?

 

[aliikai2]

back when I ran my rental company

I rented many GM 2 bedrooms during the summer months to nationals for $1000, never was able to get anywhere near $1700 for a 2 let alone a 1 bed.
fwiw,
Greg

 

[flexible]

Garza Blanca

I used my Garza Blanca as part of the deal.
Al

Hi AlWfromSF,
Which http://www.garzablancaresort.com membership did you use as part of the deal?
(just curious)

Villa del Palmar claimed they purchased it when I saw a model with Garca Blanca in their showroom last year.

My husband purchased Garza Blanca in the late 1970s or early 1980s for $10,000. The following year after he paid off the balance, they claimed the comptroller embezzeled the money and told him the resort was closed. I lost count of how many timeshare projects were on the same land just South of Puerto Vallarta. We toured a new Garza Blanca project sometime either in 2009 or 2011.

 

[AlWfromSF]

Hi AlWfromSF,
Which http://www.garzablancaresort.com membership did you use as part of the deal?
(just curious)

Villa del Palmar claimed they purchased it when I saw a model with Garca Blanca in their showroom last year.

My husband purchased Garza Blanca in the late 1970s or early 1980s for $10,000. The following year after he paid off the balance, they claimed the comptroller embezzeled the money and told him the resort was closed. I lost count of how many timeshare projects were on the same land just South of Puerto Vallarta. We toured a new Garza Blanca project sometime either in 2009 or 2011.

It's a membership purchased in 2012 on the new resort. It sounds like you've been there. Beautiful place. Will be interesting to see if they can build it out as much as they're planning.

 

[pittle]

What did you decide to do? Did you rescind or keep it? I have never been to Garza Blanca, but Grand Mayan's are nice. We have thoroughly enjoyed every vacation that we have taken there. We never have exchanged one - just went for a great vacation. We did rent our weeks a couple of times to friends.

 

[AlWfromSF]

I ended up keeping but downgrading to the the Mayan Palace (for now) for much less money.

I'm working through the transfer of my Garza Blanca timeshare to the trading company. They've offered me a good deal to keep it but I don't really have the need for more points. I believe I can have the resort rent it and not have to pay any yearly maintenance fees.

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