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Gbahri

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Hello all,
My wife and I have been interested in HGVC. We have always held back due to various reasons. Now that we have kids and have stayed at a resort with a kitchen we think it’s the only way to go. I’m doing research now and I’m finding time shares for sale for $1. I found a grand waikikian with 10,500 points for sale for $1 with a main ten s fee of $3500 a year. Are these legit? Do people sell their timeshares for $1. 3500 doesn’t seem to bad to get a weeks worth of a 2 bedroom suite. Thoughts on buying a timeshare for $1?
 

Bmoe

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Hello all,
My wife and I have been interested in HGVC. We have always held back due to various reasons. Now that we have kids and have stayed at a resort with a kitchen we think it’s the only way to go. I’m doing research now and I’m finding time shares for sale for $1. I found a grand waikikian with 10,500 points for sale for $1 with a main ten s fee of $3500 a year. Are these legit? Do people sell their timeshares for $1. 3500 doesn’t seem to bad to get a weeks worth of a 2 bedroom suite. Thoughts on buying a timeshare for $1?
Where are you seeing timeshares for $1? And those are probably just people trying to get rid of their timeshare. If you like the terms go for it.

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Gbahri

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Where are you seeing timeshares for $1? And those are probably just people trying to get rid of their timeshare. If you like the terms go for it.

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I have looked on websites that sell resales and there are a bunch.
 

HDiaz1

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Yes, there are. I sent you a message but make sure to check timeshare nation. They currently have a few HGVC for free. Just be aware that you these are usually free because the maintenance fees tend to be high as compared to properties that actually have some resale value.
 

CalGalTraveler

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Such deals are possible but please be careful. There are legitimate sellers and there are scammers. Especially on EBay. Since you are new, suggest that you work with a licensed real estate broker such as Syed Sarmad Advantage vacations in Hawaii, or Diane Nadeau or Carl Thoms to avoid getting scammed. Each has their speciality so if you tell us more about what you want, we can give you targeted advice.
 

GT75

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I agree with others. Be careful on free or $1 HGVC. Ensure you understand the MFs. I would also suggest dealing with a license recommended TUG broker for your first purchase.
 

Passepartout

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Yes there are $1 timeshares. And there some $1 timeshares that are grossly overpriced. There are timeshares that people actually pay thou$and$ to get rid of. You don't want those. So decide what you NEED- where you want to go over and over again, and won't cause you to derail other plans- like retirement. kid's education, new cars, financial security if you suffer a reversal of fortune.

Stick around TUG. Learn. Be an informed consumer. We can help.

Jim
 

nobodyhasthisname2

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7000 platinum points at HGVC on Paradise
$3500 per year in maintenance fees is high. I have 7000 points in Vegas with $1000 in maintenance fee (I paid $6500). The broker I use just offered me 9600 points in Scotland with $1400 USD maintenance fees (for $9000). I know neither of these were $1 to buy, but a higher up front cost with lower annual maintenance fees usually means less $ overall in the long run.
For example Scotland after 10 years is $9000 up front plus $14k for 10 years of main fees - $23K. The one you’re quoting is $1 up front plus $35K in maintenance fees.


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Gbahri

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My wife and I like to travel to different places. We don’t really want to travel to the same place every year. Is it worth it to buy at a place just for its cheap maintenance fees? To my knowledge only thing I lose is I can only book 9 months out for every other place instead of 12. Is that true? If so is it hard to book?
 

Gbahri

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$3500 per year in maintenance fees is high. I have 7000 points in Vegas with $1000 in maintenance fee (I paid $6500). The broker I use just offered me 9600 points in Scotland with $1400 USD maintenance fees (for $9000). I know neither of these were $1 to buy, but a higher up front cost with lower annual maintenance fees usually means less $ overall in the long run.
For example Scotland after 10 years is $9000 up front plus $14k for 10 years of main fees - $23K. The one you’re quoting is $1 up front plus $35K in maintenance fees.


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thank you for that example. Would the maintenance fee for the same hotel be the exact same no matter what the price of the timeshare is being sold for or is it possible for the same hotel to have a different maintenance fee per point?
 

dayooper

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My wife and I like to travel to different places. We don’t really want to travel to the same place every year. Is it worth it to buy at a place just for its cheap maintenance fees? To my knowledge only thing I lose is I can only book 9 months out for every other place instead of 12. Is that true? If so is it hard to book?

It all depends on the resort, but it’s generally not hard to book at nine months. Ski weeks, prime Oahu weeks and the SW Florida resorts are usually more difficult, but most resorts are possible at nine months.
 

dayooper

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thank you for that example. Would the maintenance fee for the same hotel be the exact same no matter what the price of the timeshare is being sold for or is it possible for the same hotel to have a different maintenance fee per point?

Some of the SW Florida affiliates have different MF’s per season, but most have the same MF’s per unit size ($1049). Example, my Flamingo 2 bedroom platinum unit has the same MF’s (as any 2 bedroom at The Flamingo, no matter the season. The 1 bedroom units have a lower MF’s, but they don’t change per season either. It’s why platinum costs more but you you get a better bang for your buck in the long run. I pay $.15 per point (1049 divided by 7000). That same unit in gold season would be $.21 per point (1049 divided by 5000) while a silver would be $.30 per point (1049 divided by 3500).
 

GT75

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I found a grand waikikian with 10,500 points for sale for $1 with a main ten s fee of $3500 a year.

Something doesn't sound correct on the MFs which you were quoted. Here is the MF which someone has posted - link. Grand Waikikian also have two units with 10,500 pts (a 2Bd regular in Platinum season and 2Bd Premier in Gold season).
 

Gbahri

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So my wife and I just did the timeshare meeting in Hawaii. Got out of it without saying yes! Lol. I spoke to the guy about resale. He said with resale for example if I buy 5k points then decide to buy another 5k I have to pay maintenence fees x2 basically as opposed to one smaller fee by upgrading with the developer. Is this true?
 

brp

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So my wife and I just did the timeshare meeting in Hawaii. Got out of it without saying yes! Lol. I spoke to the guy about resale. He said with resale for example if I buy 5k points then decide to buy another 5k I have to pay maintenence fees x2 basically as opposed to one smaller fee by upgrading with the developer. Is this true?

Yes, it is true. Two contracts will have two MF. It is possible that the Developer can "buy back" your single smaller contract and give you a larger (even double-sized) single contact with lower MF. However, the premium you will pay could well take 30 years or more to make up the difference (you have to do the maths in each particular case).

Cheers.
 
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terces

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So my wife and I just did the timeshare meeting in Hawaii. Got out of it without saying yes! Lol. I spoke to the guy about resale. He said with resale for example if I buy 5k points then decide to buy another 5k I have to pay maintenence fees x2 basically as opposed to one smaller fee by upgrading with the developer. Is this true?
I have never heard of a single scenario where buying retail is better than buying well thought out resale contracts. They can come up with all kinds of sales pitches, and on the surface they may seem credible, but the math never makes sense.
 

Gbahri

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Thank you for the responses guys!
 
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