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Questions on selling my HGVC timeshare

jasperdog

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I want to sell my 1BR Parc Soleil timeshare in Orlando. So I looked at Parc Soleil "for sale" ads and it was very confusing. I have a Platinum floating week and get 4800 points a year. But the $ range is huge so I have no idea what to ask. Is $1 a point a good high limit?

Do I have to pay any HGVC fees or is that all on the buyer? How high are these one-time fees for the buyer? How much more if the buyer is not currently an HGVC member? I want to be able to disclose these fees to the buyer. There's only 4790 points for 2020 because I borrowed 10. Is that a problem?

In the past, I used a quitclaim deed to buy a timeshare week in Las Vegas. Can this be used with my HGVC timeshare?
 
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TDub1313

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It is paid off, with no outstanding loan, I assume? That would be a hurdle to clear before thinking about price.
 

alwysonvac

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I want to sell my 1BR Parc Soleil timeshare in Orlando. So I looked at Parc Soleil "for sale" ads and it was very confusing. I have a Platinum floating week and get 4800 points a year. But the $ range is huge so I have no idea what to ask. Is $1 a point a good high limit?

Do I have to pay any HGVC fees or is that all on the buyer? How high are these one-time fees for the buyer? How much more if the buyer is not currently an HGVC member? I want to be able to disclose these fees to the buyer. There's only 4790 points for 2020 because I borrowed 10. Is that a problem?

In the past, I used a quitclaim deed to buy a timeshare week in Las Vegas. Can this be used with my HGVC timeshare?

Based on Seth’s site (link), the price for Parc Soleil’s one bedroom platinum annual seems closer to $0.60/point. JMHO...If you want a quicker sale, I suggest that your asking price doesn’t exceed $3,000.

Everything is negotiable but typically all fees are paid by the buyer.
If you decide to sell it yourself, many have used LT Transfers to handle the closing (link)

Here are the latest 2019 HGVC fees:
  • Estoppel Fee - $64 (included with closing)
  • Transfer Fee (aka Change Fee) - $409 (included with closing)
  • Enrollment/Activation Fees - $609 (buyer is billed directly from HGVC after closing)
NOTE: If the buyer is not currently a HGVC member, they will also have to pay the annual club fee. The 2020 HGVC-Domestic/International $182 /$216

Good Luck :)
 
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jasperdog

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.Great info, alw. One more question. Since it's late in the year, how late into January can I go before HGVC would put a lien on the unit for not paying the Jan 1 assessment?
 

CalGalTraveler

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.Great info, alw. One more question. Since it's late in the year, how late into January can I go before HGVC would put a lien on the unit for not paying the Jan 1 assessment?

Check your MF statement because some properties differ. In most cased 45 days after Jan 1.
 

tombanjo

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HGVC may want the MF paid in order to transfer. Being so close to the end of the year, I'd bake the MF into the deal so it does not leave you in limbo.
 

alwysonvac

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It might take a while before you’re able to find a buyer. So you’ll want to pay the MF and have the buyer reimburse you for the 2020 MF.

As stated above, check your billing statement. The grace period varies.

For example, here’s a copy of my billing statement for my Flamingo one bedroom platinum (see photo below). For the Flamingo, I must pay the total amount due within 45 days of the due date to avoid the penalty (late fee plus finance charges).

0B251E9C-BBC8-4119-8EA9-77EB65C6A450.jpeg


Keep in mind, it’s a buyer’s market (more sellers than buyers). So if you want/need a quick sale, you’ll want to make sure your asking prices is on the low side. If you don’t care about making anything on the sale, you can offer it for free on the TUG Free Timeshare Giveaway Forum (link) with the buyer reimbursing your 2020 MF and paying all cost associated with the transfer.
 
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Tamaradarann

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It might take a while before you’re able to find a buyer. So you’ll want to pay the MF and have the buyer reimburse you for the 2020 MF.

As stated above, check your billing statement. The grace period varies.

For example, here’s a copy of my billing statement for my Flamingo one bedroom platinum (see photo below). For the Flamingo, I must pay the total amount due within 45 days of the due date to avoid the penalty (late fee plus finance charges).

View attachment 15207

Keep in mind, it’s a buyer’s market (more sellers than buyers). So if you want/need a quick sale, you’ll want to make sure your asking prices is on the low side. If you don’t care about making anything on the sale, you can offer it for free on the TUG Free Timeshare Giveaway Forum (link) with the buyer reimbursing your 2020 MF and paying all cost associated with the transfer.

If you offer it for free on TUG Free Timeshare Giveaway Forum and a buyer accepts it, can HGVC step in with ROFR? If they do are there any costs to anyone?
 

alwysonvac

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If you offer it for free on TUG Free Timeshare Giveaway Forum and a buyer accepts it, can HGVC step in with ROFR? If they do are there any costs to anyone?

Yes, during the ROFR process, HGVC can step in as the buyer and take the week at the negotiated price.

Generally no one loses anything when ROFR is exercised. Of course, there are exceptions to the rule such as Disney Vacation Club.

But for HGVC, I don’t recall seeing any TUG reports of additional cost to the buyer or seller. I believe HGVC has 30 days to make their ROFR decision.
 
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tombanjo

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There is no ROFR on true gift transactions. You need to fill out a gift affidavit for HGVC. You can have the receiver be responsible (pay) for the transfer fees, but no money should change hands on a gift.
 

presley

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The MFs need to be paid before the transfer will be completed. It can take 60 days for the sale to close. You should go ahead and pay the next MFs and ask for reimbursement at the sale.
 

Tamaradarann

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Yes, during the ROFR process, HGVC can step in as the buyer and take the week at the negotiated price.

Generally no one loses anything when ROFR is exercised. Of course, there are exceptions to the rule such as Disney Vacation Club.

But for HGVC, I don’t recall seeing any TUG reports of additional cost to the buyer or seller. I believe HGVC has 30 days to make their ROFR decision.

Has anyone reported ROFR being exercised on $0 sales. I guess if the sales are $0 the property is thought of having little value to the buyer and seller as well as to HGVC.
 

alwysonvac

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Has anyone reported ROFR being exercised on $0 sales. I guess if the sales are $0 the property is thought of having little value to the buyer and seller as well as to HGVC.

Well, I can’t say I totally agree on the buyer value since I’ve picked up a few freebie (non-HGVC) weeks on TUG and they have served me well ;).
 
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brial05

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We owned Orlando in the very initial and I quickly learned what everyone else knew ... Orlando has very high MFs, higher than almost any other location.
So, in the resale market, that is a strike against you.

Heavily in your favor is your Platinum property.

MFs must be paid for you to have any takers and this late in the year, you are going to have to pay them anyway, so I would say in your favor is that you will have a whole year to sell but you will have to eat the MFs this year.

Now another thing I see is that let us say you must pay MFs, you can use your points this New Year.
i.e. Property for sale, no tax due, no points available. Very common.

Lastly, be careful with the lingo, even around here ... I just purchased from Seth for $0.55 cents per point but when I say that, for me I mean TOTAL, the unit (points) plus all fees. The unit was listed for ~ $.29411 per point. So again just make sure everyone is on the same page.
 

jasperdog

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We owned Orlando in the very initial and I quickly learned what everyone else knew ... Orlando has very high MFs, higher than almost any other location.
So, in the resale market, that is a strike against you.

Heavily in your favor is your Platinum property.

MFs must be paid for you to have any takers and this late in the year, you are going to have to pay them anyway, so I would say in your favor is that you will have a whole year to sell but you will have to eat the MFs this year.

Now another thing I see is that let us say you must pay MFs, you can use your points this New Year.
i.e. Property for sale, no tax due, no points available. Very common.

Lastly, be careful with the lingo, even around here ... I just purchased from Seth for $0.55 cents per point but when I say that, for me I mean TOTAL, the unit (points) plus all fees. The unit was listed for ~ $.29411 per point. So again just make sure everyone is on the same page.

I read someplace on tug2 that HGVC gives a full allotment of points to new owners and that's the justification for not refunding any maintenance fees and for the high transfer and activation fees. Is that true or not? Reluctantly, you've all convinced me to just pay the maintenance before sale.
 

brp

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I read someplace on tug2 that HGVC gives a full allotment of points to new owners and that's the justification for not refunding any maintenance fees and for the high transfer and activation fees. Is that true or not? Reluctantly, you've all convinced me to just pay the maintenance before sale.

HGVC only gives the points if they're available in the contract. HGVC cannot manufacture points so, if you've used them, there are none to be given.

So, this is a negotiation item for the sale. If the buyer doesn't want to reimburse, you can use the points prior to the sale (disclosing this, of course) and then the buyer gets no points for no MFs paid.

Cheers.
 
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