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Buying annual unit, but no points usage till 2021?

Discussion in 'Hilton Grand Vacations Club / HGVC' started by cas42021, Dec 6, 2018.

  1. cas42021

    cas42021 Guest

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    I found out after making an offer on an annual 4800pt 1BR Platinum listing, that the selling agent advised there would be no points till 2021. How is that possible? Can you borrow points from 2 years ahead like that? I'm assuming that will hurt the sale price as well..who would want to buy this for x-amount to begin with, and then pay MF, taxes, and club dues for the next 2 years without being able to use any of it!

    Anyone ever hear of anything like this before?
     
  2. natarajanv

    natarajanv TUG Member

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    Yes, it is possible if the seller had made RCI reservation using borrowed points. You can use 2 future years worth of points for RCI reservations.

    Sent from my Pixel 2 XL using Tapatalk
     
    cas42021 likes this.
  3. Panina

    Panina TUG Review Crew: Expert TUG Member

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    This could also happen with an affiliate hgvc where they deposited the weeks in II for exchange which you can do 2 years prior. Now if it was for a one bedroom, week 7 or 8 at Eagles Nest Marco Island, for the right price it might be worth the wait and additional fees but for most 4800 points weeks not worth it.

    Where and what week was it for?
     
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  4. natarajanv

    natarajanv TUG Member

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    In a situation like this usually seller will reimburse approximate future MF at closing. But you will have to pay club dues though unless you are already a member. One plus on this transaction is, if it is a highly desisrable property Hilton will likely not ROFR.

    Sent from my Pixel 2 XL using Tapatalk
     
    Last edited: Dec 6, 2018
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  5. cas42021

    cas42021 Guest

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    Ocean 22 Float Week
     
  6. Talent312

    Talent312 Tug Review Crew: Rookie TUG Member

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    The seller used every point available thru borrowing + RCI booking.
    Either the seller cancels them (losing his booking fees) or you walk
    ... unless you're getting a serious discount for losing 2 years of use.

    .
     
  7. Panina

    Panina TUG Review Crew: Expert TUG Member

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    Unless it is a fixed week like July 4 that you will use most years, I would suggest to move on. It’s not oceanfront and view could be none on low floor. 4800 points can be found elsewhere for a good price without these issues.
     
  8. jehb2

    jehb2 TUG Member

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    [deleted by me]. I see, it’s biannual not annual.
     
  9. Tamaradarann

    Tamaradarann TUG Review Crew: Veteran TUG Member

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    I agree, you need to look at the comparable prices for this resort and size accommodation, and then subtract 2 years worth of maintenance fees and see if your offer is still beneficial to you. If not, walk if it still looks attractive to you stay with it unless you desperately need those points for booking vacations for the next 2 years.
     
  10. cas42021

    cas42021 Guest

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    Heres an update:

    The seller decided to cancel their reservation, so now the full 4800pts are available for 2019 usage. They also accepted my offer, which was $1000 less than they were asking. They offered to sell m another 4800pts which they can rescue from 2018 if I want, for an additional $1000. If not, I believe they will keep them, or convert to HHonors points.
     
  11. Talent312

    Talent312 Tug Review Crew: Rookie TUG Member

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    So, what happened w-2020's points. You said there were no points until 2021.
    I'd say the 4800 rescued points would be worth $1000, if you can use 'em.
     
  12. GT75

    GT75 Moderator

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    I wouldn't pay that much for them (at ~$0.2/point) unless I really needed the points. The 2018 MFs were around $750 for Ocean 22 1 Bd.
     
  13. dayooper

    dayooper TUG Member

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    Are those MF’s o;the lower side due to a subsidy? Those aren’t LV Boulevard low, but $750 isn’t bad.
     
  14. GT75

    GT75 Moderator

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    I don't think so. I agree, Ocean 22 MFs aren’t too bad. The 6200 1 Bd OF unit would be better.

    That is obviously the purpose of the MF/points spreadsheet. Sometimes, we don't realize those hidden gems.
     
    Last edited: Dec 9, 2018
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  15. cas42021

    cas42021 Guest

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    They were going to borrow 2019 and 2020 for a big trip next year. I guess they changed their mind and cancelled to save the sale.
     
  16. pedro47

    pedro47 TUG Review Crew: Expert TUG Member

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    deleted
     
  17. Tamaradarann

    Tamaradarann TUG Review Crew: Veteran TUG Member

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    So if they can't the trip to give you the 4800 2019 points that was great. However, what about the 4800 2020 points since you said that you wouldn't have points usage until 2021?
     
  18. Talent312

    Talent312 Tug Review Crew: Rookie TUG Member

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    It sounds like the OP got both 2019 + 2020 points back.
    If true, decent move by the seller to let the buyer use what he bought. :rolleyes:

    .
     
  19. cas42021

    cas42021 Guest

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    That is correct. The seller decided against borrowing 2019 & 2020 points for a trip in 2019 as I believe their selling agent encouraged them to do so. I think they realized it would be a tough sale with those stipulations and just decided to scrap the last trip they were hoping to go on, since they already had an offer in and didnt want to lose it.
     
  20. cas42021

    cas42021 Guest

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    That spreadsheet is what helped me realize an Ocean 22 1BR was something to shoot for if I couldn't find a Vegas property. MF's are about $130 less per year than Elara, which is where I was previously looking.

    The 6200 1BR would be ideal, but would cost me 3-4 times the amount up front to buy than the 4800 1BR. Now I just hope it passes ROFR. Last property I tried to buy didnt and bummed me out. This is round 2 for me trying to get into the system.
     
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  21. Hsahota1

    Hsahota1 TUG Member

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    Be patient, I didn't get lucky till my third try. Initial offer was on a 4800 pt but ended up buying a 7000 pt
     
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  22. Tamaradarann

    Tamaradarann TUG Review Crew: Veteran TUG Member

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    I don't know who the selling agent is but he/she should be able to guide you and the seller on what price should pass ROFR this time of the year from past experience. While it sounds like a good deal for you, the seller seems very motivated so they may have priced it to sell and HGVC will buy it.
     
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  23. escanoe

    escanoe TUG Member

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    If you are buying HGVC Myrtle Beach mostly for points, Anderson Ocean Club 6200 1 BR is even better, and likely to go for less than the newer Ocean 22. I am in the process of buying an EOY contract for that. I should learn by 1/10 is my eBay purchase from Legacy clears ROFR.
     
  24. cas42021

    cas42021 Guest

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    I couldn't find an Anderson Ocean Club 1BR for anywhere close to what I am getting the Ocean 22 for. Maybe it's just a timing issue? The one 6200pt Anderson I found was 3-4 times the price I am paying.
     
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  25. escanoe

    escanoe TUG Member

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    The one I “won” on eBay recently started off overpriced for a regular contract while only being EOY. It was initially listed on eBay in a fashion where you could make offers. I think I offered $1,400 to have some negotiation room, and my offer was outright rejected. After that auction ended with no sale, they relisted it as an eBay auction with a low starting price. I “won” that auction for $809. We’ll see what happens with ROFR. Between it being EOY, us being at the end of the year, the fees and maintenance fees built into the sales contract, it might make it through. Fingers crossed.

    I agree Myrtle Beach is an oven overlooked value. Some MFs/points are comparable to Vegas. It is easily driveable in a day from me. I is a great place for me to potentially have for both vacation and points.
     
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