Getting out of Bluegreen purchase

[OldGuy]

But you knew that before you bought.

Sure, everyone here is aware of that, but it does not help the health of the industry to keep beating that drum.

It does not change the numbers who are dissatisfied, and, probably escalates the numbers and level of dissatisfaction to keep saying that.

What would help is a dialog that leads to a resolution of the issue, and, of course, that would require dialog. The problem is only going to get worse as it is only common sense that more, not fewer, owners will want to exit, for the many reasons they do.

Is there any more serious issue in timesharing than dissatisfied owners?

I believe it would actually be more helpful to owners who love their timeshares to help find a solution to this, probably more than the immediate, short-term benefit to those who are dissatisfied.

 

[OldGuy]

Do you think those are default on loan rates or both loan and MF deficiencies.

Now that I think about that, you would have to look at the resorts associations' budgets, and come to think about that, I did that for our two remaining resorts here:

https://tugbbs.com/forums/index.php?threads/the-tale-of-two-resorts.292260/

Based on what is being spent on, it looks like 10-12%, with the more progressive resort that is actually doing positive things about the issue, having some non-maintenance fee income to offset their unproductive weeks, plus an active method of turning them into productive weeks.

 

[OldGuy]

The figures I'm getting are from their financing documents, so they are default rates on the purchase loans. But, to your point, if you add the upfront rescission rates, to the owner purchase loans default rates, to the maintenance fee defaults, you have an extremely high % of people who bought a timeshare.

Digging into this a bit, and using the industry's figures:

A recent ARDA World, presented a panel discussion entitled “The Effects of Buyer Regret on Rescission: Recognizing, Revealing and Rectifying Regret”, prepared by a study from the University of Central Florida."

You can study the study yourself, or just accept that if ARDA is concerned, you should be, too.

But, let's say there's a 15% rescission rate (their figure), a 15-20% average loan default rate (actual figures from timeshare companies), a 17% dissatisfaction rate (their figure), and a 10% bad debt expense (my resorts' figures), it adds up, and shows that the happy owners are already paying for the unhappy ones.

 

[riverajuan]

I'm going on the premise that Juan is simply a young person who got snookered on vacation, tried to save some quick money on tickets or something, and wasn't experienced with the ways of high pressure sales.
This whole misadventure seems like something so unpleasant that it's best ignored. I'm afraid that when the credit card bills start rolling in, he'll ignore them too- or pay the minimum.

He came here looking for help, when the only help he needed was already supplied by BG, and it was in his own hands to solve it.

We tried, but can't win 'em all.

Jim

Good morning ladies & gentlemen

The above quote is totally correct. I don’t mean to disrespect anyone in this forum.

The reason I have not continue posting is 1) I am presently replacing drywall in our house 2) I also have my daily job & 3) I have been reading lots about my new obligation with the time share I thought would be a great way to have vacations, but came to realized that I was totally driven by the occasion and the sales man and signed up.

I made a lot of mistakes about this transaction because I already have other obligations such as a house, car etc.

I was totally paralyze on doing the things this forum guide me too only because I realized that I was very late to act and believed bg will not grant me the rescinding on my purchase.

I have already made payments and I am still totally confused about how to use the ts or do I just take a hit and move on. The only reason I haven’t walked away is because I am a responsible person when it comes to my obligations.

I am not a scammer, just someone who feels made a mistake with this purchase and don’t know what will be my next step.

I thank you all for your advice and realized it was my mistake not to act fast enough.

 

[OldGuy]

Hey folks, it's Juan the Shill!!!!

Just kidding, Juan, & I feel for you, and the thousand of others like you.

Stick around and share your mistake with the rest of us. Ours has lasted 30 years and one month.

 

[Grammarhero]

Good morning ladies & gentlemen

The above quote is totally correct. I don’t mean to disrespect anyone in this forum.

The reason I have not continue posting is 1) I am presently replacing drywall in our house 2) I also have my daily job & 3) I have been reading lots about my new obligation with the time share I thought would be a great way to have vacations, but came to realized that I was totally driven by the occasion and the sales man and signed up.

I made a lot of mistakes about this transaction because I already have other obligations such as a house, car etc.

I was totally paralyze on doing the things this forum guide me too only because I realized that I was very late to act and believed bg will not grant me the rescinding on my purchase.

I have already made payments and I am still totally confused about how to use the ts or do I just take a hit and move on. The only reason I haven’t walked away is because I am a responsible person when it comes to my obligations.

I am not a scammer, just someone who feels made a mistake with this purchase and don’t know what will be my next step.

I thank you all for your advice and realized it was my mistake not to act fast enough.

Once you have your BG points deposited presumably on Jan 1, you book your vacations. Summer weeks fill up fast, often on Jan. 1. I think with your TS understanding which will improve with time and reading TUG, you can book fall weeks. That’s how TS works.


Sent from my iPhone using Tapatalk

 

[Grammarhero]

Good morning ladies & gentlemen

The above quote is totally correct. I don’t mean to disrespect anyone in this forum.

The reason I have not continue posting is 1) I am presently replacing drywall in our house 2) I also have my daily job & 3) I have been reading lots about my new obligation with the time share I thought would be a great way to have vacations, but came to realized that I was totally driven by the occasion and the sales man and signed up.

I made a lot of mistakes about this transaction because I already have other obligations such as a house, car etc.

I was totally paralyze on doing the things this forum guide me too only because I realized that I was very late to act and believed bg will not grant me the rescinding on my purchase.

I have already made payments and I am still totally confused about how to use the ts or do I just take a hit and move on. The only reason I haven’t walked away is because I am a responsible person when it comes to my obligations.

I am not a scammer, just someone who feels made a mistake with this purchase and don’t know what will be my next step.

I thank you all for your advice and realized it was my mistake not to act fast enough.

Relax. It’s not like you overpaid by $20k, or even $8k. You overpaid by $7,500. Just learn from your mistake, learn the BG system, and take awesome vacations with your fam.


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[riverajuan]

Good morning

I guess there is nothing I can add to a veteran of 30 years plus who seen it & heard just about everything.

Will see how it goes. After reading through some of the package I can confirm 10 thousand points. Also for the first time I have some mail from bg that I just noticed in my mail box this morning but haven’t got a chance to open yet will see what the details are there and I will share them with this forum.

 

[OldGuy]

Good morning

I guess there is nothing I can add to a veteran of 30 years plus who seen it & heard just about everything.

Sucking up will not get you out of your timeshare!

 

[riverajuan]

Sorry I don’t know who you are and I am not trying to do anything. As I mentioned before, if I decide to walk away I am go shape to do so. Also if there is nothing positive to offer - Why try to make others feel miserable?

Help others , that will make you feel positive.

 

[rapmarks]

Once you have your BG points deposited presumably on Jan 1, you book your vacations. Summer weeks fill up fast, often on Jan. 1. I think with your TS understanding which will improve with time and reading TUG, you can book fall weeks. That’s how TS works.


Sent from my iPhone using Tapatalk

I don’t believe that bluegreen points have a January start date, but a different date related to your purchase date, you can also wait list for popular resorts.

 

[OldGuy]

Sorry I don’t know who you are and I am not trying to do anything. As I mentioned before, if I decide to walk away I am go shape to do so. Also if there is nothing positive to offer - Why try to make others feel miserable?

Help others , that will make you feel positive.

You talking to me?

If you are, you took my comment incorrectly.

I've been on your side throughout, while others have questioned your sincerity.

Let me go back and add a more smilie smilie to my wisecrack.

 

[riverajuan]

My apologies for my misunderstanding.

 

[OldGuy]

My apologies for my misunderstanding.

No problem.

Misunderstandings are easy on Internet forum since very few really know each other, so don't really know how to take people.

In my case, even in real life, people who are really anal and intense, and take everything verbatim, literally, and have no sense of humor, don't get me.

With the anonymity of the internet, some people like to say/post provocative things to stir the pot, too, and sometimes those who did not get lumped in with them.

 

[Grammarhero]

My apologies for my misunderstanding.

Juan, if you decide not to default, learn to use BG, book vacations every year with your family, and so on. Once you learn how to use BG, you can stick it to BG by buying 10k more BG points for about $1,000, enough to pass Right of First Refusal. First thing first, learn how to use BG.

Old Guy is a good guy, who sometimes jokes a lot.

 

[riverajuan]

I understand and will make sure not to allow my misunderstandings get in the way of learning from others experiences and be more open to criticism and jokes.

 

[OldGuy]

Old Guy is a good guy, who sometimes jokes a lot.

Too much sucking up for me . . . I'm going to Menard's.

 

[riverajuan]

I totally understand, everyone here has enlightened my understanding of ts in one way or another so I don’t mean to disrespect anyone. Why would I do that when all of you are helping me to understand how ts works.

I am actually thankful I found this forum.

 

[Grammarhero]

I understand and will make sure not to allow my misunderstandings get in the way of learning from others experiences and be more open to criticism and jokes.

Juan, read this forum. https://tugbbs.com/forums/index.php?forums/bluegreen-vacations.62/.

Again, there are tuggers who overpaid by $15k or even $20k for their first TS. While overpaying by $7.5k is bad, it's not the end of the world. Learn to use BG and take awesome vacations with your family. Once you learn how to use BG, screw BG over by buying 10k more BG resale for $1k.

 

[riverajuan]

Have a good day old guy

 

[riverajuan]

I will, thanks for all your input.

 

[Passepartout]

I totally understand, everyone here has enlightened my understanding of ts in one way or another so I don’t mean to disrespect anyone. Why would I do that when all of you are helping me to understand how ts works.

I am actually thankful I found this forum.

Hi Juan! Welcome back. Sometimes humor (and sarcasm) don't translate well to the printed page. I can tell that you are trying to do right by your family, hanging drywall and such. It's hard being a young family man. Sometimes it's hard for all us 'Old Guys' to remember those times.

OK, so now take stock of what you bought from BG. You said you are making the payments. That's good. If possible, pay more than they say, because it will pay off sooner and you'll pay less interest. I know that $7500 seems like a huge amount, but stick with it. Many TUGgers bought our first TS just like you did and paid them off and have truly made the lives better for themselves and their families. You'll look back later and kick your own butt for even considering defaulting and wrecking your credit. That's something no young person should even consider. Us 'Old Guys' don't need the credit nearly as bad as you do, so keep making those payments.

Find out when the anniversary date is for your points. And ON THAT DAY reserve the best vacation spot you can for your family and start making plans. That's the happiest time about vacations. Even better than the going, or the memories when you get home. Planning is the BEST!

Hang around TUG. You might get the most from the BG forum for now, but look around. Some other aspect might help you. Look into the Lounge. We talk about lots of stuff other than timesharing. We're a community. Join in.

All the best. . .

Jim

 

[riverajuan]

Thank you, I am not that young at almost 59.

 

[TheHolleys87]

@riverajuan,

I’ve been following this thread and haven’t had anything to contribute so far. But I just followed the link that Grammarhero posted above and found out that your 10,000 points will get you a 1-BR at the Fountains in Orlando anytime of year, and I wanted to let you know that’s a lovely resort for couples or for families with kids! DH and I stayed there on our retirement trip but wouldn’t hesitate to go back with the grandkids. So learn how to book with your BG points and as the others have said, you can look forward to wonderful vacations with your family in the future.

PS we bought our TSs from the developers too and spent much more money than we had to because we had no idea about resale at the time. But we’ve been staying in TS units for so many years now (20+) that an ordinary hotel room just doesn’t cut it for more than a couple of nights.

Learn and enjoy!

 

[OldGuy]

I'm going to Menard's.

Wow!!! Now there's a truly amazing store. I knew there was more out back, but never realized how much.

This week it's 11% Off Everything, but I don't think anyone will take them up on that.