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HICV resale value?

lckrainik

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Hi, I am new to TUG and seeking advice for selling my timeshare at Lake Geneva WI. I'm trying to get an idea of value before I list it. I don't want to be unrealistic, but I have read that this timeshare might have some value, since it is one of only three HICV resorts that will stay as points. It's 118,750 points per year, and includes all 2016 and 2017 points. (2016 its will expire Dec 31). Any thoughts??
 

ssreward

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I got one there (137.5k) for free plus $200 incentive with 2017 usage included not long ago. But I haven't seen a lot for sale so no clue if that was an unusually amazing deal or not. [Redacted - Please send a private message instead.]
 
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lckrainik

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Not exactly what I wanted to hear, but thanks for the info!
 

Tank

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Ebay does the best, having 2017 points available is a bonus for sure. 2016 points are not going to help you. Sumday does a good job with ebay, I don't know what the cost would be if you don't want to deal with it.

Holiday Inn is getting about 16 grand for a 100,000 point unit, because the points will go to the point owner. So your unit has value.

Thats where Ebay comes in, bidding has been known to hit over $2000.00 especially if you promote the sale on the facebook pages.

HICV is using ROFR more often.

Have you thought about renting some out to pay for the system ?

Dave
 

tschwa2

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Right of First Refusal means you have to find a buyer and submit the offer to HICV usually in the form of a signed purchase agreement from the buyer you found. HICV then has the option to buy it with the same price and terms or has a certain number of days to let you know they are waiving their right to ROFR and you can proceed with the buyer that you already found.
 

lckrainik

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Right of First Refusal means you have to find a buyer and submit the offer to HICV usually in the form of a signed purchase agreement from the buyer you found. HICV then has the option to buy it with the same price and terms or has a certain number of days to let you know they are waiving their right to ROFR and you can proceed with the buyer that you already found.

I've read over the information on Lake Geneva's info regarding selling, and it mentions nothing about ROFR. They have their own management company, so does anyone know for sure if ROFR would apply to them? Following taken from their HOA page:

Selling Your Timeshare
You may find that due to changes in your lifestyle or financial position you are no longer using your timeshare. Orange Lake Resorts does not offer a resale program, but you may sell or gift your week to your friends or relatives or list it for sale on a website such as Redweek, eBay or Craigslist. Contact an attorney to prepare the appropriate documents and have them recorded in the public records to ensure a legal transfer of title. You may also consider contacting a timeshare resale company.
 

Tank

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ROFR is no skin off your back no matter what, you want out.

HICV has the right unless its immediate family to the ROFR rule, I just finished with a Lake Geneva resale. This is no big deal for you wanting to get out, you will either way.
The person buying it has a better chance getting this cheap adding these points if they pay some $$ vs $1 It is worth a chance for both of you.

Buyer would get all money back, and you would be free of your burden , a win / win
 

tschwa2

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I agree. As a seller you don't need to worry about ROFR until you have a buyer and then you only need to worry about submitting an extra piece of paperwork which your closing company will take care of. As a seller you want to get the most money possible and the buyer wants to pay the least possible although if worried may offer a little more if worried about ROFR. In general unless a developer consistently exercises ROFR below a certain level, even buyers should ignore and offer want they want because if it happens to be taken by ROFR another deal will come along.
 

skotrla

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Hi, I am new to TUG and seeking advice for selling my timeshare at Lake Geneva WI. I'm trying to get an idea of value before I list it. I don't want to be unrealistic, but I have read that this timeshare might have some value, since it is one of only three HICV resorts that will stay as points. It's 118,750 points per year, and includes all 2016 and 2017 points. (2016 its will expire Dec 31). Any thoughts??

Since this is a relatively low maintenance unit and includes 2017 points, it could go for as much as $3.1K with closing to the right buyer (this is what I would price it at). I maintain a list of units for sale and can add you to it if you want to PM me. I'm a buyer at about $1.4K plus closing, assuming it's got annual maintenance costs similar to other Lake Geneva units I've seen.

-Scott
Owner, HICV Google+ Group
 

ssreward

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Since this is a relatively low maintenance unit and includes 2017 points, it could go for as much as $3.1K with closing to the right buyer (this is what I would price it at). I maintain a list of units for sale and can add you to it if you want to PM me. I'm a buyer at about $1.4K plus closing, assuming it's got annual maintenance costs similar to other Lake Geneva units I've seen.

-Scott
Owner, HICV Google+ Group

Can you point me toward the list of units for sale you maintain? I'm looking for another Geneva unit, thanks!
 

lckrainik

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Since this is a relatively low maintenance unit and includes 2017 points, it could go for as much as $3.1K with closing to the right buyer (this is what I would price it at). I maintain a list of units for sale and can add you to it if you want to PM me. I'm a buyer at about $1.4K plus closing, assuming it's got annual maintenance costs similar to other Lake Geneva units I've seen.

-Scott
Owner, HICV Google+ Group
Sorry, I forgot to include the maintenance info. Last year was just under $700, including property tax, but not including HICV membership. I will PM you about adding to your list.
 

TUGBrian

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shame that HOA doesnt suggest their owners use TUG :(

especially since they could give their ownerships away for free in the bargain deals forum without even having to join.
 
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