Restrictions on resale purchase?

[rtp]

I am considering entry to the HGVC. I have not had a sale pitch at any onsite location. I have only spoke with a corporate sales agent from their main HQ in Orlando. She told me that if I bought a resale, I not have the same trading ability with my points through their system and would only be able to use my home resort on the week purchased.

Could this be true? Am I misunderstanding the agent? Can this restriction be found in writing somewhere?

 

[RX8]

Not true and surprised that lie came from a representative in their main office. Oh who I am kidding, you spoke to a timeshare salesperson. Most timeshare salespeople have a common trait and that is to lie like a dog to make a sale.

 

[dayooper]

I am considering entry to the HGVC. I have not had a sale pitch at any onsite location. I have only spoke with a corporate sales agent from their main HQ in Orlando. She told me that if I bought a resale, I not have the same trading ability with my points through their system and would only be able to use my home resort on the week purchased.

Could this be true? Am I misunderstanding the agent? Can this restriction be found in writing somewhere?

I just closed on my Vegas Flamingo resale in September. I booked Ocean 22 in Myrtle Beach the following month. I don’t even have a date listed on my deed so I don’t know how they could force me to use the week purchased when I didn’t purchase a week.

 

[tombanjo]

If you read lots of posts you will see where people mention "I bought resale for the low MF / points ratio at such and such, but I've never once stayed there" because the fact is resale is not going have any diminished booking value over developer.

 

[PigsDad]

The salesman told a bald-faced lie, period. HGVC is one of the best systems for resales, as the ONLY difference is that resale purchases do not count toward Elite status. Every other perk is available to resale owners. If anyone tells you anything to the contrary, they are lying.

Kurt

 

[rtp]

Thank you all for the replies. ....

Is Elite status in reference to the Hilton Hotel status or is there a separate HGVC tier status?

 

[brp]

Thank you all for the replies. ....

Is Elite status in reference to the Hilton Hotel status or is there a separate HGVC tier status?

Separate and, by all accounts, not worth it. Do a little searching and poking about here and you can find lots of good information on all of these topics.

Cheers.

 

[tombanjo]

https://club.hiltongrandvacations.com/en/club-membership/elite/benefits

You can achieve some of the same benefits from buying some into "by hilton club" properties resale as well. But even points conversions or gold status at hilton hotels is not worth going out of your way for.

 

[escanoe]

Restrictions on resale purchase?

The only significant restriction worth noting is the one the sales staff did not share with you. For resale units the sales price may be restricted to being as little as 10% of what the developer charges.

 

[hurnik]

https://club.hiltongrandvacations.com/en/club-membership/elite/benefits

You can achieve some of the same benefits from buying some into "by hilton club" properties resale as well. But even points conversions or gold status at hilton hotels is not worth going out of your way for.

There's a sad (IMO) posting on the FB group where some couple spent $95,000 to buy (direct) to the Elite Plus level. I'm not sure if that's the "cheapest" direct price, if it's "average" (My guess is that it really depends on where you buy to get the 24k points from Hilton). I have 22k points, granted it's on 4 contracts, so I have 4 MF of $3,650 (give or take) but only spent about $15k (some of the resales were years ago when prices were even higher).

I'd have to run the numbers, but am pretty sure it would take a long time to recoup the $80k price different with the "free" benefits of Elite Plus (although possibly a single 24k contract would have lower MF).

But kudos to the OP who is smart (unlike me as I originally purchased direct) and doing their homework first. Way to go!

 

[CalGalTraveler]

But kudos to the OP who is smart (unlike me as I originally purchased direct) and doing their homework first. Way to go!

Which Facebook group are you referring to? I see several when I search and am not sure which is the best.

I believe a majority of Tuggers and certainly most TS owners bought direct on their first purchase. Wow, I am glad we spent no where near $95,000. And we have a desirable unit that still retains some resale value so we are lucky that we will be able to get rid of it someday.

The loss of the retail value was a wake-up call to maximize what we own and research (probably over-research) resale to not make the same mistake again. The value of the resales more than make up for the first loss.

 

[PigsDad]

Which Facebook group are you referring to? I see several when I search and am not sure which is the best.

I have found the "Hilton Grand Vacation Club Members" group to be the most active, but I am also a member of the "Hilton Grand Vacation Owners Page" group as well, but there is often overlap / duplicate posts to those two groups. It is interesting and eye-opening at times seeing the posts in those groups. The resale mantra is not very prevalent, and I would say most members of those groups believe purchasing direct is the better way to go. My participation is mostly for information about the resorts; while I will provide resale information, I have learned not to push it there.

Kurt

 

[hurnik]

I have found the "Hilton Grand Vacation Club Members" group to be the most active, but I am also a member of the "Hilton Grand Vacation Owners Page" group as well, but there is often overlap / duplicate posts to those two groups. It is interesting and eye-opening at times seeing the posts in those groups. The resale mantra is not very prevalent, and I would say most members of those groups believe purchasing direct is the better way to go. My participation is mostly for information about the resorts; while I will provide resale information, I have learned not to push it there.

Kurt

Yeah, those two groups. As Kurt mentioned there's overlap.
Some folks are very uh, adamant that resale is "dangerous" and they *love* buying direct and will even request that nobody reply to their post about resale.

A few are just new folks (like myself way back when) who didn't know better, and appreciate the rescind/resale (but obviously you risk getting pounced on by others if you suggest resale). Unfortunately I didn't find TUG until like my 1st developer "upgrade" (too late to rescind).

I will say I'm amazed by how many folks would object to paying full MSRP for a car, but have no qualms about paying full direct prices for a timeshare and get all annoyed if you advise them to rescind and save them thousands (or tens of thousands) of dollars. Oh well, their money.

Although I'm sure there's folks who would gasp that I even own a timeshare (LOL) and how "bad" it is. Don't know where those folks vacation at, but I'd be pressed to get a 2 BR "hotel" with full kitchen, living room, washer/dryer for under $150/night anywhere. Heck, where we're at by the time you get taxed to death, a "studio" (timeshare speak) typical hotel at Hilton/Marriott will run you easily $150/night. Although perhaps AirBnB and VRBO may offer "better" deals, I like to have pools and such (obviously I do *NOT* vacation in Jan/Feb in the Northeast--LOL).

 

[brp]

I believe a majority of Tuggers and certainly most TS owners bought direct on their first purchase. Wow, I am glad we spent no where near $95,000. And we have a desirable unit that still retains some resale value so we are lucky that we will be able to get rid of it someday.
.

We bought direct, but then thought better of it and rescinded

We did buy HCNY direct, but then Hilton wanted to buy it back as they were changing the deed type. We could have gotten more had we held out longer.

Cheers.

 

[CalGalTraveler]

To play on an old saying.

"That (retail purchase) which doesn't kill you only makes you stronger (to buy resale)."

 

[Hsahota1]

Elite members received a globe

 

[Jacqueet]

Which Facebook group are you referring to? I see several when I search and am not sure which is the best.

There is also a Facebook page for HGV Resales: Hilton Grand Vacation Club resale bulletin board.