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Saved $20,500 on timeshare! Thanks TUBBS!

Discussion in 'Buying, Selling & Renting Timeshares' started by Grammarhero, Jun 9, 2019.

  1. Grammarhero

    Grammarhero TUG Member

    Joined:
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    Location:
    Washington, DC Area
    Resorts Owned:
    DRI South Bend, EY Red Float, 1BR1BA
    Williamsburg Plantation, EY Wk 15, 4LBR4BA
    Wyndham 192k pts
    Been to:
    Intl: Aruba, Aus, Bah, China, Jpn, HK, Macau, Mex
    US: AZ, CA, DC, DE, IL, IN, KY, MD, NC, NJ, NV, NY, OH, OR, PA, TN, TX, VA, WA, WV
    I went to a free weekend gateaway at a timeshare resort which was actually really fun and memorable. However, there was going to be a sales pitch. Reading and researching TUBBS for five hours, I knew I could get the exact same timeshare for $1,000 ($400 RedWeek commission and $500 transfer fee). Only drawback with a resale was inability to exchange weeks at other resorts.
    I even practiced my lines of saying no politely and as a hard-ass.

    After the rather pleasant tour, the salesman offered $25,000. I said no because I was considering the secondary market. The salesman’s pushy supervisor offered $9,600, a returned unit, which I also declined.

    Then the Sales Director was actually pretty nice and seemingly respectful that I would decline his employees’ offers. He offered $4,500 for a returner unit, plus the exchange program and an extra week at their affiliated resorts.

    I did the calculations in my head. The extra week at affiliated resorts cost $200/yr to redeem, but it normally costs $700, thereby saving $500/yr if I go with this option.

    The exchange program costs $340/yr. A week at other resorts costs $700, thereby saving $360/yr if I go with this option.

    I essentially paid $3,500 for the right to save $500/yr or $360/yr, which is a calculated risk. It will take me 7-10 years to break even, and then I would just be saving after that.

    I did save $20,500 from the initial offer, partly thanks for TUGBBS. You people are amazing!
     
  2. TheTimeTraveler

    TheTimeTraveler TUG Member

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    Welcome to TUG. We're glad you tuned in here first before purchasing.

    For the benefit of everyone's curiosity please post the name of the timeshare that you purchased.

    Glad you saved some big bucks.


    :banana:




    .
     
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  3. Panina

    Panina TUG Review Crew: Elite TUG Member

    Joined:
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    Location:
    USA
    Resorts Owned:
    Hgvc Eagles Nest, Hgvc Surf Club, Hgvc Indian River, Hgvc Anderson, Sunrise Bay & Club, Chetola, Gulf Tides, Jade Tree Cove, Banyan Resort, Blue Ridge Village
    Hi, welcome to Tug. It’s great you found us prior to the presentation and were so prepared to say no. Hope you stay around on tug.

    Out of curious where was this timeshare? Big drop in price once they realized you were an educated consumer.
     
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  4. PamMo

    PamMo Tug Review Crew: Rookie TUG Member

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    I'm glad you were smart enough to research BEFORE going on your resort tour, but I wonder about your math? How exactly are you saving money on all those exchanges that come only with a developer purchase?

    Almost all resorts are affiliated with one of the exchange companies, and it's possible to get some great deals on exchanges, IF what you want is available. Too often the sales team's promises of incredible exchange opportunities into fantastic resorts seals the deal, and the buyer finds out later that those fantastic exchanges are nonexistent. And then there are those pesky fees that only go up...

    Do let us know what you bought, and we'll let you know if you got a fair deal. Going from $25K to $4,500 sounds great, but what's it really worth?
     
    TUGBrian likes this.
  5. Grammarhero

    Grammarhero TUG Member

    Joined:
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    Messages:
    411
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    Location:
    Washington, DC Area
    Resorts Owned:
    DRI South Bend, EY Red Float, 1BR1BA
    Williamsburg Plantation, EY Wk 15, 4LBR4BA
    Wyndham 192k pts
    Been to:
    Intl: Aruba, Aus, Bah, China, Jpn, HK, Macau, Mex
    US: AZ, CA, DC, DE, IL, IN, KY, MD, NC, NJ, NV, NY, OH, OR, PA, TN, TX, VA, WA, WV
    The timeshare is Shenandoah Villas at Killy Court. It is 1,300 sq for, 2 bedrooms, 3 beds (1 king and 2 queen), 2 sofa beds, living room, and 10 people.

    I travel 2-3 times per year, with each time spending $1000-2000 on hotel accommodations, mostly with Hotwire or booking directly from the hotel. I’ve had sketch experiences with airbnb and mostly prefer hotels. Thank you all for the advice! The exchange is RIC. I still have 6.5 days to cancel.
     
    TUGBrian likes this.
  6. Grammarhero

    Grammarhero TUG Member

    Joined:
    Jun 9, 2019
    Messages:
    411
    Likes Received:
    199
    Trophy Points:
    93
    Location:
    Washington, DC Area
    Resorts Owned:
    DRI South Bend, EY Red Float, 1BR1BA
    Williamsburg Plantation, EY Wk 15, 4LBR4BA
    Wyndham 192k pts
    Been to:
    Intl: Aruba, Aus, Bah, China, Jpn, HK, Macau, Mex
    US: AZ, CA, DC, DE, IL, IN, KY, MD, NC, NJ, NV, NY, OH, OR, PA, TN, TX, VA, WA, WV
    The timeshare is Shenandoah Villas at Killy Court. It is 1,300 sq for, 2 bedrooms, 3 beds (1 king and 2 queen), 2 sofa beds, living room, and 10 people.

    I travel 2-3 times per year, with each time spending $1000-2000 on hotel accommodations, mostly with Hotwire or booking directly from the hotel. I’ve had sketch experiences with airbnb and mostly prefer hotels. Thank you all for the advice! The exchange is RIC. I still have 6.5 days to cancel.
     
    TUGBrian likes this.
  7. Grammarhero

    Grammarhero TUG Member

    Joined:
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    Messages:
    411
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    199
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    Location:
    Washington, DC Area
    Resorts Owned:
    DRI South Bend, EY Red Float, 1BR1BA
    Williamsburg Plantation, EY Wk 15, 4LBR4BA
    Wyndham 192k pts
    Been to:
    Intl: Aruba, Aus, Bah, China, Jpn, HK, Macau, Mex
    US: AZ, CA, DC, DE, IL, IN, KY, MD, NC, NJ, NV, NY, OH, OR, PA, TN, TX, VA, WA, WV
    The timeshare is Shenandoah Villas at Killy Court. It is 1,300 sq for, 2 bedrooms, 3 beds (1 king and 2 queen), 2 sofa beds, living room, and 10 people.

    I travel 2-3 times per year, with each time spending $1000-2000 on hotel accommodations, mostly with Hotwire or booking directly from the hotel. I’ve had sketch experiences with airbnb and mostly prefer hotels. Thank you all for the advice! The exchange is RIC. I still have 6.5 days to cancel.
     
    TUGBrian likes this.
  8. Grammarhero

    Grammarhero TUG Member

    Joined:
    Jun 9, 2019
    Messages:
    411
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    199
    Trophy Points:
    93
    Location:
    Washington, DC Area
    Resorts Owned:
    DRI South Bend, EY Red Float, 1BR1BA
    Williamsburg Plantation, EY Wk 15, 4LBR4BA
    Wyndham 192k pts
    Been to:
    Intl: Aruba, Aus, Bah, China, Jpn, HK, Macau, Mex
    US: AZ, CA, DC, DE, IL, IN, KY, MD, NC, NJ, NV, NY, OH, OR, PA, TN, TX, VA, WA, WV
    The timeshare is Shenandoah Villas at Killy Court. It is 1,300 sq for, 2 bedrooms, 3 beds (1 king and 2 queen), 2 sofa beds, living room, and 10 people.

    I travel 2-3 times per year, with each time spending $1000-2000 on hotel accommodations, mostly with Hotwire or booking directly from the hotel. I’ve had sketch experiences with airbnb and mostly prefer hotels. Thank you all for the advice! The exchange is RIC. I still have 6.5 days to cancel.
     
    TUGBrian likes this.
  9. vacationtime1

    vacationtime1 Tug Review Crew: Rookie TUG Member

    Joined:
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    Location:
    San Francisco
    Resorts Owned:
    MAW & MKW (Kauai)
    WKORV-OFC (Maui)
    WKV x4 (Scottsdale)
    You prove the TUG mantra: Knowledge is power.
     
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  10. TUGBrian

    TUGBrian Administrator

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    Glad you were able to save more than 20 grand from the knowledge gleaned off the great folks here in the forums!
     
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  11. RX8

    RX8 TUG Member

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    Congrats on bringing the price down. Since you have six days left to rescind my suggestion is to read that contract in detail to verify everything they said is in writing. It is common practice for developers to drop the price during a sales pitch. However, in doing so they usually end up with a week that has been stripped of something (EOY, a silver week instead of gold). You would just want to make sure you are getting what you think you are getting.

    I know nothing about this timeshare and I couldn’t find it on eBay. Maybe $4500 is a good deal but more than likely that price is way more than true market value. Hopefully someone with experience at this timeshare will share their experience about the resort and price. Regardless, if you are happy with the price and the resort then that is all that matters.
     
    Last edited: Jun 10, 2019
  12. Panina

    Panina TUG Review Crew: Elite TUG Member

    Joined:
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    Location:
    USA
    Resorts Owned:
    Hgvc Eagles Nest, Hgvc Surf Club, Hgvc Indian River, Hgvc Anderson, Sunrise Bay & Club, Chetola, Gulf Tides, Jade Tree Cove, Banyan Resort, Blue Ridge Village
    I read your initial post incorrectly. I thought you didn't buy. Rescind immediately, follow instructions exactly as stated, make sure everyone who signed the contract signs the cancellation and make sure you get proof of mailing.
     
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  13. Grammarhero

    Grammarhero TUG Member

    Joined:
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    Messages:
    411
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    199
    Trophy Points:
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    Location:
    Washington, DC Area
    Resorts Owned:
    DRI South Bend, EY Red Float, 1BR1BA
    Williamsburg Plantation, EY Wk 15, 4LBR4BA
    Wyndham 192k pts
    Been to:
    Intl: Aruba, Aus, Bah, China, Jpn, HK, Macau, Mex
    US: AZ, CA, DC, DE, IL, IN, KY, MD, NC, NJ, NV, NY, OH, OR, PA, TN, TX, VA, WA, WV
    Noted. I guess I should have still bought resale from TUG or RedWeek? Looks like someone is selling a similar unit for free on TUG, although RCI points aren’t available.

    I did another three (3) hours research on TUGBB, for a total of eight (8) hours. I guess even five (5) hours research beforehand isn’t enough time to be informed enough.

    Thanks TUGBB! You people are the best!
     
    Last edited: Jun 10, 2019
  14. RX8

    RX8 TUG Member

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    There are not a lot of resales for his resort that I can find. If this is the same as Massanutten’s Shenandoah Villas then there are two closed auctions on eBay. One was unsold at a $1 with $99 closing fee. Another one sold for a dollar with all closing fees paid for. The address for the resort for these two is 1822 Resort Dr. There is one active that is listed for $1 with all fees paid. The address on this one is 2 Nelson Ct.

    If these eBay sales are for the correct resort then you would be paying $4500 too much. If and when you decide you want to sell you may have to give it away for free. However, there aren’t many resales out there. Only you can decide if paying $4500, with an understanding you will likely never recoup it, is worth it to you.
     
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  15. Grammarhero

    Grammarhero TUG Member

    Joined:
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    Messages:
    411
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    199
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    Location:
    Washington, DC Area
    Resorts Owned:
    DRI South Bend, EY Red Float, 1BR1BA
    Williamsburg Plantation, EY Wk 15, 4LBR4BA
    Wyndham 192k pts
    Been to:
    Intl: Aruba, Aus, Bah, China, Jpn, HK, Macau, Mex
    US: AZ, CA, DC, DE, IL, IN, KY, MD, NC, NJ, NV, NY, OH, OR, PA, TN, TX, VA, WA, WV
    Thanks. I will rescind. I will buy for $1 from TUG or RedWeek. Appreciate all TUG has done for people. You saved owners $11 million, as well as a lot of heartache and financial stress.
     
    Last edited: Jun 10, 2019
  16. PamMo

    PamMo Tug Review Crew: Rookie TUG Member

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    When we went to our first timeshare presentation, we were blown away by the part where we could exchange "our" resort for vacations into fantastic 4 and 5 star resorts around the world. They showed us a map, then pulled up photos of gorgeous places all over Europe, the South Pacific, Hawaii, California, New York City, etc. They said we would get great discounts on extra vacations, too, as they let us page through the RCI collection of thousands of resorts. We'd be able to book weeks at resorts in this book for next to nothing!

    We didn't buy because, like you, we don't spend thousands of dollars without doing some research. With some time and knowledge, we bought a resale (and then a few more...;)) where we really like vacationing, and we've used RCI and Interval to purchase extra weeks or exchange some of our units. It is certainly not as easy to get what we want as a timeshare salesman will tell you it is!
     
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  17. Brown83

    Brown83 Guest

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    Purchased sheraton flex vacation but cancelled in my 10 day period
    The accept an email to cancel i also have the fax number and email number if needed
     
  18. Grammarhero

    Grammarhero TUG Member

    Joined:
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    Messages:
    411
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    Location:
    Washington, DC Area
    Resorts Owned:
    DRI South Bend, EY Red Float, 1BR1BA
    Williamsburg Plantation, EY Wk 15, 4LBR4BA
    Wyndham 192k pts
    Been to:
    Intl: Aruba, Aus, Bah, China, Jpn, HK, Macau, Mex
    US: AZ, CA, DC, DE, IL, IN, KY, MD, NC, NJ, NV, NY, OH, OR, PA, TN, TX, VA, WA, WV
    I just went to the post office and sent out the recission letter, signed by me and my wife, by return receipt requested and certified mail, exactly as there contract instructs by the contract. I made photocopies of all paperwork and took cell phone pictures of both sides of the envelope with certified mail or return receipt labels/slips.

    In reading the contact and owner policies, the resort has the right to refuse resales for any reason. I’m worried about spending money on admin, closing costs, and transfer fees, only for the resort to deny the resale after seeing my name as a recent rescinded timeshare owner. Should I wait at least two months for the resort to forget my name before buying a resale?
     
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  19. Karen G

    Karen G Moderator

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    Once owned these: FirstFairway@Walden X 2; Lawai Beach; ManhattanClub; PuebloBonitoRose; 4 South Africa--now timeshare-free
    I think that would be another good reason NOT to buy a timeshare there--you'd never be able to sell it or give it away if you needed to.
     
  20. dayooper

    dayooper TUG Member

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    Yup, study the different systems. See where you want to go. Many places you can rent cheaper than the MF’s. Karen makes a great point. Life happens and someday you might need to get rid of a timeshare. You want something that you will be able to get rid of. Having to pay for the closing costs is not a good sign.
     
  21. PamMo

    PamMo Tug Review Crew: Rookie TUG Member

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    Did the paperwork state the the resort has the "right of first refusal" on all resales? That just means the resort has first dibs on buying a week that an owner wants to sell. Other than high demand weeks in a few prime resorts (some Westins, Marriotts, Hilton's, etc.) they RARELY exercise their right of first refusal. They just want you to believe you're buying a really valuable week from them!
     
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  22. Grammarhero

    Grammarhero TUG Member

    Joined:
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    Location:
    Washington, DC Area
    Resorts Owned:
    DRI South Bend, EY Red Float, 1BR1BA
    Williamsburg Plantation, EY Wk 15, 4LBR4BA
    Wyndham 192k pts
    Been to:
    Intl: Aruba, Aus, Bah, China, Jpn, HK, Macau, Mex
    US: AZ, CA, DC, DE, IL, IN, KY, MD, NC, NJ, NV, NY, OH, OR, PA, TN, TX, VA, WA, WV
    It is right of first refusal. I will go through the resale process.
     
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  23. PamMo

    PamMo Tug Review Crew: Rookie TUG Member

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    Don't worry about them blackballing you either, Grammarhero. Once your sale is rescinded, they'll forget all about you and move on to the next prospect.
     
  24. Grammarhero

    Grammarhero TUG Member

    Joined:
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    Messages:
    411
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    Trophy Points:
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    Location:
    Washington, DC Area
    Resorts Owned:
    DRI South Bend, EY Red Float, 1BR1BA
    Williamsburg Plantation, EY Wk 15, 4LBR4BA
    Wyndham 192k pts
    Been to:
    Intl: Aruba, Aus, Bah, China, Jpn, HK, Macau, Mex
    US: AZ, CA, DC, DE, IL, IN, KY, MD, NC, NJ, NV, NY, OH, OR, PA, TN, TX, VA, WA, WV
    Last edited: Jun 11, 2019
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