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Thankful to find TUG! Survey included

Discussion in 'New to Timesharing? Look Here!' started by EGerb14, Sep 20, 2018.

  1. EGerb14

    EGerb14 Guest

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    Hello all,

    We did our presentation Friday (9/14) at Grand Waikikian and were sold on believing we got a great deal, Odd year 3,400 Gold point with 7,000 bonus points (after reading other posts nothing more than mediocre at best) for just over 14k at Tuscany Village 1Br. I found this website a few hours after the presentation and immediately felt regret and started the letter to rescind that will go in the mail as soon as we get home within our 7 day window. We still have a desire to join HGVC or Marriott (not sure yet) and will buy resale after doing more research. While still on vacation we rode in the elevator with a very happy couple with their new owner folder, we started conversation that we had just purchased as well and before getting off the elevator I mentioned they might want to look at this forum and that we were rescinding (so if the couple from the elevator happens to read this I hope you have found helpful information on this website!). Our rescission letter is on it's way, most likely won't get to Hawaii in time for the 7 day deadline (9/21) but was postmarked today (9/20).

    With that story out of the way I have found so much good information on this site and can't thank you all enough. After the couple days research I have done when we look to purchase resale we will most likely look for a platinum season annual 5k or 7k points 2br since we do travel quite a bit and love traveling with friends, we went with the initial deal to also take advantage of RCI and open season knowing we could upgrade later.

    If desired here is the standard questionnaire:

    1) Is there a vacation destination you wish to visit most of the time or on a regular basis? if so where?
    -- We do a decent amount of florida travel but try to go somewhere new every year

    2) Do you want to visit your home resort at least half the time, or do you want to trade more than half the time?
    -- probably 25-50% at home resort. We want to explore more of the world but when we have kids in the next 3-5 years will most likely settle down traveling to Orlando for
    the parks more often

    3) What are your 5 top trade destinations?
    --California, Hawaii, Europe, Caribbean, Mexico

    4) How many people do you usually travel with?
    --2, occasional 4+

    5) Can you travel any time, or are you locked into the school schedule?
    --Any time

    6) Can you make firm plans 12 or more mos. in advance?
    -- Yes, very flexible with planning for both our jobs

    7) Can you vacation for a full week at a time?
    -- Yes

    8) What level of accommodations do you prefer on a scale of 1 to 5 stars?
    --4+

    9) How much can you afford to spend upfront, without financing?
    --$8,000

    10) How much can you afford to spend every year for a maintenance fee that will come due right after Christmas, and increase each year?
    --1,000-1,500 knowing it only increases

    11) Are you a detail oriented planner?
    -- Me yes, wife no

    12) Do you understand that once you buy a timeshare, it may be very difficult to sell or give away, and you are responsible for all fees, until you do?
    -- Yes

    As stated above, we like HGVC and Hilton hotels and the program on paper but would be open to look into other TS programs. Very thankful to find this forum.
     
  2. breezez

    breezez TUG Member

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    Wyndham 406K
    RCI Points 196K
    Make damn sure you send that letter certified return receipt so you have proof you sent it by deadline. Just standard postage would likely end in them saying it was not sent in time. Also follow directions in your documents to a tee!

    Ok now I’ll read the rest of your post!
     
    EGerb14 likes this.
  3. Passepartout

    Passepartout TUG Review Crew: Veteran TUG Member

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    I don't think the HGVC business office is in Hawaii, and sending a rescission letter to the resort will only slow the process. But I'm pretty sure the address is in the contract.

    Anyway, there are some experienced brokers who are TUG members and specialize in HGVC ownerships. Seth Nock is one, there are others- look in the HGVC forum and stickies. They are experienced in shepherding a resale purchase through ROFR.

    Welcome to TUG. There are also other 4+ star TS companies that might interest you- with more facilities in desirable locations. HGVC is not the only game in town.

    Stick around TUG. Read a lot. Educate yourselves. Become knowledgeable consumers.

    Good Luck and happy hunting.

    Jim
     
    EGerb14 likes this.
  4. DannyTS

    DannyTS TUG Member

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    We own Hilton and Vistana (Westin and Sheraton, now part of Marriott). Because you prefer nice resorts, i think you may also want to look at resorts that enroll in Interval rather than RCI. Interval has more top tier properties like Westin, Sheraton, Hyatt, Four seasons, Marriott and others while RCI counts mainly on Hilton and Disney. Because you have the flexibility to travel any time of the year you can take advantage of phenomenal cash deals on Interval (like $600 at Marriott's Frenchman's Cove for a 2 bedroom condo!). This gives you flexibility because you do not have to pay annual maintenance fees if you cannot or do not want to travel.

    We like our Westin Lagunamar because we love the resort, it is a good trader in Interval (meaning good trading power and not high maintenance fees, $1365 for a 2 bedroom lockout every year) and still has a decent rental income if it comes to that, well exceeding the MF. You can probably buy an EOY 2 bedroom platinum and only have $700 maintenance fees per year. I have seen ads on Redweek for about 4k. This way:

    1) you can stay at the resort EOY in a 2 bedroom for one week or stay in one bedroom for a week and a studio another time of the year for another week. You can buy with cash anything else you need on Interval. There is more than plenty out there especially if you are not restricted to the school schedule.
    2) you can lock it off an deposit both in Interval (or just one of course), basically you can have an exchange every year and you can still pay cash for other vacations through Interval

    There are many other possibilities and I am not suggesting that Lagunamar is the only option, i just wanted you to have an idea about what can be done without paying high maintenance fees every year.

    My advise is, whatever you decide:
    1) buy a resort you are going to be proud off: Westin, Sheraton, Hyatt, Four seasons, Marriott, Hilton
    2) only buy platinum season. You pay the same maintenance fees for gold and silver as for platinum but have way less trading power (or points in the case of HGVC). Lower seasons are also harder to rent
    3) look for a resort with low maintenance fees

    I almost forgot, there are resorts that can be enrolled both in RCI and Interval so you can have the best of both worlds with one contract. I own Hilton Craigendarroch for example (no ROFR!) but you also have Sheraton Broadway plantation etc. Keep that in mind if you think you are only going to own one week.
     
    Last edited: Sep 21, 2018
    EGerb14 likes this.
  5. Panina

    Panina TUG Review Crew: Expert TUG Member

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    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
    Welcome to Tug, so glad you found us in time to rescind.

    I will suggest an hgvc affiliate in Marco Island such as Eagles Nest or Surf Club that can be enrolled in the hgvc program, can trade in RCI AND can trade in Interval International.

    I like these because they give me many options. There is also no rofr.

    This will give you the option of using your home resort, converting to hgvc points and going to resorts within hgvc, trading in RCI ( I have used it to trade into Disney Resorts) or trade it in Interval for high end resorts and locations you want to go to that are not in the hgvc system and are not in RCI.
     
    EGerb14 likes this.
  6. EGerb14

    EGerb14 Guest

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    Passepartout
    I don't think the HGVC business office is in Hawaii, and sending a rescission letter to the resort will only slow the process. But I'm pretty sure the address is in the contract.
    ------
    I reread the rescission part of the contract many times to make sure I got it right, my biggest fear was whether to send it to Tuscany (where the purchase property is) or Hawaii (where we signed the contract). But in the contract it stated "Purchaser shall deliver any notice of cancellation to Hilton Grand Vacations, Attn: Contract Services - Rescission, 1811 Ala Moana Blvd, 33rd floor, Honolulu Hawaii 96815"

    Breezez
    yes absolutely sent it Certified with Return Receipt- even had the postal worker stamp the date just to have it on there another time.

    DannyTS and Panina
    Thank you very much for the info, I will definitely add those to the list of things to look into
     
    Panina likes this.
  7. TUGBrian

    TUGBrian Administrator

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    congrats on saving 14k!
     

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