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To keep developer deal or rescind?

Discussion in 'Hilton Grand Vacations Club / HGVC' started by Yb2289, Sep 28, 2018.

  1. Yb2289

    Yb2289 Guest

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    I attended a presentation on Saturday and ended up purchasing a 1BR during platinum season at HGVC Parc Soleil. This gives me 4800 points every other year. They also threw in 9,600 bonus points that will be available in 6 months. All this for $19,500. The maintenance fees are 956 every other year and 170 every year.
    I have looked up the resale value for properties here and have come up with prices as low as 4K to as high as 22k. My question is if this was a good deal from the developer that I should keep. Or, should I rescind? I have 10 days to rescind and I am currently on day 6.
     
    TUGBrian and Chop999 like this.
  2. vacationtime1

    vacationtime1 TUG Member

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    You answer your own question with the bolded language. If you can buy for $4,000, why pay more?

    Rescind.

    Others will chime in, but I believe you can buy this interval for considerably less than even the $4,000 price you saw.
     
    Last edited: Sep 28, 2018
  3. Talent312

    Talent312 Tug Review Crew: Rookie TUG Member

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    The prices that HGVC charges = highway robbery... no matter how many bonus or HHonors points they throw at you. Those points will disappear soon enuff and you will be left with a TS for which you paid way too much. Resale buyers get every perk that retail-buyers do, and HGVC treats them (us) just like retail-buyers, except only that it won't count toward elite-status (which even elites will tell you is not worth the extra $$).

    The higher resale prices are from peep who sadly, do not understand that they can't sell a TS for anywhere close to what they paid for it. The low-end prices on Redweek, closed ebay auctions, and reputable brokers like www.sellingtimeshares.net and www.judikoz.com, are better reflections of reality.

    IOW... RESCIND. Follow the instructions in the contract (near the end) to the letter, even through you may think there's a better way, and thank your lucky stars that you saved a ton of $$.

    BTW, we think HGVC itself is a fairly consumer-friendly, super-flexible system. But you have to avoid the weasels in the sales-division. When they call you to try to get you to change your mind, don't answer the phone. If you do, don't engage in conversation. Just say: "Not gonna happen. <click>"
    .
     
    Last edited: Sep 28, 2018
  4. dayooper

    dayooper TUG Member

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    Recind. Then do your research on what’s best for you (is there a specific location you want, purchase price, maintenance fees per point, etc).
     
  5. Smclaugh99

    Smclaugh99 Guest

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    Agree with above - Rescind ASAP. Just search “HGVC” on EBay and you will find very good annual points deals for a lot less than they charged you for EOY points. All of the Orlando properties have good availability at almost all times of the year. It is NOT necessary to own there to get in there. If you prefer EOY, they are out there dirt cheap and Hilton usually does not gobble them back up. Look at ROFR.net and almost all EOY sales pass ROFR. In terms of bonus points, anything less than 20,000 is an insult.

    Good luck!

    Sean
     
    Last edited: Sep 28, 2018
  6. Panina

    Panina TUG Review Crew: Expert TUG Member

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    Welcome to Tug. Rescind and save your money. I was able to obtain a 4800 point hgvc affiliate for free. Where you purchased you can get it for less then $4000. Best to stick around and learn as much as you can.
     
  7. brp

    brp TUG Member

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    To add on to the others. The answer (for HGVC- there are cases with other TS developers where this may not be the right answer) is that it is never a good deal from the developer.

    I'm generally against absolutes like this. And someone could possibly find some example where this might not hold. However, it is so universally true here that I'm still willing to go with the absolute.

    Rescind. Then use some of the substantial savings to become a TUG Member.

    Cheers.
     
  8. 1Kflyerguy

    1Kflyerguy TUG Review Crew: Rookie TUG Member

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    I will agree with the rest and recommend you rescind and consider resale.

    The bonus points are really just a rebate or discount on your purchase price. In your case, you got twice the regular points so i would value those at twice the annual maintenance fee. That is just a bit over 2K off the purchase.
     
  9. DannyTS

    DannyTS TUG Member

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    I do not believe that the 9600 bonus points are worth more than $2000 (i am being generous actually). But you can insert your own number. If you subtract this amount, you pay $17500 for 4800 points EOY. I doubt that you would have to pay more than 2500 for the same number of points resale.
    You can also do better with the maintenance fees, they are not at the lower end of the range. I am paying $800 for 7000 platinum point every year. The only reason why you would want to pay more in maintenance fees is to have home resort priority. IMO that is worth nothing at Park Soleil since it is one of the easiest resorts to book on points.
     
  10. Yb2289

    Yb2289 Guest

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    Thank you all. I am writing the letter tonight and heading to post office first thing in the morning.
     
    DannyTS, vacationtime1 and Panina like this.
  11. dayooper

    dayooper TUG Member

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    ^^^^This^^^^

    Unless you are buying into a particular resort to stay there for your home week, then I would look to get the most points per dollar you can. @GT75 has a great spreadsheet in the stickies above. If you are looking for a particular week in Hawaii at a particular resort, a particular winter/spring week one of the SW Florida Affiliate or a ski week at Valdoro or Park City, then low maintenance fees is the way to go.
    Non Trump Tower Vegas (it's maintenance fees are high) or Sea World in Orlando are good price per point resorts. Vegas is great because the property taxes are so low that it can keep the cost down.

    Welcome to the community. Pay the $15 and become a member. You access to some of the best reviews on the resorts. Stick around and learn some valuable information. It will help you choose the right unit for the right price.
     
    CalGalTraveler and Yb2289 like this.
  12. GT75

    GT75 Moderator

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    Welcome to TUG. Please make sure that you follow the instructions exactly and get all the people who signed the contract to sign the rescind letter. Also, send the letter via certified mail so that you get a receipt that it was received.

    After that is done, you can then take your time and research to see if HGVC or another TS company meets your needs.
     
    Nomad420 and Yb2289 like this.
  13. Yb2289

    Yb2289 Guest

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    So I sent my letter in on Saturday. Today, I’ve received two calls and a text from the sales person I worked with. She is asking me to call her back to confirm the cancellation. Does she really need to me to confirm or is this a gimmick to try to get me to keep it?
     
  14. dayooper

    dayooper TUG Member

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    Gimmick. She wants another shot at trying to convince you to not recind.
     
    TUGBrian likes this.
  15. Panina

    Panina TUG Review Crew: Expert TUG Member

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    You do not need to call her. She will try to convince you to change your mind. She will only make her commission if you stay in the deal.
     
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  16. Talent312

    Talent312 Tug Review Crew: Rookie TUG Member

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    The temptation is to be polite and return the call.
    Resist the urge. The clock is now ticking on them.

    If you must say something, just say: "She's dead, Jim."
    Nothing else.
    -- Source: Dr. McCoy, Star Trek

    .
     
    TUGBrian likes this.
  17. Chop999

    Chop999 TUG Member

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    I’m so glad that I found TUG. We just bought this same deal at the presentation yesterday (Las Palmeras in Orlando). We were told by the salesman that HGVC couldn’t be found on the secondary market because of ROFR. I plan to type the letter tonight to rescind and mail it when we get back home. Although I guess I could print it at the business office at HGVC Sea World where we are staying and mail it here locally. I’ve read so many posts and stickies on here that I am thoroughly confused. I would like to own 4800-7000 or so points for every year or would settle for EOY. I looked at the listings on here but now have no idea how to tell if it’s a good deal or not. My kids are 6 & 9 and love seaworld right now. I was thinking they may age up and outgrow it in a couple years so maybe somewhere like Universal would be good. The salesman told us they were building a new Universal just outside where Las Palmeras is located. So I honestly don’t really even know where to buy or if it even matters where my home Resort is or if it’s a big deal for us to buy Platinum if we frequently like to travel the first week or two of October (fall break for their school) which is outside that season. Panina I was going to send you a PM to see if you’d hold my hand through the process but I don’t want to be anyone’s burden. I’ll take all the help I can get though. And sorry to hijack a thread while adding a success story to it.
     
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  18. GT75

    GT75 Moderator

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    @Chop999, welcome to TUG. First things first, get the rescind letter mailed first. After that is done, you will have plenty of time to research what is best for you and your family. You have come to the right place. We have a wonderful group of HGVC users (which of course includes @Panina) who are all willing to help.
     
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  19. dayooper

    dayooper TUG Member

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    With a HGVC, the only time it matters where you stay is if you want the home season reservation window advantage. Unless you want a ski week at Valdoro/Park City, a fixed week at one of the SW Florida resorts or you want to be able to book at a high priority time (Spring Break, Christmas etc.). Unless you plan in going to the Sea World resort most of the time (you would save the club booking fee if you book your home resort unit/season), it’s not that important your location.

    With 2 kids, you will want the 2 bedroom. I suggest buying platinum season. At each individual resort, HGVC charges the same maintenance fees per unit size, no matter the season. A regular 2 bedroom at the Boulevard is charged $844 no matter the season. Whether it’s associated with 5000 points (gold) or 7000 (platinum), the maintenance fees are the same. The Sea World 2 bedroom is around $1100.

    Now, I’m not sure how hard it’s to book Sea World, but a Vegas 2 bedroom platinum has the best bang for your buck (unless you are counting Craigendarroach in Scotland). Sea World has great maintenance fees too. Just not as good as the Vegas properties.
     
  20. Chop999

    Chop999 TUG Member

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    Thanks @GT75. Btw, I paid for a membership but I’m not sure how to switch from guest. I found this site last night and read all night and went to a theme park all day so I’m exhausted. It’s highly possible I just missed an obvious link.
     
  21. GT75

    GT75 Moderator

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    In general, the HGVC Orlando resorts are not hard to book during club season. I personally wouldn't own there just to get "Home Week" advantage. I do agree with the advise in your post. Usually, @dayooper also points new users to our MF (maintenance fees) Sticky at the top of our HGVC forum. In there, you will find a spreadsheet with all of the MF/points sorted by lowest cost. If you are going for lowest cost MFs, this is a very good resource.
     
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  22. GT75

    GT75 Moderator

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    You should have received a BBS member codeword which must be entered on the TUG web site. If you have issues, please PM me or TUGBrian.
     
    Chop999 likes this.
  23. Chop999

    Chop999 TUG Member

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    @dayooper Thanks for the advice. You’ve also brought up a point to consider...I’m 40 my wife is 35...kids are 6 and 9...the wife and I will vacation well beyond the ~12 years we have left with them. So does it matter where my home Resort is? Because I’m sure we won’t be coming to seaworld when we are empty nesters. Anyone feel free to chime in if you’ve been in my shoes.
     
  24. Talent312

    Talent312 Tug Review Crew: Rookie TUG Member

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    It is true that Universal has bought ~575 acres to the North and East of Las Palmeras. There is speculation that it will be a new theme park, but no one knows for sure... it could just be a commercial complex and warehouses.

    It really matters not where you buy, since you can book virtually any HGVC resort at 9-months out (when all points are just points), unless you are intent on going to a high-demand locale (NYC, Honolulu or mountains in ski-season) for which you may want a home-week advantage (in your season, 12-9 months out). Orlando doesn't get a high-demand rating due to oversupply.

    The real reason for wanting platinum is that MF's are based on size, not season, so platinum gets you more points per MF$ than does gold, silver or bronze. You'll pay a premium up front, but you could enhance your travels considerably over the long-haul.
     
  25. magmue

    magmue TUG Member

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    And as a secondary reason, it is usually easier to resell a platinum week when you are ready to move on to something else than weeks in less desirable seasons.
     
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