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Trade in with HGVC

Discussion in 'Hilton Grand Vacations Club / HGVC' started by Mosescan, Jan 26, 2018.

  1. Mosescan

    Mosescan TUG Member

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    Location:
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    Resorts Owned:
    HGVC - Vegas Blvd, Craigendarroch lodges x 2
    I'm curious about trading up with the developers, ie the HGVC staff.

    Has anyone ever traded in more than one unit at a time as part of a trade up deal with the developer?

    I understand that they will offer to "legitimize" your resale unit by trading it up to a larger unit for a price. What are the offers you have received as resale owners?

    My goal is to get rid of my 5000 point Vegas gold unit and get a Platinum 1 BR Premiere Luxury 16800 point unit in the Grand Islander. For no other reason that it will get me to elite premiere. I am smart enough to not want to do this as developer prices and so am looking for a way to play the system and do this for as little money as possible. I managed to get to elite plus status this winter by getting 2 x 9600 point resale units from HGVC Craigendarroch in Scotland. Cost $11200 US each with maint fees of around $1200 US per year. I could get there by purchasing two more units from Scotland but then I would have 2 more maint fees. If I could get an upgrade to this unit for what it would cost me to buy the two resales in Scotland then I would break even. Even if it cost me $10k more I would break even after 10 years with the difference of maint fees.

    Thanks
     
  2. Tamaradarann

    Tamaradarann TUG Review Crew: Veteran TUG Member

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    I commend your thinking. I believe that they would certainly make the deal of you trading in your 5000 point 1 BR Gold unit for the 16,800 point 1 BR Platinum Luxury unit. However, I have no idea how much it would cost. I didn't even realize that a Platinum 1 BR Luxury unit with 16,800 point existed. They will probably give you whatever you paid or whatever the original cost of the 1 BR Gold went for. However, they may even be getting $100,000 for a 1 BR luxury unit with 16,8000 points. You will need to pay the difference.
     
  3. csodjd

    csodjd TUG Member

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    Developer prices at Grand Islander are WAY up there.
     
  4. Mosescan

    Mosescan TUG Member

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    That, I believe, is why this will never work. I'm sure the price for that unit is ridiculous and I'm not prepared to pay the actual difference! That's why I wondered if I had a Kingsland 12600 point deed along with my Vegas deed if that would get me close enough to make the deal for a reasonable amount. I think with patience and time I could pick up a Kingsland deed for a good price if it would give me enough trading value. Judging by what some people are trying to sell the high point units for I'm guessing the sales price from the developers must be insanely high. I saw someone asking $325k for a unit with almost 29000 points. I think it was a 3 BR penthouse. I'm guessing there is not a lot of these 1 BR premiere luxury units but if it's the same maintenance fees as the regular 1 BR units ($1200) then that's an outstanding maint fee to point ratio!

    It's worth a discussion to at least see if they will tell me what it would take to get that unit or if they would even be willing to deal on a unit like that as I'm guessing it's highly desirable.
     
  5. CalGalTraveler

    CalGalTraveler TUG Member

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    That is a fantastic MF and may be worth consolidating if the price is right. We were researching an upgrade last summer and as stated previously it appears that they take the list price of the units and you pay the difference. They also use some formula that it has to be either min $10k upgrade or $20k upgrade but I believe it depends on the property.

    The rep told us that we could not trade in for GI because GI is a third party property and only HGVC properties are eligible...(caveat the sales reps lips were moving and policies may have changed so I would still try.)

    Another tactic would be search for a distressed GI resale when prices come back to earth. Below is an Oahu realtor site mentioned by another Tugger that seems to handle a lot of GI. (YMMV...I have never dealt with them so cannot vouch for their professionalism.) Perhaps you could contact the realtor to be on the lookout for you. (and also contact Syed too since he also seems to be tuned into Hawaiian properties tho he is located on Maui.)

    http://akamaitimeshare.com/en/tower/22
     
    Last edited: Jan 27, 2018
  6. 1Kflyerguy

    1Kflyerguy TUG Review Crew: Rookie TUG Member

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    I have heard that numerous times in the Facebook groups, so i assume it correct. People there have reported that they won't accept third party developed properties as trade-in, nor can you use your HGVC developed properties as "equity" to trade up to a third party developed property. I have not personally tried either, so can't really state that with certainty, but I have seen multiple people complain about not being able to trade their Elara, Oceans 22, etc units.
     
  7. Mosescan

    Mosescan TUG Member

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    The 2 BR Luxury (19200 points) is selling for $115k on that site so I'm guessing the 1 BR luxury wouldn't be far behind in price. It will be interesting to see what they want to trade up to that one for a reasonable upgrade fee.

    You hit the nail on the head with the comment about waiting for prices to come back to earth. The owners of GI properties that are trying to sell likely still have that deer in the headlights look on their faces as they try to come to terms with what their TS is really worth. I know it was a big shock to me, but thanks to this site, I am much better educated and going in with a purpose. I was pleasantly surprised to see HGVC at Craigendarroch selling resales which is how I ended up on the hunt for elite premiere! LOL! They always get you in the end!
     
    Last edited: Jan 27, 2018
  8. Mosescan

    Mosescan TUG Member

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    Has anyone that owns at Kingsland been offered an upgrade? I'm wondering what it would cost to upgrade from a 1 BR Plus 9300 point unit to a 1 BR premiere 12600 point unit? As the KL prices are starting to be more realistic, that may be another way for me to get to elite premiere for a lower cost.
     
    CalGalTraveler likes this.
  9. CalGalTraveler

    CalGalTraveler TUG Member

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    This might be a more feasible plan. Kingsland developer prices are less expensive than Oahu. With Ocean Tower sales commencing, they may be less aggressive with ROFR on surrounding properties with resales as well.
     
  10. 1Kflyerguy

    1Kflyerguy TUG Review Crew: Rookie TUG Member

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    I did an update at Kings Land last year as part of a VIP stay. Think they wanted a ton of new cash to trade up to one of the 14K units at Kings Land.

    If your serious about trying to trade up with with one of your existing units, i would would call and talk with someone in the corporate sales team out of Orlando. They always claim to have the most inventory, best deals etc. I have no idea if thats true... In any event, I find the sales presentations over the phone are lower pressure, and easier to deal with. You can take your time, say you need to talk with your spouse at night, etc.. Plus you don't tie up half of a vacation day sitting around the sales center..

    Think i did three of the phone presentations before i stopped answering unknown callers.. One of was a crazy stupid offer, and one more typical upgrade offer. In the end, i did not purchase anything over the phone.
     
  11. SmithOp

    SmithOp TUG Member

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    I toyed with corp sales about two years ago, at the time they wanted $25k “new money” to do any trade in deals. I had $30k equity at the time and they wanted another $50k to trade up to a 14.4k 2br premier at Kingsland, plus a boatload of bonus points. I have an original price sheet for Kingsland, list price on those units was $87k, so they offered a small discount. I declined.

    I subsequently found what I wanted resale, listed in the TUG Marketplace.


    Sent from my iPad using Tapatalk Pro
     
  12. Mosescan

    Mosescan TUG Member

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    We'll be there in April. I week at Kingsland and 1 week at HHV GW. I'm going to have a very frank discussion with him about what I want and how I can get it. In the end I think I'm likely to just buy a couple of more resales from Craigendarroch where I got my last two as they are brokered by HGVC there and count toward elite premiere status. I'm guessing buying resale and trading up with developer will be prohibitively expensive even if I can get a large point unit with great maint fees.
     
  13. DLAU81

    DLAU81 Guest

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    Any updates on this? I’m new to TUG was quite interested because i have my owners update this week and was wondering if i could trade in my 3 units to GI. Don’t know how much new money is involved.
     

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