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Advice needed about "Interval International Club Interval Gold Points-Based Membership Program"

oldLatinTeacher

TUG Member
Joined
Jul 24, 2021
Messages
2
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Points
51
Resorts Owned
Traders Inn Beach Club
I need some advice about a proposed plan for:
Transferring from “deeded owner” (set-week/ location time share) to “Interval International Club Interval Gold Points-Based Membership Program.”

In 1980 an investment company in the Daytona Beach area sold to us a $6228.55 “investment”, Unit 408, week 9, during DB's Motorcycle week. Now, after faithfully supporting this entity for over 40 years I urgently need to get out from under this obligation. Maintenance fees are almost $800/yr. I feel at the mercy of this organization to bill me annually for whatever they want for the rest of my life.

I have tried selling it, paying someone to take it, begging the location to accept a quit claim and now, I have been referred by the timeshare organization to the following plan:
$2799.00 to enroll in this new program with obligation to pay $500/yr dues
+ 1500.00 dues for the 3 year obligation, for which I will be credited 30,000 points/yr**
$4,299.99 to get totally out of this nightmare.

At the end of the 3 years, after I have paid $4,299.99 I am totally free from any other obligation for my old time share and I do not have to buy into the new points-based program.

Is $4,300 a reasonable way to get out from under the financial burden of my existing unit or is there some other option?



** Depending on demand, 30,000 points will get me a smaller unit in a similar building to that I currently have. But I don't really care about the points. I am elderly, disabled and unable to travel.
 

tschwa2

TUG Review Crew: Veteran
TUG Member
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Location
Maryland
Resorts Owned
A few in S and VA, a single resort in NC, MD, PA, and UT, plus Jamaica and the Bahamas
Before paying that much find out how much the transfer fees are and try to give it away on Tug (in the bargain basement forum). Offer to pay the transfer fee and the closing costs. If you can find someone you would likely be out completely by paying less than $1000. You would want to post a full description of the property: Name of the resort, size of the unit, 2021 MF;s check in date for 2022 including which day of the week.

As to the "deal" they are offering, is it from your resort or is it a 3rd party vacation club that says they will take over your week and then give you the points for 3 years for $500. If it isn't something from your resort than you want to stay far away because you may still end up with your deed plus have the new obligation on top of it and that isn't what you are looking for at all.
 

oldLatinTeacher

TUG Member
Joined
Jul 24, 2021
Messages
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Points
51
Resorts Owned
Traders Inn Beach Club
Thank you for responding to my plea for help. Yes, the person selling me on this new program is working out of my resort; he is affiliated somehow with Marriott and/or II. The paperwork I received does not have his name on it but names as the Resort Sales Representative someone I know is employed by the resort.
I believe the "processing fee" of $299 includes transfer and recording fees but I will find out for sure.
I will also try to get the info and post it in the bargain basement. (What are "MF;s"?)
 

CPNY

TUG Member
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Jun 18, 2019
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Resorts Owned
Harborside Resort at Atlantis
SVV - Key West/Bella
WKV
Regal Vista at Massanutten
Thank you for responding to my plea for help. Yes, the person selling me on this new program is working out of my resort; he is affiliated somehow with Marriott and/or II. The paperwork I received does not have his name on it but names as the Resort Sales Representative someone I know is employed by the resort.
I believe the "processing fee" of $299 includes transfer and recording fees but I will find out for sure.
I will also try to get the info and post it in the bargain basement. (What are "MF;s"?)
Soounds like you will be screwed over once again
 
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