Apple Mountain HICV Foreclosure Question

[xaipe]

Hello! I posted this in the general thread but they said this would be a good place to ask specifically about this resort.

I am very new to timeshares. I live near Apple Mountain HICV https://www.ihg.com/holidayinnclubvacations/hotels/us/en/clarkesville/toccv/hoteldetail#. Every once in a while the local paper lists a slew (I think the last I saw had about 30) foreclosures that they say will be sold at the local courthouse. I am interested if pursuing one of these is a good idea. A few questions. One of the reasons I am thinking of buying locally is I have five children and believe my family can use the pool there year round, but I need to confirm.

Things I know I would need to do:
1. Tour the resort and find the unit I want.
2. Only purchase the right week for my schedule.
3. See how many years are left on the contract. I am not sure if there is a sunset here like 30 years or something.

Questions:

1. General thoughts on buying foreclosures to entering into the timeshare world? Do they actually auction these at the courthouse?
2. Any advice on what I should be aware of?
3. Is HICV a good system?

Thanks!

 

[Rdub79]

I can’t speak to buying a foreclosure but I can answer some of the other questions or concerns you have. I don’t believe you would have access to day use of the facilities if you were not there on a reservation but you should call the resort and ask. If you were successful in buying one of the foreclosed deeds you would own that week in perpetuity with no sunset clause. If you ever wanted to get rid of it you have to pay HICV to take it back or try and sell it or give it away for free to someone else. You would also only be able to stay at that resort. You would not be able to convert that week into points to use at other HICV resorts. There are ways to get points that you can use elsewhere but buying apple mountain on the resale market won’t do it. HICV is a pretty good system. The keep up their properties well and they have a lot of locations and are always adding more.

 

[xaipe]

Thank you Rdub79, that is helpful. I can see why people are letting these go into foreclosure in large numbers. Being locked into one resort is quite limiting. It is good to know that converting into HICV is not an option if I were to buy a foreclosed deed. Thanks!