Best ways to end your HGVC ownerhip

[prajora]

Let’s say you had HGVC ownership for few years. Enjoyed it and created good memories from vacations. Now it is time to end a contract or want to upgrade/ downgrade your points. What choices you have?
1. Sell your ownership in say TUG marketplace. Be ready to get pennies on the dollar. Don’t even think of price you paid after the TS presentation. Take the loss and move on.

2. What if you stop paying MF? What will happen? Will it affect your credit score?
Thanks

 

[brp]

You may also want to do a search here as this basic question has been asked quite a few times, as one might imagine, and you may find something useful in existing threads.

Cheers.

 

[Talent312]

If you don't want to bother trying to sell it for $$,
there are better options than letting it go to foreclosure:
(1) List it as a giveaway in the Buying, Selling & Renting
sub-forum "Free Timeshare Giveaways & Bargain Deals."
(2) Contact HGVC and offer to do a deed-back in lieu of...
... Both of which will help preserve your credit rating.
.

 

[prajora]

If you don't want to bother trying to sell it for $$,
there are better options than letting it go to foreclosure:
(1) List it as a giveaway in the Buying, Selling & Renting
sub-forum "Free Timeshare Giveaways & Bargain Deals."
(2) Contact HGVC and offer to do a deed-back in lieu of...
... Both of which will help preserve your credit rating.
.

Let’s say I want to get more point per year for similar MF or even slightly higher. I sell or deed back my foolish developer high price buy and buy a low priced HGVC. So in the end I would bury my old mistake and now have a good point HGVC with similar MF.
Any opinion on this strategy? Thx

 

[Tamaradarann]

Let’s say I want to get more point per year for similar MF or even slightly higher. I sell or deed back my foolish developer high price buy and buy a low priced HGVC. So in the end I would bury my old mistake and now have a good point HGVC with similar MF.
Any opinion on this strategy? Thx

Before anyone can give you any specific advice we need some particulars of your situation. What HGVC property did you buy? How much did you pay? How much is your maintenance? Do you want to still vacation at HGVC properties? Do you want to vacation more than you have been at HGVC properties?

 

[prajora]

Before anyone can give you any specific advice we need some particulars of your situation. What HGVC property did you buy? How much did you pay? How much is your maintenance? Do you want to still vacation at HGVC properties? Do you want to vacation more than you have been at HGVC properties?

I don’t feel need to disclose private info in public forum. Unless you can be do a 1:1 consultation.

 

[letsgobobby]

I want to be helpful but i think you have started about twenty threads asking essentially the same 2 questions.

 

[Ralph Sir Edward]

No need to be defensive.

Consider the following:

If you have a mortgage attached to the week, you're basically out-of-luck.

Most timeshares are actually worth pennies on the dollar, as compared to buying from the developer. Right Of First Refusal (ROFR) may prop up the price somewhat - or not. This is reality.

Default can hit your credit rating, it depends on the company. (Whether or not they choose to send the information the the credit rating agencies. This is beyond either one of our controls.)

There is no way to get the developer money back.

Before defaulting, consider giving it away. No chance of credit rating hit, that way.

You can buy and sell HGVC weeks as you please. However, low cost HGVC timeshares go for a premium over higher maintenance timeshares. The difference in MFs are usual amortized in the marketplace for 10 years or so. (10 years worth of saving are factored in the 3rd party offering price.)

Timeshares are a luxury purchase. They aren't for everybody.

 

[bogey21]

I don’t feel need to disclose private info in public forum. Unless you can be do a 1:1 consultation.

Are you kidding?

George

 

[Hobokie]

Are you a moderator of this forum? What permission I need from you to start a thread? Or you self professed guru here.

Oh wow... good luck getting advice with this attitude...

5 experienced TUG members are trying to give you advice and asking normal questions. No one is asking your name, contract number etc. If you spend any time on this forum at all and search for this question (has been asked thousands of times) you will see similar questions asked of the post creator. We are just trying to help... but alas...

If you’re good with just general info then here goes... like @Talent312 said, try to give it away here. Try to give it back (feedback) to HGVC. If you stop paying you may or may not get reported based on others’ experience and as reported on this forum (dig around and you will see).

 

[CalGalTraveler]

I understand your concern about privacy. You posted your questions on a public forum asking for help. It is difficult if not impossible to give you good advice if you are not providing specifics of what you own and how you want to move forward with your timesharing. No names or specific dates needed.

The developer purchase is sunk cost. You will never get that back but you could improve your ongoing cost of ownership if the economics are right. There are vary narrow situations where this would work. You would have to own a property with a very high MF cost per point to make this work.

In general, assuming you want to continue to use HGVC club points and you don't have an outstanding mortgage and could give away/sell/deedback the property. Compare your annual MF divided by points to get your MF cost per point. Then compare against other HGVC properties for 2021 table in the sticky on the HGVC forum.

Take note of the difference in price per point. If less, then multiply that savings by the number of future points.

Find resales of desired low MF/point property. Take the total cost including disposal fees of old property + total cost of new and then divide the total by the cost savings per year. This will give you the number of years to breakeven. Generally if breakeven is more than 5 - 7 years, it is probably worth keeping your current property unless you have certainty that you would use the property for 20 years or more.

Good luck.

 

[TUGBrian]

asking for help, then biting the hands that are making an effort to do so is a very poor strategy.

 

[GTLINZ]

If you read thru posts in this HGVC forum you will find a lot of what YOU call "private" information here. The amount of information given has a direct correlation on the quality of advice that can be given - which you yourself requested. This forum has helped many and most are not concerned about disclosing how much they paid.

If you are genuinely seeking the advice of other HGVC owners you will need to disclose what season and what property - which translates to points - and also lets anyone know approximately how expensive the MF (maint fee) is. And "how much you still owe" may be more relevant that how much you paid.

People in this forum will usually try to help (you will find an occasional spammer or jerk). Good luck.

 

[1Kflyerguy]

Similar to CalGalTraveler, i consider my developer purchases a sunk cost. I decided to not bother with trying to dispose of those, i just keep using the points. Any subsequent lower cost purchase would "average down" my cost per point.

Others my have a different option, but that was the right choice for me.

 

[prajora]

There is no loan on my HGVC. I did make mistake of buying at developer price and nt looking to recover my cost. All I am looking is for similar MF, maximize my points. So regardless of buying price, have contracts with good points for low MF. I am not defensive and am open to discuss the concept with any respectful participant who keeps the discussion friendly. I have no way to search what other threads have some nuggets of same discussion. Moderator can control that better

 

[CalGalTraveler]

I concur with @1Kflyerguy I also have a developer purchase but have brought down the average cost by adding resale to lower our overall MF/point cost. It is in NYC so has some additional benefits such as priority reservations for upgraded units, all you can eat reservations and lounge privileges which helps to defray ongoing costs; it doesn't come near offsetting the sunk cost but helps provide some ROI. Our resale has value and can be sold but even if we eventually give it away, we didn't spend much in the first place so the benefits have amortized over the cost of the ownership.

You can't lose what you never spent. Resale puts a low cap on your capital loss risk.

 

[AndySamuels]

Really a function of your desire / capability regarding # of days to travel, location, what season. From there you can figure out what will or will not work for you.

Impact on credit rating | foreclosure is a legal matter that depends on the state of residence and/or the resort / contract in question.

Consult an attorney would be my recommendation in case you are considering defaulting on MFs.

Personally hotel rooms and/or renting timeshares are a great alternative to the complexities and perpetual cost of TS ownership.

 

[frank808]

I don’t feel need to disclose private info in public forum. Unless you can be do a 1:1 consultation.

You want financial advice from people you do not know from a "public" forum? Our advice can not be worth much if you are not willing to even spend the small amount to become a member of this public forum. Now there is also the saying is the advice is as good as you pay for it. Then finally being so "defensive" at those that are trying to help you in your post asking for advice

I have found it does not work being snarky and defensive when asking for a favor. But this is just free advice.

 

[Magus]

I don’t feel need to disclose private info in public forum. Unless you can be do a 1:1 consultation.

nothing anyone has asked is personally identifiable whatsoever. Without knowing what you currently own we can’t tell you the best exit strategy. Without knowing what you are looking for point wise or a budget at least it makes it hard to provide a suggested resale purchase. In generally, I think trading/selling/deeding back and buying a higher point lower MF one is a good trade but it depends on what you want to do with your hgv account and whether you want to use home week typically or club bookings.

 

[GT75]

I have no way to search what other threads have some nuggets of same discussion. Moderator can control that better

There is a robust search feature that is part of this BB which is very effective. I certainly don't understand what you are asking us moderators to control. I agree with the advice from our knowledgeable HGVC Tug members already given to you. We certainly can not offer specific advice if you don't provide us specific information. In a previous threat which you started, you asked us to share all of our portfolios with you - link.

 

[prajora]

There is a robust search feature that is part of this BB which is very effective. I certainly don't understand what you are asking us moderators to control. I agree with the advice from our knowledgeable HGVC Tug members already given to you. We certainly can not offer specific advice if you don't provide us specific information. In a previous threat which you started, you asked us to share all of our portfolios with you - link.

For the rec

You want financial advice from people you do not know from a "public" forum? Our advice can not be worth much if you are not willing to even spend the small amount to become a member of this public forum. Now there is also the saying is the advice is as good as you pay for it. Then finally being so "defensive" at those that are trying to help you in your post asking for advice

I have found it does not work being snarky and defensive when asking for a favor. But this is just free advice.
[/QUOT
For the record, I am a PAiD TUG member.
It is beneath me to comment on orher aspects of such post. I have better things to do in my life than that.Let’s end this right here

 

[brp]

Well, in case you care- your profile says "Guest," so even though paid, it has not been reflected. Again, in case you happen to care.

Cheers.

 

[alwysonvac]

I pointed that out to the OP several weeks ago.

 

[magmue]

Glad to hear you are a dues-paying TUG member. There is a switchover process you have to do so that your account switches over - I think it is explained in the email with payment confirmation.

But still. The moderators - and the rest of the experts here - are unpaid volunteers, who donate hours of their time to folks like you and me. some questions are asked over and over by different people. And sometimes by the same people. I always try to do my own homework by reading the many excellent TUG resources, looking outside TUG, and by searching the forums, before asking for advice. I build my own knowledge base at the same time, and can pass it along to someone else later.

ETA: @panjora, registering your TUG membership also benefits you by opening up the Sightings forum and the Resort reviews.

 

[prajora]

I

Glad to hear you are a dues-paying TUG member. There is a switchover process you have to do so that your account switches over - I think it is explained in the email with payment confirmation.

But still. The moderators - and the rest of the experts here - are unpaid volunteers, who donate hours of their time to folks like you and me. some questions are asked over and over by different people. And sometimes by the same people. I always try to do my own homework by reading the many excellent TUG resources, looking outside TUG, and by searching the forums, before asking for advice. I build my own knowledge base at the same time, and can pass it along to someone else later.

ETA: @panjora, registering your TUG membership also benefits you by opening up the Sightings forum and the Resort reviews.

i do like such respectful and informative posts. You are right we all need to use TUG to build our knowledge base. But to restrict people to create new threads is also not great. The way to get more TUG value is to encourage members to participate. If you keep pointing out this was posted before, we should pretty much stop all new threads. I am sure almost all questions related to TS have been asked in one form or the other. So let there be a respectul discussions between members even at cost of some repetition. Again it is just IMHO