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BlueGreean Timeshare resale value. Is it worth it?

vacaworm311

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I have only recently been interested in possible getting a used time share for my family. I had a co-worker who gifted me a weeks stay at her time share., We had a good time and it seemed interesting to me to pay the yearly fee and get points to stay any where. I have already done days of searching and finally found this website.
My co-worker is a very nice older person, she has had her timeshare for over ten years and wants to get out of it. After reading around I think she maybe asking to much. She has 20k point and wants $10,000. She says she's deeded to a property but I'm not sure which one or how that work with the points. I'm am correct in thinking it's probably worth about $500? I'm not sure she'll go that low but how would I start the process of purchasing? Thanks for any advice.
 

rapmarks

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She is way off. It will cost 500 in fees to transfer and bluegreen may exercise right of first refusal and take it. Plus as resale you don’t get bonus time and other privileges
 

dioxide45

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You are probably best to just say you aren't interested instead of countering with $500. I suspect she may be offended making future interactions somewhat awkward.
 
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She is way off. It will cost 500 in fees to transfer and bluegreen may exercise right of first refusal and take it. Plus as resale you don’t get bonus time and other privileges

Not entirely correct. You do get bonus time with resale at the location listed on your deed.


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rapmarks

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Not entirely correct. You do get bonus time with resale at the location listed on your deed.


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Correct and the buyer doesn’t even know where that is
 

rapmarks

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You are probably best to just say you aren't interested instead of countering with $500. I suspect she may be offended making future interactions somewhat awkward.
You are correct. The seller is still in the discovery process, doesn’t realize the value of a resale
 

vacaworm311

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Wow! Thanks for the great and quick advice. I will try to find a nice way to tell her. I'm many of my talking she admits she really doesn't know the value. Maybe we can work something out. If not I already paid the $15 to sign up for this site and see there is lots out there. This seem like an awesome place for people who love to travel!
 
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Wow! Thanks for the great and quick advice. I will try to find a nice way to tell her. I'm many of my talking she admits she really doesn't know the value. Maybe we can work something out. If not I already paid the $15 to sign up for this site and see there is lots out there. This seem like an awesome place for people who love to travel!

I’m not sure how tech savvy she is but show her some sold prices on eBay. That should provide better perspective.


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Thanks. Does ebay work though? From what I'm reading, if you don't offer .10 a point, bluegreen just buys it from the owner anyhow. Is that right?
 

vacaworm311

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Also, I think she is deeded to Bluegreen Shore Crest Vacation Villas I and II in June. Does that make a difference in the resale value?
 
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Thanks. Does ebay work though? From what I'm reading, if you don't offer .10 a point, bluegreen just buys it from the owner anyhow. Is that right?

eBay hasn’t worked for me but the only sure way to get around of ROFR (right of first refusal) is to buy through Bluegreen, buy/sell to a relative or buy off of Pinnacle, BG preferred online reseller. From what I heard, BG has been buying almost everything back from eBay sales since late 2020.


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rapmarks

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There are lots of Bluegreen groups on Facebook
 

vacaworm311

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After doing some more research and having a talk with them, I think we may be able to do a deal. They have a deed property I really want at a perfect date and I think I was able to lower their expectations of what a reasonable cost would be. What would be the next step if we come to an agreement? Can any licensed real estate agent do it? I assume there are people who specialize in this. Any recommendations?
 

rapmarks

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After doing some more research and having a talk with them, I think we may be able to do a deal. They have a deed property I really want at a perfect date and I think I was able to lower their expectations of what a reasonable cost would be. What would be the next step if we come to an agreement? Can any licensed real estate agent do it? I assume there are people who specialize in this. Any recommendations?
Bluegreen can do it for you, or lt transfers and then pay the required fee to Bluegreen. Bluegreen charges $500 last I heard, but it has right of first refusal
 

vacaworm311

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Thanks for the quick reply. I mentioned the ROFR to them and they seem to feel that's not in there contract. They said they got it 18 years ago. Is it possible?
 

theo

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I mentioned the ROFR to them and they seem to feel that's not in there contract. They said they got it 18 years ago. Is it possible?

I am not all that familiar with BlueGreen, but I will nonetheless note with considerable conviction that ROFR does not need to be overtly reflected within her individual contract in order for that ROFR to exist --- alive and well --- somewhere within BG's applicable underlying / governing documents. The fact that she may not recall seeing any specific reference to ROFR within her own individual contract means little or nothing.

Whether ROFR exists in BG, I do not personally claim to know, but if it does exist it certainly need not be overtly reflected in the print content of her individual contract.
 
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TheTimeTraveler

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After doing some more research and having a talk with them, I think we may be able to do a deal. They have a deed property I really want at a perfect date and I think I was able to lower their expectations of what a reasonable cost would be. What would be the next step if we come to an agreement? Can any licensed real estate agent do it? I assume there are people who specialize in this. Any recommendations?



LT Transfers is highly recommended here on TUG. Check out their website below and let them handle it for you.



www.LTTransfers.com






.
 

The Colorado Kid

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Winner Winner for her even if ROFR is exercised as to my understanding she will be rid of the timeshare.
 

rapmarks

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Winner Winner for her even if ROFR is exercised as to my understanding she will be rid of the timeshare.
There is some trap in this, I believe they reimburse the buyers closing cost but will not reimburse the seller if roar is applied. Need to go on Facebook group to get best answers
 

fredmotola

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After doing some more research and having a talk with them, I think we may be able to do a deal. They have a deed property I really want at a perfect date and I think I was able to lower their expectations of what a reasonable cost would be. What would be the next step if we come to an agreement? Can any licensed real estate agent do it? I assume there are people who specialize in this. Any recommendations?

No need for an agent as this is not a property transfer, just a transfer of beneficial onwership. BG has a Wufoo link that will start the transfer. The transfer fee has to be paid as part of the submission. Best to make a clear sales contract declaring who pays what, when and submit that. If BG applies their ROFR, they will take the place of the buyer and pay what the buyer pays. But BG will not pay any non-monetary items even if it is listed in the sales contract. So no trading of uncle Bob's prized pot belly pig for a prime deed. And if you state the buyer is paying the transfer fee and use a credit card that is not tied to the buyer (i.e. the seller fills out the form and pays the fee) then BG will not refund the non-refundable transfer fee. Its is always best to fold all fees into the sales price and have the seller fund the transfer. So if the seller is paying upcoming maintenance fees to ensure the transaction proceeds, then add that to the sales price to seller gets reimbursed. Make it part of the sales price and don't explain anything else. BG, upon ROFR, will then pay the Seller the sales price and the buyer will then go hunting for another deed.

Here is the Wufoo link - https://bluegreentransfers.wufoo.com/forms/bluegreen-vacations-title-transfer-request/
you can walk through form with bogus info to get a feel for what is asked.
 

fredmotola

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Also, I think she is deeded to Bluegreen Shore Crest Vacation Villas I and II in June. Does that make a difference in the resale value?
ShoreCrest II - No, these are Marshviews and easily reservable at 11 months out.
ShoreCrest I - Summer weeks - Yes, these can be harder to reserve, even at 11 months out. They also get more on eBay, maybe 5 to 15 cents a point.

The unit on the deed will start with a 1 for the oceanviews. Marshviews in ShoreCrest II will start with a 2.

PS - BG understands the value of these as well. Passing ROFR will be tough with a low offer. Up to you to decide if extra cost (vs buying a run of the mill deed and not paying a premium) is worth the deed. Keep in mind that with BG it is either use the week on the deed or use the points allocated to the deed and not both. A SCI 2BR summer week is about 15000 points, Around $1500 in 2022 MF and club due costs. Ask yourself if you can rent a week 2BR for more or less or same. If you are already an owner, the incremental increase in MF is about $1000, so a slightly different scenario.
 

fredmotola

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I am not all that familiar with BlueGreen, but I will nonetheless note with considerable conviction that ROFR does not need to be overtly reflected within her individual contract in order for that ROFR to exist --- alive and well --- somewhere within BG's applicable underlying / governing documents. The fact that she may not recall seeing any specific reference to ROFR within her own individual contract means little or nothing.

Whether ROFR exists in BG, I do not personally claim to know, but if it does exist it certainly need not be overtly reflected in the print content of her individual contract.

ROFR is in BG's Public Offereing Statement, which is part of her contract when she bought. Sec 9.D.1 and BG has 60 days to decide on ROFR.
ROFR exists on every resale and most recently even exists on Pinnacle resales, which used to be ROFR bullet proof and worth the extra cost if you wanted that sweet deed.
 

vacaworm311

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Update: I made an offer to the seller. All I'll say for now is it was more than $500 but less than $10,000. I think it was a fair offer for both. Its over .2 cents per point so let's hope it doesn't get ROFR(if the seller accepts). Thanks to everyone here for the great help and guidance.
 

TUGBrian

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glad both parties were happy with the deal!
 
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