Buying a Fixed Week HICV Resale question

[rabbit6]

Hello! My wife and I are looking to buy our first ever timeshare and I have some questions.

My understanding is that HICV is a “points only” system, which is not what we are interested in. We are looking for the old school deeded, fixed week, same place and time every year.

On redweek, even though HICV is points only, there are still fixed weeks available for purchase at the resort we want (Marco Island, FL) that seem more like the old school version of time sharing.

I am wondering if this is legitimate? How could a seller be selling a deeded fixed week when HICV is points only? If I contacted HICV directly, would I be able to buy a fixed week directly from them?

Thanks

 

[tony_i]

Hello!

Not all of hicv is points. There are a lot of fixed and float week properties. If you purchased developer points, prior to trust points system, those points were associated to a fixed or float unit and once you sold it to someone else, as a penalty to the buyer, that week would no longer qualify for their points system.

So buying a Marco Island unit should be a fixed week as it would loose access to the points system, if it had points associated.

Some owner never convert to the points system too.

You can also ask the seller for a estoppel letter and that will confirm what you are actually acquiring, it will have the week, size, unit, any balance owned.

Also, keep in mind that even if you purchased a deeded week that automatically qualifies for the points system (Myrtle Beach, Gatlinburg), you can always book your deeded week and unit during Home Access (13 month - 36 month) or have the option to book any other date and unit for 7 nights during Resort access (11 month out to 13 month).

So you should be good to purchase that week and can even convert it to points in the future, and never loose access to the deeded week/unit as long as it is yours.

Best of luck!


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[tschwa2]

While HICV is selling points only, and at this point trust points only, there are owners who bought prior to HICV change in 2019 to sell trust points only. They own deeds that may or may not be converted for their use within HICV. Deeded owners who sell are selling their deeds. Whether they are currently in points or not really doesn't matter as all deeded HICV contracts will convert back to a non pointed fixed or float week (depending on how they were originally sold) with the exception of Myrtle Beach, Gatlinburg and Lake Geneva Wisconsin. Those 3 deeded locations will remain eligible to use as points.

So no you can't buy fixed weeks directly from HICV at this point. All of the units that they take back, they deposit into their Florida Land trust and then sell beneficial interests in the trusts. Those as resale remain points but have a lot of additional restrictions that apply to resale owners to the point of making them pretty much worthless.

 

[tony_i]

Btw, you can also read the bylaws of the specific property as it will detail if there are any internal exchange system, any split week option, or any other available booking option.

If you join the fb hicv group (not affiliated), probably under files, you can get the website, user name, and password to review the documents associated with the property to review any other booking options.


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