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Buying a Hilton resale from my Uncle (need advice)

Rtsunset

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My Uncle wants to sell me his Hilton Platinum 2B for what he paid $14,000. they are currently going for $30,000 in the same Orlando Hilton Resort.

I am very new to time-sharing. I am told by my Uncle that I can go anytime to any place because of the high status. Now, Hilton says I do loose a few benefits and they can refuse the offer.

What am I going to loose if I buy through my Uncle and not the developer? From what I understand, I get 7,000 points for this unit. Will I still get that if I buy my Uncles unit? Can I still go anyplace at anytime? Will Hilton honor me as the new title holder?

The other idea I had was, can my Uncle just gift me his deed? (I still wold pay him the money, just not on paper) Is this possible?

Thanks

Randy
 

Bill4728

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First, The HGVC at seaworld is a great resort and a great place to own.

Second, as a resale buyer the only benifit you don't qualify for is the chance to be "Elite" ( which you get when you buy 14,000 pts direct from HGVC)

So there is no reason not to buy from your uncle. (Current resale prices at that resort are about $12K - $14k for his 7000pt unit. So buying from him at $14K isn't much of a deal. )

The other idea I had was, can my Uncle just gift me his deed? (I still wold pay him the money, just not on paper) Is this possible?
Yes, that is possible.

But there maybe another idea. You could become his co-owner. By doing this you may receive all the benifits your uncle does. Then in a year or 2 buy him out and you'd maybe still be considered the orginal owner.

Good Luck
 
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Rtsunset

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Thanks Bill. I spoke with the Hilton Corp office about this issue. They of course recommend I buy with them not my Uncle. Anyway, they said that if I buy and everything is approved, I would then still have to:

Join the club
Would not be eligible for elite status (still trying to figure out what this is)
Something about - a la carte?
No upgrades
and possible issues if I ever died and passing it to my kids.

I guess I would still get my 7,000 points each year and my uncle is platinum status so I would be covered for the Category 6's.

I just think that saving money now would be much better - but Hilton of course is scaring me with all this information and "things I will never get".

I just want to know - what will I get with my Uncles unit and will I still be able to travel anywhere, at anytime even with RCI?
 

Bill4728

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Randy,

Sorry about HGVC, but most of what they said isn't true. You'd be buying your uncles deeded week at HGVC seaworld. It is a 2bd platinum week worth 7000. (right?) Nothing HGVC can say or do about that. ALL owners of any deeded week at any HGVC location (not HGVC affiliate) is in the Hilton Grand Vacation Club. So you join the club, you just need to buy your uncles week. As a member of HGVC, you can
1. Use your week and reserve it 12 month ahead
2. Use the points from your week to book at any of the HGVC resorts at 9 month ahead
3. Convert your TS points to Hotel points and stay at Hilton hotels around the world
4. Deposit your points into RCI and trade to any RCI location in the world ( if available)

I guess I would still get my 7,000 points each year and my uncle is platinum status so I would be covered for the Category 6's.
I'm not sure what you mean by Category 6?
 
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gshipley

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I bought a resale unit (7000 points plat) two years ago and paid 14k for it. I went through the same process as you are going through now and even created a tug post about it. You might to search for it (I think its called a noob buys a resale).

For some reason, it seems the Hilton reps are not telling you the truth. They did the same thing to me. Don't listen to them. There is NO REASON that you should buy from developer and you will not be missing out of anything other than Elite. It really angers me that they lied to you as I thought it was a one off incident with me. We, as owners, should band together and file a former complaint as they are giving our timeshares a bad reputation which could hurt us when we decide to sell. Maybe Seth Nock will take up the cause and express our disgust to Hilton.

Elite is for people who have purchased 14,000 points from the developer and they get a few special perks that most people think are not worth much if anything. Ie, you can reserve a few resorts at 12 months out.


--
gshipley
 

Jya-Ning

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Not HGVC owner, I have a question, if transfer between family member, is Elite status still get hold? I believe if I own any developer perk, if I die, that will transfer to anybody even if they are not family member. And if I did not die, but want to give it to my kids, they will enjoy these perks.

Then if that is true, my 2nd question is, is uncle counted as family member? It probably not, because it is out of arm distance or whatever the proper term should be. But on the other hand, he is kind of family.

So if yes, then you need to make sure the elite get transfered to you. Even if you did pay your uncle for that week.

Jya-Ning
 

Bill4728

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Not HGVC owner, I have a question, if transfer between family member, is Elite status still get hold? I believe if I own any developer perk, if I die, that will transfer to anybody even if they are not family member. And if I did not die, but want to give it to my kids, they will enjoy these perks.

Then if that is true, my 2nd question is, is uncle counted as family member? It probably not, because it is out of arm distance or whatever the proper term should be. But on the other hand, he is kind of family.

So if yes, then you need to make sure the elite get transfered to you. Even if you did pay your uncle for that week.

Jya-Ning

That is way I suggested instead of buying it outright from the uncle now, he becomes a co owner, get grandfathered in as an original owner and only then buy it from the uncle.

It would be wrong of me to suggest that you just tell HGVC that he is your dad (or FIL if last name is different) and get the TS transfered with all rights of the original owner.

Good Luck
 

Rtsunset

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Doing more research and finally getting an honest person at HGVC - I was told the best thing to do when buying a resale is get a quick claim deed and pay the seller directly. I can even use a local title company. I will get all points and even bonus points on the mortgage I purchase.

Reviewing this board - and checking out the sale prices I actually see I can do better buying form one of you guys. My Uncle owes too much money on the loan and it's not worth me taking over his payments when I can buy outright at a lower price on this site.

Thanks for everyone's help.
 

Bill4728

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Randy,

If you're buying from your uncle, I would not worry to much about a Quit claim deed. BUT, if buying from someone else, you need to do a full closing with a warrenty deed. There are several good TS closing companies which are discussed here on TUG. They generally run around $250.

Good Luck
 
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