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Diamond Resorts Purchasing ILX (2010)

Anyone have any luck DRI timeshare ownership to a new owner?

We are selling our Diamond Resort points to a new owner but can't seem to get any straight answers about the kind of deed necessary -- quitclaim or special warranty deed. The reps on the phone keep tell my quitclaim but then when I do a extensive search online at various county recorders' offices, I can't find any quitclaim deeds involving timeshare, except those to family members or divorced spouses. All other documents show a special warranty deed for these weeks (now points) previously owned by ILX in Sedona, Ariz. Does anyone know of anyone else who has bought or sold DRI points that was previously ILX Premier Vacation Club? I'm just trying to get an example to finish the paperwork correctly so I only have to do this one time!
 
Either one will work. A Quit Claim just limits your liability to the time you owed the property (absence, of course, any fraud on your part).:D
 
Selling 2BR ILX Los Abrigados

I have a one bedroom and a two bedroom at Los Ab. I now use only the one bedroom and would like to know if anyone has run into this situation in selling their (formerly) ILX Premiere Vacation Club ownership. I did not opt in to "The Club" but I have until December 1 to change my mind. After that, I gather, I would have to pay about $3000. If I can find a buyer prior to December 1 and I opt into THE CLUB, will that transfer to the buyer?

I can call and ask but the folks on the phone do not seem to have many answers to these questions. As in none.
 
skimeup said:
I have a one bedroom and a two bedroom at Los Ab. I now use only the one bedroom and would like to know if anyone has run into this situation in selling their (formerly) ILX Premiere Vacation Club ownership. I did not opt in to "The Club" but I have until December 1 to change my mind. After that, I gather, I would have to pay about $3000. If I can find a buyer prior to December 1 and I opt into THE CLUB, will that transfer to the buyer?

I can call and ask but the folks on the phone do not seem to have many answers to these questions. As in none.
Click to expand...

THE Club is a voluntary program that does not transfer with the sale of your timeshare. I believe the lone exception to that rule might be if it's transfered to family but, I am very uncertain if that is true.

You might find that the extra points afforded by the 2 bedroom make it worth keeping. I was to a point where I was in the process of selling my Polo Towers units back to DRI when the economy tanked and their Devbuyback program came to a sudden halt. Since that time we have converted to DRI's THE Club (at a cost to us of $2,995).

Failing to get those two timeshares sold was actually a blessing in disguise. The points program has turned out to be much more flexible and easy to use than just trading weeks. Excess points have been used to either send friends or co-workers on vacations or short weekend trips. Excess points have also been used to offset MF's as they can be converted to MF payments (not a great deal but still a good use of excess points). Plus we still are getting all the vacations out of those two DRI weeks that we were getting before. For us, we continued to get what had become our regular usage out of those timeshares plus gleen a little extra value.

For us, it's taken approx. 3 years to break even on the initial cost. We break even on the extra THE Club dues by making internal exchanges rather than paying the I.I. exchange fee's. We rarely take full week vacations using our DRI points. Most of the time we've used our points for weekend getaways vs full week vacations. It's not that short trips are the best value but, that's just how our recent vacation planing has worked out for us.
 
I have been reading this thread with interest. I am a deeded owner of a 1 bedroom EOY at Los Abrigados since 1999. I never joined any of the ILX "Clubs" (although I may be part of the Sedona Vacation Club in some way) and have just used the week for trades in either II or RCI. I received a notice regarding the DRI takeover but it did not have anything specific to say and have not received any additional information since. My MF for 2011 remained relatively unchanged from 2010 (i.e. I did not see a big increase that some have mentioned here and no mention of club dues in the billing) and I reserved a 2011 week and deposited it as normal.

My question is, should I expect to be hearing more from DRI regarding my Los Abrigados week? I have been able to log on to the regular DRI website and can now see more information than in the past (in January I used the keepingyouinthepicture website to pay the MF but that was all that was available then) but it still doesn't tell me much about my current status with DRI.

After reading this thread it sounds like I may want to keep my "deeded" week instead of putting it into one of the trusts and get DRI points (if and when they ever offer me the option) to avoid faster increasing MF's in a trust, but I am hoping that they will still allow me to continue to trade with II or RCI (since we mostly trade to overseas locations) and it sounds like DRI does not let former ILX owners to buy into a full TheClub membership (which could be of some interest to me due to the overseas locations, but not the limited premier club).

I am not in a rush to figure things out as I will not have another week to use until 2013, but it would be nice to know what to expect as there has been very little information sent to deeded ILX owners who were not part of the PVC to this point it seems (unless I really missed something along the way in the transition). Any insights or tips would be appreciated!
 
Hi - FREE POINTS - I see some post regarding people looking for points. I have +5000 points and own a studio every other year unit with PVC on DRI. We cannot afford the MF or use the timeshare any more. We were considering donate it, however after reading this I will offer it to anyone that wants it and will put it to good use. We do not owe any $$ and all the MF are up to date. Contact me, first one gets it! THANKS!
 
Walk Away???

Hi - Help - From reading the posts I can just quit paying the MF? I don't owe anything. From what I read DRI will just take my points and send me some nasty letters. Will it effect my credit? Can they sue me? Thanks for the help.
 
Spartacus7777 said:
Hi - Help - From reading the posts I can just quit paying the MF? I don't owe anything. From what I read DRI will just take my points and send me some nasty letters. Will it effect my credit? Can they sue me? Thanks for the help.
Click to expand...

If it's a deeded week included in a points overlay reservation system, it may show up on your credit record as a bad debt write off and you could be subject to collection efforts, although I think it would be a stretch that they'd spend the money to lawyer up and take every individual to court over unpaid MF's.

If you own a trust interest I'm not 100% certain. A couple of years ago there was a post at TS4M's that indicated DRI could just cancel a trust interest ownership for unpaid dues, thus eliminating the need to foreclose and giving owners an easy out. I was never clear if there was a collection effort made for back payments or if the membership/trust interest was just terminated.
 
Wow. I now get it. The US collection is worthless. I can rent rooms cheaper. Also saw that the Hilton merger will be taking the Hawaii collection and rebranding it as Hilton and keeping the US as Diamond Resorts.
I’m a financial advisor and was at at a conference and listened to the Hilton call.
This is great for the PVC owners who switched to the Hawaii collection.
I am finally a BIG winner. Turning my crap ILX into diamond Hawaii which I spent $80,000 for and now because I am a Platinum Hawaii owner I will be grandfathered in.
Hilton has a rental and buyback program!!
Anyone else get the certified letter??
 
bradfordHI said:
Wow. I now get it. The US collection is worthless. I can rent rooms cheaper. Also saw that the Hilton merger will be taking the Hawaii collection and rebranding it as Hilton and keeping the US as Diamond Resorts.
I’m a financial advisor and was at at a conference and listened to the Hilton call.
This is great for the PVC owners who switched to the Hawaii collection.
I am finally a BIG winner. Turning my crap ILX into diamond Hawaii which I spent $80,000 for and now because I am a Platinum Hawaii owner I will be grandfathered in.
Hilton has a rental and buyback program!!
Anyone else get the certified letter??
Click to expand...

Has there been some new development? All that has been said is that there were discussions of a possible merger with Diamond buying Hilton. I’ve not read or heard anything more. What call did you sit on?

I own in the US Collection. There are some resorts that are quite nice and that you cannot get into for less than maintenance fees, particularly during peak seasons.
 
csalter2 said:
Has there been some new development? All that has been said is that there were discussions of a possible merger with Diamond buying Hilton. I’ve not read or heard anything more. What call did you sit on?

I own in the US Collection. There are some resorts that are quite nice and that you cannot get into for less than maintenance fees, particularly during peak seasons.
Click to expand...
.

I’m something of a doubter on that post. First that’s an advanced statement when Apollo is only in the posturing phase of an acquisition. Second that post dropped like a thud with no follow up or confirmation of the info.

All I’ve seen is a statement Apollo was exploring the acquisition of HGVC. I’ve seen nothing else solid.

I have seen posts from HGVC owner updates that state the sales reps acknowledge the discussion of a buyout/merger and it’s a low probability. I’d forget their “probability” opinion and concentrate on the fact their have been discussions.
 
dougp26364 said:
.

I’m something of a doubter on that post. First that’s an advanced statement when Apollo is only in the posturing phase of an acquisition. Second that post dropped like a thud with no follow up or confirmation of the info.

All I’ve seen is a statement Apollo was exploring the acquisition of HGVC. I’ve seen nothing else solid.

I have seen posts from HGVC owner updates that state the sales reps acknowledge the discussion of a buyout/merger and it’s a low probability. I’d forget their “probability” opinion and concentrate on the fact their have been discussions.
Click to expand...

I tend to agree with you. I’d be way too fortunate to have access to Marriott, Vistana and Hilton for my vacation leisure.
 
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