Does anyone have a recent HGVC Estoppel?

[brial05]

Does anyone have a recent estoppel that HGVC generated?

I have a copy of mine from when I purchased my resale:
a.) It is very old
b.) Most importantly, it was never generated by HGVC or the Developer.

The version I have is from when I purchased my resale. It is a very generic WordPad document that I am sure was a 'fill in the blank' style sheet.

My reason for asking is I am shopping on eBay which has been very interesting, I let an Elara 11,200 bid go by because I simply did not trust the information the seller was reporting back to me, including 'his version' of an estoppel.

 

[HuskerATL]

Here is ours when we gave away our Tuscany Village in 2023

 

[brial05]

@HuskerATL thank you!

Interestingly, the eBay seller version was similar but only consisted of the table. Only the 2024 column was filled out with MF totals, which did not make sense to me.

Here it is ..... Was to be an Elara 11,200 Point Annual.

 

[HuskerATL]

you need the whole sheet to see the interval info and the point balance. HGVC verifies the point balance so you see that in the bottom section. That is very important...same as the interval info.

 

[GT75]

Agree with @HuskerATL. I would especially want to see the available points per year section for Elara (because Elara is a mixed TS property with both Westgate and HGVC sharing that building). I certainly wouldn't want a Westgate Elara deed.

Also a bigger flag (IMO) is that the MFs aren't correct:

2024 Hilton Grand Vacations Maintenance Fees

Plantation Beach Club at IRP 2 BR Gold Flex Week (could be 8000 pts depending upon week reserved but I bought week to use) 2024 Operating Fee - 1,463.92 2024 Reserve Fee - 247.48 2024 Real EstateTaxes - 58.03 Total:$1,769.43 Last year total:1,535.58 Moderator added: Increase of $233.85 (15.23%)

tugbbs.com

Elara 2BD platinum 13,440 points.

2024 Operating Fee: $996.82
2024 Real Estate Taxes: $68.41
2024 Reserve Fee: $243.85

Total: $1309.08

 

[HuskerATL]

Agree with @HuskerATL. I would especially want to see the available points per year section for Elara (because Elara is a mixed TS property with both Westgate and HGVC sharing that building). I certainly wouldn't want a Westgate Elara deed.

That is a good point .. Very important to have the interval info. They could be trying to trick you into a Westgate deed.

 

[GT75]

Also, what season is this? Gold Season 2BR?

 

[IrishDave]

Heres's ours from Sept of this year, minus the resort address and previous owner info. I agree the interval info and point balance are critical and I would pass if I couldn't see those. Not having a prior year balance kinda makes sense to me, if everything from last year was paid.

 

[rangnatp]

Are the reserve fees not required to be posted on the Estoppel? How are they generated, and how are owners notified? Looking at a resale on Ebay and the seller has never heard of reserve fees before. Makes me curious...

 

[GT75]

Are the reserve fees not required to be posted on the Estoppel?

The MFs are OF and RF added together. HGVC normally also adds the Voluntary ARDA Fee to that total, so only the RE Taxes are broken out separately.

 

[HuskerATL]

Are the reserve fees not required to be posted on the Estoppel? How are they generated, and how are owners notified? Looking at a resale on Ebay and the seller has never heard of reserve fees before. Makes me curious...

Like @GT75 said, they are part of your MF bill. Combined the in estoppel but broken out in the annual MF bill. If the seller looks at their MF bill, they will see it

 

[brial05]

I appreciate this whole thread and everyone's input as I venture into eBay resales.

I have received the full document now, to be sure, I passed on this unit, it sold for $510 dollars.

I am still confused about how the MFs are being reported:

 

[HuskerATL]

Probably a good choice, Elara isn't hard to book and then MF/pt is 0.15 so higher than I would want.

 

[GT75]

Interesting, so it was a 1BR and Studio on the same deed. So the MFs should be 1BR + Studio:

Elara 1BD Grand Platinum 11,200 points.

2024 Operating Fee $765.61
2024 Reserve Fee $172.54
2024 Real Estate Tax $41.22

Total Fee $979.37

That’s a $35.36 (3.75%) increase over last year’s MF’s ($944.01).

Elara Studio/Plus Platinum 3520/5600 points.

2024 Operating Fee $593.13
2024 Reserve Fee $119.35
2024 Real Estate Tax $20.93

Total Fee $733.41

That’s a $31.17 (4.44%) increase over last year’s MF’s ($702.24).


2024 Operating Fee and Reserve Fee: $1650.63
2024 RE Taxes: $62.15

The $7 difference is because HGVC on the estoppel will add the Voluntary ARDA Fee.


Since this is actually two units, there will be two $695+ (probably more in 2025) activation fees.

 

[Chris-ATX]

Interesting, so it was a 1BR and Studio on the same deed. So the MFs should be 1BR + Studio:

Since this is actually two units, there will be two $695+ (probably more in 2025) activation fees.

I was just typing this when I saw @GT75 reply come through. And really astute observation about the 2x activation charges, 1 for each interval.

 

[GT75]

And really astute observation about the 2x activation charges, 1 for each interval.

It certainly would have been a hard pass for me even w/o the two units on one deed. This is a couple of ebay "for sales" with more than one unit on the same deed. I would continue to keep looking at the listed MFs. I think that we on TUG have some pretty accurate data on HGVC MFs.

 

[brial05]

@GT75

Thank you for sharing your knowledge; I would have never caught this; I was so hung up on the MFs not matching what I 'thought' I knew about the Elara point totals in the Platinum column.

I'm looking for Vegas with the best point/MF ratios. I originally believed there was only a single unit in the BDR Grand at 11,200 points.

I never imagined that there would be two units with the same point total. ....... I still have so much to learn!

 

[SmithOp]

That estoppel is odd because it only shows the 1 bedroom points allocation, yet the fees and description include a studio. Where did the studio points go?

Good decision to pass on any eBay deal where the numbers don't add up, too many of these ads just copy and paste to perpetuate bad information.

 

[1Kflyerguy]

That estoppel is odd because it only shows the 1 bedroom points allocation, yet the fees and description include a studio. Where did the studio points go?

Good decision to pass on any eBay deal where the numbers don't add up, too many of these ads just copy and paste to perpetuate bad information.

I was wondering the same thing. Almost as if the studio is Westgate and the 1 bedroom is HGVC, but then I would not think they could be on the same deed.

Always best to steer clear of odd stuff on eBay.

 

[brial05]

@1Kflyerguy , @SmithOp look at GT75's post above, he was the one who sharp enough to decipher this line ....

Which in english means:

One Count of a Single 1 Bedroom = 7680 Points
AND
One Count of a Single Studio = 3520 Points

11,200 Points via TWO Deeds.

So the eBay Seller and the provided Estoppel were spot on.

I will say the seller never mentioned the unitS one way or another ... slick.

I would have been so upset had I purchased 'thinking' that the seller had the MFs simply listed wrong.