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Equity Value Agreement (Vidanta)

Alvin Olson

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Hilton Grand Vacation Club - Ocean 22 Myrtle Beach
Vidanta Celebrate Park Nuevo Vallarta
TimeshareResalMarket wants me to choose an option on selling my points from Hilton.

Option 1: $ 1879.00 and were done.

Option 2: $ 8999.00 and they sell and give me all profits.

This is on a trade Equity Value Agreement from Vidanta.

Vidanta lowered the price of their package by $ 1879.00 to compensate for this fee.

According to TRM, they want me to give them 9K and then I will keep any profit they make, sounds like a scam to me.
 

Alvin Olson

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Vidanta Celebrate Park Nuevo Vallarta
I dont think that is an option honestly. We have signed an agreement with Vidanta to use TimeShareResale to have them buy my HGV Points.
They gave me Equity Credits for the transfer and gave me credit for the transfer fee, but now TRM says I have a 2nd option to make more money.
 

bogey21

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Sounds like you bought something and the Seller agreed to buy your HGV Points. Maybe the thing to do is try to extricate yourself from the purchase...

George
 
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Alvin Olson

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Vidanta Celebrate Park Nuevo Vallarta
Thank you George. Yes, we purchased a package with Vidanta, and are happy with what we bought. At least for now.
I wasnt expecting an option from TimeShareResale to let me pay a bit more in order to collect the profit from what I paid vs what it gets sold for.
I think think that is too risky, but I have never done a timeshare before so I am ignorant.
 

bogey21

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The universal opinion from those posting on TUG is never pay a front end fee to anyone to sell a Week. End of story...

Good luck...

George
 

VacationForever

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Based on the experience of other TUGgers, regardless of the options that you pick and PAY, there is a high chance that you will continue to own your HGV points and your sparkling new Vidanta. Bye bye money. Good luck.
 
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RX8

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Once they have your $8999 upfront what incentive do they have to sell your HGVC for more than a penny? Absolutely none. Depending on what you own it may not even be worth $9000 on the resale market. While maybe not a scam they are taking you to the cleaners for $9K and you won’t see a dime from them. As Bogey21 said, your best bet is to rescind this whole purchase altogether unless you don’t mind paying a 1000% + premium for your timeshare.
 

tschwa2

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TRM is going to sell it to another company bulk who will put the timeshare up for $1 on ebay. If they sell it for $1 great. If it makes more great. If it doesn't sell you will be stuck with it. Seeing that it is HGVC it will probably sell and no longer your responsibility. You probably could have sold it or given it away yourself and still negotiated the same price but that ship has sailed.
 

TUGBrian

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absolutely reads like a scam...
 

chapjim

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TimeshareResalMarket wants me to choose an option on selling my points from Hilton.

Option 1: $ 1879.00 and were done.

Option 2: $ 8999.00 and they sell and give me all profits.

This is on a trade Equity Value Agreement from Vidanta.

Vidanta lowered the price of their package by $ 1879.00 to compensate for this fee.

According to TRM, they want me to give them 9K and then I will keep any profit they make, sounds like a scam to me.

Heckuva deal! What could go wrong?
 

Alvin Olson

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Vidanta Celebrate Park Nuevo Vallarta
so.. I wonder what would happen if I just ignored this TimeShareResale folks? I have not given them a dime yet, but I have given a large deposit to Vidanta. I assume I will end up with 2 timeshares but I guess that is better than giving them money and still have 2 timeshares.
 

VacationForever

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If you can rescind the Vidanta purchase, you should rescind. Take a deep breath, let your head cool off and see what is out there in the resale market.
 

VacationForever

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so.. I wonder what would happen if I just ignored this TimeShareResale folks? I have not given them a dime yet, but I have given a large deposit to Vidanta. I assume I will end up with 2 timeshares but I guess that is better than giving them money and still have 2 timeshares.
Yes.
 

Alvin Olson

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Vidanta Celebrate Park Nuevo Vallarta
If you can rescind the Vidanta purchase, you should rescind. Take a deep breath, let your head cool off and see what is out there in the resale market.

I had a 5 day period, but that was 2 weeks ago. I am happy with, I think, the location we chose, although after reading all of the negative about Vidanta sales techniques, I am not sure I want to do business with them. I for sure dont want to have 2 time shares.
 

T-Dot-Traveller

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TimeshareResalMarket wants me to choose an option on selling my points from Hilton.

Option 1: $ 1879.00 and were done.

Option 2: $ 8999.00 and they sell and give me all profits.

me.

option 3 : - you keep the Hilton / either to use OR give away ( see TUG bargain sub forum )

FORGET Option 2 .

RE : option 3 - Vidanta does not care what you do regarding the Hilton TS
Your contract with them is valid and you signed it . The trade in was a way of convincing you to buy .

TUG Member - Eric B posted details in a post in the Mexican Forum from last year / he bought Grand Luxxe ./ others have posted as well .

If you truly want to be rid of the Hilton - option 1 will likely work .
it will end up on eBay for $ 1 / & if that is all it sells for -
then TImeshare Resale Market makes $ 1879.
 

Alvin Olson

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option 3 : - you keep the Hilton / either to use OR give away ( see TUG bargain sub forum )

FORGET Option 2 .

RE : option 3 - Vidanta does not care what you do regarding the Hilton TS
Your contract with them is valid and you signed it . The trade in was a way of convincing you to buy .

TUG Member - Eric B posted details in a post in the Mexican Forum from last year / he bought Grand Luxxe ./ others have posted as well .

If you truly want to be rid of the Hilton - option 1 will likely work .
it will end up on eBay for $ 1 / & if that is all it sells for -
then TImeshare Resale Market makes $ 1879.

We have a minimal investment in the Hilton, ~20K we used it for 2 years only. It would be nice to get more value than giving it away. I understand now that Vidanta inflated the price of the package so them knocking off 50K for the Hilton was just a sales technique that I fell for. It did take 7 hours to wear me down, but from what I understand now, that is their standard operating procedure. Heck, Hilton Grand Vacations is who booked this trip to Vidanta for me, I didnt even know it wasn't a Hilton property until I got there and got snookered into a free breakfast to listen to an hour presentation.

I truly enjoyed my vacation there, and prefer that resort over my Hilton options.
 

T-Dot-Traveller

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I had a 5 day period, but that was 2 weeks ago. I am happy with, I think, the location we chose, although after reading all of the negative about Vidanta sales techniques, I am not sure I want to do business with them. I for sure dont want to have 2 time shares.

VIdanta has great properties . THe " hotel" side of their business is the real thing .

" Hotel Side " has a separate management ( up till about when you get to the family management )
Vidanta is not a publicly traded company .

Vidanta sales ( Vida ) is a HIGH PRESSURE TS sales operation . They are very successful in convincing
people to buy their product .

Use the resorts , read the contract re booking windows etc , & and when the nice person at check in , try's to sign you up for a " members update " - tell them politely - NO THANK YOU .
Vidanta always has an " upgrade " to sell you .

FYI - they use the revenue from sales to build / which is part of why they have great properties to visit .

PS : The buy is a done deal . FIgure out how to best use Vidanta for future vacations .
The TUG Mexican forum has lots of good information
 
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VacationForever

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We have a minimal investment in the Hilton, ~20K we used it for 2 years only. It would be nice to get more value than giving it away. I understand now that Vidanta inflated the price of the package so them knocking off 50K for the Hilton was just a sales technique that I fell for. It did take 7 hours to wear me down, but from what I understand now, that is their standard operating procedure. Heck, Hilton Grand Vacations is who booked this trip to Vidanta for me, I didnt even know it wasn't a Hilton property until I got there and got snookered into a free breakfast to listen to an hour presentation.

I truly enjoyed my vacation there, and prefer that resort over my Hilton options.
The statement got me puzzled. Why would Hilton Grand Vacations book Vidanta for you? I am not aware that there is a relationship there.
 

Alvin Olson

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The statement got me puzzled. Why would Hilton Grand Vacations book Vidanta for you? I am not aware that there is a relationship there.

On the HGV website, you choose a destination and it listed the Grand Luxxe as an option, I called and spoke to a reservations person at HGV and they booked it. I am sure it was via their RSI Exchange, but that wasn't clear.
 

RX8

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On the HGV website, you choose a destination and it listed the Grand Luxxe as an option, I called and spoke to a reservations person at HGV and they booked it. I am sure it was via their RSI Exchange, but that wasn't clear.

That would be RCI Exchange.

Regarding your HGVC I suggest to contact Judi K or Seth Nock, two respected brokers on this site. Either can give you an honest opinion on what you can expect to receive by selling your HGVC.
 

Eric B

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There is option 4, too, call Vidanta customer services and tell them you want to keep the HGVC one and they’ll have TRM stop bothering you. Then you can keep or dispose of it yourself without paying anyone (except the MF you would be paying anyway).

If you look at your actual contract with Vidanta you won’t see any mention of the trade in on it; just the separate agreement sheet.
 

SmithOp

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We have a minimal investment in the Hilton, ~20K we used it for 2 years only. It would be nice to get more value than giving it away. I understand now that Vidanta inflated the price of the package so them knocking off 50K for the Hilton was just a sales technique that I fell for. It did take 7 hours to wear me down, but from what I understand now, that is their standard operating procedure. Heck, Hilton Grand Vacations is who booked this trip to Vidanta for me, I didnt even know it wasn't a Hilton property until I got there and got snookered into a free breakfast to listen to an hour presentation.

I truly enjoyed my vacation there, and prefer that resort over my Hilton options.

Whoa, slow down. You dropped $20k on HGVC only 2 years ago? That means your vacations just cost you $10k per year plus maint fees if you get rid of it so soon. You would have been better off keeping HGVC and using it to trade into Vidanta than buying another timeshare so soon after buying from Hilton.

How can you possibly say you dont like HGVC locations, you haven’t owned long enough to try all of them! That was some strong kool-aid they served up at the Vidanta presentation, or should I say brainwashing session.

Stick around and learn to use what you have by reading here on TUG for at least 6 months before doing any more timeshare presentations.


Sent from my iPad using Tapatalk Pro
 

Alvin Olson

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Thank You everyone for the help here. I have another question regarding this HGVC. If I choose option 1 and basically pay them $1879.00 to take it from me.
What happens next? Will I be on the hook for anything else from HGVC like the HOA Fees which are ~ $1,000.00 due at the end of the year, but invoiced in November?
If this asset sits on their books for 2 years, will I have to keep paying or is that on their dime?
My plan is to see if Vidanta Customer Service will tell them to go pound sand and keep my HGVC points and try to sell them on my own maybe. I know if I do that, I will be on the hook for the HOA fees and such until it is sold.
 
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