General Info on BlueGreen Vacations

[Designerd]

Hello,
I am trying to help a friend out. His father recently passed and he owned a Bluegreen timeshare. I own Wyndham and knew about this forum so I told him I would see if I could share some information with the group to help him through this process.

1) he doesn't want to keep the time share
2) based in mrytle beach
3) How does Bluegreen work? Points, fixed weeks, etc..
4) How does resales work with Bluegreen?
5) Are there any restrictions/changes I should advise buyers based on it being a resale?
6) Does Bluegreen limit benefits based on the timeshare being a resale?
7) What is their transfer fee for the deed?

Thank you!
(Note: I will post additional information on the property as soon as I receive the details on the unitl. Thank you.)

 

[nuwermj]

1) he doesn't want to keep the time share
2) based in mrytle beach
3) How does Bluegreen work? Points, fixed weeks, etc..
4) How does resales work with Bluegreen?
5) Are there any restrictions/changes I should advise buyers based on it being a resale?
6) Does Bluegreen limit benefits based on the timeshare being a resale?
7) What is their transfer fee for the deed?

1) If your friend has not taken ownership of the points Bluegreen will probably take them from the estate. Otherwise, he can give away the points. There are some active forums where points are bought and sold.

2 & 3) Bluegreen is a trust fund based point system. Like Wyndham's CWA. Bluegreen assigns all points to a deed in the trust fund (probably the Myrtle Beach deed in your friend's case), but the owner does not own the deed. This slight of hand or misdirection encourages people to think they own real estate, but ownership is beneficial interest in the trust fund.

4) Nothing special that I'm aware of. Find a buyer, fill-out a form and submit it to BG. They are currently exercising ROFR on a selective basis. This might benefit your friend if he simply whats to dump the points. Buyers will want to know the trust fund (A through E; most likely E). They will want to know the "sales type" (a single letter); the number of points; the number of contracts (transfer fee is $450 per contract) (a contract can have multiple underling deeds; I have three deeds and one contract); the underling deed or deeds.

5 & 6) Resale points do not get "charter benefits". These are "traveler's plus" benefits and the Bluegreen Loyalty benefits. Lots of Bluegreen owners don't care about these benefits. Resale points are attractive to many, they have no accommodation restrictions.

7) $450 per contract. No title transfer is involved.

 

[mac5u]

Before I knew about TUG and resales, I owned Bluegreen so that should tell you a lot right there. I own biennial, 8000 points which really doesn't afford you that many choices in the system. Most places I would like to go, I would need a minimum of 16000 and usually around 24000.

I remember reading somewhere on TUG - and can't now find it (should have bookmarked the page) that it is (or was) possible to buy someone rights to their points or even someone else's BG TS without also incurring another maintenance fee. I admit my impressions may be a bit fuzzy but I remember thinking at the time that this was a way for me to increase my BG portfolio without also adding in another maintenance fee and that really impressed me.

Please set me straight on this. Thanks.

 

[CharlesS]

Before I knew about TUG and resales, I owned Bluegreen so that should tell you a lot right there. I own biennial, 8000 points which really doesn't afford you that many choices in the system. Most places I would like to go, I would need a minimum of 16000 and usually around 24000.

I remember reading somewhere on TUG - and can't now find it (should have bookmarked the page) that it is (or was) possible to buy someone rights to their points or even someone else's BG TS without also incurring another maintenance fee. I admit my impressions may be a bit fuzzy but I remember thinking at the time that this was a way for me to increase my BG portfolio without also adding in another maintenance fee and that really impressed me.

Please set me straight on this. Thanks.

Your impression was a bit too fuzzy. There is no free lunch. More points = more fees. The resorts still have to be maintained. BUT, you can increase your number of points and decrease your cost per point. That is, the more you own the less it costs per point providing you are in Trust Fund E. Why? Ultimately because there are three "fees".

1. Vacation club dues. Someone with 6000 points pays the same dues as someone with 100,000 points. The more points you own, the less per point cost is associated with these dues.

2. Maintenance "base" fee. In the maintenance fee calculation there are two parts. The first is the "base" fee which is the same for everyone whether it is 6,000 points or 100,000 points. The more points you own, the less per point cost is associated with the base fee.

3. Maintenance "per point" fee. The second part of the maintenance fee calculation is a certain amount per point. This goes up as you increase the number of points.

Please note that this pertains to Trust Fund E (which includes points sold by BG since 2002 or 2003 and is the great majority of the point ownerships). If you are interested in the other Trust Funds, join the Bluegreen Yahoo Group and look into the files to find the Excel spreadsheet which gives the fees in three of the Trust Funds for any number of points going back some 10 years.

As an aside, 9,000 points gets you a two bedroom, two bath summer week at Christmas Mountain. 7,000 points gets you a 1 bedroom gulf front in Panama City in February. Of course, the newer and fancier resorts take more points. And as with all points systems, subject to availability. Plan ahead.

Charles

 

[CharlesS]

Member tschwa2 has reported:

"If you go to https://www.bluegreenowner.com/owner/helpWin_A.aspx
You can then substitute anything from A to E for the A and it will give you how the MF is calculated."

Charles