KevinM
newbie
- Joined
- Oct 23, 2018
- Messages
- 4
- Reaction score
- 6
- Resorts Owned
- Grandview at Las Vegas (two separate timeshares)
Hi All,
First of all, I want to give a big "thank you" to the people who run this forum. It has greatly helped ease my mind about this whole process!
Update: 122,000 timeshare has been spoken for. I've modified the post to reflect this.
We are giving away our Grandview at Las Vegas timeshare on behalf of my aging parents. From my research it's really solid in terms of the maintenance-to-points ratio. The mortgage is fully paid. Here is the info:
In addition to the full 2018 points, we also have a total of 12,293 past years' points. All RCI points (61,293) will be transferred after the new deed is recorded and confirmed with Grandview. As a bonus, if you don't already have an RCI account, we will transfer the whole account to you if you want, which will save you a couple hundred dollars I believe compared to opening your own. And the RCI fees are paid through 7/31/2019.
With the number of points available, all we are asking is that the buyer pay for the closing costs. I've already done all of the research and have communicated with the title company (LT Transfers, recommended by DeniseM, moderator from this forum), so you would just be responsible for sending them the costs via Paypal. I will continue to handle communication with them and all of the paperwork, unless you would feel more comfortable taking that over. Here is the full breakdown of the costs:
-$150: fee for the title company (LT Transfers)
-$65: County Recording Fees plus postage
-$250: Grandview Resort Transfer Fee
-$100: RCI's cost to transfer points.
Optional: you can pay $50 to use LT Transfers as escrow. I'm new to this whole thing, but I don't think this part is necessary, since we won't be exchanging money for the deed.
Total cost: $565.
I asked LT Transfers if they would hold the RCI points in escrow in order to protect the buyer, but they told me they will not do this. But after the deed is transferred and recorded with Grandview I will fill out my portion of the transfer document, which you can then send to RCI with their required fee.
Let me know if there's any other information you need! I'm very new to this whole process, but want to make sure that these timeshares (which were super expensive when my parents bought them) go to a good, loving home.
Thank you,
Kevin
Original Post Below:
We are giving away our two Grandview at Las Vegas timeshares on behalf of my aging parents. From my research these are really solid in terms of the maintenance-to-points ratio. Mortgages are fully paid. Here is the info on each:
1) Grand Building 1, week 42, annual (2) one-bedroom units in a "lock-off unit". Each one bedroom unit sleeps 4. Accrues 122,000 RCI points annually, which are unused for 2018. 2018 dues are paid for, and all 2018 points are available, plus some prior year points. Total annual maintenance was $803 for 2018. We paid $29,990 to purchase this timeshare, which included $5000 to convert it to points. I believe the contract also includes two bonus weeks per year, but don't know how this works (other than the fact that we didn't use these for 2018).
2) Grand Building 5, week 36, biennial (even years) one bedroom unit. Accrues 49,000 RCI points every other year (in even years), which are unused for 2018. 2018 dues are paid for, and all 2018 points are available, plus some prior year points. Total annual maintenance was $200.75 for 2018, and the maintenance is paid each year. We paid $8990 to purchase this timeshare. I believe the contract also includes one bonus week per year, but don't know how this works (other than the fact that we didn't use it for 2018).
We have a total of 61,467 past years' points. If you buy only one timeshare, we will transfer a corresponding percentage of these points along with the full 2018 points. To make it simple, 80% of the prior points (49,174) will go with the first timeshare, and 20% with the second.
With the number of points available, all we are asking is that the buyer pay for the closing costs. I've already done all of the research and have communicated with the title company (LT Transfers, recommended by DeniseM, moderator from this forum), so you would just be responsible for sending them the costs via Paypal. I will continue to handle communication with them and all of the paperwork, unless you would feel more comfortable taking that over. Here is the full breakdown of the costs:
-$150: fee for the title company (LT Transfers)
-$65: County Recording Fees plus postage
-$250: Grandview Resort Transfer Fee
-$100: RCI's cost to transfer points. Note that you will need to have your own RCI account. But if you want both timeshares we will transfer the whole RCI account to you directly. Our RCI account has 232,467 total points.
Optional: you can pay $50 to use LT Transfers as escrow. I'm new to this whole thing, but I don't think this part is necessary, since we won't be exchanging money for the deed.
Total cost: $565 per timeshare, or $1030 for both (savings from eliminating one of the RCI transfers).
I asked LT Transfers if they would hold the RCI points in escrow in order to protect the buyer, but they told me they will not do this. Since this seems sketchy from a buyer's point of view, I will in good faith pay the RCI transfer cost after the deed is transferred, and only ask that the buyer pays me back once the RCI points have transferred. So the up-front cost is $465 per timeshare.
Let me know if there's any other information you need! I'm very new to this whole process, but want to make sure that these timeshares (which were super expensive when my parents bought them) go to a good, loving home.
Thank you,
Kevin
First of all, I want to give a big "thank you" to the people who run this forum. It has greatly helped ease my mind about this whole process!
Update: 122,000 timeshare has been spoken for. I've modified the post to reflect this.
We are giving away our Grandview at Las Vegas timeshare on behalf of my aging parents. From my research it's really solid in terms of the maintenance-to-points ratio. The mortgage is fully paid. Here is the info:
- Grand Building 5, week 36, biennial (even years) one bedroom unit. Accrues 49,000 RCI points every other year (in even years), which are unused for 2018. 2018 dues are paid for, and all 2018 points are available, plus some prior year points. Total annual maintenance was $200.75 for 2018, and the maintenance is paid each year. We paid $8990 to purchase this timeshare. I believe the contract also includes one bonus week per year, but don't know how this works (other than the fact that we didn't use it for 2018). This is a great starter timeshare, as the per-year maintenance fee is low, while still providing good RCI points.
In addition to the full 2018 points, we also have a total of 12,293 past years' points. All RCI points (61,293) will be transferred after the new deed is recorded and confirmed with Grandview. As a bonus, if you don't already have an RCI account, we will transfer the whole account to you if you want, which will save you a couple hundred dollars I believe compared to opening your own. And the RCI fees are paid through 7/31/2019.
With the number of points available, all we are asking is that the buyer pay for the closing costs. I've already done all of the research and have communicated with the title company (LT Transfers, recommended by DeniseM, moderator from this forum), so you would just be responsible for sending them the costs via Paypal. I will continue to handle communication with them and all of the paperwork, unless you would feel more comfortable taking that over. Here is the full breakdown of the costs:
-$150: fee for the title company (LT Transfers)
-$65: County Recording Fees plus postage
-$250: Grandview Resort Transfer Fee
-$100: RCI's cost to transfer points.
Optional: you can pay $50 to use LT Transfers as escrow. I'm new to this whole thing, but I don't think this part is necessary, since we won't be exchanging money for the deed.
Total cost: $565.
I asked LT Transfers if they would hold the RCI points in escrow in order to protect the buyer, but they told me they will not do this. But after the deed is transferred and recorded with Grandview I will fill out my portion of the transfer document, which you can then send to RCI with their required fee.
Let me know if there's any other information you need! I'm very new to this whole process, but want to make sure that these timeshares (which were super expensive when my parents bought them) go to a good, loving home.
Thank you,
Kevin
Original Post Below:
We are giving away our two Grandview at Las Vegas timeshares on behalf of my aging parents. From my research these are really solid in terms of the maintenance-to-points ratio. Mortgages are fully paid. Here is the info on each:
1) Grand Building 1, week 42, annual (2) one-bedroom units in a "lock-off unit". Each one bedroom unit sleeps 4. Accrues 122,000 RCI points annually, which are unused for 2018. 2018 dues are paid for, and all 2018 points are available, plus some prior year points. Total annual maintenance was $803 for 2018. We paid $29,990 to purchase this timeshare, which included $5000 to convert it to points. I believe the contract also includes two bonus weeks per year, but don't know how this works (other than the fact that we didn't use these for 2018).
2) Grand Building 5, week 36, biennial (even years) one bedroom unit. Accrues 49,000 RCI points every other year (in even years), which are unused for 2018. 2018 dues are paid for, and all 2018 points are available, plus some prior year points. Total annual maintenance was $200.75 for 2018, and the maintenance is paid each year. We paid $8990 to purchase this timeshare. I believe the contract also includes one bonus week per year, but don't know how this works (other than the fact that we didn't use it for 2018).
We have a total of 61,467 past years' points. If you buy only one timeshare, we will transfer a corresponding percentage of these points along with the full 2018 points. To make it simple, 80% of the prior points (49,174) will go with the first timeshare, and 20% with the second.
With the number of points available, all we are asking is that the buyer pay for the closing costs. I've already done all of the research and have communicated with the title company (LT Transfers, recommended by DeniseM, moderator from this forum), so you would just be responsible for sending them the costs via Paypal. I will continue to handle communication with them and all of the paperwork, unless you would feel more comfortable taking that over. Here is the full breakdown of the costs:
-$150: fee for the title company (LT Transfers)
-$65: County Recording Fees plus postage
-$250: Grandview Resort Transfer Fee
-$100: RCI's cost to transfer points. Note that you will need to have your own RCI account. But if you want both timeshares we will transfer the whole RCI account to you directly. Our RCI account has 232,467 total points.
Optional: you can pay $50 to use LT Transfers as escrow. I'm new to this whole thing, but I don't think this part is necessary, since we won't be exchanging money for the deed.
Total cost: $565 per timeshare, or $1030 for both (savings from eliminating one of the RCI transfers).
I asked LT Transfers if they would hold the RCI points in escrow in order to protect the buyer, but they told me they will not do this. Since this seems sketchy from a buyer's point of view, I will in good faith pay the RCI transfer cost after the deed is transferred, and only ask that the buyer pays me back once the RCI points have transferred. So the up-front cost is $465 per timeshare.
Let me know if there's any other information you need! I'm very new to this whole process, but want to make sure that these timeshares (which were super expensive when my parents bought them) go to a good, loving home.
Thank you,
Kevin
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