Grandview at Las Vegas deed back vs sell

[klam2go]

We bought our timeshare at the GV off of eBay in 2011. Very very good deal compared to what they wanted to gouge us for when we sat through a "quick" resort presentation to get our free Cirque tickets.

Now nearly 9 years later, kids are grown up and our parent don't/won't travel far from home. Our travel style has changed as well and we no longer are using the timeshare. I started looking into selling it and yes, I didn't find TUG first. Anyways, months later and only a few hundred $$$ poorer we: a) found TUG (and joined ); and b) investigated deeding back to Vacation Village.

After a month of back and forth with Vacation Village/Daily Management, the Board of Directors advised us through Owner Relations that it would cost $2500 USD (add over 30% exchange as we're Canucks) to deed back directly with the resort. Trying to figure out if the is "normal"or "reasonable". We've done the CBA on it and payback is about 3 years given maintenance and RCI fees, plus exchange rates and costs to go outside of your home resort (Vegas - been there done that).

We have posted the unit in the forum and I'll try eBay but trying to determine if selling worth it and any hassles or problems that may come up with no-shows or scammers.

Pros (deed back):

• Done! No waiting to see if somebody finally decides that our timeshare is what they want.
• Dealing directly with the company, no third party hoping the transaction goes through.

Cons:

• Spending $2500 USD (~$3400 CDN) vs potentially nothing or very little.
• Takes 3 years to get back to the point if we never deeded back and didn't sell.

Advice is greatly appreciated.

 

[Jan M.]

More information would be helpful to give you the best advice. Do you have a points week or a fixed week that you would get TPUs, Trading Power Units, for if you deposited it for trade? Is it a one bedroom or a two bedroom and which week is it?

 

[bogey21]

If you don't want it, give it away...

George

 

[klam2go]

More information would be helpful to give you the best advice. Do you have a points week or a fixed week that you would get TPUs, Trading Power Units, for if you deposited it for trade? Is it a one bedroom or a two bedroom and which week is it?

RCI annual 49,0000 points. 1 br, week 17

 

[klam2go]

If you don't want it, give it away...

George

Basically I am. For sale really cheap with buyer picking up closing costs.

 

[bogey21]

I have always subscribed to the premise that time is money. If you really want out, I'd be more aggressive. Give it away for free and pick up the closing costs. More than likely it would get done in a heartbeat and sure beat $2,500 for Deed Back...

George

 

[DaveNV]

Basically I am. For sale really cheap with buyer picking up closing costs.

If you were prepared to pay Grandview to take it back, translate that money into finding a buyer first: Give it away for free, pay the closing costs, (through LT Transfers it's only like $150 all in https://www.lttransfers.com), and if push come to shove, maybe even offer the new owner a cash incentive of a few hundred dollars at closing. Consider prepaying next year's maintenance fees for the new owner.

Free timeshares are everywhere, so you need to make yours more enticing than another. If the goal is to be rid of it, is the offer worth considering? If you delay things until you have to pay another maintenance fee, you just lost even more money. Do what it takes to get it gone, and walk away. Then you'll be done with it, which is your intention anyway.

I've given away every timeshare I wanted to be rid of by offering it for free and paying the transfer costs. If you ask the buyer to pay transfer fees and such, then your timeshare is no better or worse than someone else's. Sweeten the pot, and you'll attract a lot more interest.

Look at eBay listings, too. Tug is one resource to find a taker for a free timeshare, but eBay is a great place to also find someone.

Good luck!

Dave

 

[mcsteve]

Great advice Dave. As someone who has been looking to add properties to his TS portfolio this year, you hit on many of the items I have been using to prioritise the properties I have been looking at. Paying closing and transfer fees is a small cost but it is a cost and if the buyer does not have to deal with these issues it makes the deal appear to be simpler. Also, prepaying with a closing company like LT or the others recommended heavily on this forum goes a long way in presenting a level of comfort for the buyer.

 

[Jan M.]

Someone will want your week especially since it's points and the maintenance fees were only about $417.50 for 2019. The 2020 maintenance fees will be due by January 1 and may go up.

In the last 15 months we've taken on two new Grandview point weeks we got from other Tuggers and gave away the two they replaced to other Tuggers who were willing to pay the closing cost and resort transfer fee.

If you don't have a copy of your deed go on the Clark County website and order one. LT Transfers will do that for you but they will charge you I believe it is $50 American to do it. You will save yourself some money and expedite the process if you either have your copy or get one sent to you. LT Transfers will charge around $215 and the resort charges $250. Both of those figures are in American dollars.

Go to the RCI website and under your name click on the Welcome Center. Page down until you see Help Library, way down on the left side. When you open the Help Library you will see Fees and Forms on the right side of the page. On the list or fees and forms you will see Membership Transfer Application, MTA. Print out the form and fill it out. If you need help filling it out, private message me and I will send you my phone number so I can walk you through how to fill it out.

If you don't intend to keep your RCI account you can transfer the account to the person taking your week if they don't already have their own points account. It costs $98 American to do that. That is also how much it will cost them to add your week to their account if they already have an account. If you want to keep your account and they have to open a new account it will cost them $222 American to do that and the price includes the first year membership fee. After you fill out your part you can either scan it and email it to the person who takes your week or you can mail it. They shouldn't send it in until they've been notified that the resort has transferred the week to their name. When the other party fills out the form and either faxes it to the number on the form or mails it in it will process a lot faster if they put their credit card on the form for the fee rather than pay by check,

Open up the Buying, Selling and Renting Timeshares forum and click on Free Timeshare Giveaways and Bargain Deals. Then decide which fees you're willing to pay and which fees the other person will pay. You are welcome to copy and paste this and fill in the blanks to post a new thread to list your week.

Grandview Las Vegas
49,000 annual RCI points deeded as week 17 in a one bedroom unit
Use year is ....... (fill in the month shown on your RCI account)
2019 maintenance fees of $417.50 have been paid. Next maintenance fees will be due by 1/1/2020.

LT Transfers fee of approximately $215 to be paid by ......You/Me
Resort Transfer fee of $250 to be paid by......
Membership Transfer Application fee of either $98 if the you already have an RCI account or if you want my account transferred to you. Otherwise it will be $222 to set up a new RCI account which includes the first year membership fee. To be paid by .......

 

[Beach57]

We bought our timeshare at the GV off of eBay in 2011. Very very good deal compared to what they wanted to gouge us for when we sat through a "quick" resort presentation to get our free Cirque tickets.

Now nearly 9 years later, kids are grown up and our parent don't/won't travel far from home. Our travel style has changed as well and we no longer are using the timeshare. I started looking into selling it and yes, I didn't find TUG first. Anyways, months later and only a few hundred $$$ poorer we: a) found TUG (and joined ); and b) investigated deeding back to Vacation Village.

After a month of back and forth with Vacation Village/Daily Management, the Board of Directors advised us through Owner Relations that it would cost $2500 USD (add over 30% exchange as we're Canucks) to deed back directly with the resort. Trying to figure out if the is "normal"or "reasonable". We've done the CBA on it and payback is about 3 years given maintenance and RCI fees, plus exchange rates and costs to go outside of your home resort (Vegas - been there done that).

We have posted the unit in the forum and I'll try eBay but trying to determine if selling worth it and any hassles or problems that may come up with no-shows or scammers.

Pros (deed back):

• Done! No waiting to see if somebody finally decides that our timeshare is what they want.
• Dealing directly with the company, no third party hoping the transaction goes through.

Cons:

• Spending $2500 USD (~$3400 CDN) vs potentially nothing or very little.
• Takes 3 years to get back to the point if we never deeded back and didn't sell.

Advice is greatly appreciated.

Try putting in it on TUB or eBay and sweeten the pot by offering to pay transfer fees, and give a gift card. I offered a $250 Visa card and I had thirty-one bids on eBay for my Las Vegas TS just last week. So far everything is going smoothly. Good luck. Just think $3500 is too much.

 

[klam2go]

Updated my TUG listing to reflect all of your excellent advice. See how it goes and I'll be trying eBay soon. Summary, cost is $0.01, we'll pay the transfer fees and buyer will pick up the RCI fees as required.

 

[CalGalTraveler]

I hope you are able to give it away quickly. That is the best and cleanest solution.

$3,300 CDN sounds like extortion. Especially since your MF is less than $500 per year. That's equivalent to 6 years of use!

Is the unit fully paid for? If so and giving it away doesn't work, given you are Canadian, would there be any risk to your credit etc. if you just stopped paying MF and ignored their calls? I don't think U.S. entities can touch Canadian credit files and have any muscle for legal action, but I am not a lawyer. Could save you $3,300 CDN. Search TUG for this topic and speak to a lawyer.

 

[Jan M.]

Updated my TUG listing to reflect all of your excellent advice. See how it goes and I'll be trying eBay soon. Summary, cost is $0.01, we'll pay the transfer fees and buyer will pick up the RCI fees as required.

Do you have it listed under the Buying, Selling and Renting Timeshares forum in the Free Timeshare Giveaways and Bargain Deals? I'm not seeing it listed. More people will see it if you do it this way than if you just have it listed in the TUG Marketplace.

 

[DaveNV]

Like Jan says, you need to also list your timeshare here, too: https://tugbbs.com/forums/index.php?forums/free-timeshare-giveaways-and-bargain-deals.55/

Dave

 

[mcsteve]

I think you will find that there will now be interest in your new offer. And, you are still saving compared to the deed back fee that Grandview wanted. I’d be surprised if you were not able to find a new home for this before the next maintenance fee is due.

 

[klam2go]

Newbie mistake. I read the replies but didn't "read" them. Now posted in both locations. Again thanks for the great advise.

 

[klam2go]

I hope you are able to give it away quickly. That is the best and cleanest solution.

$3,300 CDN sounds like extortion. Especially since your MF is less than $500 per year. That's equivalent to 6 years of use!

Is the unit fully paid for? If so and giving it away doesn't work, given you are Canadian, would there be any risk to your credit etc. if you just stopped paying MF and ignored their calls? I don't think U.S. entities can touch Canadian credit files and have any muscle for legal action, but I am not a lawyer. Could save you $3,300 CDN. Search TUG for this topic and speak to a lawyer.

Considered this as we paid very little (off of eBay), and being Canadian paid cash (can't get a mortgage in the US). We know somebody who hasn't paid MF in years, and as far as I know, hasn't heard from the HOA. Yet. That being said, I would personally feel better by transferring the deed to somebody else for what it now appears to be the equivalent of next years fees and a fraction of what DM wants to charge.

 

[Jan M.]

I see you have someone who private messaged you. Hope she takes it because it is an excellent deal with you paying both fees. And 128 views in such a short period of time is impressive. Don't forget to pm me if you want some help filling out the Membership Transfer Application.

 

[Lowbud]

FWIW this year I deeded back a vacation village of weston 2br annual week 15 for $1500 USD. I wanted out of the contract because I had too many. Tried for over 6 months to give it away with no luck at all. $1015 annual MF fee I figured I would have to include at least one, possibly two years usage to move it for free. I opted to just pay the $1500 and move on.

It was quick, painless, and worth it IMHO. I think from first call to owner relations to signing the quit claim deed.. took all of about 45 days.

The weston contract was my first venture into points so it was my highest point to MF ratio which is why i wanted to part with it.

Good luck!

 

[Lowbud]

Forgot to mention it was a points contract. 86,500 annual

 

[klam2go]

UPDATE

Transfer is complete Can't log into RCI as account no longer exists and checked the Daily Management account page and timeshare is in new owners name - which means the last act is to have the new owner log in and change the account access info; this is already taking place. Shout-out to LT Transfers and their excellent job on making this a smooth and relatively quick process.

Many thanks to those who gave the excellent advise.

 

[pharmacistking]

UPDATE

Transfer is complete Can't log into RCI as account no longer exists and checked the Daily Management account page and timeshare is in new owners name - which means the last act is to have the new owner log in and change the account access info; this is already taking place. Shout-out to LT Transfers and their excellent job on making this a smooth and relatively quick process.

Many thanks to those who have the excellent advise.

How long was the total transfer time from accepted transfer to close?

 

[klam2go]

How long was the total transfer time from accepted transfer to close?

In the end about two months. Initial offer was 28 Oct and Daily Management processed the transfer on 24 Dec. The deed took the longest, about 4-5 weeks with having to get documents prepped, reviewed, signed, mailed back, and filed at the County office.

Can't say enough about LT Transfers and their assistance in making this as painless as possible.

 

[DaveNV]

Glad it worked out, and happy I may have helped . Think of how much you saved by giving it away here, vs. paying a PCC to unload it for you.

BTW, you need to edit your "Resorts Owned" line.

Dave

 

[klam2go]

Glad it worked out, and happy I may have helped . Think of how much you saved by giving it away here, vs. paying a PCC to unload it for you.

BTW, you need to edit your "Resorts Owned" line.

Dave

Now "former owner".....