Hgvc/favc

[exnewyorker]

my husband and i just returned from cabo (fiesta americana) and decided to purchase a timeshare there. i am heavily researching the resale market right now and have found what seems like some great deals. i cannot find the answer to this question....... if i purchase hgvc as opposed to favc, does that allow me to book the open season rates within 30 days at any of the resorts?????? i think the answer is YES, but would love confirmation. also, if anyone can make any suggestions/recommendations about hgvc that would be awesome!!! thanx~~lauren :whoopie: HAPPY NEW YEAR

 

[DeniseM]

You will save a fortune buying resale - you should rescind ASAP - you have a limited time to do so. Note that you probably only have 5 days to rescind, so don't delay. Then you can take your time, do your homework, and make the purchase that's right for you, with no pressure....and you will save thousands...

Here is an FAQ about rescinding for more background Info. It was written for another system, but everything else applies to you.

GOOD LUCK!

 

[Helaine]

Yes. HGVC members can use FAVC Open Season. FAVC does say there is less availability for HGVC members than for FAVC members, though.

 

[exnewyorker]

ooooooooooooopppps! i guess that didnt come out clearly...we decided we wanted to purchase one then....but didnt actually make a purchase!! the decision was made there over drinks and a beautiful sunset!!! luckily, we had the wherewithall to "wait" since i have since discovered resales and TUG!!!!

i actually did have a question about rescinding tho!!! if 10 years out for example we no longer wanted to keep our TS (i do not anticipate this...just want to dot all I's and cross all T's!!) if there is a limited or declining resale market, what are the options? can they be rescinded to the mother company???? are there any other "outs"??

 

[DeniseM]

ooooooooooooopppps! i guess that didnt come out clearly...we decided we wanted to purchase one then....but didnt actually make a purchase!! the decision was made there over drinks and a beautiful sunset!!! luckily, we had the wherewithall to "wait" since i have since discovered resales and TUG!!!!

i actually did have a question about rescinding tho!!! if 10 years out for example we no longer wanted to keep our TS (i do not anticipate this...just want to dot all I's and cross all T's!!) if there is a limited or declining resale market, what are the options? can they be rescinded to the mother company???? are there any other "outs"??

I'm so glad you didn't buy from the developer!

The rescission period is always only a few days. There are no easy outs. Once you own the timeshare, it's your responsibility to pay the fees as long as you own it. It's kind of like marriage - easy to get into and hard to get out of!

However, if you buy on the resale market and pay a low price, it is far easier to get rid of it, because you don't lose much if you have to resale it for little or nothing. It's a lot easier to stomach a loss of a few hundred, as opposed to a loss of thousands! In better times, careful buyers were often able to at least break even when they resold, and hopefully we will get back to that when the economy improves. But you don't want to think of it as a financial investment - timesharing is a way to have great vacations at a lower cost - not an investment that will make a profit.

There are a few timeshares, especially in Mexico, that are RTU or right to use and you only own those for a specific number of years and then you ownership ends and you have no more obligation. Disney Vacation Club is also RTU.

Timesharing is great - but don't be in a rush to buy something. This is a buyer's market right now and you should investigate all your options before you buy. My suggestions for buying your first timeshare.

 

[annenp]

my husband and i just returned from cabo (fiesta americana) and decided to purchase a timeshare there. i am heavily researching the resale market right now and have found what seems like some great deals. i cannot find the answer to this question....... if i purchase hgvc as opposed to favc, does that allow me to book the open season rates within 30 days at any of the resorts?????? i think the answer is YES, but would love confirmation. also, if anyone can make any suggestions/recommendations about hgvc that would be awesome!!! thanx~~lauren :whoopie: HAPPY NEW YEAR

how's the resort????

 

[i39249]

Exnewyorker,

Very rarely do I see availability for 30 day open season reservations at the FAVC resorts. You do however have a pretty good shot of reserving a FAVC unit through HGVC. The only quirky thing is that they don't always show what is available at the 9 month window. Sometimes 6 to 8 months out, then it will show what is available. Somewhat hard to predict, but not impossible, if you plan it out. Keep in mind that a lot of Mexican timeshares expire after X number of years vs HGVC's, you own the deed. Also some Mexican timeshares double your maintenance fees once every five years. (of course US timeshares will sometimes have special assessments as well.) Either way, do your research.

I find that with HGVC, there is flexibility and you somewhat have recourse should something go wrong. I have used HGVC points to stay at FAVC in Cancun. I was able to plan it out and even stayed in a 2 bedroom ocean front unit. It's doable, you just need to plan. Of course if you want a guarantee reservation, then I would by a FAVC unit (resale of course.) But for flexibility and confidence in what I'm purchasing, IMHO I would go with HGVC.

 

[Helaine]

The Resort itself is very pretty. I was there in July. Nice units - all with ocean views. Several pools and restaurants with good food. I'll try to answer specific questions, if you have any.

FAVC does not double the MF every 5 years. There's no mention of this happening at all.

 

[Helaine]

Also, if you buy FAVC you have to pay a separate HGVC membership charge for each unit you buy.