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HGVC Flamingo purchase

CaliGirl08

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Someone told me to put thread into this category.

I am new to TUG. I have been to a few timeshare presentations to Hilton, Holiday Inn and Wyndham. I was in contract with Hilton for $13k and rescinded my offer. I liked the Hilton program and decided to buy a resale timeshare. I am in contract with RedWeek for Flamingo 5,000 annual points for $1,300 + closing at title company. The maintenance fees are $1,049 annually which seem high after looking at TUG. I should have done more research and looked at TUG earlier. :wall:Any thoughts on the deal or MF?

The contract says 90 days to close. Does it really take this long or quicker? Has anyone else bought through RedWeek?
 
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hurnik

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Someone told me to put thread into this category.

I am new to TUG. I have been to a few timeshare presentations to Hilton and Wyndham. I was in contract with Hilton for $13k and rescinded my offer. I liked the Hilton program and decided to buy a resale timeshare. I am in contract with RedWeek for Flamingo 5,000 annual points for $1,300 + closing at title company. The maintenance fees are $1,049 annually which seem high after looking at TUG. I should have done more research and looked at TUG earlier. :wall:Any thoughts on the deal or MF?

The contract says 90 days to close. Does it really take this long or quicker? Has anyone else bought through RedWeek?

Can be quicker, can be longer. Most of my HGV have closed in 60-90 days. I've had two of the 5 take significantly longer due to "issues" with the closing company.
 

CaliGirl08

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Can be quicker, can be longer. Most of my HGV have closed in 60-90 days. I've had two of the 5 take significantly longer due to "issues" with the closing company.

The closing company is "Timeshare Closings for Less"
 

Grammarhero

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Former: Wyndham 276k, HGVC South Bend 1/1
Someone told me to put thread into this category.

I am new to TUG. I have been to a few timeshare presentations to Hilton and Wyndham. I was in contract with Hilton for $13k and rescinded my offer. I liked the Hilton program and decided to buy a resale timeshare. I am in contract with RedWeek for Flamingo 5,000 annual points for $1,300 + closing at title company. The maintenance fees are $1,049 annually which seem high after looking at TUG. I should have done more research and looked at TUG earlier. :wall:Any thoughts on the deal or MF?

The contract says 90 days to close. Does it really take this long or quicker? Has anyone else bought through RedWeek?

You were wise to rescind. Did you rescind before or after reading TUg?
 

dayooper

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HGVC: The Flamingo, The Boulevard
Someone told me to put thread into this category.

I am new to TUG. I have been to a few timeshare presentations to Hilton and Wyndham. I was in contract with Hilton for $13k and rescinded my offer. I liked the Hilton program and decided to buy a resale timeshare. I am in contract with RedWeek for Flamingo 5,000 annual points for $1,300 + closing at title company. The maintenance fees are $1,049 annually which seem high after looking at TUG. I should have done more research and looked at TUG earlier. :wall:Any thoughts on the deal or MF?

The contract says 90 days to close. Does it really take this long or quicker? Has anyone else bought through RedWeek?

I bought at the Flamingo last summer. This was through Redweek, but I used their closing company. We submitted our offer on June 14, the contract was signed by both parties on July 10th (the sellers waited the full 10 days to sign) and we sent our funds Sept 1st and had our deed Sept 24th. I called Oct 9th to set up our account and we were ready to book (which we did a week later).

Being that this is your first purchase, I think it’s wise to have help from a broker or a place like Redweek over eBay. Sometimes you have to pay a little more up front to get that piece of mind.

I think that platinum is always the way to go, but you’ve purchased it and i don’t think it’s a horrible deal. Your MF’s are on the high side ($0.20 per point), and there are platinum units that have MF’s that are similar. Could you have gotten a better MF per points ratio? Sure, but maybe not for your price point. You didn’t purchase from a developer so you are ahead of the game there. It’s yours and enjoy the vacations with it. HGVC is a great system and if you do your research, you can make those 5000 points into a lot of memories very easily.

On piece of advice, spend the $15 and join Tug, the reviews alone are worth it.
 

CaliGirl08

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I bought at the Flamingo last summer. This was through Redweek, but I used their closing company. We submitted our offer on June 14, the contract was signed by both parties on July 10th (the sellers waited the full 10 days to sign) and we sent our funds Sept 1st and had our deed Sept 24th. I called Oct 9th to set up our account and we were ready to book (which we did a week later).

Being that this is your first purchase, I think it’s wise to have help from a broker or a place like Redweek over eBay. Sometimes you have to pay a little more up front to get that piece of mind.

I think that platinum is always the way to go, but you’ve purchased it and i don’t think it’s a horrible deal. Your MF’s are on the high side ($0.20 per point), and there are platinum units that have MF’s that are similar. Could you have gotten a better MF per points ratio? Sure, but maybe not for your price point. You didn’t purchase from a developer so you are ahead of the game there. It’s yours and enjoy the vacations with it. HGVC is a great system and if you do your research, you can make those 5000 points into a lot of memories very easily.

On piece of advice, spend the $15 and join Tug, the reviews alone are worth it.

Thanks for the info. It is definitely cheaper to travel with a timeshare for $1200 per year with 8 people. I'm hoping to squeeze in 2 vacations on weekdays a year. LOL

I was skeptical about the whole process so I even picked Redweek verified transactions with a broker and offered around 50% asking price. I backed out on a prior Marbrisa offer because they increased MF on contract and said website was outdated. I lost trust in that broker. The increased MF became more than Flamingo by $250 for same 5k points. CA is raising minimum wage to $15/hr so annual MF increases may be higher.

What do you use the Tug membership for? Just wondering as a newbie.

How much was your Flamingo purchase last summer? How many points and MF?
 

CalGalTraveler

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Susie Bell at Timeshare Closings for Less, is awesome. We closed on HGVC Paradise in less than 6 weeks (46 days) including a week-long hurricane office closure because Susie was so efficient. Would use again.

TUG membership is the best $15 you will spend for timeshares. There are closed forum and reviews only open to members but mostly pay it forward if you find the reviews and advice helpful to you.

Good luck with your property search.
 

dayooper

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Thanks for the info. It is definitely cheaper to travel with a timeshare for $1200 per year with 8 people. I'm hoping to squeeze in 2 vacations on weekdays a year. LOL

I was skeptical about the whole process so I even picked Redweek verified transactions with a broker and offered around 50% asking price. I backed out on a prior Marbrisa offer because they increased MF on contract and said website was outdated. I lost trust in that broker. The increased MF became more than Flamingo by $250 for same 5k points. CA is raising minimum wage to $15/hr so annual MF increases may be higher.

What do you use the Tug membership for? Just wondering as a newbie.

How much was your Flamingo purchase last summer? How many points and MF?

Although I wanted to pay it forward, the resort reviews are great. They are some of the most unbiased reviews out there and they help me decide where we we will go next.

I got a deal last summer with my unit. I purchased a 2 bedroom platinum unit for $4500. After all of the closing costs and HGVC fees, it was around $6000 out the door. Getting ready to book next summers vacation next month!
 

terces

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Although I wanted to pay it forward, the resort reviews are great. They are some of the most unbiased reviews out there and they help me decide where we we will go next.

I got a deal last summer with my unit. I purchased a 2 bedroom platinum unit for $4500. After all of the closing costs and HGVC fees, it was around $6000 out the door. Getting ready to book next summers vacation next month!
Daytrooper, could I ask where your 2 bedroom platinum for $4500 is located, and what are the MF's.
 

pacman

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Someone told me to put thread into this category.

I am new to TUG. I have been to a few timeshare presentations to Hilton, Holiday Inn and Wyndham. I was in contract with Hilton for $13k and rescinded my offer. I liked the Hilton program and decided to buy a resale timeshare. I am in contract with RedWeek for Flamingo 5,000 annual points for $1,300 + closing at title company. The maintenance fees are $1,049 annually which seem high after looking at TUG. I should have done more research and looked at TUG earlier. :wall:Any thoughts on the deal or MF?

The contract says 90 days to close. Does it really take this long or quicker? Has anyone else bought through RedWeek?

Like dayooper, I recently purchased a 2 bdrm platinum at Flamingo, paying slightly more than $4500. I think you got a decent deal for the 5000 points. Paid less up front, but more per point in MF. There have been numerous discussions on gold vs platinum, so its not all black & white.
 

dayooper

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Daytrooper, could I ask where your 2 bedroom platinum for $4500 is located, and what are the MF's.

At The Flamingo. The MF’s this year was $1049.

I have learned that it was kind of a unicorn purchase. There were several around the same price (from $3900 - $4500) last summer. I haven’t seen any that low since.
 

GT75

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I am new to TUG.

Welcome and congratulations. We really have some great HGVC TUG members who all want to share their knowledge. So, feel free to ask questions. I would add that you didn't purchase the high prices from the developers, so that is good.
 

magmue

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What do you use the Tug membership for?
Even if the answer was "nothing in particular, I would consider the $15/year a good value just for providing the structure here for all of us to share information and advice about timeshares. There is a wealth of information here, freely given to everyone, including guests.

Members do have more value added - like detailed reviews of timeshare resorts. And free classified ads for in the Marketplace for selling, and exchanging. There is also a members-only forum where members post time sensitive high-value exchange options that are available on RCI or Interval International for a short period of time until someone snaps them up.
 
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