HGVC foreclosure costs and time frame [Merge Thread]

[knits1]

It is really just a trick to see if Hilton/Strand will take it. If they take it via ROFR, then they pay the seller. When a seller finds a buyer, creates a purchase agreement, and then starts the process, one of the first steps is ROFR. If HGV takes it via ROFR, then the seller gets paid but the buyer is out. If HGV doesn't take it, then the buyer gets it...either way, the seller gets rid of the deed. This is how it normally works with most HGV deed resales. What some are suggesting is that a "friend" make an offer, start the process, and then hope that HGV takes it via ROFR and you are set.

I don't have anybody that can do that. I assume, maybe, they turn down low offers because it shows their resorts as selling for low price.i had another resort in Williamsburg that I deeded back paying about 500 dollars. I really don't understand why Hilton is so difficult.

 

[knits1]

exactly what I was going to post. If it is Anderson Club and they do take a LOT of ROFR, you might as well get some $$ back. Reason you are not getting a free deed back is likely because Hilton can sell that property for the owner, but they can't be the owner themselves.

Use that to your benefit. You just need to find a willing participant to play along. don't get too greedy and have it backfire.

I be happy to be done with it. I'm paying the fees with no vacation to use it. I had so many points bank at RCI only using a quarter of them in Vegas for 4 days. Somebody had stated somewhere that Hilton boasted somewhere about their deed back program A...something something

 

[SmithOp]

I tried to give it back to them for free and they said I'm past the 10 day window and they don't do deed backs (or surrenders, but send another email saying in case I used wrong terminology that they can have it for free)

What we are discussing is not to contact the deed back department, they have already rejected the offer to give it back, but instead use the Right of First Refusal (ROFR) option.

We keep track of prices that HGV takes back contracts using ROFR, and Sandy has pointed out one was taken back by Strand for $1500. We are suggesting you write up a sale contract for $1500 (or less), submit it to HGV for ROFR approval, pay the $95 fee, and hope they take it. You as seller would get the $1500, you just need someone agree to be buyer. If it fails and they don't take it, the buyer can just back out. It's only going to cost you $95 to find out, it might work.

This is Strand Capital that owns these, HGV just manages the resort.

Your other option is to stop paying and force them to foreclose and take it back that way.

Good Luck!

 

[Sandy VDH]

I don't have anybody that can do that. I assume, maybe, they turn down low offers because it shows their resorts as selling for low price.i had another resort in Williamsburg that I deeded back paying about 500 dollars. I really don't understand why Hilton is so difficult.

I think the issue is Anderson Club not Hilton. Officially Hilton does not own Anderson club, they just operate it. So Hilton had NO choice, they can't take that property back as they down own it.

 

[knits1]

What we are discussing is not to contact the deed back department, they have already rejected the offer to give it back, but instead use the Right of First Refusal (ROFR) option.

We keep track of prices that HGV takes back contracts using ROFR, and Sandy has pointed out one was taken back by Strand for $1500. We are suggesting you write up a sale contract for $1500 (or less), submit it to HGV for ROFR approval, pay the $95 fee, and hope they take it. You as seller would get the $1500, you just need someone agree to be buyer. If it fails and the don't take it, the buyer can just back out. It's only going to cost you $95 to find out, it might work.

Good Luck!

I appreciate the info. But unfortunately I don't know anyone that is willing to take the risk of "fake buying" the resort. I assume if they don't turn it down, the person than has to take it because of the sales contract. Is that a contract that is on the hilton website? Or one that I write up? How can a seller back out? Has anyone done it?

 

[HuskerATL]

This is Strand Capital that owns these, HGV just manages the resort.

and that is why ROFR may work since Strand is the one to exercise the ROFR and then give it back to HGV to sell for them.

 

[knits1]

I think the issue is Anderson Club not Hilton. Officially Hilton does not own Anderson club, they just operate it. So Hilton had NO choice, they can't take that property back as they down own it.

Interesting. I read about them selling condos before I bought mine and before Hilton took it over. Makes me wonder if I should try to get a number and deal with them directly.

 

[HuskerATL]

Interesting. I read about them selling condos before I bought mine and before Hilton took it over. Makes me wonder if I should try to get a number and deal with them directly.

All the HGV SC properties are owned by the developer, Strand, and HGV just manages the properties for them. I am not sure contacting them directly would do anything because they would probably direct you to HGV, since they are paid to manage them for Strand. The exception is ROFR.

 

[SmithOp]

I appreciate the info. But unfortunately I don't know anyone that is willing to take the risk of "fake buying" the resort. I assume if they don't turn it down, the person than has to take it because of the sales contract. Is that a contract that is on the hilton website? Or one that I write up? How can a seller back out? Has anyone done it?

https://www.timeshareclosingsforless.com/images/purchase-agreement1.pdf

A sample contract you could use.

 

[knits1]

https://www.timeshareclosingsforless.com/images/purchase-agreement1.pdf

A sample contract you could use.

For some reason I can't save it. Will try on computer later. This way I have it if i ever have anyone interested in the near future. I will update everyone on my foreclosure since I have lost all hope that i can sell it or even try this. I wonder what criteria they use to turn these down.

 

[knits1]

I agree with the ROFR, but I would post it on the free timeshare section of this forum. HGVC still has some value and most likely someone will take it. The person will get the deed or it will be taken under ROFR. Either way you are rid of it.

I did, and got character assassinated and had people tell people not to buy it, although I'm giving it away. If i knew that was going to happen, it would have saved me the grief and upset and not posted it there. We mainly used the resort for great crusises and upgrates, also Hilton and RCI stays. I understand not everyone is looking to use them that way.

 

[dayooper]

I did, and got character assassinated and had people tell people not to buy it, although I'm giving it away. If i knew that was going to happen, it would have saved me the grief and upset and not posted it there. We mainly used the resort for great crusises and upgrates, also Hilton and RCI stays. I understand not everyone is looking to use them that way.

Sorry that happened and I know who you are talking about. That should not happen.

 

[knits1]

Sorry that happened and I know who you are talking about. That should not happen.

Thank you. My hubby is disabled vet, and at our age and history there are not many friends left , not alone someone I can ask to try this with. I didn't grow up here, or even in the US, so friend pool is tiny....lol. I also thought if I post in free, maybe someone was just looking to add to their points stash or to use it for the deals Hilton sends out. I'm amazed at some of the maintenance fees here, mine are much lower. So I thought...maybe.... still curious what the criteria is that Hilton uses to turn down contracts.

 

[knits1]

I agree that these companies that are all the same with different flavors of sales pitches; we have been to a number of the sales pitches already.

However, while we don't want to rid ourselves of our Misner Place Vacation Village Timeshare right now we have looked at our possibilities if we did. I just looked at he Marketplace on TUG and there are 5 Misner Place Timeshares being offered for no cost and one being offered for $1000. Many of the offerings are even agreeing to pay all the closing costs.

While I appreciate the TUG Marketplace and the fact that timeshares buyers can get great deals using it to pick up timeshares that they want to buy, the secondary marketplace for timeshares is a real BUYERS MARKET.

Therefore, when a timeshare owner no longer wants to use their timeshare and pay the maintenance and after trying to sell their timeshare on TUG and other websites what can one do other than just Stop Paying the Maintenance which will cause the remaining owners of that resort to pay more do to the maintenance delinquency of owners.

That is really the question that HGVC Deedback is postively answering and hopefully other timeshare developer/management companies will start to answer before there is a crisis in the industry with maintenance costs going sky high.

How is HGVC positively answering? Or do you mean they need to? I did a deed back on a different resort and paid, no problems, but still fighting with HGVC for deed back , surrender or whatever they want to call it. If they still don't, I'm planning to default. But they weren't clear about what fees I'm looking at. Only that they don't recommend (of course not) and that there would be fees involved if I did. Unfortunately they called and I didn't record vs them sending anything in writing as8de from they let me know within 30 days

 

[dayooper]

Thank you. My hubby is disabled vet, and at our age and history there are not many friends left , not alone someone I can ask to try this with. I didn't grow up here, or even in the US, so friend pool is tiny....lol. I also thought if I post in free, maybe someone was just looking to add to their points stash or to use it for the deals Hilton sends out. I'm amazed at some of the maintenance fees here, mine are much lower. So I thought...maybe.... still curious what the criteria is that Hilton uses to turn down contracts.

Technically, HGVC doesn’t hold the rights to your deed. All of the South Carolina deeds were developed by a group called Strand Capitol. HGVC manages the resorts and deeds are sold by HGVC for Strand. The deeds are required to be enrolled into the club, but Strand owns the ROFR and any deed backs.

 

[knits1]

these companies are all the same, with different flavors of sales pitches.

there is nothing an exit company can do for an owner they cannot do themselves.

Thank you, I need to screen shot this for hubby. He keeps trying to pressure me towards an exit company and I keep telling him it's a waste of time. They often say in small print that it's not guaranteed. I swear if he tells me one more time about that billboard on I 95 ...lol.

 

[knits1]

Technically, HGVC doesn’t hold the rights to your deed. All of the South Carolina deeds were developed by a group called Strand Capitol. HGVC manages the resorts and deeds are sold by HGVC for Strand. The deeds are required to be enrolled into the club, but Strand owns the ROFR and any deed backs.

I learned that today. I wondered if I shouldn't call them, and speak with them directly about surrendering the deed

 

[dayooper]

I learned that today. I wondered if I shouldn't call them, and speak with them directly about surrendering the deed

That might help. Don't call sales, though. They will only try to sell you more.

 

[CalGalTraveler]

@knits1 Since this is in S Carolina, I believe Strand as developer would have to deed it back. Therefore HGVC could not deed it back per their affiliate relationship with Strand. Strand may exercise ROFR if you give it away. But that does not affect you as seller.

 

[knits1]

@knits1 Since this is in S Carolina, I believe Strand as developer would have to deed it back. Therefore HGVC could not deed it back per their affiliate relationship with Strand. Strand may exercise ROFR if you give it away. But that does not affect you as seller.

I keep wondering if.i should figure out somebody there to contact about that

 

[knits1]

That might help. Don't call sales, though. They will only try to sell you more.

I have to figure out if I can get a contact person there. Yeah, when I called trying to do deed back I ended up in so many different departments. I also wondered if I do their Resale one more time, but put that I will pay someone to take it if they would step in. But that would be a big risk and drag this out even longer

 

[JONC777]

email resale@hgvc.com and ask about deedback options dont call them.

 

[alwysonvac]

They seem to be pushing owners to their resale department
One owner reported that they were told that they can pay $500 to list it on the resale market and it would take 18+ months to sell.
To me this is just a delay strategy to get owners to continue paying their fees.

Strand Capital Group developed the HGVC resorts in South Carolina.
Strand has been actively taking back their weeks via Right of First Refusal (ROFR). Just not sure if HGVC is working with Strand to take back weeks through their deedback process.

Please report back.

Just updating my Friday post ...
We received confirmation in this thread that HGVC was willing to take back a Strand week (see post #27 dated Feb 2, 2024 ).

 

[knits1]

email resale@hgvc.com and ask about deedback options dont call them.

Resale just sends you contract to have them list it on a broker site. One of the resale people gave me the attorney info that handles deed backs. They in turn send the info to the portfolio people who told me because I own it for more than 10 days, i don't qualify for deed back. So at this point I have send them their requirements for deed back and ask them why I don't qualify when it clearly shows I do and I want it in writing this time.

 

[knits1]

Just updating my Friday post ...
We received confirmation in this thread that HGVC was willing to take back a Strand week (see post #27 dated Feb 2, 2024 ).

I just wish I could figure out how they did it. I send them another email arguing with them....sigh