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Hilton Grand Vacations Default and Resale Purchase

CatherineS

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Aug 6, 2019
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HGVC
We attended a HGVC presentation earlier this year and purchased 3500 points every other year for $11,000. After doing some research online we learned that we had made a huge mistake.

Fast forward a few months and we are now closing on a better deal for twice the amount of points with a better season and at a nicer resort. For $400 instead of $11000 it was a no brainer. Hilton waived their right of first refusal and the only thing we are waiting for now is for our account to be set up.

The problem right now is that our original contract has a past due balance and a maintenance fee that hasn’t been paid. I have had this burning question and I probably should have looked into this before purchasing resale but since we aren’t able to use the points in our original contract due to the past due balance, would HGVC also place the same restrictions on our resale contract once it closes? I am sure they can put two and two together and figure out that we are the same people that defaulted on our original contract. The last thing I want is to have two contracts with points that I am unable to use and be forced to pay the maintenance fee and past due balance on my original contract anyway. Am I worrying over nothing?
 

SmithOp

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HGVC King's Land 2BR Premier 14.4K Points.
Oops, I dont think you are worrying over nothing. We usually advise people buying resale to title the deed with the same names as the existing HGVC account so they will join the contracts into the same account. In your case it would have been better not to do that.

If your account is frozen for non payment of dues it will affect all the contracts/points in the account.


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CatherineS

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Oops, I dont think you are worrying over nothing. We usually advise people buying resale to title the deed with the same names as the existing HGVC account so they will join the contracts into the same account. In your case it would have been better not to do that.

If your account is frozen for non payment of dues it will affect all the contracts/points in the account.


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We didn’t provide our member number on our new contract. I think we will have to pay the club fee again but it will be worth it if we can use our points.
 

CalGalTraveler

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Dec 21, 2014
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498
Location
California
Resorts Owned
HGVC, MVC Vistana
If they ever find out they will likely freeze your account, then you will have to backpay a lot of MF without getting to use the points. Why don't you pay up the account before MF get too out of hand and then sell it/give it away? Another option is to rent it out if it will cover MF until you can give it away.

If you have a loan, then hmm...not sure what to do. You may be stuck until you pay it off.
 
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CatherineS

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HGVC
If they ever find out they will likely freeze your account, then you will have to backpay a lot of MF without getting to use the points. Why don't you pay up the account before MF get too out of hand and then sell it/give it away? Another option is to rent it out if it will cover MF until you can give it away.

If you have a loan, then hmm...not sure what to do. You may be stuck until you pay it off.
The maintenance fee for our original contract is really high ($1400) and the points are not worth it. I might just have to lose the $400 + closing fees on the new contract and let our original contract foreclose and go to collections. If we purchase through resale after being sent to collections then they wouldn’t have a reason to freeze our points.
 

CalGalTraveler

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Well...you asked for our opinion. You don't care what defaulting will do to your credit score? This could affect your ability to buy a house/refinance, insurance rates, credit cards.

IMHO...I would just pay it off and give it away on TUG if it is paid for rather than dealing with collections and credit score drop. Alternatively see if HGVC will take a deedback (however they will expect you to be current.) Expensive lesson. However if you were willing to drop $11,000 to buy this in the first place you can certainly afford $1400 to pay it off. You could then use the points as an enticement for someone to take it off of your hands.
 
Last edited:

RX8

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Grand Pacific Palisades (HGVC) and DVC (VGC)
I don’t think any one knows for sure whether or not HGVC scans recent foreclosures against new transfers (names and addresses). They have the right to refuse a transfer if they choose to do so.
 

RX8

TUG Member
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Messages
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2,557
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Location
CO
Resorts Owned
Grand Pacific Palisades (HGVC) and DVC (VGC)
We attended a HGVC presentation earlier this year and purchased 3500 points every other year for $11,000. After doing some research online we learned that we had made a huge mistake.

Fast forward a few months and we are now closing on a better deal for twice the amount of points with a better season and at a nicer resort. For $400 instead of $11000 it was a no brainer. Hilton waived their right of first refusal and the only thing we are waiting for now is for our account to be set up.

The problem right now is that our original contract has a past due balance and a maintenance fee that hasn’t been paid. I have had this burning question and I probably should have looked into this before purchasing resale but since we aren’t able to use the points in our original contract due to the past due balance, would HGVC also place the same restrictions on our resale contract once it closes? I am sure they can put two and two together and figure out that we are the same people that defaulted on our original contract. The last thing I want is to have two contracts with points that I am unable to use and be forced to pay the maintenance fee and past due balance on my original contract anyway. Am I worrying over nothing?
7,000 points for $400? That is a great price. Care to share some details?
 

CatherineS

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HGVC
7,000 points for $400? That is a great price. Care to share some details?
I should have specified. When I said twice the amount of points I meant that instead of 3500 every other year, it was 3500 every year. I found the listing on Redweek and had a good experience. It was Elara/Gold/3500 points every year. Sadly I will not go through with it because of the high risk of the points being frozen upon transfer.
 

SmithOp

TUG Member
Joined
Jun 17, 2010
Messages
6,491
Reaction score
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Points
499
Location
Huntington Beach, CA
Resorts Owned
HGVC King's Land 2BR Premier 14.4K Points.
We didn’t provide our member number on our new contract. I think we will have to pay the club fee again but it will be worth it if we can use our points.
I didn't provide my member number when I purchased resale, they matched up my name/address from the recorded deed and added it to my existing account.

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