Interested in Selling My Holiday Inn Club Properties

[okbassplayerguy]

Recently, my wife has become unable to travel, so I am considering selling our two properties we own through Holiday Inn Club Vacations.


Any opinions on the best way to go about this would be appreciated.

Thanks

 

[jp10558]

See: https://tugbbs.com/forums/threads/restrictions-placed-on-non-club-resale-points-for-hicv.333020/ for the potential resale restrictions. I'm not sure if there are more than one HICV properties in Myrtle Beach, so that may be a little interesting for resale owners. But if Fox River isn't in Gaitlinburg or Lake Geneva, then that's basically worthless and would be extremely difficult for anyone buying it from you to use.

Given that, you probably would find it a bit difficult to sell these, and IDK the market for even the mandatory resorts listed in that thread. HICV seems to want to make resale near impossible because the resale is so limited as to be unusable. So no one in the know would buy something they basically can't use.

You might be able to give the one away here in the free timeshares forum of TUG. Otherwise you might have to look into deedbacks to HICV or defaulting on the MFs till they forclose.

 

[LannyPC]

Have you read this sticky:

https://tugbbs.com/forums/threads/how-to-sell-your-timeshare-and-avoid-getting-scammed.44/

 

[okbassplayerguy]

See: https://tugbbs.com/forums/threads/restrictions-placed-on-non-club-resale-points-for-hicv.333020/ for the potential resale restrictions. I'm not sure if there are more than one HICV properties in Myrtle Beach, so that may be a little interesting for resale owners. But if Fox River isn't in Gaitlinburg or Lake Geneva, then that's basically worthless and would be extremely difficult for anyone buying it from you to use.

Given that, you probably would find it a bit difficult to sell these, and IDK the market for even the mandatory resorts listed in that thread. HICV seems to want to make resale near impossible because the resale is so limited as to be unusable. So no one in the know would buy something they basically can't use.

You might be able to give the one away here in the free timeshares forum of TUG. Otherwise you might have to look into deedbacks to HICV or defaulting on the MFs till they forclose.

When I bought the additional points (that were deeded at Fox River), I've always been able to add them to my existing MB points, to get 108,000 points. It's never been a hardship up to now.

 

[TUGBrian]

How to get rid of your unwanted Holiday Inn Club Vacations timeshare points

Learn effective strategies to exit your unwanted Holiday Inn Club Vacations timeshare ownership. Explore options for resale, transfer, and cancellation for owners

tug2.net

 

[jp10558]

When I bought the additional points (that were deeded at Fox River), I've always been able to add them to my existing MB points, to get 108,000 points. It's never been a hardship up to now.

Yes, but I'm assuming you bought them from the developer. Did you get them resale from another person online?

 

[BinaryHackerMan]

I’m also an owner with developer points at Fox River, I’m also actually contemplating buying resale points just so I can see first hand how the whole thing actually works and document it here for others.

I’m interested in at least discussing it with you as you seem to have two deeds MB (one of the 3 “mandatory” resorts) and Fox River which would give me three of the four point “classes”

Developer non mandatory
Resale non mandatory
Resale mandatory

I’m willing to cover the closing costs to get you out of it at a minimum.

 

[DrQ]

Fox River is being shut down and the property being sold. How is your contract structured? Is it Weeks or a Points Land Trust?

If you do nothing, it is just going to disappear.

Edit:
I just saw that you are a points club member. That probably puts you in a OLCC Land Trust. Were you notified of the pending closure of Fox River? As a Silverleaf Weeks member who is also an OLCC points member, I had to transfer my Week into the new Silverleaf Land Trust, but IDK what they are going to do with OLCC Land Trust owners who's home resort is being closed.

 

[BinaryHackerMan]

Fox River is being shut down and the property being sold. How is your contract structured? Is it Weeks or a Points Land Trust?

If you do nothing, it is just going to disappear.

Edit:
I just saw that you are a points club member. That probably puts you in a OLCC Land Trust. Were you notified of the pending closure of Fox River? As a Silverleaf Weeks member who is also an OLCC points member, I had to transfer my Week into the new Silverleaf Land Trust, but IDK what they are going to do with OLCC Land Trust owners who's home resort is being closed.

Hindsight is always 20/20 as they say… at my sales presentation they said the access resort was really just a formality and gave you a few more months window to book at that property but had no bearing on my ownership (which seems true enough, at least until my ownership hits the secondary market of if I ever go that route).

I really do need to dig out my deed and all the paperwork and re-read it with a fine tooth comb (after the end of the year when I’m out of school )

The thing that really miffed me and started me on this whole journey is that I had the week of Christmas booked at Fox River (close enough to some family) and they alerted me about the Silverleaf project, that the proxy votes received looked like the measure to close would pass, and that the unit I booked was affected. I have seen some of the Solverleaf documents on the HICV site (that were linked from somewhere but I cannot find at the moment) and it looked like Fox River was being reduced but not eliminated entirely. If it is I expect even as an OLCC Trust deeded owner I would expect some contact to pick a new access resort but I’m going to call them to check and will update.

Piecing together how this all works currently it seems like we actually get a deed to a week at a specific unit but that the ownership interest there is intrinsically linked to some number of trust points. That if we resell (instead of just deed back) that link to trust points desolves and the buyer of our interest is stuck with the underlying deed which is “unit x in week y at resort z”

I’m trying really hard to keep in mind that I wasn’t scammed, I bought what I currently have doing the value calculations based on using the timeshare and that it’s basically pre-paid vacation lodging for my lifetime (plus yearly MF), not buying it for investment. I’m just upset they can unilaterally decide things, I was not consulted about Fox River, possibly because I thought in after the acquisition and was just assigned there and this didnt actually get a vote (though I’m sure that was all buried in the contract I signed, it’s just shitty and not helping them beat the alligations)

If Fox River is facing underutilization and they are ‘rightsizing’ it (as I recall they are closing about half the property) that makes sense that new purchasers were assigned there to help with the MF cost and possibly in an attempt to drive occupancy by giving people early access there. I need to see if I can find that document again because if they are closing ~half the resort I expect the maintenance fees to be reduced as well.

 

[DrQ]

I’m trying really hard to keep in mind that I wasn’t scammed, I bought what I currently have doing the value calculations based on using the timeshare and that it’s basically pre-paid vacation lodging for my lifetime (plus yearly MF), not buying it for investment.

This is a good attitude. Up until we bought into timeshares, we mainly "staycationed" or visited close relatives for holidays which is just another form of stress.

AT (After timeshare) we actually took time to ourselves. Silverleaf worked out great for us as we live in Dallas TX and our parents lived in Aurora IL. We had Endless Escapes (EE), so we could book a week at Fox River for the actual visit and use EE to book a day or two at Holiday Hills in Branson on the way up and back to stay instead of a motel. My DW's siblings always bad-mouthed us because we were "too good" to stay at the house and had the timeshare. They were just jealous, as we had a place to go an decompress and destress.

Both sets of parents have now passed, so we no longer make that trek.

The thing that really miffed me and started me on this whole journey is that I had the week of Christmas booked at Fox River (close enough to some family) and they alerted me about the Silverleaf project, that the proxy votes received looked like the measure to close would pass, and that the unit I booked was affected. I have seen some of the Solverleaf documents on the HICV site (that were linked from somewhere but I cannot find at the moment) and it looked like Fox River was being reduced but not eliminated entirely. If it is I expect even as an OLCC Trust deeded owner I would expect some contact to pick a new access resort but I’m going to call them to check and will update.

If they don't close it but shift it from the "Silverleaf" pocket to the OLCC pocket, I could see a huge lawsuit from the former Silverleaf owners who were forced out. For me, it doesn't make a difference as we own both Land Trusts.

 

[BinaryHackerMan]

Today I spoke with someone from the number listed on the Silverleaf project page and they confirmed FRR is closing entirely.