DIamond is trying to snuff out the competition. They charge owners $1000 to exit.
It is troubling that Developers/Holders are charging owners to exit. It’s that kind of business practice that creates the devastating feeling of being trapped. I signed a contract after hearing and reading how wonderful these properties and benefits were. But feel trapped into something shady when all of a sudden I cannot give away or resale a unit because of new barriers to resale the company put into place.
People feel desperate to get out, so they pay exit companies. Sometimes, like in a major fiscal downturn, you just need to cut your losses, so the time it takes to find a buyer or even to give something away - to smart owners like on TUG who know about value/MFs and cost to own - it’s nearly impossible or takes more time. Let’s face it, the exit companies use the same script as the Developers that caught the majority of us in the first place.
I’ve been watching the Bargain Forum and it is amazing the units available for give away that were touted as “good traders” or “really nice resorts” (we’re talking of the majors: VSN, MVC, HGVC) just a year ago and would have been snapped up within seconds, are now just “sitting”.
HGVC is also manufacturing fees for exiting. Oh, it seems less cruel than Diamond - because the charge is not to the owners, per se, it it to the purchasers of resale weeks. The fees to acquire a resale unit and get into the club are just under $700, tack on the estoppel fee and it is over $700 easy. Add to that increasing MFs and Club Fees - it is a hurdle to give a HGVC unit away these days. Those who do not feel the trap today, if they pay attention, are still seeing a trap closing.
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