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Just purchased a Welks Timeshare 7/14/13 [similar threads merged]

monterj

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Well it seems like a common theme here that new buyers have second thoughts, post on here if they should rescind, and everyone replies saying to rescind. There was even a nice enough person to post their rescind letter word for word so I can just copy and paste it on mine! Thank you internet, and thank you state of CA that I have 7 days to get out of this deal.

I purchased the 1 week/year 2 bd lockout villa for $20k. They kept saying they have the strongest trading power and with Interval Int. I can trade 2 weeks for my 1 very easily. Is this true?

Now here is where they got me. My wife and I were 50/50 and then the sales guy gives us 2 roundtrip tickets to Paris. We said yes, we were happy, but thank god I found this site.
 

Rent_Share

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TUGBrian

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$19,999 buys a heckuva lot nicer trip to paris....just sayin!
 

monterj

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Yes thanks for the slap in the face. I needed that. I've realized that these sales people are some of the best. They made me believe that I'd be paying $10/day for 6-star hotels for the rest of my life!
 

Rent_Share

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Perhaps you will get two weeks for one maintenance fee, There are plenty of resale weeks that will provide the same benefit.

http://www.ebay.com/sch/i.html?_odkw=week+Timeshare&_osacat=15897&_from=R40&_trksid=p2045573.m570.l1313.TR10.TRC0&_nkw=Welk&_sacat=15897


http://www.ebay.com/sch/Timeshares-for-Sale-/15897/i.html?_from=R40&_nkw=Welk&_in_kw=1&_ex_kw=&_sacat=15897&_okw=&_oexkw=&_adv=1&LH_Complete=1&_udlo=&_udhi=&_samilow=&_samihi=&_sadis=200&_fpos=&_fsct=&LH_SALE_CURRENCY=0&_sop=12&_dmd=1&_ipg=50


Some of them are higher than $1.00 the highest being $ 18,500 less than developer pricing. (Buyer is paying closing costs and transfer fees so a comparable price would be less than $ 1,000)

Didn't mean to be so abrupt, but you got here in time to save at least $15,000, have your timeshare and take your wife to Paris
 

mjm1

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The current arrangement between Welk Resorts and II does provide that you will receive an Accomodation Certificate (AC) when you deposit a unit into II. Not sure how long that arrangement is in place, but it has been that way for several years. However, you would get the same benefit by buying a resale unit.

We do like the quality of the Welk Resorts system and we converted to the points program a few years ago. Depending on how you plan to vacation you can do well with either the points program, buying a unit in Villas on the Green, or a fixed 2BR unit in the Welk Resort Villas.

Welk recently purchased a portion of a resort in Truckee (near the north shore of Lake Tahoe), so it will be intersting to see what they do with that.

Timesharing is great. Do a lot of research regarding the various systems and think about where and when you like to travel, how many people vacation with you, etc. and then find a great deal on the resale market.

Good luck.
 

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Advice please! 2bdrm villa at welk resort on 7/21/13

I just bought a 2bd room villa lock out for $30K. which includes 300,000 platinum points. i'm beginning to think i got ripped off. it was my first time ever attending a timeshare tour. Was my deal any good? I'm considering rescinding, but would like feedback from other timeshare owners. Thanks!
 

sjsharkie

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I just bought a 2bd room villa lock out for $30K. which includes 300,000 platinum points. i'm beginning to think i got ripped off. it was my first time ever attending a timeshare tour. Was my deal any good? I'm considering rescinding, but would like feedback from other timeshare owners. Thanks!
Of course you should rescind. See the responses to the OP -- what you bought sells for $1 resale (OK, sometimes a bit more but FAR LESS than what you paid). There is no way the 300K platinum points could ever make up for that.

Rescind now, do some research here and then determine where and when you want to buy resale at a fraction of the price.

-ryan
 

Saintsfanfl

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I just bought a 2bd room villa lock out for $30K. which includes 300,000 platinum points. i'm beginning to think i got ripped off. it was my first time ever attending a timeshare tour. Was my deal any good? I'm considering rescinding, but would like feedback from other timeshare owners. Thanks!
It is not so much that people get ripped off as it is there are alternatives and many times the same thing cost $1. If there wasn't a resale market there are some timeshare deals that are more attractive than a second home. But resale is the world we live in so there is never a need to pay $30k when you can have the same thing for $1.
 

KiwiL

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HELP! Just bought 2bdrm villa lock off on 7/14/13

This was my first time ever attending a timeshare presentation and i have to admit i was sold to the program. After purchasing the timeshare, i'm now doing some research and i'm not sure if what i paid is reasonable.

this was my package.

2bdroom lock off villa/300,000 Platinum points annual. for $30K, dropped down from $45K.

I still have a few days to rescind my contract and would like you feedback. Thanks!
 

sue1947

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I just bought a 2bd room villa lock out for $30K. which includes 300,000 platinum points. i'm beginning to think i got ripped off. it was my first time ever attending a timeshare tour. Was my deal any good? I'm considering rescinding, but would like feedback from other timeshare owners. Thanks!
Your rescission window is very short so do that now and then take the time to investigate. The same deal (or better, much better) will be there later, but the rescission option won't be.

Timeshare salesmen will say anything to make the sale. You need to doublecheck anything they told you. Do your research to determine if this is the timeshare for you and then buy resale and use the extra $29000 for other things.

Sue
 

TUGBrian

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nothing included with your sale is worth the $29,999 extra you just paid.
 

comicbookman

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This was my first time ever attending a timeshare presentation and i have to admit i was sold to the program. After purchasing the timeshare, i'm now doing some research and i'm not sure if what i paid is reasonable.

this was my package.

2bdroom lock off villa/300,000 Platinum points annual. for $30K, dropped down from $45K.

I still have a few days to rescind my contract and would like you feedback. Thanks!
I would suggest rescinding. (wish I had ) Then buy resale either from the TUG marketplace or e-bay after doing a lot of research here on TUG. You will save 10's of thousands of dollars.
 

rickandcindy23

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What resort and where is it? Is this Wyndham or Welk, or what?

Not that it matters because I would never pay that much for a timeshare, no matter what it was. Well, I might pay that much for 2,000,000 Wyndham points with Platinum status. ;)

Rescind and buy resale and save 90% or more.

Welcome to TUG.
 

Passepartout

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We suggest you rescind now. Learn about TS. If it turns out to be a good deal. You can always buy it again. We suspect you can find the same purchase for 10% or less of what you signed up for.

You only get one chance to rescind. Don't blow it.

All the best. We are glad you found TUG.

Jim
 

csxjohn

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.... for $30K, dropped down from $45K...
That $45K figure is only part of the lie you were fed. Had you kept saying no, the price would have come down further.

Rescind now as others have suggested then come back with details and many here will guide you in the right direction for buying that resort, or point you in a different direction completely.
 

Rent_Share

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Welcome, Congratulations - When the dust settles, become a member to get complete access to the site, spend some time and make the right purchase decision for pennies on the dollar.





Now that might be an interesting statistic, the cumulative dollars saved by people who found Tug in time to make an informed rescission decision.
 
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DeniseM

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TUGBrian

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Now that might be an interesting statistic, the cumulative dollars saved by people who found Tug in time to make an informed rescission decision.
are frequent enough to go in nearly every newsletter...it makes me smile =)
 

KiwiL

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What resort and where is it? Is this Wyndham or Welk, or what?

Not that it matters because I would never pay that much for a timeshare, no matter what it was. Well, I might pay that much for 2,000,000 Wyndham points with Platinum status. ;)

Rescind and buy resale and save 90% or more.

Welcome to TUG.
oops, i forgot to mention the resort name. its for welk in SD.
 

KiwiL

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That $45K figure is only part of the lie you were fed. Had you kept saying no, the price would have come down further.

Rescind now as others have suggested then come back with details and many here will guide you in the right direction for buying that resort, or point you in a different direction completely.
Thanks for the feedback. i will keep you guys posted.
 

mjm1

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Congratulations on rescinding. You aren't the first and won't be the last to buy during a presentation. Many, if not most, of the people on TUG bought directly from developers and overpaid. However, we learned our lessons well. If we bought more it was usually via resale. This was a good learning experience that you recovered from. It sounds like you like the timesharing concept, which is great, so now you just need to figure out how to benefit the most from what it offers.

Welk Resorts is a nice program, but you should definitely do more research to see what and where really works best for you and your family. TUG and the people here are great resources.

Happy hunting.
 

GTStone

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Several Thoughts on this

I'm astounded ( sort of ) at the prices.

I own on the SoCal coast. I have a 2 bedroom week 32 and just added a 1 bedroom ( same week ) for $ 9,000 resale. Before anyone submits that's not a good deal, I did my homework, and it was actually a very good deal. This is a property with an ocean view, beautifully maintained, very comfortable, and we are talking about a fixed summer ( highest season ) week. There are almost no units available on the independent market, and this is about as low a price as I've seen. We vacation here every year, and wanted the additional unit so our kids can now bring their families together ! ( Just pointing out how any decision should have some thinking behind it ).

For the person who wondered about trading value, I also have a floating week 2 bedroom I use for trading ( or sometimes stay at my home resort a second week ) It gets 68,500 points on RCI. I can usually take 2 or 3 vacations per year on that number of points, so trading can be quite good. You should be able to learn what the unit is worth on RCI, and then see what that will get you in trades. Don't look at the glossy catalog. Do an online search of whats available. Just because its in the book doesn't mean you will ever see it available. Of course, if the unit is a Weeks unit in RCI, you simply get to do a one for one trade.

Now to the relevant stuff regarding this post. I spent some time in Sedona at Los Abrigados last week. It costs us 18,500 points for a week, but we only stayed 3 nights. We were there 3 years ago and took the tour for some free train tickets. Of course we didn't buy but we heard lots of promises about how the new owner, Diamond International, was going to make sweeping changes. They even showed us a model of a refurbished unit. We didn't bother with the tour this time, but saw some people on it. They want in excess of $ 20,000 for their units, but you can buy resales for nearly nothing ( or just agree to take on the maintenance )! In addition, none of the promised changes have been made, and the rooms have not been refurbished. The rooms are still not good ( the kitchen area is unusable ) and the main pool was closed ( In the heat of the summer, leaving only the kids pool available). We can tell they are not doing well because the vacancy rate is high and services are very poor ( but the people at the desk always smile). Even so, the CEO of DI has a tape running all day long on the TV's ( default channel when you turn it on ) talking about how responsive they are, and all the improvements underway at their resorts. I felt sorry for the people on the sales tour because we know from experience these sales people are quite pushy. I hope they were only there to get free tickets to attractions.

So, my point in all of this is that not all places can be obtained for the $1 some people like to claim, but also most are not worth the prices the sales office would like you to pay. Nobody MAKES you buy anything, or enter into any transaction. My pat answer to a pushy sales person is "the more you try, the less likely I am to purchase what you offer. I'll go home, do some research, think about it, and get back to you." If they reply the deal is only good today, I respond, "Then your answer is a firm NO !"

Take your time, do your research, find out the current market price on the place where you want to go, and then make your decisions based only on what works for you. Also, for get all the promised extras. They are only worth the value of the paper used to print those certificates.
:banana::banana:
 
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taffy19

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I'm astounded ( sort of ) at the prices.

I own on the SoCal coast. I have a 2 bedroom week 32 and just added a 1 bedroom ( same week ) for $ 9,000 resale. Before anyone submits that's not a good deal, I did my homework, and it was actually a very good deal. This is a property with an ocean view, beautifully maintained, very comfortable, and we are talking about a fixed summer ( highest season ) week. There are almost no units available on the independent market, and this is about as low a price as I've seen. We vacation here every year, and wanted the additional unit so our kids can now bring their families together ! ( Just pointing out how any decision should have some thinking behind it ).
Where did you buy? I am curious where the fixed week/units are. It is on the coast but does that mean on the beach?

Good for you. :D
 
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