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My Timeshare Adventure

istone

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My inlaws recieved/"won" :hysterical: a cruise which came with the standard timeshare presentation to Orlando and the Bahamas. They paid a little extra for us to tag along. We had been considering buying into the timeshare lifestyle and with my job and excess vacation hours thought it might be the time to buy. I did weeks of research on resales and costs before we left. Knew we would buy in Orlando because we will go there most often, driving distance and parks. We occasionally go to Vegas as well.

Once we were down in Orlando and found out for which resort we would be touring I spent a little more time looking into specifics. Arming myself with knowledge and saving favorites to put in my arsenol to fend off any sales tactics.

I was actually surprised. Eventhough we were initially all shoved into a single room untile the salesperson grabbed us the experiance wasn't too bad. We drove a few blocks away where we were fed breakfast. This is where the salesperson was gathering info on us. Sat through the 15 min group meeting. Shown the unit. Then taken to the big room where the real action takes place. There was no high pressure as it appears the sales people are not fully on commission. When I plain straight up asked him of why I should buy from him instead of resale he brought in another person. I was told that their company buys up resales because they tend to bring the market value on their properties down, not sure if fully true or not. Also was told that if you do buy resale, the floating week then becomes fixed (we wanted flexability). He also had a list of foreclosures that they were trying to get rid of.

We ended up buying a 2 bedroom biannual from Vacation Village at Parkway off of their foreclosure list for 11k. Also included are a bonus week every year as long as we keep RCI membership.

Why I did it? I was looking to start small and a biannual keeps prices down while getting me into RCI for getaways. The Bonus Weeks will be used for our normal vacations every year. I have gotten tired of spending nights in cheap hotels, after we got back from the cruise we spent 2 nights in Westgate Palace while going to Universal Orlando and loved it there.



side question: We plan to go to Vegas in Sept from the 18th - 24th. I was told that I can use a bonus week from the Wed-Tues. Is that correct?
 

natasha5687

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My inlaws recieved/"won" :hysterical: a cruise which came with the standard timeshare presentation to Orlando and the Bahamas. They paid a little extra for us to tag along. We had been considering buying into the timeshare lifestyle and with my job and excess vacation hours thought it might be the time to buy. I did weeks of research on resales and costs before we left. Knew we would buy in Orlando because we will go there most often, driving distance and parks. We occasionally go to Vegas as well.

Once we were down in Orlando and found out for which resort we would be touring I spent a little more time looking into specifics. Arming myself with knowledge and saving favorites to put in my arsenol to fend off any sales tactics.

I was actually surprised. Eventhough we were initially all shoved into a single room untile the salesperson grabbed us the experiance wasn't too bad. We drove a few blocks away where we were fed breakfast. This is where the salesperson was gathering info on us. Sat through the 15 min group meeting. Shown the unit. Then taken to the big room where the real action takes place. There was no high pressure as it appears the sales people are not fully on commission. When I plain straight up asked him of why I should buy from him instead of resale he brought in another person. I was told that their company buys up resales because they tend to bring the market value on their properties down, not sure if fully true or not. Also was told that if you do buy resale, the floating week then becomes fixed (we wanted flexability). He also had a list of foreclosures that they were trying to get rid of.

We ended up buying a 2 bedroom biannual from Vacation Village at Parkway off of their foreclosure list for 11k. Also included are a bonus week every year as long as we keep RCI membership.

Why I did it? I was looking to start small and a biannual keeps prices down while getting me into RCI for getaways. The Bonus Weeks will be used for our normal vacations every year. I have gotten tired of spending nights in cheap hotels, after we got back from the cruise we spent 2 nights in Westgate Palace while going to Universal Orlando and loved it there.



side question: We plan to go to Vegas in Sept from the 18th - 24th. I was told that I can use a bonus week from the Wed-Tues. Is that correct?
If you can rescind please do so. 11K was at least 10.5k to much (if you factor in closing). You can find a much better deal. I just saw a week 51 VV@P go for $300 on Red Week. A bonus week will depend on availability.
 

Rascalsmom

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Check ebay and you will see Vacation Village at Parkway weeks for $1.00...

You should rescind if possible and do some more research.
 

istone

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The reason I decided to do it was the fact that I need the floating week. I know I could have bought resale for much less. But then I do not get the yearly bonus weeks and am stuck with a fixed week unless I exchange it.


The bonus week for Sept in Vegas should be on a non-peak weeks. I just need to find out if I can get the Wed checkin or if they only do fri, sat, or sun checkins?
 

AwayWeGo

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[triennial - points]
Resale Owners Also Get Bonus Weeks.

The reason I decided to do it was the fact that I need the floating week. I know I could have bought resale for much less. But then I do not get the yearly bonus weeks and am stuck with a fixed week unless I exchange it.
Our Vacation Village At Parkway 2BR triennial points unit was approximately $200 via eBay, with free closing & free resort transfer & free points (i.e., paid ahead maintenance fees with the old owner's points transferring to us). We paid the eBay bid amount + RCI Points transfer fee.

We get a Vacation Village At Parkway RCI bonus week certificate same as all other owners, resale or full-freight mox nix.

Get out of your full-freight foreclosure if you still can. They buy something else exactly the same, or the equivalent, or something even better via eBay.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

brigechols

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The reason I decided to do it was the fact that I need the floating week. I know I could have bought resale for much less. But then I do not get the yearly bonus weeks and am stuck with a fixed week unless I exchange it.


The bonus week for Sept in Vegas should be on a non-peak weeks. I just need to find out if I can get the Wed checkin or if they only do fri, sat, or sun checkins?
Please accept the advice given by previous posters and rescind. You can get the floating week for a lot less than 11K on the resale market. The bonus week is subject to availability and is available to resale buyers. For the money you save by rescinding, you can book two consecutive RCI endless vacations to provide you with a Wednesday check-in.
 
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Rent_Share

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Rescind and fully research the floating week LIE



You can always re-buy retail, you only have a few days to rescind.

If it's Westgate you have been lied to by the most dishonest in the industry
 
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istone

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so to be clear ....


1. I buy resale and the weeks can still be floating?

2. Bonus weeks are a perk through RCI and not the developer?

3. If I buy resale now there is still time to use a bonus week in Sept in Vegas (not concerned where as long as near the strip)?
 

theo

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Rescind NOW!

<snip> We ended up buying a 2 bedroom biannual from Vacation Village at Parkway off of their foreclosure list for 11k.
First off, biannual is twice per year. What you bought is actually biennial, which is every other year.
The two words are not the same.

Second, you paid about $10,999.50 more than this week is worth. You still have time to reverse this error so find your contract rescission instructions and rescind now! :eek:
 

Rent_Share

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First off, biannual is twice per year. What you bought is actually biennial, which is every other year.
The two words are not the same.

Second, you paid about $10,999.50 more than this week is worth. You still have time to reverse this error so find your contract rescission instructions and rescind now! :eek:
And purchase anything but Wastegate
 
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Passepartout

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so to be clear ....


1. I buy resale and the weeks can still be floating?

2. Bonus weeks are a perk through RCI and not the developer?

3. If I buy resale now there is still time to use a bonus week in Sept in Vegas (not concerned where as long as near the strip)?
1) YES!!!

2) YES!!!

3) possible, but given the time it takes to complete the transfer and setting up an RCI account, you might have to dip into the $10,999 you will save to rent a week from a TUGger.
For this year anyway.

Good luck, please rescind, and welcome to TUG.

Jim
 

istone

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The timeshare was at vacation village at parkway. Westgate Palace is just where we stayed for 2 nights. I wouldn't consider owning there but it was sure a nice place to visit even though they were painting.
 

AwayWeGo

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[triennial - points]
Biennial Words Are Semi-Confusing.

First off, biannual is twice per year. What you bought is actually biennial, which is every other year.
The two words are not the same.
Biennial means every 2 years.

I'm not sure biannual is a word at all.

The word that means twice a year is semiannual -- i.e., once every semi-year.

So it goes.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​
 

theo

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Semantics...

Biennial means every 2 years.

I'm not sure biannual is a word at all.

The word that means twice a year is semiannual -- i.e., once every semi-year.

So it goes.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​
In my 1997 Webster's Dictionary, the (non-word) biannual is defined as "occurring twice a year; semiannual" --- but I may just have a misprinted edition... :D

I guess it's a very subtle distinction, admittedly lost upon me, how "happening every other year" and "happening every two years" might actually be different, but that's fine... ;)
 

Rent_Share

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so to be clear ....


1. I buy resale and the weeks can still be floating?

2. Bonus weeks are a perk through RCI and not the developer?

3. If I buy resale now there is still time to use a bonus week in Sept in Vegas (not concerned where as long as near the strip)?

IMHO September is the second hottest month in Las Vegas, behind August

If you can't get the bonus week the maximum you will pay is $ 700 Your savings are still in excess of $ 10,000
 

Rent_Share

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1) YES!!!

2) YES!!!

3) possible, but given the time it takes to complete the transfer and setting up an RCI account, you might have to dip into the $10,999 you will save to rent a week from a TUGger.
For this year anyway.

Good luck, please rescind, and welcome to TUG.

Jim
1 - I am not seeing any results in ebay for floating units at this property

But I would state my reputation on the ability to find a 2 Bedroom Lock-Off Biennial in Orlando for a fraction (<$ 500 ) of $ 11,000
 
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natasha5687

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Even if it didnt float, these units get pretty good TPU's if you lock them out. There are a few weeks that get more than others but fairly consitient 40-60 TPU if you lock off and deposit. Heck there is a VV@P out there right now listed at $999 and it gets 100 TPU's for around $800 in MF's yearly. I see an EOY week 35 at $500. Interestinly enough it seems the EOY MF's are $599 per year making for a total of about $1200 per use year. With a week that has that many TPU's she wouldnt need a float at all she would have way more than enough TPU's to book anything she wanted.
 

istone

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Does a week 23 at VV@P have good TPU? Is there any way a non-RCI member can see how much trading power a unit/week has?
 

ronparise

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I didn't think VV@P had floating weeks at all. I think the salesman was selling RCI points. In any case ill second what the previous poster said

I own an every three yr fixed week A November week that I split and deposit as two one bedrooms. I got 40 tpu. I routinely trade back in for 5-8 tpu. So in 3 years I get at least 5 weeks. I pay an exchange fee each time but it still works out to less than $350 a week and for another $125 I can bring my dogs

Absolutely rescind. The flexibility is still there with fixed weeks and RCI
 

natasha5687

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Does a week 23 at VV@P have good TPU? Is there any way a non-RCI member can see how much trading power a unit/week has?
A non RCI memeber cannot look to see trade value. I did check using my own account and you get 24 TPU's per side for a total of 48 TPU's. Trade power goes down the closer you get to check in so for 2013 if you deposited today you would only get 11 TPU per side. As long as you deposit before the 9 month mark if I am not mistaken you get full credit. Also note that at $599 per year MF's or $1200 per usage you average cost per TPU is around $25 each. Good is considered by many to be $10 or less per TPU.
 
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tschwa2

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A few in S and VA, a single resort in NC, MD, PA, and UT, plus Jamaica and the Bahamas
so to be clear ....


1. I buy resale and the weeks can still be floating?

2. Bonus weeks are a perk through RCI and not the developer?

3. If I buy resale now there is still time to use a bonus week in Sept in Vegas (not concerned where as long as near the strip)?
The bonus week is a little different than extra vacations and a little cheaper. It still requires a $199 (current price) exchange fee and I believe you can only book what is available within 45 days and not everything available at 45 days qualifies for a bonus. I bought (resale) at an affiliate resort and even though I am not entitled to a yearly bonus (or two) they sometimes add one to my account anyway. I would value the bonus week at about $50-$100 per year depending on where and when you are traveling vs using a last call rental price through RCI.

There is also an RCI internal trade option into all the vacation village affiliates that has trades costing $139 plus the required tpu's. During much of the year you can trade back in for less than 10 tpu's plus the $139 exchange fee. High season may cost more so I wouldn't always assume you only need 6-7 but if you are flexible that option exists.


Over a 10 year ownership even if you take advantage of everything you get with a developer purchase vs resale I can't imagine the savings coming to more than $1000 total. If you live near the resort and can use the pool and facilities on a regular basis when not staying it might be worth another $1000 but that doesn't sound like it would be the case for you.


Some resales are in points and some are in weeks and both have advantages and disadvantages. You really need to understand both before you commit to one or the other because the fee structures are a little different and the underlying week may be more important to a non points resort.

Also depending on where you live and where you want to travel other affiliates might work better for you.
 
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natasha5687

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istone

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There is a week 23 on ebay for basically free which is 48 TPU. For $500 on TUG which is 64 TPU on the week 25. Is it worth the 16 TPU to spend the $500?

I'm not really sure I even need all those TPU. What does 16 TPU get a person. How many TPU does it take to get a week in Vegas in mid Sept?

Thanks for all your help. I will be drafting the paperwork to rescind tonight and I know I have 10 days from the signing date which was last monday so I should be good there.
 

AwayWeGo

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[triennial - points]
Having A Dictionary Is An Advantage.

In my 1997 Webster's Dictionary, the (non-word) biannual is defined as "occurring twice a year; semiannual" --- but I may just have a misprinted edition.
I seriously doubt your dictionary is misprinted.

Then again, I'm not sure I can even find my Funk & Wagnalls any more, so any kind of dictionary you have at hand is an advantage over me.

Biennial & semiannual just happen to stick because an old boss was was very particular about those & expected us to remember. Biannual was not in the boss's mix.

In any case, the similarity of biannual & biennial, it seems to me, makes them more easily confused than biennial & semiannual. (Just saying.)

So it goes.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​
 
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timeos2

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so to be clear ....


1. I buy resale and the weeks can still be floating?
Yes. What you are deeded (fixed or float) is what you get resale or retail. RCI Points may be required for "float" as the underlying property is fixed there I believe. That shouldn't be a problem.

2. Bonus weeks are a perk through RCI and not the developer?
Yes. Once you are an RCI member (resale or retail) you can get these and other great discounted stays that do not require a deposit.

3. If I buy resale now there is still time to use a bonus week in Sept in Vegas (not concerned where as long as near the strip)?
Most likely. September is not a high demand time in LV. Plus they have TONS of available inventory nearly year round.

Rescind, buy a resale and use the savings to fund your next 8-10 years of timeshare enjoyment. $11K is WAY too much for Vacation Village. Bu you are doing the right thing by asking & shopping. Now don't ignore the advice here & rescind that retail purchase. We'll help you find a better resale - promise!
 
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