• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 31 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 31st anniversary: Happy 31st Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $23,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $23 Million dollars
  • Sign up to get the TUG Newsletter for free!

    Tens of thousands of subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

New Purchase...Need advice

I

ivoloutah

newbie
Joined
Oct 24, 2008
Messages
3
Reaction score
0
First I want to thank TUG and its members for this resource. I have learned a great deal from others here and feel I am much better off for it. I almost bought from a developer…Whew that was close….Then I found out about the resale option.

I have been researching the resale timeshare market for a while now and decided to finally bid on a EBAY auction. It was advertized as 92500 annual points at Vacation Village Parkway. I had already stayed a night in the complex, and I have decided that a points account would probably work best for me.

The closing costs were 399 plus 224 for a new RCI membership and transfer. I will pay the 2009 MX fees directly to the property. Everything looked good.

The seller’s feedback was good. Communication has been good so far. I won and received the contract via e-mail and they are now requesting payment via paypal.

A couple of questions have come up.

First, Is it normal to send the money to the selling party (Selling Time Guys) directly via paypall and then trust that the money
will be transferred to the closing company for escrow???

Second, the closing company they are using is called Elite Resort Transfers, LLC. I couldn’t find anything on them on TUG or BBB. I called and they claimed to be a “spin-off” of another company and have only been in business for 6 months. They claim to be bonded. How do I check these guys out?

And finally, here is the kicker. Someone at Selling Time Guys told me to set up my RCI account directly with RCI. The RCI rep didn’t have a clue what I was talking about and directed me to call the property (VVP). I called VVP and got a phone call back from a sales rep offering to convert the purchase in question to points for $4999. WHAT THE HECK!! It was my understanding that the conversion was already made but the sale rep said that it may have been but if the ownership changes hands then the conversion fee must be paid again. I asked if I sell it again in 5 years will the new owner also have to pay $4999 and she said yes. IS THIS TRUE or is someone trying to get one over on me…?

Thanks in advance.
 
Last edited:
Relax - Take a breath.

Your ok. Send the money and don't worry.

You'll get your timeshare and your RCI Points account just as described in the eBay listing. Vacation Village at Parkway will honor the points contract transfer both to you as the buyer this time and to the next buyer when you go to sell.

Don't listen to the in house representative. He's just trying to scare you away from a valid resale purchase and wouldn't mind stealing $5K from you in the process.

Good Luck

Sometimes it's tough to be a first time buyer.
 
When I bought (4) timeshares on ebay, I only sent a small deposit to the seller, and I sent most of the money to the escrow company. That's the whole point of using an escrow company and YOU are the one paying for it. If it's not too late, I'd tell them I want to pay into escrow. Otherwise, why pay for escrow at all?
 
Thanks for the replys so far. I'm carefully reading the contract they sent again. From the paypal invoice I recieved it looks like the paypal payment is supposed to go to
My Timeshare Rescue, LLC
at an email address that ends in @sellingtimeguys.com
From my phone conversation with a rep at Elite this is the company that Elite Resort Transfers LLC was spun off from.

So far it looks OK and I'm encouraged that you think it is legit. I hope I don't sound too worked up, I just want to make sure I don't have to learn something the hard way :)
 
ivoloutah said:
And finally, here is the kicker. Someone at Selling Time Guys told me to set up my RCI account directly with RCI. The RCI rep didn’t have a clue what I was talking about and directed me to call the property (VVP). I called VVP and got a phone call back from a sales rep offering to convert the purchase in question to points for $4999. WHAT THE HECK!! It was my understanding that the conversion was already made but the sale rep said that it may have been but if the ownership changes hands then the conversion fee must be paid again. I asked if I sell it again in 5 years will the new owner also have to pay $4999 and she said yes. IS THIS TRUE or is someone trying to get one over on me…?

Thanks in advance.
Click to expand...

If the week was already converted to RCI points, then when you buy from the current owner, all you should have to do is fill out the required paperwork with RCI to transfer the RCI points account to your name. You shouldn't have to go thru the resort at all.

BUT some resorts do what the rep from the resort said. Which is the resort doesn't allow the seller to buyer transfer of a RCI points account without paying to convert the week to points again. This is rare but it does happen. I don't have any idea how you can verify which is true in the case of your sale.


As an example of when the transfer will not happen is :

Wyndham resorts bought from the developer include a membership in RCI points. When you buy a resale that membership doesn't transfer to the new owner.
 
Last edited:
At all but a handfull of RCI Points resorts, at closing/transfer, you have the option to either transfer ownership in points or to revert to the underlying week. Just make sure thatthe closing company knows that you want it to transfer in Points. Then you can apply to open a Points account with RCI and you should be good to go. Don't think that VV is one of the weird companies that makes you pay a new conversionu fee. Probably just more sales rep garbage.
 
caribbean said:
At all but a handfull of RCI Points resorts, at closing/transfer, you have the option to either transfer ownership in points or to revert to the underlying week. Just make sure thatthe closing company knows that you want it to transfer in Points. Then you can apply to open a Points account with RCI and you should be good to go. Don't think that VV is one of the weird companies that makes you pay a new conversionu fee. Probably just more sales rep garbage.
Click to expand...

That's the plan. I'm just wondering if there is a way to verify this before I send the money in the next day or so. The RCI reps don't seem to know and I don't think I can trust what I hear from the VV property so far. The company I'm buying from could be telling me what I want to hear. I would love to see something in writing or hear from an uninterested third party what the truth is.
 
I suggest talking to the closing company since they are the ones that will be making the transfer.
 
You must log in or register to reply here.
Top