Hi,
I'm a new member here in this forum. I just signed up for the TUG today too. My friends and I went to FL last week and bought the Las Palmeras (LP) HGVC timeshare there. We paid about 24K for 2BR, 5,000 club points, about 1,500 MFs , and they give us 8,600 bonus points. After coming back, I found this site and read some articles and forums. Today, I just mailed out the letter of rescission with registered mail. I think I made the right decision but who knows. My friends are still thinking this is the good deal since the location is good and the suites are being built and will be finished next summer. They contacted the salesperson and below is the answer.
"It may be true that the resell is cheaper but could be with various reasons. The previous owner may not pay the maintenance fees for many years. With the resell site, new owners can only use HGVC resorts and cannot use HGV affiliates/partners such as RCI. In order for the new owner to use, he/she must pay about $5k-$6k to use the partners. HGV always buy back good units that hold value. The reasons HGV decides not to buy back may be due to older timeshare programs or units that owe too much maintenance fees or not an ideal locations. HGV uses the maintenance fees, reserve portions, to renovate rooms and furniture. Resell sites cannot convert club points to HHonor. If club points are not used, then you lose them. No blockout dates with HGV and can be used any weeks during the year. The contract may say week # but only for assigning the deed. The value of the new program has always been going up. The unit would hold its value and HGV would definitely buy back at FMV."
Can anyone please give me any advice? What should I do? Is there any better option? I like to stay with Hilton or HGVC.
Thank you in advance.
I'm a new member here in this forum. I just signed up for the TUG today too. My friends and I went to FL last week and bought the Las Palmeras (LP) HGVC timeshare there. We paid about 24K for 2BR, 5,000 club points, about 1,500 MFs , and they give us 8,600 bonus points. After coming back, I found this site and read some articles and forums. Today, I just mailed out the letter of rescission with registered mail. I think I made the right decision but who knows. My friends are still thinking this is the good deal since the location is good and the suites are being built and will be finished next summer. They contacted the salesperson and below is the answer.
"It may be true that the resell is cheaper but could be with various reasons. The previous owner may not pay the maintenance fees for many years. With the resell site, new owners can only use HGVC resorts and cannot use HGV affiliates/partners such as RCI. In order for the new owner to use, he/she must pay about $5k-$6k to use the partners. HGV always buy back good units that hold value. The reasons HGV decides not to buy back may be due to older timeshare programs or units that owe too much maintenance fees or not an ideal locations. HGV uses the maintenance fees, reserve portions, to renovate rooms and furniture. Resell sites cannot convert club points to HHonor. If club points are not used, then you lose them. No blockout dates with HGV and can be used any weeks during the year. The contract may say week # but only for assigning the deed. The value of the new program has always been going up. The unit would hold its value and HGV would definitely buy back at FMV."
Can anyone please give me any advice? What should I do? Is there any better option? I like to stay with Hilton or HGVC.
Thank you in advance.