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New to TUG - Wish I had found earlier

Brian_F

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Hello All - I just purchased HGVC Oceans 22 in Myrtle Beach, 3,400 EOY pts, ~$16K out the door, HOA ~$850 EOY. I am not going to ask for any critiques of the deal because I already can see this is terrible. Luckily I am still in the 5 day window. The only issue I have is that Sunday is one of the days and Monday the 31st is the 5th day. I hope the PO is open so I can get a certified mail post mark.

Anyway, I am looking for some advise about where to find a good re-sale broker. I contacted someone and he seemed really good, sent me some number for the same property that amounted to < $2 per point? How can I determine if the broker is legit?
 

Passepartout

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The post office will be open the 31st. Just be sure to get your rescission.letter postmarked that day!

Check TUGs approved businesses. There are some TUG members who are brokers and have experience with HGVC and getting resales through ROFR.

We are glad you found us in time to save yourself some serious cash.

Jim
 

tombanjo

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hi - glad you found this site in time to rescind. You may want to spend some time reading the ins and outs of timeshare ownership before committing. Search timeshares on eBay to get a view on what some Oceans 22 sales are like. Search the name of the broker here to see if there are reviews of that particular company or person. There is a marketplace here as well. There are a few posts on recommended brokers, people who have history or are active here. I am not really familiar with Oceans 22, but I'd think $2 a point is a bit expensive. Depending on your idea on how to use vacation time, yearly for more points in platinum season might make more sense. People look at cost per point in MF, check out posts here https://tugbbs.com/forums/index.php?forums/hilton-grand-vacations-club-hgvc.52/

Hilton also has right of first refusal, meaning a low offer might not pass their process and be taken by them. However, there is no shortage of people selling and once you figure out what you want, make offers until one sticks.

Good luck. Take your time, maintenance fees are a constant recurring expense, so take time upfront to consider the right purchase point for your situation, and then enjoy.
 

AwayWeGo

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[triennial - points]
For resale timeshares, we go eBay all the way -- bought several via eBay on-line auctions.

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

Brian_F

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Awesome!! Thanks all for the quick response! I went to the presentation with zero intention to purchase so I did no research. I did ask if the was a market for resale of HGVC points and was told no because Hilton buys them back to keep value high. Obviously that was a partial truth.

One other question I had, they told me I was getting some benefits by signing on the day of the presentation - Concierge service, 8,000 bonus points, something called cash for condos. Any idea what that's about and if any owner has that benefit? Basically it was explained as deep discounts on Hilton Club condos. So if you run out of points or non-members are traveling with you. The other was silver status in Hilton Honors.

Other than the bonus points is any of this of any value?
 

Passepartout

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No meaningful benefits are 'Today Only.' there are a few $hundred$ of value in bonus weeks and other perks, but the RCI Last Calls (cash stays inside 30-45 days) are included in EVERY RCI membership. Sayed and Seth Nock are experienced in getting resales through ROFR.

All salesweasels stories have a kernel of fact, but they embellish that beyond recognition.

Jim
 

AwayWeGo

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Their claim that they buy back to keep the value high is bunk.

Say you own 1 & decide to sell. You find a willing buyer, so you're all set as soon as the timeshare company exercises or waives its right to buy at the price you & the buyer agreed to. The company decides the agreed price is too low, so it buys your timeshare out from under the willing buyer, at the price the willing buyer agreed to pay. Does that prop up the value? Nope. You don't get 1 dime more than the low price the willing buyer had agreed to pay. Your timeshare still sold low, but only the timeshare company got to buy it low.

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

Panina

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Welcome to Tug. I believe you saved yourself at least $15,000 if you buy equivalent in resale. FYI, my 3500 point week and my 4800 point week I got for free. They were affiliates so there was no rofr. They are also weeks I intend to go to more then not. If you have no interest in using a home resort then you should get a higher point value.

Spend some time learning all about hgvc here on tug. You might even find one here that a tugger will be giving away, that’s how I got one. I also gave one away.

Please consider becoming an official member, it only costs $15 and helps support this site.
 

dayooper

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Hi @Brian_F Congrats on saving a bunch of money! HGVC is a great system that, except for the sales weasels, treats their members very well, even resale purchasers. As a matter of fact, you have almost the same rights and privileges as one that purchased from a developer. The only difference is you can’t get elite status buying resale, and most feel that’s no big deal.

When you start looking at resale, make sure you know what you are looking for. If you want to travel to different resorts, look at the MF’s. @GT75 has a great spreadsheet in the stickies in the HGVC forums (a great resource). If there is a place you want to go to that’s hard to book (SW Florida prime weeks, ski weeks, prime weeks in Hawaii) buy there. Like @Panina says, become a member of Tug.
 

Brian_F

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Welcome to Tug. I believe you saved yourself at least $15,000 if you buy equivalent in resale. FYI, my 3500 point week and my 4800 point week I got for free. They were affiliates so there was no rofr. They are also weeks I intend to go to more then not. If you have no interest in using a home resort then you should get a higher point value.

Spend some time learning all about hgvc here on tug. You might even find one here that a tugger will be giving away, that’s how I got one. I also gave one away.

Please consider becoming an official member, it only costs $15 and helps support this site.
Yea, I don't care about a home resort, in fact I don't like Myrtle Beach, that's just where I got suckered in for a really cheap few nights at the Embassy Suites.

I apparently have a lot to learn. Where should I start? I would like to get a higher point value but it looks like as the points go up so do the MF's which I am not really interested in.

How do I become a full member?
 

montygz

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First, you have to consider if you even need to buy a timeshare at all. I'd suggest renting a few stays (which can be cheaper than owning in some cases) and learning about what's out there and what to expect. Timesharing is complex, with a multitude of different programs and systems. You can really never learn enough about it and change is inevitable.

There is zero need to rush out and buy anything. Timeshares are easy to buy, but hard to get rid of, so you have to make sure you are getting the right thing for your situation.

After staying in a few and doing some research it will become more clear as to what would work the best for you.

You can sign up by clicking on "support TUG" up at the top of the page. It gives you access to the members-only "sightings" forum, which was a great help to me in deciding what to buy.
 

dayooper

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Yea, I don't care about a home resort, in fact I don't like Myrtle Beach, that's just where I got suckered in for a really cheap few nights at the Embassy Suites.

I apparently have a lot to learn. Where should I start? I would like to get a higher point value but it looks like as the points go up so do the MF's which I am not really interested in.

How do I become a full member?
How much buy in cost and MF’s are you looking for. HGVC has the same MF’s for each room size at each resorts. Seasons don’t matter. The MF’s at the Flamingo 2 bedroom are $1049 no matter the season. So a silver season would get 3500 points, a gold would get 5000 points and my platinum is worth 7000 points. If you are looking for your best deal as far as MF’s go, Vegas is usually your best bet. Check out the HGVC forum for more info.
 

Panina

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Yea, I don't care about a home resort, in fact I don't like Myrtle Beach, that's just where I got suckered in for a really cheap few nights at the Embassy Suites.

I apparently have a lot to learn. Where should I start? I would like to get a higher point value but it looks like as the points go up so do the MF's which I am not really interested in.

How do I become a full member?
Actually point value is higher based on season but maintenance fees stay the same for the same size unit. So for example at Ocean 22 a 2 bedroom can range from 3500 points to 7000 points depending on the season but the maintenance fees will be the same. The resale purchase price will be highest for the 7000 point unit.

Check out the hgvc forum right here on TUG. In the beginning of the forum there are some threads explaining the system.
 

TUGBrian

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congrats on finding TUG and correcting a $16,000 mistake!

you will have some amazing vacations over the next few years with that kind of savings!
 

GT75

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Anyway, I am looking for some advise about where to find a good re-sale broker. I contacted someone and he seemed really good, sent me some number for the same property that amounted to < $2 per point?
Welcome. Again, lets made sure that you mail the rescission letter first before you worry about resales. I think that you have already been given excellent advice. Take your time, resales will always be there so there isn't a rush to purchase today. There are several TS systems out there beside HGVC. So, you may want to start looking at the New to Timesharing? Look Here section. There are some great Sticky information there. There is also a "What to Buy" Sticky. You could Start a New Thread there buy filling out the answers to the questions.

Specifically to HGVC, the "rule of thumb" for platinum season annual purchases is $1/point. Again, of course it depends where and why you are purchasing. You can pay higher or lower. Also, please consider the MFs when you are purchasing.
 

pedro47

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Welcome to TUG. The key items are: please rescind you purchase ASAP; read TUG website for free advice; read TUG 101 about timeshare information; learn to ask questions here before you purchase; try to purchase resales; read about the different developers liked: HGVC, Marriott's, Disney, Hyatt, Wyndham, Blue Green. DRI, and Shell in others words there are so many choices for you to select from. IMHO, do not visit West Gate better known here as Waste Gate. I have only listed a few companies. Good Luck to you in 2019.

Buying a timeshare is liked buying a new car. You needs to Shop Around, IMHP.
 

Brian_F

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Thanks again to all. I will definitely send the rescind letter tomorrow. They gave me a bag and a resort book also. Should I send those back or just the letter. Not that I want to keep the bag just makes me have to find a box and pay more postage.
 

Brian_F

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Welcome to Tug. I believe you saved yourself at least $15,000 if you buy equivalent in resale. FYI, my 3500 point week and my 4800 point week I got for free. They were affiliates so there was no rofr. They are also weeks I intend to go to more then not. If you have no interest in using a home resort then you should get a higher point value.

Spend some time learning all about hgvc here on tug. You might even find one here that a tugger will be giving away, that’s how I got one. I also gave one away.

Please consider becoming an official member, it only costs $15 and helps support this site.
deleted - figured out issue. Gave you a referral when I joined.
 
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Panina

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deleted - figured out issue. Gave you a referral when I joined.
Thank you, that was nice of you. TUG has taught me so much as it will you. All the contributors here have so much knowledge they share.

You will find in time, TUG it is more then a timeshare resource. It is a gathering of friends supporting each other.
 

Brian_F

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What if the post office loses my rescind letter? I sent it certified and it was supposed to be there yesterday. Still not there. I sent a box returning the stuff they gave us after we signed at the same time and it was delivered on time. I sent an email to the HGVC sales office where we went to the presentation and to the Orlando office on the 5th day but I only included a copy of the letter not the signed version. I wonder if no one would sign for it so the PO will keep trying? USPS tracking is worthless, just says late but still in transit.


Sent from my iPhone using Tapatalk
 

TUGBrian

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it only matters when it was sent (ie the postmark), not when it was received.
 

TheTimeTraveler

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Actually the USPS tracking isn't useless at all. It actually proves that you mailed something, and it also will prove that it was signed for (received) when it is finally delivered.

The certification (and tracking process) is critically important should you need to take the HGVC sales office to court in order to obtain your well deserved refund.



.
 

Brian_F

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I might have mailed them thank you note right. If it never arrives then yes I might have to go to court.

I did email Jari Alvarez (name indicated on contract) at HGVC the same day I sent the letter with a copy of the letter and picture of the certified mail receipt stamped with the date. It’s just annoying because out of the millions of letters the PO handled over that holiday weekend mine was most important .


Sent from my iPhone using Tapatalk
 

WinniWoman

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I mailed a certified letter for something not related to timeshares in December and when I go on tracking it looks like delivery was attempted and no one was home. Doesn't seem like it was picked up at the post office afterwards. Supposedly after 12/19 it was supposed to be returned to sender (that would be me) but I never got it back. Next time I do confirmed delivery, which is what I wanted to do int he first place until the postal worker talked me out of it.
 

dahiana

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I might have mailed them thank you note right. If it never arrives then yes I might have to go to court.

I did email Jari Alvarez (name indicated on contract) at HGVC the same day I sent the letter with a copy of the letter and picture of the certified mail receipt stamped with the date. It’s just annoying because out of the millions of letters the PO handled over that holiday weekend mine was most important .


Sent from my iPhone using Tapatalk
Hi Brian, i need to send my cancellation letter tomorrow, but could you please give me Jari Alvarez email, i would like to send him an email too

thanks!!!
 
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