Not sure if I'm getting a deal

[JWC]

Discovered this forum today and new to T/S. I own a deeded timeshare/vacation club with very low points (5k) that I bought a couple of years ago. It's paid off and the maintenance is minimal (approx $150/year). It came with access to RCI and I've used it multiple times to book "extra vacations" with RCI. I have come pretty close to making back my initial investment on moneys saved from those bookings. It's cost me about 2.5 cents/pt booking that way.

This week during one of those bookings we accepted the pitch from the resort we're staying at in Massanutten, Virginia. Basically the closer offered us a Deeded week 34 (red week) 3 bedroom lock off (I think that's the proper term...we have one that can be a 2 bedroom and a 1 bedroom). We live in Oklahoma so we don't plan to come to this resort much at all, but basically this week can be banked to RCI for 67k points. The price is $4,500 and $725 yearly mnt fee. I had not considered the resale market. Should I rescind this and go that route? I'd be at about .001/pt after it's paid off. There are so many different programs out there it can be overwhelming .

 

[Theiggy]

I’m not 100% sure but I think you can prob get a week in massanutten for free. Check prices on eBay, Redweek etc and see. Save yourself $4500!


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[JWC]

I’m not 100% sure but I think you can prob get a week in massanutten for free. Check prices on eBay, Redweek etc and see. Save yourself $4500!


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I discovered Redweek today...as I said I'm very new to this lol. There is one for a $1 that seems comparable, I'm just not sure if it's an apples to apples comparison . I did join Tug so maybe I can educate myself a little more. Thank you for the response!

 

[slip]

Definitely rescind and try to find something that fits your needs more in resales.

 

[escanoe]

I am a Massanutten owner and staying there right now. You absolutely should rescind and buy resale. That is not a great $mf/point ratio, and does not have value in the resale market. You should rescind immediately, do research, then likely buy resale if you want more RCI points to trade with.

 

[TheTimeTraveler]

Discovered this forum today and new to T/S. I own a deeded timeshare/vacation club with very low points (5k) that I bought a couple of years ago. It's paid off and the maintenance is minimal (approx $150/year). It came with access to RCI and I've used it multiple times to book "extra vacations" with RCI. I have come pretty close to making back my initial investment on moneys saved from those bookings. It's cost me about 2.5 cents/pt booking that way.

This week during one of those bookings we accepted the pitch from the resort we're staying at in Massanutten, Virginia. Basically the closer offered us a Deeded week 34 (red week) 3 bedroom lock off (I think that's the proper term...we have one that can be a 2 bedroom and a 1 bedroom). We live in Oklahoma so we don't plan to come to this resort much at all, but basically this week can be banked to RCI for 67k points. The price is $4,500 and $725 yearly mnt fee. I had not considered the resale market. Should I rescind this and go that route? I'd be at about .001/pt after it's paid off. There are so many different programs out there it can be overwhelming .

RESCIND. Don't even think twice about it. You only have a few short days you can legally do so. RESCIND.




.

 

[RX8]

Discovered this forum today and new to T/S. I own a deeded timeshare/vacation club with very low points (5k) that I bought a couple of years ago. It's paid off and the maintenance is minimal (approx $150/year). It came with access to RCI and I've used it multiple times to book "extra vacations" with RCI. I have come pretty close to making back my initial investment on moneys saved from those bookings. It's cost me about 2.5 cents/pt booking that way.

This week during one of those bookings we accepted the pitch from the resort we're staying at in Massanutten, Virginia. Basically the closer offered us a Deeded week 34 (red week) 3 bedroom lock off (I think that's the proper term...we have one that can be a 2 bedroom and a 1 bedroom). We live in Oklahoma so we don't plan to come to this resort much at all, but basically this week can be banked to RCI for 67k points. The price is $4,500 and $725 yearly mnt fee. I had not considered the resale market. Should I rescind this and go that route? I'd be at about .001/pt after it's paid off. There are so many different programs out there it can be overwhelming .

As others have recommended, rescind ASAP!

You say that you accepted their pitch "this week". Today is only Monday so did you mean today? As @TheTimeTraveler says, you only have a few days to legally rescind. Miss that window and you own a timeshare that is now worth $1.

 

[CPNY]

Discovered this forum today and new to T/S. I own a deeded timeshare/vacation club with very low points (5k) that I bought a couple of years ago. It's paid off and the maintenance is minimal (approx $150/year). It came with access to RCI and I've used it multiple times to book "extra vacations" with RCI. I have come pretty close to making back my initial investment on moneys saved from those bookings. It's cost me about 2.5 cents/pt booking that way.

This week during one of those bookings we accepted the pitch from the resort we're staying at in Massanutten, Virginia. Basically the closer offered us a Deeded week 34 (red week) 3 bedroom lock off (I think that's the proper term...we have one that can be a 2 bedroom and a 1 bedroom). We live in Oklahoma so we don't plan to come to this resort much at all, but basically this week can be banked to RCI for 67k points. The price is $4,500 and $725 yearly mnt fee. I had not considered the resale market. Should I rescind this and go that route? I'd be at about .001/pt after it's paid off. There are so many different programs out there it can be overwhelming .

Rescind. I own a 2 bedroom 89K at 550 MF per year. Bought it on eBay.

 

[Karen G]

Since you’re not certain what you bought is the best thing for you, you probably should rescind this purchase while you still can. I think you have seven calendar days from when you signed in Virginia.

Check your sales contract for instructions on where to mail your letter of rescission. Send it by certified mail so that you have proof you rescinded in time. After your research, if you think that’s the best deal, you can buy it then as an informed consumer. But you have just this one chance to rescind & get your money back. Don't miss it!

 

[Shankilicious]

Definitely rescind IMMEDIATELY, DO NOT DELAY. Then spend about 12 hours minimum on here AFTER you answer the "new to timeshare" questionnaire and get feedback from that. The timeshare would is MASSIVE, confusing, frustrating, but can be AMAZING. Especially if you start out with information and a resale purchase that cost 1/10th or less than buying retail from a resort.

 

[JWC]

Definitely rescind and try to find something that fits your needs more in resales.

Thank you


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[JWC]

As others have recommended, rescind ASAP!

You say that you accepted their pitch "this week". Today is only Monday so did you mean today? As @TheTimeTraveler says, you only have a few days to legally rescind. Miss that window and you own a timeshare that is now worth $1.

We heard it on Sunday. We have 7 days to rescind. I really appreciate all of the feedback on this forum. Thank you


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[JWC]

I am a Massanutten owner and staying there right now. You absolutely should rescind and buy resale. That is not a great $mf/point ratio, and does not have value in the resale market. You should rescind immediately, do research, then likely buy resale if you want more RCI points to trade with.

Yes, thank you for the input. We like the resort but live 1500 miles away and would not likely come here very often. My only purpose for buying would be to exchange for points. There are so many programs out there and point values seem to be all over the place depending on the company. Not to mention how much and often things change.


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[elaine]

do it asap. don't wait. and don't talk to anyone in the sales office--they'll try to convince you to keep with a better deal, etc. If you hand deliver--get a receipt of acceptance. I'd also make a trip to the post office and send a duplicate in the mail with a receipt of mailing to cover my bases. TS sales offices have been known to "lose" cancellation notices, etc. It's a fine resort, you can just buy resale for much less, as with almost all timeshares. And, you might find something closer that suits your needs better. you only have a few days to get it exactly correct. Make sure to mail to the address in your documents--sometimes it's a different place than the sale office. Also, give them EVERYTHING back--DVD, membership book, etc. It's fine to take those over to the sale office (And get a receipt). Make a copy of the letter you send.

 

[Shankilicious]

do it asap. don't wait. and don't talk to anyone in the sales office--they'll try to convince you to keep with a better deal, etc. if you hand deliver--get a receipt of acceptance. I'd also make a trip to the post office and send a duplicate in the mail with a receipt of mailing to cover my bases. TS sales offices have been known to "lose" cancellation notices, etc. It's s fine resort, you can just buy resale for much less. And, you might find something closer that suits your needs better. you only have a few days to get it exactly correct. Make sure to mail to the address in your documents--sometimes its a different place than the sale office. Also, give them EVERYTHING back--DVD, membership book, etc. Make a copy of the letter you send.

Elaine hits the nail on the head. It may seem redundant and excessive but some extra time a postage to save a few grand will seem really silly if you don't do it.
Also, THE golden rule of timeshare/vacation ownership is this: Buy where you want to/can stay the most!
If you're goal is to stay someplace different every year with the fewest extra fees, then buy into one of the largest resorts that don't restrict resale owners. If you want to visit Orlando or Branson a lot then you can buy with anyone but you'll want to do a lot of research about the restrictions some companies have put on resale purchases.
Lucky for you, you found TUG in time! @TUGBrian I think you can add another $4500 to the running total saved.

 

[RX8]

To expand on @elaine 's post, you can KEEP whatever gift they gave you just to participate in the sales presentation,

 

[JWC]

Elaine hits the nail on the head. It may seem redundant and excessive but some extra time a postage to save a few grand will seem really silly if you don't do it.
Also, THE golden rule of timeshare/vacation ownership is this: Buy where you want to/can stay the most!
If you're goal is to stay someplace different every year with the fewest extra fees, then buy into one of the largest resorts that don't restrict resale owners. If you want to visit Orlando or Branson a lot then you can buy with anyone but you'll want to do a lot of research about the restrictions some companies have put on resale purchases.
Lucky for you, you found TUG in time! @TUGBrian I think you can add another $4500 to the running total saved.

Yes!!! Add that $4500 lol. I’ll be doing that today. I appreciate the advice as well. We live 3 hours from Branson so maybe some research there would be good.

As I said above. We like to go to different places so my top priority would be to use anything I buy in exchange (I think that’s the best way to go about it) I’ve read a ton in the last few days on my “relaxing” vacation but I def need more time to sort out the best way to go. Def open to advice from veteran TS owners as to the best route . And again, THANK YOU!


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[SoNew2TS]

Rescind. I own a 2 bedroom 89K at 550 MF per year. Bought it on eBay.

Hello CPNY. I know this post is old but I just saw it today. I was told by a Massanutten sales representative that if you buy points on the aftermarket they wouldn't renew each year. You would still have the deeded week going forward but the points came from the developer and you have to pay a hefty fee to have the deeded week with points option. I have tried to research if this is correct but can't find a straight answer. I was encouraged to see your post. If you don't mind me asking, do your points renew every year?

 

[CPNY]

Hello CPNY. I know this post is old but I just saw it today. I was told by a Massanutten sales representative that if you buy points on the aftermarket they wouldn't renew each year. You would still have the deeded week going forward but the points came from the developer and you have to pay a hefty fee to have the deeded week with points option. I have tried to research if this is correct but can't find a straight answer. I was encouraged to see your post. If you don't mind me asking, do your points renew every year?

My first use year was 2020 and my 2021 points renew in March, I’ve already used the 2021 points to make a reservation in 2020. The estoppel I received said it was a points ownership. That came directly from the resort so I would assume they can’t magically change that once it changes ownership. Sales reps lie and want to keep you from buying resale. The best points value for the RCI system is the 4 bedroom regal vista redweek or the 2 bedroom. Next up would be the Grandview 122K two bedroom or the 61K 4 bedroom. Those will come up resale and I’d wait for that. I saw two days ago someone giving away a Grandview 122K unit here on the tug bargain section for free and even paying the transfer fees!

I won an eBay auction for the regal vista 4bedroom 178K and paid a hefty price. When I researched it further I really wanted the 2 bedroom89K instead. Lucky for me the sale of the 4 bedroom fell through and two weeks later a 2 bedroom regal vista popped up. I bought it to trade into DVC..... I’m going to animal kingdom villas Savannah view in two weeks. Hold off and only buy a redweek. These units don’t go for a price as high as other systems but you can get some really nice usage from the points (if you don’t mind the insane RCI fees)

 

[SoNew2TS]

Thank you! I really appreciate your time and the info.

 

[TUGBrian]

congrats on finding TUG in time to rescind and save thousands!