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Potential new owner - questions!!

Caperguy

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Hi,
Sorry if some of these are elsewhere here...sort of in a rush to get some feedback.

We did the sales pitch at Parc Soleil in Orlando last week, and we think it's a potentially good fit for our family in the long run. After the initial debt is paid off, the yearly fees would certainly be less than our regular hotel bills (we typically take a week vacation, and would need the 1-bdr. We got the Platinum 4600 points at Seaworld, every second year, approx $17k) and we'd get quality hotel rooms at places we haven't been or ones near Disney, for example, with the affiliated locations.

We're just wondering how people like the system, ease of booking affiliated locations, carrying over points, transferring them to HHIlton points if unused, this type of travel investment, etc.

One question that hadn't been answered was the price - they seemed to pluck it from mid-air for the plat - 1bedroom. Makes sense I think but found it strange the first time I saw the price was when the finance guy was doing up the monthly charges.

our 10 days isn't up yet and we're still second guessing ourselves. The conversion of unused points at 25 per point to HHonors doesn't really seem worth it (4600x25 might get us 3 nights at a low traffic city -- 40,000 pts/night)

Anyone ever sell their property back to Hilton?

thanks all!!

I should say that we're from Canada. Major obstacle in our minds, too, is that we'd need to fly to any of the resorts. We just started travelling with our young kids, so haven't gotten in a routine of flying too many places. Hopefully in time we'd do that more and maybe this would help with that, knowing we'd have a good place to stay?
 

Ty1on

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Oops quoted myself instead of editing
 
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vacationtime1

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Rescind.

A timeshare is a luxury purchase. If you have to finance it, you cannot afford it.

A one bedroom is not big enough for your family long term -- and you should think at least somewhat long term on a purchase of this magnitude.

This should not be an impulse purchase made on vacation.

Take your time; research carefully (I suspect you spent several times what 4800 points cost on the resale market, but I will leave that for the Hilton experts).
 

Karen G

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our 10 days isn't up yet and we're still second guessing ourselves.
If there are any doubts whatsoever and if there is anything you don't understand, get out now before your ten days are up. Do more research. Read everything you can on TUG and ask lots of questions. Educate yourself on the various timeshare systems and programs.

That deal will still be there, along with hundreds of others, once you have learned all you need to know.
 

Great3

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Mainly because $17K for every other year is way too expensive, when you can get 4800 pts every year for about $3K-$5k or 7000 pts every year for about $5K-$8K on the resale market, that's why everybody is telling you to rescind.

So yes, rescind if you can, and learn about HGVC here on tugbbs and than try your hand at resale market when you are ready.

Great3
 

Jason245

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Mainly because $17K for every other year is way too expensive, when you can get 4800 pts every year for about $3K-$5k or 7000 pts every year for about $5K-$8K on the resale market, that's why everybody is telling you to rescind.

So yes, rescind if you can, and learn about HGVC here on tugbbs and than try your hand at resale market when you are ready.

Great3
Do this.

As an aside, hgvc has affiliate resorts in Canada.

Sent from my SAMSUNG-SM-N910A using Tapatalk
 

Caperguy

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Thanks for the replies. I think we'd lose our deposit, but seems like more research would help us out.
 

mtm65

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Thanks for the replies. I think we'd lose our deposit, but seems like more research would help us out.

Not sure about your situation but we did not lose our deposit when we rescinded last year. We bought resale after we rescinded and we are very happy with our 7000 HGVC points.
 

JIMinNC

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While I certainly think it is wise to rescind (do it ASAP) and buy resale (take your time), I would not recommend going to eBay to purchase. For a new buyer, buying a resale timeshare on eBay is filled with even more land mines than buying from a developer. While quality developers like Hilton, Marriott, Starwood, etc will spin the facts, stretch the truth, and otherwise do whatever they can to sell you on their product, they are not outright frauds. While there are many honest resellers on eBay, there are also frauds and crooks - and it's hard to tell the difference.

I would recommend going to one of the several independent resale brokers often recommended here on TUG. Just so you can see how much you can really save by buying resale, here is a link to the Hilton resales page from one of those brokers:

http://www.sellingtimeshares.net/category/listings/hilton/

Resale timeshares are the same exact product as you spend $17K for from Hilton. Rescind; do more research into the Hilton program to make sure it is the right one for you; then go to one of the independent resale brokers and save many thousands of dollars. As others have said, you can buy 4800 points at SeaWorld every year from a reputable broker for less than $4000. I bet an every other year like you paid $17K for would be less than $2000. Your ongoing annual costs will be exactly the same with resale vs a developer purchase.

And as others have said, I believe the recession statutes require that the developer refund all monies - including the deposit - if rescinded properly within the recession period.
 

Caperguy

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While I certainly think it is wise to rescind (do it ASAP) and buy resale (take your time), I would not recommend going to eBay to purchase. For a new buyer, buying a resale timeshare on eBay is filled with even more land mines than buying from a developer. While quality developers like Hilton, Marriott, Starwood, etc will spin the facts, stretch the truth, and otherwise do whatever they can to sell you on their product, they are not outright frauds. While there are many honest resellers on eBay, there are also frauds and crooks - and it's hard to tell the difference.

I would recommend going to one of the several independent resale brokers often recommended here on TUG. Just so you can see how much you can really save by buying resale, here is a link to the Hilton resales page from one of those brokers:

http://www.sellingtimeshares.net/category/listings/hilton/

Resale timeshares are the same exact product as you spend $17K for from Hilton. Rescind; do more research into the Hilton program to make sure it is the right one for you; then go to one of the independent resale brokers and save many thousands of dollars. As others have said, you can buy 4800 points at SeaWorld every year from a reputable broker for less than $4000. I bet an every other year like you paid $17K for would be less than $2000. Your ongoing annual costs will be exactly the same with resale vs a developer purchase.

And as others have said, I believe the recession statutes require that the developer refund all monies - including the deposit - if rescinded properly within the recession period.

thank you all again and this one was very helpful

one question about your post....your $2,000 figure - are you suggesting this could be a price we could possibly pay every second year on an ongoing basis? We'll certainly have to look around. We like the idea, but paying/financing $17k up front just doesn't fit right now, and would take years and years of uses to get full benefit.

I checked our contract and it is 10 days with no obligation, so I e-mailed them to see what 'in writing' means to cancel. It would appear a refund of down payment should be the case.
 

presley

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We're just wondering how people like the system, ease of booking affiliated locations, carrying over points, transferring them to HHIlton points if unused, this type of travel investment, etc.

Anyone ever sell their property back to Hilton?

It's a good system if you want to stay in their timeshares. If you want to trade your timeshare points for hotel points, you end throwing money away as you end up with only a few night instead of a full week. You can trade your timeshare points in RCI for other resorts, but the majority of those are not Hilton quality.

Since you are in Canada and would have to fly to all the Hiltons, I don't think you should buy Hilton. I think you'd be happier with a different system that had more locations closer to you.

I recently contacted Hilton resales to see if they would sell some of mine and they told me that I have to sell through Judi Kozlowski, who is a well known resale agent on this site. You can buy resale through her if you are interested in, but it doesn't sound like Hilton is the best fit for you.
 

vacationhopeful

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emailing a question to the seller about rescinding ... they will reply on day 11 ... that does NOT EXTEND your rescind date.

There is an address to SEND the written and sign rescind letter:
Date of Letter

We, Joe & Jane Smith, exercise our right to rescind contract #12345 brought on 08/xx/15 at SUCH & SUCH.

Please refund all deposits paid IMMEDIATELY to the credit card used for this purchase.

All material manuals received will be sent under separate cover.

Thank you,
Joe Smith (signature)
Jane Smith (signature)

Sent via Certified Mail: 1234 1234 1234 1234
Copy sent via Regular Mail

No EMAIL ... not legally binding!

And don't take ANY phone calls .. they are NOT your friend(s) - all they WANT is a commission check.
 

JIMinNC

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thank you all again and this one was very helpful

one question about your post....your $2,000 figure - are you suggesting this could be a price we could possibly pay every second year on an ongoing basis? We'll certainly have to look around. We like the idea, but paying/financing $17k up front just doesn't fit right now, and would take years and years of uses to get full benefit.

I checked our contract and it is 10 days with no obligation, so I e-mailed them to see what 'in writing' means to cancel. It would appear a refund of down payment should be the case.

If you look at the page I linked to above, the costs you see are the upfront purchase costs, not the ongoing annual maintenance fee costs. So, instead of paying $17K for an every-other-year SeaWord 4800 point contract, you can see you can buy an every year SeaWord 4800 point contract for no more than $3900 (and that's the seller's asking price, you can usually offer less and maybe they will accept - just like buying a house). There is no every-other-year contract listed right now on the site I linked to, but usually the upfront cost for an every-other-year is no more than about half or so of the every year cost, so that's why I estimated $2000 for an every-other-year resale. So for $2000 or less, you should be able to buy the same product you are paying Hilton $17K for. Timeshares resell for only a fraction of what developers charge.

So if you decide to stick with an every-other-year SeaWorld 4800 point contract, even though one of those is not listed right now, you should be able to eventually find one from the site linked above (SellingTimeshares.com) or you could try the other reseller mentioned above (Judi Kozlowski) to see if she has one listed.

The ongoing costs are exactly the same regardless of whether you buy from Hilton or resale. So for a 1BR 4800 point platinum at SeaWorld, based on the list of annual fees in the sticky at the top of this forum, I think that is about $711 plus the $140 HGVC club fee for a total of $851. So if you buy an every-other-year, you would pay the $711 every-other-year and the club dues every year, I think. If you buy an every year, you would pay $851 every year.
 
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clotheshorse

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thank you all again and this one was very helpful

one question about your post....your $2,000 figure - are you suggesting this could be a price we could possibly pay every second year on an ongoing basis? We'll certainly have to look around. We like the idea, but paying/financing $17k up front just doesn't fit right now, and would take years and years of uses to get full benefit.

I checked our contract and it is 10 days with no obligation, so I e-mailed them to see what 'in writing' means to cancel. It would appear a refund of down payment should be the case.

To answer your question, yes, you can get an every other contract resale for less than 2,000. In fact, I purchased 4800 points last year from one of the suggested brokers for $1,000. I am so happy with my purchase; I love the flexibility of program and locations. Also, I haven't heard of losing a deposit when you rescind. Like others have said, rescind as soon as you can and do your family a favor and buy resale.
 

Caperguy

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emailing a question to the seller about rescinding ... they will reply on day 11 ... that does NOT EXTEND your rescind date.

There is an address to SEND the written and sign rescind letter:
Date of Letter

We, Joe & Jane Smith, exercise our right to rescind contract #12345 brought on 08/xx/15 at SUCH & SUCH.

Please refund all deposits paid IMMEDIATELY to the credit card used for this purchase.

All material manuals received will be sent under separate cover.

Thank you,
Joe Smith (signature)
Jane Smith (signature)

Sent via Certified Mail: 1234 1234 1234 1234
Copy sent via Regular Mail

No EMAIL ... not legally binding!

And don't take ANY phone calls .. they are NOT your friend(s) - all they WANT is a commission check.

cool... what materials are you suggesting we send back? We got a cd/thumb storage, RCI book, our contract, etc...what do they care if we send all that back?

Our salesperson said a fax is good...perhaps I'll do that first, then do the written copy by registered mail (as long as it is sent by day 10)
 

JIMinNC

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cool... what materials are you suggesting we send back? We got a cd/thumb storage, RCI book, our contract, etc...what do they care if we send all that back?

Our salesperson said a fax is good...perhaps I'll do that first, then do the written copy by registered mail (as long as it is sent by day 10)

If you look at the piece of paper you probably signed on the Right of Rescission, it should specify exactly what you need to do. Usually it requires return of all materials provided.
 

Caperguy

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If you look at the piece of paper you probably signed on the Right of Rescission, it should specify exactly what you need to do. Usually it requires return of all materials provided.

I just checked....the single page that lists the documents we saw/have says to send request to Las Vegas....our contract specifically says Orlando. No where states we need to return stuff.

I have e-mailed our sales person (who had replied to me about something this morning) and QAM to ask what to do. I"ll send a letter to both if I have to.
 

Karen G

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Thanks for the replies. I think we'd lose our deposit, but seems like more research would help us out.
By the very definition of rescission you should not lose any money. To rescind a contract means to cancel it. Both parties are put back to the position they were in before the contract was made. You should get all your money back.
 

Caperguy

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By the very definition of rescission you should not lose any money. To rescind a contract means to cancel it. Both parties are put back to the position they were in before the contract was made. You should get all your money back.

thanks, yes, I see that in the contract now.

As long as I fax them, and mail the request today (which may not make it in their hands tomorrow, but as long as "sent" date stamp is within the 10 days), we should be fine
 

Karen G

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I have e-mailed our sales person (who had replied to me about something this morning) and QAM to ask what to do. I"ll send a letter to both if I have to.
Don't talk to a sales person. They will try to talk you into NOT rescinding. You need to get your rescission in the mail and then send back any binders or whatever materials by separate means in the most economical way possible.
 

Ty1on

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While I certainly think it is wise to rescind (do it ASAP) and buy resale (take your time), I would not recommend going to eBay to purchase. For a new buyer, buying a resale timeshare on eBay is filled with even more land mines than buying from a developer. While quality developers like Hilton, Marriott, Starwood, etc will spin the facts, stretch the truth, and otherwise do whatever they can to sell you on their product, they are not outright frauds. While there are many honest resellers on eBay, there are also frauds and crooks - and it's hard to tell the difference.

I would recommend going to one of the several independent resale brokers often recommended here on TUG. Just so you can see how much you can really save by buying resale, here is a link to the Hilton resales page from one of those brokers:

http://www.sellingtimeshares.net/category/listings/hilton/

Resale timeshares are the same exact product as you spend $17K for from Hilton. Rescind; do more research into the Hilton program to make sure it is the right one for you; then go to one of the independent resale brokers and save many thousands of dollars. As others have said, you can buy 4800 points at SeaWorld every year from a reputable broker for less than $4000. I bet an every other year like you paid $17K for would be less than $2000. Your ongoing annual costs will be exactly the same with resale vs a developer purchase.

And as others have said, I believe the recession statutes require that the developer refund all monies - including the deposit - if rescinded properly within the recession period.

Yeah, I just posted that for an idea of the value for which he was paying $17K. I don't dabble in Hilton so didn't know a legitimate reseller to link.
 

Caperguy

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Don't talk to a sales person. They will try to talk you into NOT rescinding. You need to get your rescission in the mail and then send back any binders or whatever materials by separate means in the most economical way possible.

If they don't get back to me, where should I send it....the address in our contract or the address in the documents overview/rescinding information?

I'll send a letter to both if I have to
 

Talent312

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This is a bad-deal. Stop talking to the sales-peep... They will mess you up, intentionally.

Send your rescission notice in the manner and to the address stated in the contract...
If you follow the contract EXACTLY as stated, you will qualify to get all your $$ back!
If it says "mail:" Do not fax, e-mail, text, twit, or fed-ex (except as a duplicate).
Even there's a better way, use the contract-method. Otherwise, they do not have to honor it.

-------------------------------
That said... Hilton is an honorable corporation and will do the right thing.
As a program: HGVC is a very flexible, consumer-friendly program and we like it.
Resale buyers get all the same perks as retail buyers -- no difference in how its used.
... except that resale points do not count toward elite-status @14K (which you do not need).

Check out the resale listings at http://www.judikoz.com and http://www.sellingtimeshares.net/
These are two highly regarded, reputable brokers.
.
 
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