Purchased & 1 Day left to Rescind at Grandview Las Vegas - please HELP and comment

[Jomo]

Found this site and realized I might have made a mistake. Please leave a comment and what your thoughts are on this deal and if I should Rescind or if I should keep it.

Grandview at Las Vegas

Total price $16,000 USD

Usage: Annual

Fixed annual week 4: They said I could change this anytime

Deed: 1 bedroom that I can pass down for generations (I was told I could trade for a like size at other resorts meaning I could request 3-4 villas at lower tiered resorts. So my one room turns into multiple rooms for my family and friends to come with me.)

Maintenance Fee: 2020 MF onward: $417.50

RCI Exchange Fees: $266.75

RCI Membership Fee: $99

RCI Hidden Fees: Exchange Fee for another resort anywhere $239
RCI Hidden Fees: Fee to combine multiple weeks $134
RCI Hidden Fees: International Exchange within the VV Family of resorts $159

Extra Weeks: 2 (3 Total, 2-45 days prior for booking my bonus weeks)

Included Upgrade ($8000 upgrade I was told) for Unlimited Worldwide hotel bookings for $30-$50/night at a 97% booking success rate with no limitations to who or where I book for as it's a voucher with no name on it through the conceirge. (EDIT* I've now learned this is standard with the RCI Membership so this was not accurate when the salesman told me this).

They will rent out my 3 weeks for a 30% take so I can get an easy 70% of a minimum 2800/week (up to 3300/week) they charge out at.

I have family in Vegas and they can use the resort at anytime including the gym everyday if they wanted to cancel their gym membership.

They said they are the #1 RCI resort, Gold crown, and that they have a 97% booking rate and no blackout dates.

They offered me a 1 year 0% financing option which was 10% at time of sale, 40% within 30 days and 50% of the remainder over the next 11 months or it roles into a 17.8% Financing deal which is terrible so I would never go for that, I'll be doing the 1 year 0%.

BONUS: Anniversary week ($189 processing fee and $100 refundable reservation deposit which is refunded in the form of a Visa gift card.)

I do have a Sealed "Grandview at Las Vegas Deed of Trust" notarized document.

Bonus Gifts: 3 Day/2 Night stay in Las Vegas $298 retail Value, $80 Visa GC

Points: This deed does not have points but weeks and I got 2 bonus weeks giving me 3 Total per year.


At the beginning they were offering 2 BR - 1 week for $41,000 USD with a $835 Annual fee plus the $99 RCI fee etc. No unlimited hotel bookings for $30-50 and it went from there.

Thank you for taking the time to read this post and anything you have to say that's constructive and enlightening would be more than appreciated as I'm running out of time to rescind.

- Jon

 

[RX8]

Rescind now while you can!!!! You paid about $16,000 too much. Also, they have lied to you as they are not going to rent out your week for $2800 and pay you 70% of that amount. Also, that Unlimited Worldwide is not worth $8,000. In fact, it is likely worth zero dollars. Rescind!

Edited to add: Comparing your 1 BDM fixed week 4 for $16,000, Ebay has a 2BDM fixed week 4 that sold for a PENNY! In addition, all closing costs were paid by the seller and the winning bidder also received a $250 gift card. Congrats for investigating while you were still within the rescind period. You just saved $16,000.

 

[Jomo]

Rescind now while you can!!!! You paid about $16,000 too much. Also, they have lied to you as they are not going to rent out your week for $2800 and pay you 70% of that amount. Rescind!

Thanks for such a quick response, I really appreciate it.

 

[RX8]

Thanks for such a quick response, I really appreciate it.

One last thing - follow your contract instructions for rescinding. You do not need to call the salesperson as they will try to save their commission. Be sure to send certified so you have proof of the date you sent the rescission. What matters is the date you send it, not the date they receive it. The letter you write can be simple. Just state that you are rescinding per your right as outlined in the contract. Include your name(s) and contract number, if there was one. Be sure all parties sign the letter, Good luck!

 

[Jomo]

One last thing - follow your contract instructions for rescinding. You do not need to call the salesperson as they will try to save their commission. Be sure to send certified so you have proof of the date you sent the rescission. What matters is the date you send it, not the date they receive it. The letter you write can be simple. Just state that you are rescinding per your right as outlined in the contract. Include your name(s) and contract number, if there was one. Be sure all parties sign the letter, Good luck!

Thank you so much RX8, I have the document in hand and will follow it to the finest detail and make sure I send it certified for the time stamp. Hoping for more comments from the community =)

 

[bluehende]

Rescind. You can get this on the resale market for much less. Slow down research more. If you really want that unit it will always be available. You will find most if not all of that bonus stuff is worth little to zero.

 

[Jomo]

Rescind. You can get this on the resale market for much less. Slow down research more. If you really want that unit it will always be available. You will find most if not all of that bonus stuff is worth little to zero.

Thank you!

 

[montygz]

I own at Grandview. I paid $250 for 98K points a year. It's a great resort to buy resale, but as you have now learned, a big mistake to buy from the developer.

 

[Passepartout]

Never mind. I must be getting senile. You bought Grandview, not Wastegate. Better, but you can still save thousands by buying resale.

Jim

 

[LannyPC]

Hoping for more comments from the community =)

Well, since you asked for it, I will add to what Bluehende said. Don't be quick to jump into the pool of purchasing. Most here on TUG would recommend taking a few months to do research before buying, or even taking one for free. Take the time to analyze your personal (and family) travel needs, preferences, and circumstances along with your financial circumstances.

Analyze the following: Owning vs. renting (if unsure, try renting first); points vs. weeks; fixed vs. floating; big names (Vistana, Wyndham DVC, etc.) vs. independents; timeshares vs. other types of accommodations such as hotels, motels, AirBNB, etc.

Also, in the New To Timeshares Forum, there is a sticky that has a questionnaire for people who are considering purchasing. I would recommend reading and answering those personal questions.

 

[Aurelius]

For reference, I bought a 2BR (98k points) Grandview resale a few days ago for $350 plus $222 RCI membership. Seller paid all other closing costs and transfer costs. Came with free 2019 usage.

The original owner bought for nearly $40k in 2008.

Rescind and buy resale. Let someone else waste tens of thousands of dollars.

 

[jwalk03]

Rescind. You can own at Grandview for next to nothing buying resale, or after you do some much needed research you may decide that there is a better timeshare out there for you to own, or you may decide that your better off renting timeshares from existing owners. Bottom line no matter which option you chose is that you need to gain much more knowledge then you have now, so rescinding while you still can to allow yourself time to learn about the other options is the only rationale choice. Do it now, before its too late, you only have one chance to rescind before wasting thousands and thousands of dollars!

 

[TUGBrian]

congrats on finding TUG in time to rescind and save $16 grand!

 

[Karen G]

Congratulations on finding TUG in time and saving all that money! If you're truly interested in owning at the Grandview, I know you can find a great deal on the resale market. We live just a few miles from the Grandview and the Southpoint resort/casino next door. The Southpoint is our favorite place for the great shows & the big variety of other activities they offer.

Once you've rescinded your purchase take some time to learn everything you can about owning and using a timeshare before you buy anything else. You've come to the right place at TUG.

 

[Jomo]

Long overdue update from OP!

I was able to rescind in time and got my full refund (minus a little on the exchange rate).

Thank you to everyone for your time and comments, and a special thanks to Jan M. Who spent hours with me on the phone teaching me like I was a member of her family! Thank you.

 

[GrampaTim]

We traded into Grandview once since it took very few points at that time. We were invited to an "orientation breakfast". The rep drove us to a place down the road, lying the whole distance about what was to be developed along the way. None of that took place. ( Though the place looked inviting, I found the quality of construction to be very poor. ). There was no breakfast ( another lie, just some very stale bagels ). Then we had to sit through the "pitch" ( which had not been disclosed ). We declined everything. Then we had to wait outside for the "bus" to give us a ride back to the facility so we could get our car and enjoy our day. While waiting, the sales people ( sitting out there in clouds of their smoke ) were incredibly rude and making insulting comments because we had no interest in buying their highly inflated offer. We've never stayed there since. They hit the #1 most dishonest group I've ever encountered. Be very happy you rescinded. There are many other places on, or near, the strip with good resale values. The Grandview is nothing more than a bed since there is almost nothing to do there.

 

[bogey21]

The Grandview is nothing more than a bed since there is almost nothing to do there.

I don't see it that way. The Southpoint is only about 50 yards away and a Tri-Annual (if that is what they call it) purchased resale will cost you next to nothing up front and have minimum MF expense...

George

 

[Jan M.]

We've owned at Grandview for 6 or 7 years but only stayed at Grandview for the first time for 17 nights last year in one stay. We did the sales presentation while we were there because I wanted to know about the Vacation Village Plus program. I pay for us to have the platinum benefits with our RCI points account and find those benefits more useful than what VV Plus program gets you. I also wanted the two tickets to Cirque Mystere and the buffet at Treasure Island that they were offering with an additional $30 we had to pay. So worth it. We had great seats, loved the show and enjoyed our dinner. Our sales person showed us around the resort and took us over to Southpointe for the lunch buffet. After we ate he walked us around Southpointe showing us all the stuff to do there.

We've been to Vegas an embarrassing number of times in the last 18 years so know our way around and go all over Vegas and Henderson. We found the Grandview location convenient however we don't care about staying on the Strip in the middle of all the action. We usually stay at Wyndham Grand Desert but would definitely stay at Grandview again if that worked out to be the better deal for us.

 

[Karen G]

I don't see it that way. The Southpoint is only about 50 yards away and a Tri-Annual (if that is what they call it) purchased resale will cost you next to nothing up front and have minimum MF expense...

George

would definitely stay at Grandview again if that worked out to be the better deal for us.

As locals, we love the Southpoint and go there almost every week. They offer great shows in their showroom at reasonable prices. They often have interesting horse events in their arena, and we often go to movies there at a great senior discount price of $4 for those 50 and over with a free players card. Parking is free and plentiful. Drinks are a reasonable $6. There's a lot to enjoy there and it's right next door to the Grandview. There's also a bowling alley and many restaurants to choose from.