Questions on selling my HGVC Elara timeshare

[koalahugs]

I am new to tug, but have been perusing this site for a couple years. I never should have bought this timeshare, like I'm sure many people regret. I did buy it from Hilton directly. Enough of the sob story, I have some specific questions about selling my timeshare.

I have already become a member to post an ad. I literally just paid my dues today for my timeshare. There are this years points in my account. I also have points saved or transferred to RCI. So here are my questions:

• I just want to confirm, the Hilton points will transfer over to a new owner? Correct?
• What about those saved RCI points. Will those transfer to the new owner?
• I see that LT Transfers is recommended to help with the closing paper work. Should I start the process with them before the sale or after someone reaches out to me to buy?
• Does the owner pay for the LT transfer stuff?
• What are closing costs usually? How will I know how much closing cost should be? Rule of thumb, do most owners or buyers cover it, or does it depend?
• The advice on here states regarding LT Transfer, "Using such a service is not a substitute for having a contract with the buyer." So I need to have a contract written up in advance? If so, where do we find templates or anything to have a preliminary contract pre LT Transfer?
• Lastly, people keep mentioning the maintenance fees? How do you find that. I have Operating Fee, Reserve Fee, Real Estate Taxes, and Club Dues. Is it all of those combined? I have an EOY timeshare, so the fees are different between each year.

I have read the advice on selling a timeshare. I appreciate all who have helped compile that information and for those who help me regarding my specific questions. I really want out of this timeshare as it has only burned through money with no benefit to myself. I appreciate any other advice as well. Thank you.

 

[dayooper]

I just want to confirm, the Hilton points will transfer over to a new owner? Correct?

Yes, if it‘s written into the purchase agreement.

What about those saved RCI points. Will those transfer to the new owner?

No, they do not

I see that LT Transfers is recommended to help with the closing paper work. Should I start the process with them before the sale or after someone reaches out to me to buy?

Does the owner pay for the LT transfer stuff?

What are closing costs usually? How will I know how much closing cost should be? Rule of thumb, do most owners or buyers cover it, or does it depend?

Who pays the closing costs is usually negotiated, but many split them. The seller paying the LT transfer portion (deed prep, estoppel fee, escrow fee and filing fee) while the buyer pays the Hilton Transfer and Enrollment fees. If you want to use LT Transfers, reach out to them, they will help you with the process. I used them over the summer and they were great! They made a purchase agreement and were very helpful throughout the process. I paid for the entire transfer (but my deal was very good). If you have a less desired unit, you may have to pay more to help sell. The entire process for me, including the enrollment fee of $619 ($629, now) that was charged after the deed was in my account was around $1500.

The advice on here states regarding LT Transfer, "Using such a service is not a substitute for having a contract with the buyer." So I need to have a contract written up in advance? If so, where do we find templates or anything to have a preliminary contract pre LT Transfer?

The seller and I reached an agreement and LT Transfers wrote up the contract. Call them and they will help get you started.

Lastly, people keep mentioning the maintenance fees? How do you find that. I have Operating Fee, Reserve Fee, Real Estate Taxes, and Club Dues. Is it all of those combined? I have an EOY timeshare, so the fees are different between each year.

The MF’s are the Operating Fee, Reserve Fee and taxes combined. The club dues are separate and are charged separately. The difference between the years were in your off year, you were only charged club dues and the year you were given points, you were charged both the MF’s and club dues. In your HGVC dashboard, you will find the breakdown. When you sell, the estoppel will list what the MF’s are so they buyer will know.

Good Luck!

 

[koalahugs]

Yes, if it‘s written into the purchase agreement.




No, they do not



Who pays the closing costs is usually negotiated, but many split them. The seller paying the LT transfer portion (deed prep, estoppel fee, escrow fee and filing fee) while the buyer pays the Hilton Transfer and Enrollment fees. If you want to use LT Transfers, reach out to them, they will help you with the process. I used them over the summer and they were great! They made a purchase agreement and were very helpful throughout the process. I paid for the entire transfer (but my deal was very good). If you have a less desired unit, you may have to pay more to help sell. The entire process for me, including the enrollment fee of $619 ($629, now) that was charged after the deed was in my account was around $1500.



The seller and I reached an agreement and LT Transfers wrote up the contract. Call them and they will help get you started.



The MF’s are the Operating Fee, Reserve Fee and taxes combined. The club dues are separate and are charged separately. The difference between the years were in your off year, you were only charged club dues and the year you were given points, you were charged both the MF’s and club dues. In your HGVC dashboard, you will find the breakdown. When you sell, the estoppel will list what the MF’s are so they buyer will know.

Good Luck!

Thank you so much for all the helpful information. What are the chances you think I could walk away from a sell without losing money? Like I'd gift the timeshare if I could if it didn't cost money haha.

 

[Talent312]

What are the chances you think I could walk away from a sell without losing money?
Like I'd gift the timeshare if I could if it didn't cost money.

It depends on how desirable your TS is. Platinum annual units are in high demand.
They hold a price. But gold, silver or EOY contracts are a tad more difficult.
That said, I paid all closing costs for a "free" gold 5k annual TS at an affiliate.
.

 

[alwysonvac]

Typically the buyer pays all closing cost and reimburses the maintenance fee.

Ownerships that are harder to get rid of, may require the seller to pay part or all of the closing cost and/or offer their current year’s usage for free. Sellers who want a quick sale may offer these additional incentives as well.

 

[Nowaker]

What season and unit type is your deed? How many annual points and how much 2022 MF? (DO NOT include the $193 club fee in MF)

 

[koalahugs]

What season and unit type is your deed? How many annual points and how much 2022 MF? (DO NOT include the $193 club fee in MF)

I have a Gold, 1bedroom, EOY Even years (Just got points for this year) 5440 pts. The 2022 MF was $910.

 

[1Kflyerguy]

I have a Gold, 1bedroom, EOY Even years (Just got points for this year) 5440 pts. The 2022 MF was $910.

Unfortunately that will only limited value. You will need to price this aggressively or even gift it as you stated.

Hilton also does accept some deed backs, so you might want to check to see if that's an option for you:

Hilton Grand Vacations - Responsible Exit

Hilton Grand Vacations can help you maximize your vacation ownership. As an owner with Hilton Grand Vacations, you have several […]

responsibleexit.com

 

[Wolfepack88]

How about a Platinum 3BR Penthouse in the Grand Islander (28,750 points before the new conversion) every year on Week 25? Annual maintenance fee is $5,090.

 

[Nowaker]

How about a Platinum 3BR Penthouse in the Grand Islander (28,750 points before the new conversion) every year on Week 25? Annual maintenance fee is $5,090.

At 0.177 old MFpp, it's a fairly good deed, just a little worse than Flamingo 7k Platinum. Points wise, a pretty good investment.

Given getting the same number of points using Flamingo deeds, which are easy to come by for $4k + $1.5 closing, you'd need to spend a total of 4x$5.5k=$22k. So that's $20.5k asking price + $1.5k closing if you want to match the market price of ClubPoints with similar (but not equal) MFpp. I'd say -10% to compensate for a worse MFpp factor. $18k + closing.

However, having 4 Flamingo deeds (or Boulevard / Elara) is more flexible in case you want to sell some or all in the future. Selling a giant deed like 3 BR Penthouse at GI will take much more time.

Note: this is ClubPoints and MF-based economics. I do not consider home week economics because I don't know much about availability of 3 BR Penthouse Platinum unit at GI.

 

[Nowaker]

I have a Gold, 1bedroom, EOY Even years (Just got points for this year) 5440 pts. The 2022 MF was $910.

At $0.267 old MFpp, even years only, this is not only a "give out for free" but even a "give out for free, pay buyer's closing costs and leave current year points untouched for the new buyer" territory.

The only usefulness of this deed would be for home week. But for 1 BR Elara, that always has an availability? Better pick up a Blvd 5k Gold that sits at a comfy $0.19 old MFpp for $2.5k max (incl. closing) and enjoy a week in 1 BR Elara AND a week in Studio Elara for the same yearly maintenance fee.

MFpp economics at play here again.

 

[alwysonvac]

How about a Platinum 3BR Penthouse in the Grand Islander (28,750 points before the new conversion) every year on Week 25? Annual maintenance fee is $5,090.

You’ll want to deal with a broker who sells penthouse units.
I’m running out the door. I’ll send you a private message later.

 

[koalahugs]

At $0.267 old MFpp, even years only, this is not only a "give out for free" but even a "give out for free, pay buyer's closing costs and leave current year points untouched for the new buyer" territory.

The only usefulness of this deed would be for home week. But for 1 BR Elara, that always has an availability? Better pick up a Blvd 5k Gold that sits at a comfy $0.19 old MFpp for $2.5k max (incl. closing) and enjoy a week in 1 BR Elara AND a week in Studio Elara for the same yearly maintenance fee.

MFpp economics at play here again.

Thanks for the info. Sorry for the late reply. I didn't get the email notification of a comment on this thread. I was unware more covo happened.

 

[mscheribel59]

Thanks for the info. Sorry for the late reply. I didn't get the email notification of a comment on this thread. I was unware more covo happened.

At $0.267 old MFpp, even years only, this is not only a "give out for free" but even a "give out for free, pay buyer's closing costs and leave current year points untouched for the new buyer" territory.

The only usefulness of this deed would be for home week. But for 1 BR Elara, that always has an availability? Better pick up a Blvd 5k Gold that sits at a comfy $0.19 old MFpp for $2.5k max (incl. closing) and enjoy a week in 1 BR Elara AND a week in Studio Elara for the same yearly maintenance fee.

MFpp economics at play here again.

Actually it's not better to pickup a 5k Gold, as it would not allow you to pick up a week in a 1bedroom AND a week in a Studio, It would take a 1 Bedroom Platinum to do that in gold season.

 

[Bill4728]

Actually it's not better to pickup a 5k Gold, as it would not allow you to pick up a week in a 1bedroom AND a week in a Studio, It would take a 1 Bedroom Platinum to do that in gold season.

WHAT?? A gold 2 bed unit ( was worth 5000 pts ) should be able to book a 1 bd unit and a studio unit during gold season. a 1 bed platinum ( was worth 4800) would not be able to do that since it would be 200 points short.

Note using old HGVC point values.

 

[Bill4728]

In General, HGVC timeshares (in platinum and gold season) do have a significant resale value. Platinum TS are worth more than gold (even if the pts are about the same) due to the lower MFs per point.

There are a significant number of people who are willing to pay to purchase them. So you should look into selling not giving them away.

 

[koalahugs]

In General, HGVC timeshares (in platinum and gold season) do have a significant resale value. Platinum TS are worth more than gold (even if the pts are about the same) due to the lower MFs per point.

There are a significant number of people who are willing to pay to purchase them. So you should look into selling not giving them away.

Thank you Bill. I will do my best. Would like to get rid of mine either way before the end of the year so someone can use the current points. We will see what happens.

 

[Nowaker]

Thank you Bill. I will do my best. Would like to get rid of mine either way before the end of the year so someone can use the current points. We will see what happens.

Just a note, Bill said "in general". Your deed doesn't apply because it's one of the worst deeds, like I explained in a previous post (with Elara/Orlando Studio being the total worst).

 

[koalahugs]

Just a note, Bill said "in general". Your deed doesn't apply because it's one of the worst deeds, like I explained in a previous post (with Elara/Orlando Studio being the total worst).

Well there are worst considering silver or whatever... just saying. My stance still stands that I am still going to try and get rid of it by the end of the year either way (I.e. with zero profit or with even $100 profit).

 

[Nowaker]

Y'know, Silver in Marco Island is still orders of magnitude better than Elara 1 BR 3400 old / 5440 new Gold EOY.

There are two criteria that deeds can be evaluated by: MF-per-points economics (the lower the better), and home week (if it's tough to book a place with ClubPoints, home week has a value).

For example, Marco Island / Sanibel in Silver season are bad in MFpp economics and yet are still very valuable because of home week. Vegas 2 BR deeds in Gold season also hold some value because of decent MFpp. Vegas 2 BR deeds in Platinum season hold very good value because of great MFpp.

Your deed is bad in both categories. Posting it as a free giveaway on TUG is your best bet. But I wouldn't expect much, honestly...

 

[koalahugs]

Y'know, Silver in Marco Island is still orders of magnitude better than Elara 1 BR 3400 old / 5440 new Gold EOY.

There are two criteria that deeds can be evaluated by: MF-per-points economics (the lower the better), and home week (if it's tough to book a place with ClubPoints, home week has a value).

For example, Marco Island / Sanibel in Silver season are bad in MFpp economics and yet are still very valuable because of home week. Vegas 2 BR deeds in Gold season also hold some value because of decent MFpp. Vegas 2 BR deeds in Platinum season hold very good value because of MFpp.

Your deed is bad in both categories. Posting it as a free giveaway on TUG is your best bet. But I wouldn't expect much, honestly...

Thanks for the motivational speech. jk

 

[koalahugs]

I already have been screwed over time and time again with this timeshare. I certainly love conversations that tell me how much of a disappointment this purchase was....

 

[alwysonvac]

I have a Gold, 1bedroom, EOY Even years (Just got points for this year) 5440 pts. The 2022 MF was $910.

Hi @koalahugs
I’m sorry you have to sell. Hopefully you got some usage out of your HGVC ownership.
Please feel free to send me a private message if you have any questions. We’re here to help.

This was originally 3400 ClubPoints (now the new 5440 ClubPoint)
Honestly, for 3400 Clubpoints or less, the quickest way to get rid of these is to give them away. There’s simply too much supply/competition in the resale market with very little demand.

For years, the one bedroom gold weeks have been given away on the TUG Bargain Deals Forum - https://tugbbs.com/forums/index.php?forums/bargain-deals.55/

Here are some examples from 2013 to 2021

• Dump/transfer my HGVC Flamingo points (2021) - https://tugbbs.com/forums/threads/dump-transfer-my-hgvc-flamingo-points.324414/
• HGV - Las Vegas Blvd - 1 BR Gold - 3400 points annual - free (2021) - https://tugbbs.com/forums/threads/hgv-las-vegas-blvd-1-br-gold-3400-points-annual-free.313424/
• Free - Hilton Las Vegas Strip (HGVC), Floating Week (2019) - https://tugbbs.com/forums/threads/free-hilton-las-vegas-strip-hgvc-floating-week.298225/
• FREE HGVC McAlpin, Miami Beach FL (2018) - https://tugbbs.com/forums/threads/free-hgvc-mcalpin-miami-beach-fl.276711/
• Free hgvc parc soliel 3400 points eoy even 1 bedroom (2017) - https://tugbbs.com/forums/index.php...soliel-3400-points-eoy-even-1-bedroom.258500/
• 3400 Points HGVClub on International Drive FREE (2017) - https://tugbbs.com/forums/index.php?threads/3400-points-hgvclub-on-international-drive-free.257875/
• Hgvc Kingsland 1 bedroom gold week eoy odd 3400 hgvc points (2016) - https://tugbbs.com/forums/index.php...eoy-odd-3400-hgvc-points.245366/#post-1927735
• HGVC Parc Soliel(orlando florida)even year usage 1 bedroom gold week (2015) - https://tugbbs.com/forums/index.php...a-even-year-usage-1-bedroom-gold-week.234362/
• FREE - 3400 HGVC South Beach, Miami (2015) - https://tugbbs.com/forums/index.php?threads/free-3400-hgvc-south-beach-miami.232308/
• FREE HGVC Parc Soleil 1BR Gold 3400 Every Other Odd year Hilton Grand Vacation Club (2014) - https://tugbbs.com/forums/index.php...r-odd-year-hilton-grand-vacation-club.219421/
• Free Parc Soleil - Florida (2013) - https://tugbbs.com/forums/threads/free-parc-soleil-florida.203171/

 

[koalahugs]

Hi @koalahugs
I’m sorry you have to sell. Hopefully you got some usage out of your HGVC ownership.
Please feel free to send me a private message if you have any questions. We’re here to help.

This was originally 3400 ClubPoints (now the new 5440 ClubPoint)
Honestly, for 3400 Clubpoints or less, the quickest way to get rid of these is to give them away. There’s simply too much supply/competition in the resale market with very little demand.

For years, the one bedroom gold weeks have been given away on the TUG Bargain Deals Forum - https://tugbbs.com/forums/index.php?forums/bargain-deals.55/

Here are some examples from 2013 to 2021

• Dump/transfer my HGVC Flamingo points (2021) - https://tugbbs.com/forums/threads/dump-transfer-my-hgvc-flamingo-points.324414/
• HGV - Las Vegas Blvd - 1 BR Gold - 3400 points annual - free (2021) - https://tugbbs.com/forums/threads/hgv-las-vegas-blvd-1-br-gold-3400-points-annual-free.313424/
• Free - Hilton Las Vegas Strip (HGVC), Floating Week (2019) - https://tugbbs.com/forums/threads/free-hilton-las-vegas-strip-hgvc-floating-week.298225/
• FREE HGVC McAlpin, Miami Beach FL (2018) - https://tugbbs.com/forums/threads/free-hgvc-mcalpin-miami-beach-fl.276711/
• Free hgvc parc soliel 3400 points eoy even 1 bedroom (2017) - https://tugbbs.com/forums/index.php...soliel-3400-points-eoy-even-1-bedroom.258500/
• 3400 Points HGVClub on International Drive FREE (2017) - https://tugbbs.com/forums/index.php?threads/3400-points-hgvclub-on-international-drive-free.257875/
• Hgvc Kingsland 1 bedroom gold week eoy odd 3400 hgvc points (2016) - https://tugbbs.com/forums/index.php...eoy-odd-3400-hgvc-points.245366/#post-1927735
• HGVC Parc Soliel(orlando florida)even year usage 1 bedroom gold week (2015) - https://tugbbs.com/forums/index.php...a-even-year-usage-1-bedroom-gold-week.234362/
• FREE - 3400 HGVC South Beach, Miami (2015) - https://tugbbs.com/forums/index.php?threads/free-3400-hgvc-south-beach-miami.232308/
• FREE HGVC Parc Soleil 1BR Gold 3400 Every Other Odd year Hilton Grand Vacation Club (2014) - https://tugbbs.com/forums/index.php...r-odd-year-hilton-grand-vacation-club.219421/
• Free Parc Soleil - Florida (2013) - https://tugbbs.com/forums/threads/free-parc-soleil-florida.203171/

No I haven't gotten to use it. I was in graduate school at the time I was pressured into buying, couldn't use the points, then moved it over to RCI, then pandemic, then lost all the points, so no, I've spent over 20k on it and haven't gotten a single usage out of it.

 

[koalahugs]

Hi @koalahugs
I’m sorry you have to sell. Hopefully you got some usage out of your HGVC ownership.
Please feel free to send me a private message if you have any questions. We’re here to help.

This was originally 3400 ClubPoints (now the new 5440 ClubPoint)
Honestly, for 3400 Clubpoints or less, the quickest way to get rid of these is to give them away. There’s simply too much supply/competition in the resale market with very little demand.

For years, the one bedroom gold weeks have been given away on the TUG Bargain Deals Forum - https://tugbbs.com/forums/index.php?forums/bargain-deals.55/

Here are some examples from 2013 to 2021

• Dump/transfer my HGVC Flamingo points (2021) - https://tugbbs.com/forums/threads/dump-transfer-my-hgvc-flamingo-points.324414/
• HGV - Las Vegas Blvd - 1 BR Gold - 3400 points annual - free (2021) - https://tugbbs.com/forums/threads/hgv-las-vegas-blvd-1-br-gold-3400-points-annual-free.313424/
• Free - Hilton Las Vegas Strip (HGVC), Floating Week (2019) - https://tugbbs.com/forums/threads/free-hilton-las-vegas-strip-hgvc-floating-week.298225/
• FREE HGVC McAlpin, Miami Beach FL (2018) - https://tugbbs.com/forums/threads/free-hgvc-mcalpin-miami-beach-fl.276711/
• Free hgvc parc soliel 3400 points eoy even 1 bedroom (2017) - https://tugbbs.com/forums/index.php...soliel-3400-points-eoy-even-1-bedroom.258500/
• 3400 Points HGVClub on International Drive FREE (2017) - https://tugbbs.com/forums/index.php?threads/3400-points-hgvclub-on-international-drive-free.257875/
• Hgvc Kingsland 1 bedroom gold week eoy odd 3400 hgvc points (2016) - https://tugbbs.com/forums/index.php...eoy-odd-3400-hgvc-points.245366/#post-1927735
• HGVC Parc Soliel(orlando florida)even year usage 1 bedroom gold week (2015) - https://tugbbs.com/forums/index.php...a-even-year-usage-1-bedroom-gold-week.234362/
• FREE - 3400 HGVC South Beach, Miami (2015) - https://tugbbs.com/forums/index.php?threads/free-3400-hgvc-south-beach-miami.232308/
• FREE HGVC Parc Soleil 1BR Gold 3400 Every Other Odd year Hilton Grand Vacation Club (2014) - https://tugbbs.com/forums/index.php...r-odd-year-hilton-grand-vacation-club.219421/
• Free Parc Soleil - Florida (2013) - https://tugbbs.com/forums/threads/free-parc-soleil-florida.203171/

Yeah, I'd likely give it away so long as someone covers the closing costs. Really all I care at the end of the day is to not lose any more money towards hilton. Its been a very bitter journey. Not even bitter sweet.