RCI Points - resale - is that possible?

[Ninjaneer80]

Hello everyone,

I just bought from the developer of vacation village ( massennutten) a time share that the previous owner upgraded so this was 20K , 520 a year maint , came with one free week each year and 58K of RCI points.

The question I have , can you buy on the secondary market time shares that gets you started in the RCI points program ? The developer was telling me you can only get points from the developer and I wasn't sure how true that is.

I just signed yesterday and I leave tomorrow but I saw this on eBay and it made me want to post here and ask the question.

I also have a week based time share in RCI, that now I am getting into points systems I was going to convert it to points.

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Appreciate any advice on this topic.

If you truly can get points on resale , do I go into the office tomorrow and back out and get the eBay listing ?

 

[kanerf]

Big Lie. All of my RCI Points contracts are resale.

 

[rickandcindy23]

Yes, you need to rescind. That is all a bunch of bunk. You can buy RCI Points resale and save about $19,000. Think of how many years of maintenance fees you can pay with that savings.

 

[Ninjaneer80]

Is rescinding easy ? Can I do it remotely aka email or need to try in person before leaving.

 

[Ninjaneer80]

The only part I forgot to add to the post , I traded in my older VV that is costing me around 900 a year.

If I recind , I got to figure out how to give it away / get rid of it to get into RCI points

 

[escanoe]

Is rescinding easy ? Can I do it remotely aka email or need to try in person before leaving.

You need to do it in writing and be sure you have delivery confirmation (a record) of the letter’s delivery.

They will honor it.

 

[Ninjaneer80]

I am still on site , should I do it in person , or easier to do over mail ?

I don't even know where to mail it , unless it's in the package of paperwork

 

[Passepartout]

I am still on site , should I do it in person , or easier to do over mail ?

I don't even know where to mail it , unless it's in the package of paperwork

Send a letter. Certified mail is best. The address will be in your paperwork. Just a simple, I/We wish to cancel sale number XXXXX dated 11/XX 2022 signed ___________________husband _________________wife

 

[Ninjaneer80]

Send a letter. Certified mail is best. The address will be in your paperwork. Just a simple, I/We wish to cancel sale number XXXXX dated 11/XX 2022 signed ___________________husband _________________wife

Thanks , that is a big help !! I will do that soon as I get home on Tuesday, I am off that day so I can quickly pop over to the post office.

 

[rickandcindy23]

Do it as soon as possible, do not procrastinate, and I would do it tomorrow at the local post office to the resort. Be sure to send it return receipt requested, so you have proof they received the letter.

Why RCI points? What resort do you currently own?

 

[Ninjaneer80]

Do it as soon as possible, do not procrastinate, and I would do it tomorrow at the local post office to the resort. Be sure to send it return receipt requested, so you have proof they received the letter.

Why RCI points? What resort do you currently own?

I currently own VV -- massanutten shenandoah villas AB combo

And

Atalaya Towers ( weeks system )
Resort ID: 1322
Unit:
Bedroom: 3 Bedroom
Sleeps: 08
Season: R


Why points , I honestly don't have a good answer for you , I thought it gave you ability to pick 3-4 days exact days for figuring out what weeks work best.

 

[BJRSanDiego]

I am still on site , should I do it in person , or easier to do over mail ?

I don't even know where to mail it , unless it's in the package of paperwork

In your paperwork is (or should be) the instructions for rescinding including where you send it, the method of transmittal, etc. You need to follow the instructions 100%. Both you and your wife need to sign.

 

[Passepartout]

We have both RCI Weeks and Points. When you own Points, the weeks account is included for no extra cost.

 

[Ninjaneer80]

We have both RCI Weeks and Points. When you own Points, the weeks account is included for no extra cost.

That's great , I only have weeks now but looking to get into points.

Looks like I messed up on upgrading my unit on this trip.

If I rebuy to get into points , can I take my week time share and enroll that into points ?

The developer guy was telling me something about that.

 

[Passepartout]

That's great , I only have weeks now but looking to get into points.

Looks like I messed up on upgrading my unit on this trip.

If I rebuy to get into points , can I take my week time share and enroll that into points ?

The developer guy was telling me something about that.

Not usually without significant extra charge. The conversions often cost several thou$and$. Better to buy resales already converted. Or simply keep one in each system.

 

[DaveNV]

1. Figure everything the Developer told you was a lie of some sort, to get you to pay him a big fat sales commission. Don't believe any of it. The standard train of thought is "If his lips were moving, he was lying."

2. Rescind immediately, while you have time. The clock is ticking. The instructions are inside the paperwork they gave you, often hidden inside the back cover of a book, or buried in fine print on a disk, or some such. But it is required by law to be there. Find it, follow the instructions to the letter, and do it NOW. Do not wait.

3. Do not contact them and tell them anything - they will only try to stall you till after the rescission period, or talk you out of rescinding. Just do the rescission, then do your research without pressure, and make an informed decision about how to move forward. If you later decide you want to buy this deal again, you can do so. But why would you? You can buy the same thing for pennies on the dollar.

4. After it's done, spend time on Tug figuring out what you can do to get what you want - resale. There is plenty of help here, and nobody has an agenda. Tug is made up of owners who have decades of experience, and they're willing to share what they've learned.

4. Good luck!

Dave

 

[Ninjaneer80]

1. Figure everything the Developer told you was a lie of some sort, to get you to pay him a big fat sales commission. Don't believe any of it. The standard train of thought is "If his lips were moving, he was lying."

2. Rescind immediately, while you have time. The clock is ticking. The instructions are inside the paperwork they gave you, often hidden inside the back cover of a book, or buried in fine print on a disk, or some such. But it is required by law to be there. Find it, follow the instructions to the letter, and do it NOW. Do not wait.

3. Do not contact them and tell them anything - they will only try to stall you till after the rescission period, or talk you out of rescinding. Just do the rescission, then do your research without pressure, and make an informed decision about how to move forward. If you later decide you want to buy this deal again, you can do so. But why would you? You can buy the same thing for pennies on the dollar.

4. After it's done, spend time on Tug figuring out what you can do to get what you want - resale. There is plenty of help here, and body has and agenda. Tug is made up of owners who have decades of experience, and they're willing to share what they're learned.

4. Good luck!

Dave

Thanks Dave. We are packing up and driving home today. I signed on Saturday, I will have the rescind in the mail tomorrow morning ( Tuesday)
Normally I don't rush into a thing like this , not sure what happen but soon as he said you have to get RCI points from Developer I was like uhmmmm , soni came to TUG right away to look for myself.

If there was any benefit in owning direct I would keep it , but it doesn't appear to be.

 

[Ninjaneer80]

My assumption when I rescind, they return the deposit back to the credit card ?

 

[Passepartout]

My assumption when I rescind, they return the deposit back to the credit card ?

Yes. And they are under no obligation to inform you of the progress or when the transfer of funds to your CC takes place. It can be up to 45 days. Just watch your CC account.

 

[AwayWeGo]

All of my RCI Points contracts are resale.

Same here -- eBay all the way.

Plus, all but 1 included free closing, free resort transfer, & free points (i.e., paid-ahead maintenance fees).

It's not only lots cheaper to buy points timeshares resale, it's way cheaper buying them resale than getting a timeshare week that you already own converted to points.

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

 

[DaveNV]

Thanks Dave. We are packing up and driving home today. I signed on Saturday, I will have the rescind in the mail tomorrow morning ( Tuesday)
Normally I don't rush into a thing like this , not sure what happen but soon as he said you have to get RCI points from Developer I was like uhmmmm , soni came to TUG right away to look for myself.

If there was any benefit in owning direct I would keep it , but it doesn't appear to be.

Good plan. Be sure to send your rescission letter Certified mail. You don't need to send it at a higher level, such as Registered, unless you choose to. The postmark date of when you SENT the letter is what counts, not when they received it. Make sure to send it to the rescission address listed in your paperwork - there is often a special address for that. There is no need to send multiple letters to multiple addresses. Just follow what it says in your paperwork, and you'll be fine. The trick is using Certified mail - and be sure to save that sending receipt. It will be your recourse if they say they never received the letter.

They will do their part of the rescission quietly, and you may have no further notice or letters from them. If they gave you anything like a tablet with documents on it, they may ask that it be returned. The deposit will be credited back to your card, or the charge cancelled, or something. It depends on how you did the deposit. Note that if they opened a new card for you, the cancellation of the charges may not cancel he card itself. You'll have to followup and decide whether you want to keep the card. If not, you'll probably need to cancel it yourself.

Congratulations on saving $20,000!

Dave

 

[Ninjaneer80]

Good plan. Be sure to send your rescission letter Certified mail. You don't need to send it at a higher level, such as Registered, unless you choose to. The postmark date of when you SENT the letter is what counts, not when they received it. Make sure to send it to the rescission address listed in your paperwork - there is often a special address for that. There is no need to send multiple letters to multiple addresses. Just follow what it says in your paperwork, and you'll be fine. The trick is using Certified mail - and be sure to save that sending receipt. It will be your recourse if they say they never received the letter.

They will do their part of the rescission quietly, and you may have no further notice or letters from them. If they gave you anything like a tablet with documents on it, they may ask that it be returned. The deposit will be credited back to your card, or the charge cancelled, or something. It depends on how you did the deposit. Note that if they opened a new card for you, the cancellation of the charges may not cancel he card itself. You'll have to followup and decide whether you want to keep the card. If not, you'll probably need to cancel it yourself.

Congratulations on saving $20,000!

Dave

Is this the cancel details I am looking for ?

 

[Passepartout]

Is this the cancel details I am looking for ?

View attachment 69256

Yep. That's it.

 

[Ninjaneer80]

Yep. That's it.

perfect, I just finished typing my letter and heading to the post office now

 

[DaveNV]

perfect, I just finished typing my letter and heading to the post office now

Sounds like you have it sorted out. Note the wording says "Certified, return receipt requested," That's the post office level they expect you to use. And that special P.O. Box mailing address is also the one to send it to.

Congratulations again. I'm seeing you saved $22,490.00, plus interest you'd have paid over those financed years. You can do an awful lot of vacationing with that much money!

I also see it was a Biennial contract, so you'd have paid that much for something you'd only get to use every other year. Boy, did you dodge a bullet!

Dave