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RCI points timeshare - HELP! can it be assumed?

luckybunny

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here is what I understand:

If a resort is RCI points resort, you can pay the resort a fee to convert your week to RCI points account.

Here is the problem, I am getting two conflicting opinions from two different brokers as to the assumability:

- One broker say that unless I already have a RCI points account, I can not buy a RCI points timeshare and receive the points. In other words, if I don't already have a RCI points account, even if I buy a RCI points timeshare, it is only a week timeshare, not a point timeshare.

- The other broker, as well as several eBay listings I saw, say that a unit that has been converted to RCI points can be purchased as a points timeshare, by paying $199 (or $399?) for a new RCI points account and assume the timeshare as RCI points account.

I am confused as to these two different opinions, does anyone have any experience in purchasing a RCI points resale? how does it work? Can it be assumed as RCI points timeshare?
 
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I assumed from ebay

luckybunny said:
here is what I understand:

If a resort is RCI points resort, you can pay the resort a fee to convert your week to RCI points account.

Here is the problem, I am getting two conflicting opinions from two different brokers as to the assumability:

- One broker say that unless I already have a RCI points account, I can not buy a RCI points timeshare and receive the points. In other words, if I don't already have a RCI points account, even if I buy a RCI points timeshare, it is only a week timeshare, not a point timeshare.

- The other broker, as well as several eBay listings I saw, say that a unit that has been converted to RCI points can be purchased as a points timeshare, by paying $199 (or $399?) for a new RCI points account and assume the timeshare as RCI points account.

I am confused as to these two different opinions, does anyone have any experience in purchasing a RCI points resale? how does it work? Can it be assumed as RCI points timeshare?
I purchased a TS on ebay that had already been converted to points. At the time I was not a member of RCI Points as it was my first TS. I assumed the sellers points accounts. In fact there was 30,000 existing points in the account from the previous year that I got as part of the purchase plus the 2006 points when I paid the MF.

The closing company had the seller and myself both sign a form supplied by RCI and charged me $199. The account number did not change but was transferred to me. Took a few months but didn't have any problems. I used a closing company called emidsouth, Inc. and was very pleased with their service.

I don't know what the brokers are telling you but I know how it worked with my first TS. If I buy future TS's and add the points to my account I think the transfer fee is only $99. Good luck

Mike S.
 

AwayWeGo

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[triennial - points]
Ditto.

We bought an eBay el cheapo -- under $200 -- RCI points timeshare last summer. Adding in closing costs, maintenance fees, RCI Points set-up fee, etc., took the total initial outlay up to about $1,000.

For that, we get 15,000 points each year. More important, we get the option of doing Points For Deposit with the non-points timeshare weeks we already owned before we took that minimal foray into points.

If we do that with all (i.e., both) our other weeks, the points total including our recent purchase will come out to 132,000 points -- more if our standard-grade upgrades to Silver Crown & even more if our Silver Crown resort upgrades to Gold Crown. (I'm not holding my breath.)

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

luckybunny

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So, once the ownership is converted points, it stays as points ownership and I can purchase it as such and get the annual points?

I don't know how some of these brokers can work in this field and don't know what they are talking about!!! it is frustrating....

I even call RCI, and they said a points timeshare "RESALE" is up to the resort to keep it as points or weeks!!! This is after 4 transfers and I supposedly was speaking to the expert in this in the end.

Maybe RCI is too big and has too many rules that even their own people and the brokers that sells timeshares don't understand it.
 

brucecz

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Boca is correct as we paid a total costof only $795 including a transfer of ownership for our First RCI Points Resort than we will no longer need once we get the second RCI Points resort we bought a few months ago into our name.

The OP IMHO needs to make sure that it is stated the in the contract as a addendum item that the ownership is already converted to RCI Points and there will be no costs to convert that ownership to be used for RCI Points.

The OP IMHO should also have put into the contract as a addendum that the only costs to the buyer would be the $199 to start the OP RCI Points account and IF needed another $49 to transfer any left over RCI Points the seller may include as part of the deal.

Bruce :D


BocaBum99 said:
If a week is converted, it can transfer to anyone of legal age as a points resort. Any week in RCI Points only needs to be converted once. This is a benefit vs. other systems like Club Sunterra.
 

Lee B

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luckybunny said:
I even call RCI, and they said a points timeshare "RESALE" is up to the resort to keep it as points or weeks!!!
This is correct. For example, the Pahio resorts on Kauai do not allow a points membership transfer. A buyer or an heir only gets a deed for a week. All that points money paid to Pahio disappears, and the next owner has to pay Pahio again to have points.
 

Mel

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In most cases, the conversion to points is a separate contract from the purchase contract (but might be a single contract if bought directly from developer as a points ownership). The resort includes in the Points contract either a provision that the points contract transfers with the underlying ownership, or it does not.

In the case of Pahio, the points contact does not transfer, so yes, the fee paid to convert is lost, and must be paid again by the new owner. This may be the cause of the confusion - it depends on the conversion constract language.

Of couse, the first reseller is either only familiar with resorts with contracts like Pahio, or is unaware of the form RCI uses. In some ways they are saying the same thing - the first is just saying that you must arrange to set up an RCI points membership to accept your new points - either by already having one, or by paying RCI $199 to set up a new account, which is done at the same time as transferring ownership in their records.
 

timeos2

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If they can be sold that should be that

Lee B said:
This is correct. For example, the Pahio resorts on Kauai do not allow a points membership transfer. A buyer or an heir only gets a deed for a week. All that points money paid to Pahio disappears, and the next owner has to pay Pahio again to have points.
And people wonder why timeshare ownership is often considered a fools game. What kind of nonsense is this? If an RCI Points is transferrable why should a resort be able to say it isn't? Maybe those who think the whole thing is rigged simply to take money from the suckers, er, buyers are closer to the truth than we think.
 

travelhound

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my resort does not allow point transfer on resale

I just upgraded my resort from weeks to points and was told if we resell it ourselves we may resell the week only. Not the point option. That seems to agree with RCI's statment. It's a little dissapointing, but it might help them maintain the resale price which could be good for us.
 

timeos2

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But the resort can't say that - only RCI can. What do they say?
 

rickandcindy23

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Madge answered this question a few weeks ago.

Someone was interested in Pahio week that was a points conversion. The new owner was told that points would not transfer. Madge said that once a week is converted, it is always going to be points.

This was great news for me. We own a Pahio week and want to get a points week at the same resort. We would sell ours. I want points instead.
 

travelhound

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It would be nice if RCI had something in writing. My points account is not setup yet, but I am hoping to find something then. I ended up picking up extra time with the upgrade and may end up selling one of my weeks. I expect I could move it quicker if it were points.
 
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