reassurance for a newbie [bought Celebrity Resort Lake Buenavista.]

[jasondega]

Hi everyone,

Hi everyone, I've been thinking about a timeshare for a couple of years because a coworker was really enjoying his bluegreen points. I decided to do a little research and found out that these things go for pennies on the dollar on ebay. After watching a few auctions and before I found tug I decided to bid on one and I won it.

I've won a deeded ownership is for a Three Bedroom Lockoff (2BR/1BR), Two Bathroom FIXED RED WEEK 44, which has also been converted to 71,000Annual RCI Points. This is at aCelebrity Resort Lake Buenavista.

The seller is paying all closing costs and I only had to pay $1 plus maintenance fees of $764 for 2011. This is annual use and my week and all points are avaliablassuminge to use this year. (Assuming we actually close). Its a week I can use and I'm als o interested in trading for other locations in georgia and south carolina. So the flexability of points seems goodto me.

I guess compared to the developer prices $1 and maintenance fees isn't a bad deal.
But is there anything you guys think I'm not considering? The maint fee to points ratio doesn't seem too bad to me but I'm very green! I still have 9 days to riscend so I'm trying to do my homework now that I found tug.

Thanks for your comments!

Jason

 

[flyguy]

Your Celebrity Resort purchase

I don't know what the effect will be on owners of the various resorts but here is a link to another forum you might wish to explore:

http://www.tugbbs.com/forums/showthread.php?p=1019859

This is further update:

http://www.insidethegate.com/2011/01/celebrity-resorts-emerges-from-bankruptcy/

 

[ronandjoan]

May I be the first to welcome you to TUG! You have found the place to get answers! We have only been timesharing since 2004, so we are relative newcomers too, although we have plunged in full-time! !

You have begun the BEST way: you bought resale!! And even got your free closinh costs. Good for you.

Then,you also bought a week you can use yourself. I envision many happy family vacations.

Then you bought a lock out so you can split your week into two! And
You've also got Rci points....

You're going to have lots of fun planning how to use your purchase....

Others may have other ideas.

 

[timeos2]

As Joan said you avoided the classic mistakes of most newbies by buying resale and buying what you want to use. The RCI Points should serve you well as they open a ton of opportunities that a single resort can't offer but realize there are additional costs for that flexibility. As long as you understand those going in (RCI Membership, exchange fees, guest fees, short stay premiums - they can add up if you're not careful) then you should be fine.

Great start & welcome to TUG. You'll get all the help you need here if you ask.

 

[AwayWeGo]

Joining RCI Points.

But is there anything you guys think I'm not considering?

You'll need to pay whatever it costs to join up with RCI Points, plus ongoing annual RCI Points membership fees.

Without that, it's just a straight fixed-week unit.

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

 

[jasondega]

Thanks everyone! I appreciate all your comments!

Thanks for the welcome Joan!

Timeos2 and awaywego... I had done some research into the RCI points and fees for exchanges so I knew about those in fact my tansfer fees and the first years membership were paid by the seller so I got a deal on that.

The only thing I'm concerned about now is that the property was advertised as Celebrity Resorts which I undrstand has now changed to Legacy Vacation Club and they are coming out with thier own internal points system.

I really want to have the RCI points... i'm not really interested in changing them so I'm hoping that I won't somehow loose the affiliaton with RCI.

Jason

 

[timeos2]

Thanks everyone! I appreciate all your comments!

Thanks for the welcome Joan!

Timeos2 and awaywego... I had done some research into the RCI points and fees for exchanges so I knew about those in fact my tansfer fees and the first years membership were paid by the seller so I got a deal on that.

The only thing I'm concerned about now is that the property was advertised as Celebrity Resorts which I undrstand has now changed to Legacy Vacation Club and they are coming out with thier own internal points system.

I really want to have the RCI points... i'm not really interested in changing them so I'm hoping that I won't somehow loose the affiliaton with RCI.

Jason

No worry there. Once your week is accepted into RCI Points it cannot be retroactively rmoved. Consider it a "grandfathering" that was paid for in your original membership fee. Even if the resort decides to drop RCI Points you can still get the use as points as before. Just don't let the RCI oints membership lapse or there cold be an issue with reinstatement.

 

[teepeeca]

Welcome to the timesharing community, and to TUG. Sounds as if you did "well"--- BUT---now the "spoil-sport" comment.

Has to do with "Celebrity". From personal experience of that company (Celebrity) taking over as a manager of a resort that I own. After the original "developer" sold out to Celebrity, and they took over the management of the resort, the maintenance fees "went through the roof"; the HOA was "packed" with Celebrity employees; a large special assessment was "announced"---no vote by owners, or "WHY" the SA was needed; and many $$$ "missing".

The owners DID get back the resort, and hired a different, and BETTER, management company. However, with Celebrity managing the resort, the resort came within days of closing permanently --- as a timeshare.

Please look into what Celebrity tried to do to Hanalei Bay Resort (Princeville, Kauai); David Walley's (Genoa, NV---by Lake Tahoe); and White Sands (Honolulu, Hi) now closed as a timeshare.

I don't wnat to "rain on your parade", but think you should be "fore-warned".

Tony

 

[jasondega]

Welcome to the timesharing community, and to TUG. Sounds as if you did "well"--- BUT---now the "spoil-sport" comment.

Has to do with "Celebrity". From personal experience of that company (Celebrity) taking over as a manager of a resort that I own. After the original "developer" sold out to Celebrity, and they took over the management of the resort, the maintenance fees "went through the roof"; the HOA was "packed" with Celebrity employees; a large special assessment was "announced"---no vote by owners, or "WHY" the SA was needed; and many $$$ "missing".

The owners DID get back the resort, and hired a different, and BETTER, management company. However, with Celebrity managing the resort, the resort came withing days of closing permanently --- as a timeshare.

Please look into what Celebrity tried to do to Hanalei Bay Resort (Princeville, Kauai); David Walley's (Genoa, NV---by Lake Tahoe); and White Sands (Honolulu, Hi) now closed as a timeshare.

I don't wnat to "rain on your parade", but think you should be "fore-warned".

Tony

Tony,

Thanks for the info! I am glad to know it ahead of time. I suppose that's the advantage of buying resale. If the resort does go belly up and shut down... I'm really only out a dollar and any maintenance fees that I've paid. So while that would be really stressful and I'm sure I'd rant up a storm... I don't think I'd feel as bad as if I'd paid full price.

JMS