Restrictions placed on non-club resale points for HICV

[TUGBrian]

Saw this image posted on FB, wanted to share it here as useful information for anyone considering buying resale:

 

[tschwa2]

These are the restrictions on Trust points when resold. The 3 (mandatory) resorts, Myrtle beach, Gatlinburg, and Lake Geneva would not have these restrictions. These restrictions were specifically written into the 130+ page offering statement for the trust.

They can't retro those restrictions into the other 3 resorts.

I still question the external exchange one and the home resort only. I think the home resort only means trust inventory and not the specific contracted unit on the beneficial interest. The external exchange (no rci or II) isn't in that original offering statement. If they still have to pay the annual membership fee, I would think it includes rci. If they don't pay that fee than, yeah maybe.

No one has stepped up saying they have resale trust points so there has been no first hand confirmation that HICV is enforcing these restrictions although the offering terms certainly suggests they can.

 

[TUGBrian]

thanks for the clarification/distinction!

 

[Bmatrose]

thanks for the clarification/distinction!

I was the one that posted it on Facebook and tschwa2 is correct, those are the rules for resale Trust points only, not the 3 mandatory point resorts.

 

[bizaro86]

I have a HICV mandatory points resort purchased resale and many of those definitely don't apply.

 

[Tank]

This makes those 3 resort resales worth some money.

 

[Bmatrose]

I have a HICV mandatory points resort purchased resale and many of those definitely don't apply.

correct its only for resale trust points

 

[TUGBrian]

sadly while those 3 are worth more than the rest, its still not very much!

 

[Nowaker]

This makes those 3 resort resales worth some money.

Not very much though. Lake Geneva 102,500 pts went for $1,104 on Ebay in November. https://www.ebay.com/itm/165119463571

 

[Tank]

Not very much though. Lake Geneva 102,500 pts went for $1,104 on Ebay in November. https://www.ebay.com/itm/165119463571

those are the cheap ones , but $1,104 more than any of the others not in the big 3
That’s a great deal, I would not sell for that , people need to jump on these to add points reasonably when they can. Those are not taken aggressively ROFR either.

fewer and fewer of these available and at a decent MF

oh and resalable -cha-Ching

 

[Mongoose]

Saw this image posted on FB, wanted to share it here as useful information for anyone considering buying resale:

View attachment 45780

You have to love that they bury the poison pill 5 bullet points down.

 

[Mongoose]

Not very much though. Lake Geneva 102,500 pts went for $1,104 on Ebay in November. https://www.ebay.com/itm/165119463571

They are getting much harder to find these days. I bought three about 8 years ago for $1 each.

 

[Nowaker]

I have a HICV mandatory points resort purchased resale and many of those definitely don't apply.

Would you mind clarifying which do and which don't apply? Here's an OCRized list of all these rules. A short applies / doesn't apply would be great. Thanks in advance!

- Usage will be in points, not days
- Points will be good for one Usage Year
- Points do not roll over to the following usage year and cannot be extended
- Reservation must use same year points of when the reservation is checking in
- Can only travel to the resort where the points are allocated from
- Reservation must check in and out by the points' expiration date
- Booking Window is six months or less prior to arrival
- Secure any unit type as long as the points are available for use.
- Minimum of two nights
- May check in any day
- Cannot borrow or rent points
- All fees must be paid at time booking
- No external exchanges allowed (Ex. RCI Interval International, Etc)
- May NOT send a guest

 

[bizaro86]

I own a Lake Geneva resale which is one of the ones that transfers as points. I've put answers in your quote in caps based on my experience with that ownership.

Would you mind clarifying which do and which don't apply? Here's an OCRized list of all these rules. A short applies / doesn't apply would be great. Thanks in advance!

- Usage will be in points, not days TRUE
- Points will be good for one Usage Year FALSE
- Points do not roll over to the following usage year and cannot be extended FALSE
- Reservation must use same year points of when the reservation is checking in FALSE
- Can only travel to the resort where the points are allocated from FALSE
- Reservation must check in and out by the points' expiration date FALSE (or sort of true, if you mean the extended expiration date)
- Booking Window is six months or less prior to arrival FALSE (booking window same as regular ~10 months)
- Secure any unit type as long as the points are available for use. TRUE (except for signature units available only at the last minute)
- Minimum of two nights TRUE
- May check in any day TRUE
- Cannot borrow or rent points FALSE
- All fees must be paid at time booking TRUE
- No external exchanges allowed (Ex. RCI Interval International, Etc) FALSE
- May NOT send a guest FALSE

 

[tony_i]

I own a Lake Geneva resale which is one of the ones that transfers as points. I've put answers in your quote in caps based on my experience with that ownership.

This is the same case for me owning at lake Geneva and South beach.

I just want to clarify no. 1 for south beach and Gatlinburg deeds. You can actually book days instead of points at what is called home access and resort access. Home access is basically booking your deeded week and unit at 13-36 month out, and no reservation fee. Resort access is 10-13 month out at your deeded resort, and it could be a 7 night minimum stay, if I remember correctly. Not sure if it works the same with lake Geneva deeds having different type of points (udi) and some very small contracts. I have never travelled to either of my deeded properties.


Sent from my iPhone using Tapatalk

 

[Bmatrose]

Would you mind clarifying which do and which don't apply? Here's an OCRized list of all these rules. A short applies / doesn't apply would be great. Thanks in advance!

- Usage will be in points, not days
- Points will be good for one Usage Year
- Points do not roll over to the following usage year and cannot be extended
- Reservation must use same year points of when the reservation is checking in
- Can only travel to the resort where the points are allocated from
- Reservation must check in and out by the points' expiration date
- Booking Window is six months or less prior to arrival
- Secure any unit type as long as the points are available for use.
- Minimum of two nights
- May check in any day
- Cannot borrow or rent points
- All fees must be paid at time booking
- No external exchanges allowed (Ex. RCI Interval International, Etc)
- May NOT send a guest

These rules are for resale Trust Points, not the 3 deeded resorts that transfer as points.

 

[Nowaker]

I own a Lake Geneva resale

Ah, Okay. I misunderstood "HICV mandatory points resort purchased resale" as "Trust Points".

So this still remains unanswered:

No one has stepped up saying they have resale trust points so there has been no first hand confirmation that HICV is enforcing these restrictions although the offering terms certainly suggests they can.

 

[tschwa2]

Ah, Okay. I misunderstood "HICV mandatory points resort purchased resale" as "Trust Points".

So this still remains unanswered:

Yes

 

[Bmatrose]

Ah, Okay. I misunderstood "HICV mandatory points resort purchased resale" as "Trust Points".

So this still remains unanswered:

correct, ive been trying to find a resale trust owner to verify but no one on here or the facebook pages have any experience.

 

[wbhiggins03]

Similar but not the exact question, but does anyone know how buying resale points count when you already have club points? We are close to the next level but not sure if we bought retail, they would count. Thanks.

 

[Mongoose]

Similar but not the exact question, but does anyone know how buying resale points count when you already have club points? We are close to the next level but not sure if we bought retail, they would count. Thanks.

Resale does not work anymore for Elite status. I blew it back in 2015. I had 272K and should have grandfathered in at 300K all with resale back then. I think in 2017 the blocked elite for resale.

 

[Bmatrose]

Similar but not the exact question, but does anyone know how buying resale points count when you already have club points? We are close to the next level but not sure if we bought retail, they would count. Thanks.

no they will not count

 

[sonofaslan]

I was the one that posted it on Facebook and tschwa2 is correct, those are the rules for resale Trust points only, not the 3 mandatory point resorts.

Can you link me to the Facebook group?

 

[ltdan]

Good afternoon. I think this is the best place to put my question, though I think it is a rehash of what was already asked. I own a week in Cape Canaveral (formally Ron Jon's) and was converted to 175,000 points years ago. After some discussion with the sales team, I found out that if I bought a minimum purchase of 30,000 additional points, then I can get preferred status as a Prime Platinum member (the names of the levels make me laugh!). So I did and received the new benefits. Then this summer I bought out someone's Lake Geneva TS with their 112,500 points. These combined put me over the 300,000 point level and SHOULD have put me into Preferred Platinum status (as opposed to Prime Platinum......see what I mean????). Anyway, I got off the phone with them today and they said even though I bought points from one of the three, they do NOT count towards my level/status. This, needless to say, somewhat disheartened me.

Could anyone confirm that what I was told is true and the points do not count towards my status? And if so, is there a way to remedy that (like buy more "retail" points)?

Thank you,

 

[golfman]

That is correct. If you purchase resale from Myrtle Beach, Gatlinburg or Lake Geneva the points do transfer but they DO NOT count toward your status level. To bring your original Cape Canaveral deed into Prime Platinum the 30,000 point purchase is somewhat typical. To bring the 112,500 points into the system so they count towards status they typically will require you to make a purchase larger than 30,000 points. They have run a special in each of the last 2 years that made it easier to bring a resale deed so that it counts towards status but there is no guarantee it will be offered again. The increase in status is nice but since your points already transfer as points I myself wouldn't spend a whole lot just to increase a level.