ROFR / Buyback by HGVC

[MikeG]

My wife inherited 2 silver weeks from her grandparents. We used this year, but paying maintenance fees for both is not an option for us. Both are 4100 point silver weeks in Orlando. When I called HGVC, they said they would let us put some of the money towards a better week (less maintenance fees). I have been reading TUG like crazy, and am looking for some options. If I set up a sale to another relative at a low price, is there a chance that they would buy it back? I've read the selling threads, but wondered if this is an option. Thanks,

 

[Sandy VDH]

If it is a sale to a family member, I believe that ROFR is waived. You do have to show relationship however.

 

[capjak]

My wife inherited 2 silver weeks from her grandparents. We used this year, but paying maintenance fees for both is not an option for us. Both are 4100 point silver weeks in Orlando. When I called HGVC, they said they would let us put some of the money towards a better week (less maintenance fees). I have been reading TUG like crazy, and am looking for some options. If I set up a sale to another relative at a low price, is there a chance that they would buy it back? I've read the selling threads, but wondered if this is an option. Thanks,

A couple thoughts:

I do not believe HGVC Silver weeks get bought back that often based on other posts on tug, HGVC is most interested in Platinum and Gold.

Secondly you can sell it for a high price to your relative and give the relative a "gift" back after the sale.

Thirdly If it is bought back than you are rid of the unit.

 

[DEROS]

Why not sell

Some options:

1. Read about how to sell in E'bay, start the bid a $1 with no reserve. No matter how much you get for it, you are still ahead because your wife did not pay anything for them.

2. Get get a reputable salesperson, like Seth or Judy, and sell it for a ridiculous low price to under cut all the other TS for sale.

3. Donate one of timeshare

4. Don't know if this will work, but request that HGVC give you retail value of both weeks (not just one). In return you will upgrade to a gold/platinum season worth $10,000 or more than the combined total of your two TS weeks. I have read in this forum, that HGVC was doing this for the new Kingsland. Of course $10,000 is a lot of money but if you think about it, you are only paying (assuming 9600pts) $1.04 per point. That is the lowest purchase price I have read about for any HGVC.

BTW: what I notice about HGVC MF is that it does not go by season or points. MF are based on number of rooms or type of room. So, get the type of room you want with the most amount of points you can afford to buy.

 

[Talent312]

If it is a sale to a family member, I believe that ROFR is waived. You do have to show relationship however.

Perhaps, but I saw no such exception in the materials I was given. IMHO, the safer course of action is to sign a contract for FMV (fair market value) and submit that to HGVC, and actually close at that price. As another poster said, what other intra-family "arrangments" are made, no one need know (except the IRS).