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Selling back to HGVC

FTJoe

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Hi - apologies if this should be in the main Selling thread, but I figure I have all the HGVC experts here.

We bought 5000 points at Seaworld 8 years ago and back then I believe they sweetened the deal with lots of Hilton point. That's back when maintenance fees were under $400 and bookings elsewhere were easy. We got great use from the TS, Hawaii several times, Vegas, Mexico, etc. Now fees are almost $1000, booking where we like in the 9 month window is near impossible and we end up just converting to Hilton points every year which is just lame. So I think its time to give up the unit.

HGVC actually returned our call after many calls to them, and mentioned they would buy back the unit at less than one third of what we sold it at. I actually think that's a decent offer, but the question is to those in the know is, are there going to be hidden costs, fees, hassles from HGVC while going through this process? Is it worthwhile (be it from the perspective of time, money or pitfalls) to look outside of HGVC? They did mention the offer might be rescinded at any time, so of course we should hurry up and jump on it. I'm not looking to maximize my return, just looking to dump it (or other options if people have something in mind) with the least amount of hassle.

I left out actual values paid/offered so as to not tread on any toes, etc. I have no problem adding them in if its germane to the discussion. I also noticed earlier posts from a company SellingTimeShares.net (Seth Nock) and wondered if its worth a call to them. Apparently well respected on these boards which is refreshing.
 

phil1ben

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Looks like the going rate is about $5,500.00 based on this link: http://www.sellingtimeshares.net/category/listings/hilton. Sounds about right to me based upon what I have been seeing and ROFR pricing. If you were offered more by Hilton may want to accept. Are they going to require that you pay 2012 Maintenance Fees which are past due?

Don't know what you originally paid.
 

FTJoe

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Appreciate the response. They offered about $1000 less than that. Maybe I'll get in touch with that company since they appear to be reputable based on the posts I see here and see what they say about it. I'm assuming HGVC themselves will offer a more trouble free sale which is really the essence of my query (is that a bad assumption?). Are there other fees and whatnot I'm going to have to pay or not pay by going through HGVC?

And yes, we just paid the maintenance fees...which of course is why this is coming up again as a discussion point for us.
 

PigsDad

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If you sell through a broker, you will most likely pay $1-2K commission I think (but you can certainly talk to them to see the actual commission they charge). If HGVC is offering you about $4500 for your Gold week, that seems like a decent deal. If you really want to get out from your HGVC ownership, it would definitely be the most hassle-free way of selling (vs. using a broker or trying to sell yourself on Ebay, etc.).

Kurt
 

Talent312

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I concur with Kurt.
Since you just want to dumo it w-no hassel, accept the HGVC offer.
If you want to squeeze every last dime, sell it on the market, but
understand that there may be costs that could leave you worse off.
 

Ron98GT

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If you sell through a broker, you will most likely pay $1-2K commission I think (but you can certainly talk to them to see the actual commission they charge). If HGVC is offering you about $4500 for your Gold week, that seems like a decent deal. If you really want to get out from your HGVC ownership, it would definitely be the most hassle-free way of selling (vs. using a broker or trying to sell yourself on Ebay, etc.).

Kurt

Is the $4500 Net? If so, that's about 90 cents per point for a gold. Sounds good to me.
 

Aquaman55

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Correct me if I am wrong, but HGVC will charge you a 25% Commission on the purchase. Are you absolutely sure you want to sell?
 

hurnik

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If it's Hilton resale, there are no "hidden" costs. If they say they'll pay you X dollars, that's what you'll get. You will owe them nothing additional (assuming you don't have a lien/loan on the timeshare).

I've sold my old one to Hilton resale and there were no hidden fees.
 

FTJoe

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When I see the money in my hand I'll believe it. But according to my wife who took the call, there were two choices, sell through them and get 25% of the sale (now I'm wondering if it was a commission of 25% to them), or accept what they termed a partial refund. I'll find out more if they call us back and thanks everyone for the advice. It was a great timeshare for many years.
 

gnorth16

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My best guess is that they would offer between $5000-$5500 (roughly ROFR) and then take 25% from that. $3750-$4175 would be the walk away price. To sell it through a Realtor would be time consuming and would net you little to no extra cash. Call them and get a solid number and compare what Seth of Judi will charge.
 

namuh

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You could also put a listing up here and sell it yourself without paying a commission.
 

NJDave

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Appreciate the response. They offered about $1000 less than that.

I spoke to a rep at Hilton awhile ago. The rep basically told me that when they buy back weeks, their offer is based on the going selling rate for their approved brokers (e.g. Seth and Judy) less the commission that you would have to pay. There is also a $100 administrative fee. For example, if the brokers are selling weeks for $5,500 and the commission is 20%, you would be offered $4,300 (5,500 less 1,100 commission less 100).
 

Ron98GT

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Comps

I spoke to a rep at Hilton awhile ago. The rep basically told me that when they buy back weeks, their offer is based on the going selling rate for their approved brokers (e.g. Seth and Judy) less the commission that you would have to pay. There is also a $100 administrative fee. For example, if the brokers are selling weeks for $5,500 and the commission is 20%, you would be offered $4,300 (5,500 less 1,100 commission less 100).

5,000 points, asking price $4500 = 90 cents/point, no offers/not-sold:

http://www.ebay.com/itm/Hilton-Gran...00638575267?pt=Timeshares&hash=item45ff749aa3


3,500 points, sold @ $1,025 = 29 cents/point, ROFR = ?:

http://www.ebay.com/itm/Hilton-Gran...80767436946?pt=Timeshares&hash=item2a16943092


Hasn't the ROFR base been about 45 to 60 cents/point,depending upon the number of points and the resort in question?
 
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NJDave

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FTJoe

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Just wanted to update the thread. We received, signed, notarized and sent back all the documents and I just got an email stating we will expect to receive the check for $4500 in 5 to 6 weeks or so. The ID we were dealing with was resale@hgvc.com. The other offer was to list it for more, and they would get 25% of the resale. I think this was a pretty decent,no muss no fuss offer. Again, when I get my grubby little hands on it, Ill believe it. Thanks to everyone for their advice.
 
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Tamaradarann

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Hi - apologies if this should be in the main Selling thread, but I figure I have all the HGVC experts here.

We bought 5000 points at Seaworld 8 years ago and back then I believe they sweetened the deal with lots of Hilton point. That's back when maintenance fees were under $400 and bookings elsewhere were easy. We got great use from the TS, Hawaii several times, Vegas, Mexico, etc. Now fees are almost $1000, booking where we like in the 9 month window is near impossible and we end up just converting to Hilton points every year which is just lame. So I think its time to give up the unit.

HGVC actually returned our call after many calls to them, and mentioned they would buy back the unit at less than one third of what we sold it at. I actually think that's a decent offer, but the question is to those in the know is, are there going to be hidden costs, fees, hassles from HGVC while going through this process? Is it worthwhile (be it from the perspective of time, money or pitfalls) to look outside of HGVC? They did mention the offer might be rescinded at any time, so of course we should hurry up and jump on it. I'm not looking to maximize my return, just looking to dump it (or other options if people have something in mind) with the least amount of hassle.

I left out actual values paid/offered so as to not tread on any toes, etc. I have no problem adding them in if its germane to the discussion. I also noticed earlier posts from a company SellingTimeShares.net (Seth Nock) and wondered if its worth a call to them. Apparently well respected on these boards which is refreshing.

Contact Seth. He will be able to give you a true market value for your timeshare. Hilton will give you what they want to pay you or if you are buying what they want to sell it for regardless of the market. They are 2 to 3 times what the market should be selling their timeshares.
 

FTJoe

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I actually sent an email to Seth a while back, long story short, he recommended accepting the offer. We're very happy with it (assuming we get the check, lol).
 

gnorth16

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2 replies about Hilton buyback

Hello Mr. & Mrs. K,

If you are interested in selling your timeshare interval we can list the timeshare for sale on the resale market. We work with a network of resale brokers that will advertise to find you a buyer. The suggested listing price range for your timeshare property is $5,000.00 to $6,000.00. This is only a suggestion based on current resale market analysis. You may list your property at any price you wish. The broker commission due on the sale of your Hilton interval will be 25% of the sales price or a minimum of $500. Please understand that listing your timeshare interval for sale does not relieve you of any financial responsibility for fees that may come due on your account during the selling process.

Would you like to receive a listing agreement to begin the selling process?

#2

Hello Mr. & Mrs. K,

HGV usually acquires inventory via FROR, but sometimes we have an option called Cancel Partial Refund. The CPR is an option that we can cancel the membership and issue a partial refund & is based on HGV for certain inventory. The Cancel Partial Refund option is not currently available, but when we do have it, we call our listings first to make the offer to.
Best regards,

Hilton Grand Vacations
Resale Department
6355 Metrowest Blvd, Suite 180
Orlando, FL 32835
800-579-6129
407-722-3721
407-722-3720 fax
resale@hgvc.com

They will list it for me and take a 25% cut. No different than Seth or Judy, however they do have a larger pool of buyers, including all licensed Realtors that can access the database. Hopefully this info helps someone out. :)
 
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