Should I take a gift transfer of RCI Week?

[SimsJim215]

Hi

My aunt has expressed interest in gift transferring her ownership of her timeshare to her two nephews - my brother and I.

I am seeking feedback from folks about if / how this would work. My brother has a family of 4 with two teen aged children, and I am a single 60 year old. We don't often vacation together so we would probably split the weeks and/or alternate years when we use the timeshare week. Any experience and suggestions around this scenario are also encouraged.

The time share is a Wyndam resort in Williamsburg VA on week 52 (red) where we use the RCI site/service to manage the membership account/trade/bank etc. I think its a two bedroom lockout option - but some of that is still a bit fuzzy. I believe this is a deeded share. Many of these terms i've just picked up by browsing around on the RCI site...so I dont know if I am even using them correctly.

So - here are a few of my many questions....
what should we anticipate as far as the transfering?
What hiccups or gotcha's may we encounter?

I've answered the survey questions, and will be encouraging my brother to do so as well - his answers will be different than mine.

Do the folks on this site with more experience think this would be something of a true gift or more like an additional ongoing expense?

I've seen and heard so much bad press about timeshares in general, that I want to continue to explore opinions and experiences. IMO if they were as awful an idea as the overarching opinions would lead you to believe.. they would have gone the way of the Pet Rock years ago...I.E the market would have sealed their fate. BUT there are plenty of folks here, and a huge used market...so they are still around and being used.

Should we keep weeks or convert to points? This is a secondary question depending on the answer to the first 'should we'.

Any guidance is welcomed.


SURVEY:
1) Is there a vacation destination you wish to visit most of the time or on a regular basis? if so where?
-Various Colorado ski resorts, some New England Ski Resorts, Fort Lauderdale Fl, Provincetown RI, Key West FL


2) Do you want to visit your home resort at least half the time, or do you want to trade more than half the time?
-Trading and finding new destinations seems attractive to me.


3) What are your 5 top trade destinations?
-Breckenridge, CO, Copper Mt CO, Vail CO, FT Lauderdale FL, Fire Island NY, Pinehurst NC, Key West FL

4) How many people do you usually travel with - total, including yourself?
2-4

5) Can you travel any time, or are you locked into the school schedule?
-Winter for Colorado, summer for Fire Island, Spring / Fall for Pinehurst

6) Can you make firm plans 12 or more mos. in advance?
-This would be an adjustment.

7) Can you vacation for a full week at a time?
-Yes

8) What level of accommodations do you prefer on a scale of 1 to 5 stars?
-4-5

9) How much can you afford to spend upfront, without financing?
-N/A. I would be receiving a gift transfer from a family member of their existing weeks' timeshare.

10) How much can you afford to spend every year for a maintenance fee that will come due right after Christmas, and increase each year?
-1-2k

11) Are you a detail oriented planner?
-Yes

12) Do you understand that once you buy a timeshare, it may be very difficult to sell or give away, and you are responsible for all fees, until you do?
-Yes

 

[AnnieBets]

Look at eBay auctions to see what this week actually sold for. That will give you an idea of value that others see in this week. I don’t know of any Williamsburg Wyndham weeks with high resale value. Others may be able to respond to your survey with recommendations on a workable timeshare.

 

[SimsJim215]

Thanks @AnnieBets. I have joined the parent TUG site with the paywall, and I am trolling around there as well. So far, it seems like limited resorts under the RCI exchange program at ski destinations.

I dont see myself or my brother using the 'home week' Williamsburg more than once. For me.. it's too cold in December to Golf, and there is no downhill skiing there. These would be the primary vacation activities I'd seek at resorts/condos I would 'trade' into/exchange for.

 

[DRIless]

Should I take a gift transfer of RCI Week
should be
Should I take a gift transfer of a deeded wk52 at Wyndham (???) in Williamsburg

where we use the RCI site/service to manage the membership
should be
where we use RCI to trade when we don't want to use wk52 at Wyndham (???) in Williamsburg

The decision here is whether you would use week 52 at Wyndham (???) in Williamsburg at all or just trade it through RCI or an independent trading company like Trading Places, Platinum Interchange, SFX, 7 Across, etc. Trading has the additional cost of membership in the trade company and cost of exchange after you/ve paid your annual maintenance fee to Wyndham (???) in Williamsburg

If you liked Wyndham resorts you might convert your week to points to have access to their system with the cost being probably an additional retail purchase from Wyndham.