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Sold my Bluegreen in exchange for Welk Platinum yesterday, need help

eoubaseballa

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We just made the decision yesterday but I’m contemplating rescinding.

We have a Bluegreen VIP silver membership that we aren’t overly thrilled with due to so many lies. We just signed over contracts (paid close to $40k with various upgrades). Welk is buying us out for $35k plus $2k towards deed with Bluegreen. The transfer will cost us about $900 out of pocket.

We want to be in Welk with the RCI platinum and significantly better associated “collection” properties plus adding the new Marriott purchase. Is it worth sticking with and paying the additional $36k for 240k annual platinum. Or do I rescind and buy on secondary and somehow buy a small amount of points with developer to combine. I obviously want all points combined and would love to be done with Bluegreen so getting almost all our money back to get into a better set up is great.

We know pricing is going up Mar 1 but is it really worth paying their list? Their pricing wasn’t negotiable from list, different from what I’ve heard in past where they’ll negotiate.

Our goal is to be gone from Bluegreen and use the $239 per for RCI exchange to book the Welk collection resorts.

If we have to keep Bluegreen we will. Does Welk have better trading power than Bluegreen as they were pushing?
 

TheTimeTraveler

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If I just spent $40K then I would rescind while you are still able to.

Keep in mind that resales are priced substantially less, so rescind, do your homework, and then make a decision as to how you want to move forward.

Welcome to TUG.



.
 

dioxide45

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Be careful with this. They may not actually take back your BG contracts. They will have some outfit contact you to help you sell them or get rid of them. That outfit will likely just advertise them on EBay for free and hope they get at least one bidder. We see this a lot with Mexico purchase where someone is "trading in" their other weeks. They often still end up with their old weeks still in their name as they are contacted by someone telling them they can keep the weeks if they want. Ask yourself, what does Welk want with your BG ownership? They aren't in the business of buying individual units in other timeshare brands. They can't sell it off their sales floor.

My suggestion is to rescind and find a way to simply get rid of your BG ownership and look at other ways to pick up Welk without a big upfront developer purchase.
 

eoubaseballa

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Be careful with this. They may not actually take back your BG contracts. They will have some outfit contact you to help you sell them or get rid of them. That outfit will likely just advertise them on EBay for free and hope they get at least one bidder. We see this a lot with Mexico purchase where someone is "trading in" their other weeks. They often still end up with their old weeks still in their name as they are contacted by someone telling them they can keep the weeks if they want. Ask yourself, what does Welk want with your BG ownership? They aren't in the business of buying individual units in other timeshare brands. They can't sell it off their sales floor.

My suggestion is to rescind and find a way to simply get rid of your BG ownership and look at other ways to pick up Welk without a big upfront developer purchase.
Be careful with this. They may not actually take back your BG contracts. They will have some outfit contact you to help you sell them or get rid of them. That outfit will likely just advertise them on EBay for free and hope they get at least one bidder. We see this a lot with Mexico purchase where someone is "trading in" their other weeks. They often still end up with their old weeks still in their name as they are contacted by someone telling them they can keep the weeks if they want. Ask yourself, what does Welk want with your BG ownership? They aren't in the business of buying individual units in other timeshare brands. They can't sell it off their sales floor.

My suggestion is to rescind and find a way to simply get rid of your BG ownership and look at other ways to pick up Welk without a big upfront developer purchase.

Hmm, well they committed it in our actual contract, brought our sales price down $35k and yes they used a 3rd party to buy us out, but I didn’t see anything out of the ordinary. We have Bluegreen points (yes deeds). I’m ok keeping Bluegreen and adding Welk worst case.

They use Go Properties to liquidate. I don’t see anywhere why this wouldn’t be legit to transfer the property out of our name. File is too big to transfer.
 

emeryjre

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I do not see how you are getting your money back on Bluegreen. The people at Welk will probably pay someone to liquidate the Bluegreen contract on Ebay for you. I doubt they would leave you still holding the contract, but unless it is spelled out in whatever paperwork you have signed you only have their verbal statement and that is not enforceable once the rescission period ends.

The situation you are in could be cancelled/rescinded and allow you to do more study on the value of the transaction.

Bottom line is whether the money you are putting out is important to you. If you don't really care about spending that amount, then don't rescind. If the money is important, then putting your time and effort into reading and learning the value will be very valuable to you.
 

dioxide45

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Hmm, well they committed it in our actual contract, brought our sales price down $35k and yes they used a 3rd party to buy us out, but I didn’t see anything out of the ordinary. We have Bluegreen points (yes deeds). I’m ok keeping Bluegreen and adding Welk worst case.

They use Go Properties to liquidate. I don’t see anywhere why this wouldn’t be legit to transfer the property out of our name. File is too big to transfer.
If they deem your property too hard to get rid of, they will ask you if you want to just keep it anyway. Many people think they get a deal because they got a "discount" for trading it in and also get to keep it. If your BG property can be given away, they will certainly do it. But if they can give it away, why can't you give it away instead of spending a boat load of new money to "trade" it in?
 

Patri

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Who says prices are going up March 1? In March they will tell new victims prices are going up April 1. Get out of this deal. Then come back for advice on how to get rid of BG and buy Welk resale.
 

R1964

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Rescind now. They really didn't give you anything of value for your Bluegreen membership. All they did was play games with the numbers just like when you buy a car and have a trade in. If you don't owe anything on the bluegreen give it away and buy Welk resale you'll be thousands of dollars ahead.
 

emeryjre

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With your later post, you feel you are getting a discount of $35k on your purchase at Welk.

Do you know for a fact that the original selling price at the Welk is a true number of what the average buyer pays for a comparable purchase. Or is it highly inflated and then discounted to appear like a great deal. Once you go past the rescission date, it won’t matter, you are past doing anything to change the amount you are spending.
 

eoubaseballa

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With your later post, you feel you are getting a discount of $35k on your purchase at Welk.

Do you know for a fact that the original selling price at the Welk is a true number of what the average buyer pays for a comparable purchase. Or is it highly inflated and then discounted to appear like a great deal. Once you go past the rescission date, it won’t matter, you are past doing anything to change the amount you are spending.
Their list for our purchase was $74,732. Who knows.
 

Iggyearl

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You do understand that things are going to change with the Welk timeshare system. Who knows what, when or how. But you are buying into a system that won't be the same in a year. With Hyattt in the mix, your favorite locations may be hard to get in to. Also, you might want to rescind and make sure that your big discount from list price is for real. Bluegreen isn't the ONLY timeshare company that lies.
 

HudsHut

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Welcome to TUG.
You need to RESCIND, right now.
You can give your Bluegreen away or stop paying.

Why do you want Welk? Did you want it before you went into the sales presentation, or did they "convince you"?
Welk is being bought by Hyatt. Hyatt is affiliated with II. I would expect the Welk resorts to move back into II.

Do you know where the Welk resorts are? Do you know where the Hyatt resorts are?
What part of the country do you live in? Are any of the Hyatt/Welk resorts convenient to travel to?
Rescind. Then do your research and, if it makes sense to purchase Hyatt/Welk, then do so, on the resale market.

These people are trying to give away their Welk ownerships. I do not know any of them, just passing on information.

 
Last edited:

Passepartout

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It's all hocus pocus and sales weasels lies. Rescind, give away the BG. Then if you still have the bug, buy some system resale. RESCIND!
 

rickandcindy23

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There's a Welk 240000 points odd year platinum season on Ebay right now for $1.00
I wonder if you get the points in the transfer and if they would be the same as developer points?

TUG members don't usually recommend buying something from the developer. Welk is great, Hyatt's takeover could be outstanding for owners, but I wouldn't buy Hyatt from the developer, either.

To the OP: The Bluegreen is paid off? Why not contact a resale broker and sell it? Bluegreen is supposedly a great trader in RCI, according to @GrayFal I miss BocaBum99. He was a big advocate for Bluegreen.

 

Grammarhero

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Rescind. You should not pay $40k for something that costs $1. I also doubt Welk is paying $35k for something that costs $1 as well.
 

GrayFal

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To the OP: The Bluegreen is paid off? Why not contact a resale broker and sell it? Bluegreen is supposedly a great trader in RCI, according to @GrayFal I miss BocaBum99. He was a big advocate for Bluegreen.

OPstates he has Silver package. That is between 20K-34.9K points. It can easily be given away here ( as it is a nice number of points for yearly vacations:) or on one of the many Facebook groups.
Pinnacle charges a minimum fee of $2,000 on a sale so better to give away for free.
Hoping the OP rescinded his purchase and did some more research about Welk
 

jules54

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E rescind while you still can. Don’t be too proud or stubborn thinking you got the best deal ever offered you did not. The Tuggers that are taking precious time out of their lives(cause a lot of us are old) know what they are talking about. They are not trying to hurt your feeling or imply you were foolish. The reason Tuggers know is because they have experienced many many different types of timeshare transactions. Most of us have made at least one purchase we regret. Others have saved 10 of 1000 of dollars. Something in your head is telling you this is not for you or you would not have posted. Please rescind and let us know what you did.
 

eoubaseballa

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E rescind while you still can. Don’t be too proud or stubborn thinking you got the best deal ever offered you did not. The Tuggers that are taking precious time out of their lives(cause a lot of us are old) know what they are talking about. They are not trying to hurt your feeling or imply you were foolish. The reason Tuggers know is because they have experienced many many different types of timeshare transactions. Most of us have made at least one purchase we regret. Others have saved 10 of 1000 of dollars. Something in your head is telling you this is not for you or you would not have posted. Please rescind and let us know what you did.
I appreciate it! I have a local company that I’m in discussions with, I’m looking at a 360k annual offer for about $1k.

Obviously a big difference from current 600k every odd, 2 reservations to Four Seasons Aviara in Carlsbad, and VOAs for 1st 2 years. But still at $36k closing.

As far as Bluegreen, I’m trying to work directly (we’ve had numerous sales tactic lies unfortunately) so we are starting to have discussions with lawyers if Bluegreen doesn’t want to work with us. Will see what Bluegreen comes back at us with. I’d rather not give away something paid off that we paid a large amount for and will keep the points worst case.
 

GrayFal

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As far as Bluegreen, I’m trying to work directly (we’ve had numerous sales tactic lies unfortunately) so we are starting to have discussions with lawyers if Bluegreen doesn’t want to work with us. Will see what Bluegreen comes back at us with. I’d rather not give away something paid off that we paid a large amount for and will keep the points worst case.
Honestly, don’t waste your time. Bluegreen is aware their salespeople lie and seem to condone it. I hate to see you waste more money on this.

Bluegreen does NOT take back point ownership, only actual deeded weeks at their resorts that can be put in the trust. See @Panina experience.

Lies aside, it is a great flexible ownership and will compliment your new resale Welk ownership. Good Luck!
 

Gypsy65

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If you do find resale for $$$ less then you’ll have found money to float and use that BG timeshare
 

rapmarks

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You have already paid fir bluegreen. Use it it rent it out
 

R1964

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I don't know what type of Bluegreen membership you have but you can always make a reservation and rent it out. Aruba is a great location to rent to others and I know Bluegreen has space at La Cabana on Eagle Beach there. You could probably rent it out and cover your MF every year.
 
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