Upgrade to MVC?

[mcclurclur]

Long story with my timeshare but here are the clifnotes.

My folks bought a Vistana timeshare years ago, they never understood how to use it so they never did. After my dad passed away, my mom signed the deed over to my wife and I to get out of it because we figured we would use it and she never will. We went to an owners update last Friday and agreed to pay to upgrade (I'm still within the cooling off period) because they were telling us that we needed to upgrade to MVC and also more points, higher benefits package, supposedly the same points go farther with MVC but idk if that's true or not, you know the spill.

So, here we are. The package my mom gave us had the equivalent of 4,000 points and we upgraded to the Presidential level with 10,015 points total. A lot of money. Now I find tugs, a week later than I would have hoped. Looking back I should have done some googling beforehand,not after.

My question now becomes, if I cancel the upgrade and buy resale, can you stack the points into my same ownership and do you still climb to the higher benefits packages going this route?

What about switching it to MVC?

Does this make any difference in actuality and if it does,can I do this resale?

I have a lot to read up on but only a few days to do so and make a decision. Thank you in advance!

 

[Hindsite]

Cancel while you can, and then do the research into what, if any purchase is suitable for you.

If you buy resale club points, yes, you can have them achieve status, if you pay the MVC initiation fee of $3/club point min $3k. All in that would cost you $7-8/club point vs the $17 or so you may have paid.

Until you understand the ownership you have, don't move forward with additional purchases. You'll understand what of the options available via resale once you start to use the system and work out what bits give you value and what don't.

All the best.

 

[mcclurclur]

Cancel while you can, and then do the research into what, if any purchase is suitable for you.

If you buy resale club points, yes, you can have them achieve status, if you pay the MVC initiation fee of $3/club point min $3k. All in that would cost you $7-8/club point vs the $17 or so you may have paid.

Until you understand the ownership you have, don't move forward with additional purchases. You'll understand what of the options available via resale once you start to use the system and work out what bits give you value and what don't.

All the best.

Thank you so much for the reply. You're right, I kept telling the salespeople that since we have yet to use it that makes it difficult to upgrade.

We went ahead and upgraded because "supposedly" the price was like 80something cents but they gave it to use for 43cents or so(idk if it's true). I fully intended on researching while knowing I had a cooling off period and that's how and why I found tugs.

So, I think we paid about $14.5ish/points which is much higher than 7or 8 obviously.

Where does the MVC initiation fee calculate from? My existing points? I have 4,000 so it will be $12,000? Is that worth doing?

 

[vacationtime1]

Rescind now. You spent a lot of money without doing your homework. Fortunately, by rescinding, you can fix that.

In your research, you may find that your existing unit is already MVC-eligible because if your parents bought directly from Vistana, their unit would be enrollable (it depends on when it was purchased, but if your folks bought years ago, it won't be an issue). You, as their son, is a qualified transferee to do the same.

 

[mcclurclur]

Rescind now. You spent a lot of money without doing your homework. Fortunately, by rescinding, you can fix that.

I completely agree with you. I'll be sending a letter tomorrow to rescind.

Now I'm just trying to clarify some things so I can decide what is the best next step(s). I completely plan on using what I current have over the next year before pulling the trigger on anything new. I would just like to understand about the MVC initiation and differences that could/would bring.

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[EnglishmanAbroad]

Why spend so much money to buy more of what you already don't use? Isn't that insanity? Rescind.

 

[davidvel]

Thank you so much for the reply. You're right, I kept telling the salespeople that since we have yet to use it that makes it difficult to upgrade.

We went ahead and upgraded because "supposedly" the price was like 80something cents but they gave it to use for 43cents or so(idk if it's true). I fully intended on researching while knowing I had a cooling off period and that's how and why I found tugs.

So, I think we paid about $14.5ish/points which is much higher than 7or 8 obviously.

Where does the MVC initiation fee calculate from? My existing points? I have 4,000 so it will be $12,000? Is that worth doing?

Please rescind ASAP, then worry about what you may buy. You only have a limited time to rescind, and after the deadline you never can. Any deal they offered will be there, if not better. Don't spend a second doing anything until you have rescinded.

 

[5finny]

Agree with all above
RESCIND NOW (it sounds like you are doing so)
I would do it in multiple ways
If contract allows email BUT follow up same day with mail and Certified Mail Return Receipt requested--you want verification you acted within proper time frame

 

[kozykritter]

Thank you so much for the reply. You're right, I kept telling the salespeople that since we have yet to use it that makes it difficult to upgrade.

We went ahead and upgraded because "supposedly" the price was like 80something cents but they gave it to use for 43cents or so(idk if it's true). I fully intended on researching while knowing I had a cooling off period and that's how and why I found tugs.

So, I think we paid about $14.5ish/points which is much higher than 7or 8 obviously.

Where does the MVC initiation fee calculate from? My existing points? I have 4,000 so it will be $12,000? Is that worth doing?

No, the enrollment fee is on a resale purchase. It's $3 per point on top of the sales price with a $3,000 minimum fee. You also have to get any resale purchase through the Marriott right of first refusal process which often takes a price of about $4 a point before the enrollment fee. If you snag resales at a lower price, Marriott will often step in and take the resale for themselves. Go to rofr.net to see what people have reported as far as resales and whether or not they passed ROFR.

 

[mcclurclur]

No, the enrollment fee is on a resale purchase. It's $3 per point on top of the sales price with a $3,000 minimum fee. You also have to get any resale purchase through the Marriott right of first refusal process which often takes a price of about $4 a point before the enrollment fee. If you snag resales at a lower price, Marriott will often step in and take the resale for themselves. Go to rofr.net to see what people have reported as far as resales and whether or not they passed ROFR.

I see, thank you for the clarification. Will that convert my ownership to MVC at that point as well?

 

[mcclurclur]

Ok ok, I get it! Lol. I am now aware that there is a FAR better option out there thanks to everyone here! That is the whole reason for my post. I found tugs and my eyes were opened and here we are. I had no idea resale was a thing until I found tugs. I am for sure going to start the rescind process tomorrow. I assume the mail being timestamped within the 10 days is the qualification? Or do they have to receive it within 10 days? 1 last thing, is that 10 business days or 10 days days?

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[kozykritter]

I see, thank you for the clarification. Will that convert my ownership to MVC at that point as well?

What you already own will stay a Vistana ownership unless you make a developer purchase directly from Marriott in which case they may take back the Vistana ownership and then resell it to you in the form of more points. It sounds like your existing Vistana ownership is eligible to elect points each year to use in the Abound system so that point value would be added to the point value of any resales points to determine your owner benefit level.

 

[mcclurclur]

What you already own will stay a Vistana ownership unless you make a developer purchase directly from Marriott in which case they may take back the Vistana ownership and then resell it to you in the form of more points. It sounds like your existing Vistana ownership is eligible to elect points each year to use in the Abound system so that point value would be added to the point value of any resales points to determine your owner benefit level.

Would it be advantageous to do that?

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[vacationtime1]

Take your time; keep it simple.

#1 -- Complete your rescission.

#2 -- Determine whether the week you acquired from your parents can be enrolled in MVC. This is a fork in the road on your decision making, because if you can enroll the week, you are in MVC and you can then rent points from other members on an as-needed basis. Perhaps you won't need to purchase points at all.

#3 -- Figure out what you currently own and how to best use it. Vistana has its complications (to understate things).

 

[vacationtime1]

Would it be advantageous to do that?

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It would be advantageous for Marriott; you would be paying them in the process.

 

[mcclurclur]

It would be advantageous for Marriott; you would be paying them in the process.

I get that. You said Vistana has it's complications, so is it worth it to get out of Vistana and into MVC? We don't have a week, we have options. Does that make any difference?

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[iowaguy09]

As a Vistana owner with full rights, you have the annual choice to just use the ownership at Westin or Sheraton Vacation Club locations, or to convert the ownership to Abound points which you can use at Marriott Vacation Club locations. Those Abound points will work exactly like any points you would buy directly from MVC. There is more detail to it than this, but this is the simplest way to understand it for now.

I agree with above, rescind immediately! Then spend $15 on a TUG membership and study everything you can on these forums (especially red stickies) to learn about your current ownership.

 

[Hindsite]

I get that. You said Vistana has it's complications, so is it worth it to get out of Vistana and into MVC? We don't have a week, we have options. Does that make any difference?

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MVC has complications to, so no you shouldn't just change over until you have worked out how to use what you have. Take your time any deal will be available in several years time, if that's the way to go.
You have good flexibility with your current ownership, don't give that up.

 

[mcclurclur]

MVC has complications to, so no you shouldn't just change over until you have worked out how to use what you have. Take your time any deal will be available in several years time, if that's the way to go.
You have good flexibility with your current ownership, don't give that up.

Ok gotcha. Thank you! I'm sending my rescind letter and email this morning. Thanks again for the advice!

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[LeslieDet]

Ok ok, I get it! Lol. I am now aware that there is a FAR better option out there thanks to everyone here! That is the whole reason for my post. I found tugs and my eyes were opened and here we are. I had no idea resale was a thing until I found tugs. I am for sure going to start the rescind process tomorrow. I assume the mail being timestamped within the 10 days is the qualification? Or do they have to receive it within 10 days? 1 last thing, is that 10 business days or 10 days days?

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The rescission T&C are spelled out in the contract you signed; since rescission rights can vary by state, you must look at the contract itself to understand what the deadline is for rescinding the contract you actually signed. Some jurisdictions are 7 business days, other jurisdictions are simply calendar days. Again, it depends upon where you were when you agreed to the deal. There is no uniform answer.

BTW - you have not mentioned what you now own; there is no need to "upgrade" by selling your existing VOI back to MVC and then buying MVC Trust Points. If your existing VOI can elect for 4000 Club Points, you are at the "select" level. Yes, the booking rights at select are different than they are at presidential, but it seems like you have not evaluated how you will use the VOI and what your needs actually are. You just fell for the "you must buy more now" pitch. I suggest using what you currently own and figuring out how it works in your life, and if at some point in time you decide you want to vacation more, then look at the resale. Also, since you did not indicate what you actually own, there are things for you to learn about your ownership, such as whether it is a mandatory or voluntary property; how StarOptions work, where you want to travel to, etc. There is a lot of educational material out there, you can also find info on your dashboard to explain how your ownership works.