What are Elara 2 BD Lockouts worth as a resale?

[vidx3m]

Thank you in advance for sharing your knowledge, I've been learning so much from the TUG community.

I have an opportunity to acquire an HGVC Elara 2 bedroom Lockout,1-50 floating week Biennial ODD, with Maintenance fees of $605. The broker is asking $5,000 plus closing cost. Also, they are saying there's no points, its just a floating 2bd lockout unit.

There's very limited info on these 2 BD lockout units anywhere, so I have my doubts and many questions about it. The broker is requesting an estoppel, so I will be able to verify further.

In meanwhile, does anyone own one of these, is it worth it, can I trade these for other HGVC resorts, can I trade on II or RCI. What limitations would there be if there aren't points attached to the unit.

Thanks again for sharing your feedback.

 

[bizaro86]

Thank you in advance for sharing your knowledge, I've been learning so much from the TUG community.

I have an opportunity to acquire an HGVC Elara 2 bedroom Lockout,1-50 floating week Biennial ODD, with Maintenance fees of $605. The broker is asking $5,000 plus closing cost. Also, they are saying there's no points, its just a floating 2bd lockout unit.

There's very limited info on these 2 BD lockout units anywhere, so I have my doubts and many questions about it. The broker is requesting an estoppel, so I will be able to verify further.

In meanwhile, does anyone own one of these, is it worth it, can I trade these for other HGVC resorts, can I trade on II or RCI. What limitations would there be if there aren't points attached to the unit.

Thanks again for sharing your feedback.

If there's no points it's one of the old Westgate units, which I think would have a resale value of ~$0

 

[CalGalTraveler]

As stated above by @bizaro86 it sounds like a Westgate unit. Those units do not trade in the HGVC system. Run away.

 

[vidx3m]

If there's no points it's one of the old Westgate units, which I think would have a resale value of ~$0

Oh, glad I asked the question. The broker has it listed as HGVC, there was no mention of Westgate.

 

[vidx3m]

As stated above by @bizaro86 it sounds like a Westgate unit. Those units do not trade in the HGVC system. Run away.

So I gather from the previous reply as well.

Why are they inferior to the HGVC Elara units? Are Westgate units not tradable?

 

[CalGalTraveler]

Correct. You get no points to trade in the HGVC points system. Hard to dispose because no one wants Wastegate. Terrible resale options. This unit may have further Westgate restrictions on window to book etc.

 

[dioxide45]

I do understand that the Westgate units can be useful in Interval International or perhaps through Westgate's internal system. Someone posted a couple years ago how they can get multiple weeks from their units. I don't know exactly how it worked. I will see if I can dig up that thread.

That said, if you want to use them for HGVC club points, it won't work.

 

[bizaro86]

I do understand that the Westgate units can be useful in Interval International or perhaps through Westgate's internal system. Someone posted a couple years ago how they can get multiple weeks from their units. I don't know exactly how it worked. I will see if I can dig up that thread.

That said, if you want to use them for HGVC club points, it won't work.

Yeah, I remember that as well - something about splitting the lockoff them booking multiple short stays with each side I think. It sounded interesting, but if this is a Westgate unit with no HGVC points then I think $5k is way too much to pay.

 

[vidx3m]

Correct. You get no points to trade in the HGVC points system. Hard to dispose because no one wants Wastegate. Terrible resale options. This unit may have further Westgate restrictions on window to book etc.

Good to know. Sounds like too much of a risk to me

 

[dioxide45]

Yeah, I remember that as well - something about splitting the lockoff them booking multiple short stays with each side I think. It sounded interesting, but if this is a Westgate unit with no HGVC points then I think $5k is way too much to pay.

Yeah, it should still be a $0 transaction. Even with the extra flexiblity the Westgate deeds don't really have any value.

Here is another document I dug up.

https://tugbbs.com/forums/attachments/lv52-westgate-owners-message-2015-final-pdf.11705/

 

[vidx3m]

Yeah, it should still be a $0 transaction. Even with the extra flexiblity the Westgate deeds don't really have any value.

Here is another document I dug up.

https://tugbbs.com/forums/attachments/lv52-westgate-owners-message-2015-final-pdf.11705/

I've gone down a bit of a rabbit hole researching these and they seem like a real anomaly. For a buyer intending on using it for Elara stay, the units are good value, however the challenge is that you will likely only be able to trade efficiently on II. These units are not the typical Westgate, they are a different beast all together. Essentially, it's the same units as the HGVC, when you book you end up staying in the same units as someone who booked an HGVC unit. The big benefit is the entry is low for most listings, I will not pursue the $5000 asking price, but at $0 it's very intriguing.

 

[BingoBangoBongo]

Thank you in advance for sharing your knowledge, I've been learning so much from the TUG community.

I have an opportunity to acquire an HGVC Elara 2 bedroom Lockout,1-50 floating week Biennial ODD, with Maintenance fees of $605. The broker is asking $5,000 plus closing cost. Also, they are saying there's no points, its just a floating 2bd lockout unit.

There's very limited info on these 2 BD lockout units anywhere, so I have my doubts and many questions about it. The broker is requesting an estoppel, so I will be able to verify further.

In meanwhile, does anyone own one of these, is it worth it, can I trade these for other HGVC resorts, can I trade on II or RCI. What limitations would there be if there aren't points attached to the unit.

Thanks again for sharing your feedback.

Could those MF’s be paid every year on the EOY?