New Owner

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

OK, I faxed the termination paper to them yesterday after talking to them so I am good there. Now I really want a timeshare and have found some great deals at the same place. I really have some confusion with the point's portion. The deal I had gave me week 44 every year and 61,000 points every other year or what they described as an optional or bonus vacation. All the deals I have found say nothing about points. They just state which week you get. I like the idea of the extra 61,000 points but maybe I am looking at it all wrong. I want the same deal with points attached. I also am confused with some saying it is a fixed week. Maybe this was an old deal but I was told that there are no fixed weeks it is all a formality for booking purposes and it floats. I also heard that RCI converted from the week system to points so if I got one that says fixed can I convert to points?????? I am sooo confused, lol. I love the idea so school me up please

Faxes conveniently get lost by the developer. You need to send this to them with proof of delivery. DO NOT RELY ON A FAX TO TERMINATE THIS CONTRACT!

If you sent the fax, keep a copy of the reciept showing the number you faxed the document to and that it was recieved. You'll need that in case they just happen to misplace your rescind forms.

As far as bonus points, you typically won't get those on resale. However, if you'd have stuck with the developer purchase, you'd probably find out those "bonus" points weren't all they were cracked up to be. Both RCI and Interval International, the two major exchange companies, offer extra vacations or getaway vacations that can be purchased/rented anytime without having to rely on "bonus points" every-other-year.

[SallyHoover Senior Member Find all posts View Profile Close SallyHoover]

a few suggestions.

Make sure faxing is sufficient and you don't need to return any additional materials. It doesn't matter what the person said on the phone- only what is in your contract.

You are not even sure what you bought for $11,000 and it would probably take a while to detangle but you probably didn't even buy what you thought you bought. Usually you get to use your week or your points, not both so if you use points one year you don't get the week. Bonus weeks usually mean pay an extra fee (usually equal to MF but occasionally less) and you get to use the weeks or points from the bonus week but often they can't be booked until 30-90 days in advance based on availability. Also the resort has 2 bedroom lock off units that can be deposited seperately so you may have bought 1 week that you could use for 2 weeks in a 1 bedroom unit.

RCI has both weeks and points. The Grandview was originally sold as weeks but then changed to points. Weeks that were already sold do not become points eligible unless they were converted (fee usually =$2995). The weeks the developer is currently selling is already converted. So if you want points at Grandview you need to make sure it has already been converted.

It gets very confusing when the salesman is writing down facts and figures and using unfamiliar jargon. And the general belief is you can tell when a TS salesman is lying because his lips are moving. You could probably get a comparble TS for less than $1000 in the next week or two. But the best suggestion is to stop and do a minimum of 30 days- 6 months research to find the best Timeshare (deal) for you and your family. You may want to rent 1 or 2 TS in the next 6-12 months to get a feel for different systems and developers.

I'm glad you found us and hope it works out for you.

[PHILL12 Senior Member Find all posts View Profile Close PHILL12]

Faxing is not a very good idea as others stated it gets lost or they never saw it. Send rescind by mail and have them sign for it. Do not put this off even hours as they only need one reason to not let you out of your contract.

Buying a fixed week like the one listed on Tug would mean you have week 31 every year. You can always exchange it for a diifferent week if you would like. The nice part of a fixed week is you understand you have this week every year for your family plans and you get the deed as a owner of the unit.

Many resorts are now going with points to make more money and many buyers really want fixed weeks or floating seasons and own the deed too!
We just sold one of our Lake Tahoe units last July to another owner who had a young family and wanted the larger Naegle unit for summers to go with his other unit,same reason we bought a second unit few years ago. They bought from us because the Ridge now only selling foreclosers by point system and these people wanted the deed. You will find many owners want to own and want that deed.

PHILL12

[Mustang_gtr_99 Junior Member Find all posts View Profile Close Mustang_gtr_99]

a few suggestions.

Make sure faxing is sufficient and you don't need to return any additional materials. It doesn't matter what the person said on the phone- only what is in your contract.

You are not even sure what you bought for $11,000 and it would probably take a while to detangle but you probably didn't even buy what you thought you bought. Usually you get to use your week or your points, not both so if you use points one year you don't get the week. Bonus weeks usually mean pay an extra fee (usually equal to MF but occasionally less) and you get to use the weeks or points from the bonus week but often they can't be booked until 30-90 days in advance based on availability. Also the resort has 2 bedroom lock off units that can be deposited seperately so you may have bought 1 week that you could use for 2 weeks in a 1 bedroom unit.

RCI has both weeks and points. The Grandview was originally sold as weeks but then changed to points. Weeks that were already sold do not become points eligible unless they were converted (fee usually =$2995). The weeks the developer is currently selling is already converted. So if you want points at Grandview you need to make sure it has already been converted.

It gets very confusing when the salesman is writing down facts and figures and using unfamiliar jargon. And the general belief is you can tell when a TS salesman is lying because his lips are moving. You could probably get a comparble TS for less than $1000 in the next week or two. But the best suggestion is to stop and do a minimum of 30 days- 6 months research to find the best Timeshare (deal) for you and your family. You may want to rent 1 or 2 TS in the next 6-12 months to get a feel for different systems and developers.

I'm glad you found us and hope it works out for you.

No, I know what I got I just wanted to know more about the points. The deal said week 44 and, not or, 61,000 points every other year. I faxed the termination paper in yesterday and called today to confirm and they said they have it and it is being processed today. I also have the transmission receipt for the fax so I am not so concerned now. I just need to find out about my $300 deposit. Back to the points which I still need to learn more about. How far do the points go? If I wanted to use the points for say airline tickets, how many points would it burn? I know it would depend on where you were going but just want an example. Also what about tours and attractions like the trip I want to take to Disneyland? Do points cover those as well. I know they said rental cars are a good deal through the timeshares????? I am looking to get more out of a timeshare than just a place to sleep which is why I liked the points presentation. I just need to know what I can use them on and what restrictions they may have.

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

No, I know what I got I just wanted to know more about the points. The deal said week 44 and, not or, 61,000 points every other year. I faxed the termination paper in yesterday and called today to confirm and they said they have it and it is being processed today. I also have the transmission receipt for the fax so I am not so concerned now. I just need to find out about my $300 deposit. Back to the points which I still need to learn more about. How far do the points go? If I wanted to use the points for say airline tickets, how many points would it burn? I know it would depend on where you were going but just want an example. Also what about tours and attractions like the trip I want to take to Disneyland? Do points cover those as well. I know they said rental cars are a good deal through the timeshares????? I am looking to get more out of a timeshare than just a place to sleep which is why I liked the points presentation. I just need to know what I can use them on and what restrictions they may have.

Generally speaking, when you look at the underlying cost of points (typically maintenance fee's) and the value you recieve for them for plane tickets, rental cars, cruises ect... It's just not a good value.

They've done a very good job of selling you the sizzle. I can see you're excited about points and everything they can do for you but, when you get right down to it, cash is usually cheaper.

[Mustang_gtr_99 Junior Member Find all posts View Profile Close Mustang_gtr_99]

OK, so I just researched the pints conversion and the 61,000 points really isn’t much at all. About $500 bucks is all it amounts to. That kind of bursts the bubble a bit. Overall I still think this method of vacationing will be way cheaper in the long run. Just not as exciting as first led to believe.

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

OK, so I just researched the pints conversion and the 61,000 points really isn’t much at all. About $500 bucks is all it amounts to. That kind of bursts the bubble a bit. Overall I still think this method of vacationing will be way cheaper in the long run. Just not as exciting as first led to believe.

It's only cheaper if you buy resale and, even then, with MF's it's not always less expensive than renting.

I've always looked at timeshare ownership as an investment in vacation lifestyle. Sort of like the difference between driving an economy car and a luxury car. Both types of cars will get you from A to B but, one will get you there with a little more comfort. Of course, the luxury car will also cost you a little (OK, a lot) more.

Before you jump in with both feet, it looks to me as if you'll need to spend some time and do a little more research. MF's can be a BIG hassle to timeshare ownership. We purchased our first timeshare in 1998 and the maintenance fee's were under $500. This past year they were over $1,000. This does not include the two special assessments this particular developement has had over that span of time. Nor does it include a conversion to a points program, which cost an additional $2,995 to join.

If you're thinking timeshare is a cheaper way to vacation, you might want to look deeper before buying. I've never really found it to be a less expensive way to vacation. We have found it to be a more comfortable and enjoyable way to vacation.

[Mustang_gtr_99 Junior Member Find all posts View Profile Close Mustang_gtr_99]

Well I guess cheaper isn't the right word. I guess it seems like you get more for the same money you would spend on a hotel.

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

Well I guess cheaper isn't the right word. I guess it seems like you get more for the same money you would spend on a hotel.

We enjoy timesharing because we prefer to spend out vacations in a condo rather than a hotel room. Having said that, if you search the internet, you'll see all sorts of condo rentals at timeshare resorts available. Some directly from owners, others from sites sponsored by the exchange companies (that's right, once you give up your unit for exchange, it's theirs to rent if they want). There can be a strong arguement for renting vs owning.

In our case, we own 6.5 timeshares (one is every-other-year) and pay in the neighborhood of just over $6,000/year in MF's. That figure keeps climbing by 5 to 7% each year. I can now see a time where, if this trend continues, that we won't be able to afford to keep all of our timeshares.

Other things to consider about owning vs renting are:

1. Renting: you can plan on spur of the moment. Timeshares typically take advanced vacation planing (6 months to 1 year in advance) to get the most in demand locations in the highest demand seasons.

2. You have no choice in paying MF's. If the economy is down or you've lost your job, you still must pay the MF or lose you timeshare and have your credit dinged.

3. Unless you want to travel to the same place every year, you must learn the various barter systems to exchange into where you want to go. Most timeshares are contractually connected to one of two major timeshare exchange companies. Will the one your timeshare is connected with allow you to go where you want to go? If not, see #2. You'll still pay those MF's.

4. The rule change all the time. Sure if you only want to go to one destination at the same time every year, it's easy. But, what if you get tired of one spot? We own 4 timeshares in Vegas because we use to travel to Vegas 3 to 5 times per year. That's changed and we haven't been to Vegas in 4 years now. Since we purchased our first fixed week timeshare, things have changed and so have we. We've gone from fixed week to floating weeks to points based internal exchange systems whereby we don't utlize the major exchange companies directly. Which system will work best for your needs?

Don't get me wrong, we love timesharing. It's just that, while it's not difficult, it is different than just book and go. It's not as if you can just go onto a site like Orbitz, Expedia or Travelocity and find the vacation that's right for you at a price you want to pay. You're locked into a price that's fixed by someone else (the HOA) and restricted to locations that your week is strong enough to trade into.

Take some time, read the site, ask more questions and learn before you buy. That way you'll buy a week that fits your needs the best and one you can get the most usage out of for a price that's comfortable on your wallet.

Grandview is a very nice timeshare but, what about the ones that are closer to the strip? There's the Marriott, Polo Towers, Carriage House, Wyndham's property (can't recall the name), Jockey Club and Hilton Grand Vacation Club. Learn the differences between these types of ownerships and their costs before jumping in. For that matter, did you know that Vegas is typically one of the easiest locations to exchange into? I have a cheap one bedroom Branson week that cost me ~$250 (almost $1,000 with closing costs) and has a MF of $260/year that will trade easily into a week 44 Grandview week, often pulling a two bedroom for the one bedroom we own. It might be worthwhile to look for other locations that interest you that have better trading power or, into a system such as Hilton's that will allow you to trade internally vs going through either RCI, Interval International or one of the many smaller independant exchange companies.