Newbie here in need of immediate assistance what should I do?

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

Hello,

My wife and I just purchased a Timeshare in Bayse VA. Week falls over 4th of July, week 26. Doing some research to get some peace of mind as if I did the right thing. They do not let you into the Interval website until your right to cancel period is over and that makes me think that I am being scammed. Is there any website or guide out there to see if I got a good deal.

The unit is a resale we purchased for 8500 and they offered us 12 additional weeks, I guess that is the II getaway deal. They said best thing to do is if we are not going to use our week to rent it out usuall get around 1200 for the week then you need to pay around 200 for the realtor rental fee. Then they say to pocket the money and use your 12 weeks that you get each year. This is a deeded timeshare.

What is the true actual average of a getaway package say Disney reort for a week in peek time?

Thanks,

Griff

[nursetanya1973 Senior Member Find all posts View Profile Close nursetanya1973]

Which resort did you purchase? I am not that familiar with II, but an actual Disney owned resort is pretty rare to trade to. Non-Disney property is very easy.

Can you rescind on a resale? I assume that is in your contract? If you bought from the developer, even resale, you can probably do better. But knowing the actual resort would help.

I am sure there are much more knowledgeable people that will be giving you more answers, but in the meantime, search for your resort and see what you find available to buy. That will give you a start.

And $1200 seems awful high to expect to get for a rental.

Tanya

[Chap7 Super Moderator Find all posts View Profile Close Chap7]

Rescind if there is still time. Then hang around here a little while and you'll be able to make a decision that you are totally comfortable with. Since you seem to be having some doubts, take a few steps back and re-evaluate. If you are no longer able to rescind, the next step is to figure out how to get the most out of your purchase. We can help you with that, as well. Welcome to the site.

[nursetanya1973 Senior Member Find all posts View Profile Close nursetanya1973]

I see a rental available for "anytime" for Stony Court for $499. Available to buy for $1000-2100. Summer weeks and ski weeks (but no 4th).

Senedo Springs 4 BR available to buy week 30 for $3500. Floating week $7100. There site lists rentals for $300-585. Looks like maintence fees are $410/year or so.

That was just with a quick search.

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

I appreciate the help. The resort is the Chalet High at Creekside Village in Basye, VA. This is part of Interval International. They said that if we sign now Interval would give us an additional 12 weeks a year every year that we can use`or give away. Is the 12 weeks the norm?

Thanks for all the assistance

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

Griff:

Don't quite sure about the resort in that area, but I do have some questions hope you can help me answer it.

What is the reason you pick this resort? What is the room sale asking value around this area? What is the rent asking value around this area for this resort? What is the success rate of rent out in that price range? What is the MF?

Have you look at www.redweek.com or www.myresortnetwork.com to check the asking price? Have you look at eBay to check the completed price for a compariable resort?

Please remember, in TS, at this moment, it is the buyer's market.

Since it is fix week 26 around a special resort, only you can determine the value to you.

What is the purpose that led you to purchase this one? How you plan to use it? when and how you plan to get rid of this resort? How you plan to fund the MF of this resort?

Now you mention there are 12 week carried with this transaction. What is these 12 weeks? When will they expired? Do you know how you can get 12 weeks in one year with that unit? Or is it an exchanged deposit week? If it is exchange deposit week, you can not rent it out.

I have no idea about II trading, how comfortable you think you can get a prime week disney trading?

Sorry, I don't have any answer to you, but I do have a lot of questions.

Thanks in advance.

Jya-Ning

[Glitter Brunello Super Moderator Find all posts View Profile Close Glitter Brunello]

I appreciate the help. The resort is the Chalet High at Creekside Village in Basye, VA. This is part of Interval International. They said that if we sign now Interval would give us an additional 12 weeks a year every year that we can use`or give away. Is the 12 weeks the norm?

Thanks for all the assistance

Maybe someone familiar with this particular scam, oops I mean offer, can chime in, but I can tell you that Interval doesn't "give" away anything. It is possible that Chalet High has cut some deal with Interval where you get to use up to 12 'bonus weeks' which are basically off season weeks and excess inventory at various overbuilt locations. Trust me you wouldn't find anything like 12 you could use (unless you are retired). Or do they mean they'll give you 12 weeks at Chalet High? If that's what they mean, they are definitely off season weeks that just sit in Interval's Inventory, so Interval would rather get the exchange fee from you than eat the weeks. If they are 'bonus weeks,' there is a fee for those too. Why not ask them for a written addendum (must be written, those salespeople will say anything) to your agreement stating that you will be entitled to 12 weeks, with no fee, as follows: Christmas and New Year's on Maui, President's week in Park City, Easter on the Gulf Coast of Florida or the Keys, and the balance to be used to spend the summer between the California Coast, Hilton Head, and Acadia National Park in Maine. But seriously, just rescind, then ask questions and make an informed decision.

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

the 12 is 12 getaway weeks allowed in 1 calender year. From what I was told this resort worked out a special deal when they converted from RCI to Interval.

From what the sales person told me July 4th week is a week that is sold out every year. I have not been able to determine what the rental rate is for that week.

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

griff:

Yes, week 26 has 1/2 time fall in July 4th and that is the week that can fetch the best money and can get good chance of sold. The resort is about 2 hr to DC including traffic, it probably close to 3 hr. 12 week if is gateway that you will only get when resort change affliate from RCI to II, you will not get again, and they usually has an expiration day. Since you really should not rent the gateway out, how many vacation you can use? redweek does has resell of that resort, so try to check the asking price. Then look at eBay completed list, pull any resort that you can find in redweek to see what is the ratio they can get.

Do you like the area? That is very beatiful area. Do you image to be there ever year? 8500 if assume get 3% interest is 250. Plus the MF, do you think it worth that much for you to travel to this place everyear? Redweek also tell you how much MF will be like.

Jya-Ning

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

First off, I believe that there is virtually no timeshare worth more than $ 8,000, so I think you paid too much. Secondly, who in the world wants to go to Bayse, Va - so don't expect to be able to rent the place for anything over $ 400 if you can even get that for it. Your trade power will not be astounding. Thirdly, you can get as many getaways as you want from II with II membership and there is a charge for every one of them, usually $ 299 or more each and that's the not so hot places. Rescind this deal if you can.
This may sound a bit harsh, but that's the way it is. If nothing else, be thankful you didn't buy an October week in Orlando from the developer for 25k or more.

[Glitter Brunello Super Moderator Find all posts View Profile Close Glitter Brunello]

Yes if they are Getaways, II members can buy an unlimited number of those. Prices have been going up, no way are they 'giving' those away and don't believe the salesperson who has NOTHING to do with Interval. Most t/s salespeople unfortunately misprepresent the realities of dealing with the exchange companies...

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

Since no one has said this yet, if you rescind, follow the rescind instructions exactly. If the instructions say to mail USPS do not Fed Ex, for example. Send certified with return receipt so you can document the rescind.
The 12 free getaways does not make sense, I suspect you would have to pay for them and they are often not cheap.
When you look at comps on Redweek, etc, remember that asking prices and selling prices may vary. Therefore, completed auctions on Ebay are more useful as comps.

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

Doing some additional research on some sites it does show that what I have paid was in line with some of the resales online. I may have paid a little more.

This is the Ed McManon site does this site have any merit?

http://www.vrint.com/spot_map_resort.asp?ResortID=709

The thing that gets be now is that if Intervall offers unlimited getaways why did the offer me just 12. They said with the getaways on average it would only cost me 300 to $400 for a week stay at any of the resorts in the book.

Can some one tell me what the Disney Wilderness Lodge would cost for a week in the red. I feel as if they are hidining something as they will not give me a temporay pass code to the Interval web site until wayoutsind the recind period

[Spence Super Moderator Find all posts View Profile Close Spence]

This is the Ed McManon site does this site have any merit?
http://www.vrint.com/spot_map_resort.asp?ResortID=709

No merit, those same weeks that you point out will be listed there next year and the next year and so on. That company took an upfront fee of probably ~$800 and told those owners that they could sell for those prices because that's what they wanted to hear, now that's a scam.

The thing that gets be now is that if Intervall offers unlimited getaways why did the offer me just 12. They said with the getaways on average it would only cost me 300 to $400 for a week stay at any of the resorts in the book.

Getaways are the trash that no one else wants that is sitting there waiting to be used, or if it's a good week, it's something that someone with a real exchange cancelled at the last minute or an owner deposited at the last minute and it's gone within an instant of becoming available.

Can some one tell me what the Disney Wilderness Lodge would cost for a week in the red. I feel as if they are hidining something as they will not give me a temporay pass code to the Interval web site until wayoutsind the recind period

The range of getaway prices has been mentioned, it's usually by size of unit. You won't see DWL show up as a Getaway, don't count on the salesman's lies.

I have TWO 2BR summer weeks at a Bayse resort that I'll let you have for 1/10th of what you paid and I'll still be making money! You have 7 days from signing your contract to rescind, do it now by USPS Certified Return Receipt. There's nothing magic, just say you don't want it.

[Glitter Brunello Super Moderator Find all posts View Profile Close Glitter Brunello]

Doing some additional research on some sites it does show that what I have paid was in line with some of the resales online. I may have paid a little more.

This is the Ed McManon site does this site have any merit?

http://www.vrint.com/spot_map_resort.asp?ResortID=709

The thing that gets be now is that if Intervall offers unlimited getaways why did the offer me just 12. They said with the getaways on average it would only cost me 300 to $400 for a week stay at any of the resorts in the book.

Can some one tell me what the Disney Wilderness Lodge would cost for a week in the red. I feel as if they are hidining something as they will not give me a temporay pass code to the Interval web site until wayoutsind the recind period

I just paid $949 for a Getaway to Cancun in November. I did it because it is at a nice place over Thanksgiving and I needed the unit for family, but all the weeks at the resort were the same price. I just checked for Disney Wilderness Lodge for you, as I suspected there are NO Getaways available there, nor have I ever seen any.