Making an exchange through RCI...Help!!

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

Greetings all,

I started a thread a few weeks back inquiring on what closing company I should use to purchase a timeshare in Orlando (wk 30 @ Sheraton Vistana - Falls Section; 2bed/2 bath) from my boss. I received some great feedback on the closing company, but have since, been reconsidering the purchase. Here's how the purchase would break down:

Purchase price = $1000
2007 MF = Approx $800
Closing Fees = $325

Now, I'm not exactly sure how the whole "exchange" thing works through RCI. Here's what I "think" happens.

1. A person deposits his/her timeshare into RCI's bank.

2. He/she will request an exchange to one or more properties for one or more dates. I'm assumming you can rate your requests (I.E. #1 - WK 30 @ Sunterra Grand Beach w/ 2 bed, 2 bath, #2 - WK 28 @ Vacation Villas w/ 2 bed, 2 bath, etc...)

3. An RCI rep will contact the requestor to confirm an exchange when one of the requests has become available.

4. If suffice, the requestor will accept the exchange (along with exchange fee) and the transaction will be complete. If not, the requestor can decline until they're completely satisfied with the exchange.

Here's my my proposed scenario...

After doing my due diligence (verifying resort information, including potential transfer fees, reviewing traveler reviews, reviewing buyer feedback, etc...), I bid and win an auction on ebay to an RCI affiliated resort to, say, a 1 bed, 1 bath property for wk 40-fixed in Myrtle Beach for $700 (includes $30 final bid, $300 closing fee, and $370 2007 mf). Usage is annual and begins with 2007.

After the transfer has been completed and deed received, I deposit the timeshare into RCI and am free to exchange to my desired week @ desired location.

Here are where the questions arise...

1. I understand that transfers can take as little as 45 days and as much as 4 months. Worst case scenario, it takes 4 months and I receive the deed in mid-June. Would it be reasonable to say that if I win an auction today and the transfer isn't completed until June, that there is little chance of me being able to exchange my deposited week for a week in Orlando in late July?

2. If it's reasonable to say that the exchange could be made, than are exchanges just flat out week for week? For instance, in the scenario I provided, I would own a 1bed/1bath week in Myrtle Beach. Could this easily trade into any resort, regardless of whether my deposited wk is fixed or floating, the requested resort's class (gold, silver, etc), or the requested room size? Would the only determining factor be availability? Could I end up trading my 1 bed/1bath for a 3 bed/2bath?

I would much rather spend the $700 and be able to exchange into a resort compareable or maybe even an upgrade to the Sheraton Vistana if that scenario seems reasonable. I'm assumming this is common practice, but being new to the timeshare world, I'd just like to get some clarification.

Thanks for your time and patience!

Carmelo

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

Greetings all,

I started a thread a few weeks back inquiring on what closing company I should use to purchase a timeshare in Orlando (wk 30 @ Sheraton Vistana - Falls Section; 2bed/2 bath) from my boss. I received some great feedback on the closing company, but have since, been reconsidering the purchase. Here's how the purchase would break down:

Purchase price = $1000
2007 MF = Approx $800
Closing Fees = $325

Now, I'm not exactly sure how the whole "exchange" thing works through RCI. Here's what I "think" happens.

1. A person deposits his/her timeshare into RCI's bank. so far so good

2. He/she will request an exchange to one or more properties for one or more dates. I'm assumming you can rate your requests (I.E. #1 - WK 30 @ Sunterra Grand Beach w/ 2 bed, 2 bath, #2 - WK 28 @ Vacation Villas w/ 2 bed, 2 bath, etc...) you can't prioritize your requests, you just throw them all out and see what sticks. If you don't want something you're matched to, you can release it. If your search is online, the match will be held in your account for a couple of days waiting for you to confirm or release it. Also, if you request specific resorts, if they aren't for the same date range then you can't see the request online.

3. An RCI rep will contact the requestor to confirm an exchange when one of the requests has become available. they're not great about this if you make the request online; they should do it if you request it on the phone. We advise people to manage their own accounts online b/c the RCI reps are notoriously good at screwing things up

4. If suffice, the requestor will accept the exchange (along with exchange fee) and the transaction will be complete. If not, the requestor can decline until they're completely satisfied with the exchange. yes, with caveat above for online transactions

Here's my my proposed scenario...

After doing my due diligence (verifying resort information, including potential transfer fees, reviewing traveler reviews, reviewing buyer feedback, etc...), I bid and win an auction on ebay to an RCI affiliated resort to, say, a 1 bed, 1 bath property for wk 40-fixed in Myrtle Beach for $700 (includes $30 final bid, $300 closing fee, and $370 2007 mf). Usage is annual and begins with 2007.

After the transfer has been completed and deed received, I deposit the timeshare into RCI and am free to exchange to my desired week @ desired location.

Here are where the questions arise...

1. I understand that transfers can take as little as 45 days and as much as 4 months. Worst case scenario, it takes 4 months and I receive the deed in mid-June. Would it be reasonable to say that if I win an auction today and the transfer isn't completed until June, that there is little chance of me being able to exchange my deposited week for a week in Orlando in late July? there is generally a lot of Orlando inventory, but summer is busy, you may not get the resort you want except in the case of a last minute cancellation

2. If it's reasonable to say that the exchange could be made, than are exchanges just flat out week for week? For instance, in the scenario I provided, I would own a 1bed/1bath week in Myrtle Beach. Could this easily trade into any resort, regardless of whether my deposited wk is fixed or floating, the requested resort's class (gold, silver, etc), or the requested room size? Would the only determining factor be availability? Could I end up trading my 1 bed/1bath for a 3 bed/2bath? You could, but a fixed wk 40 in Myrtle Beach isn't going to have great trading power. Many "weaker" weeks can trade into Orlando most of the time with enough notice. You have the right idea trying to keep your MFs down, but I would spend a little more up front and buy something in prime season. Also might consider buying a resort that is affiliated with more than just RCI...

I would much rather spend the $700 and be able to exchange into a resort compareable or maybe even an upgrade to the Sheraton Vistana if that scenario seems reasonable. I'm assumming this is common practice, but being new to the timeshare world, I'd just like to get some clarification. trading into Orlando is generally considered the easiest trade out there. But you will likely be disappointed if you start hoping for big upgrades or want to use your mediocre trader to get somewhere else

Thanks for your time and patience!

Carmelo

Keep us posted!

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

Hello and welcome - I am going to answer in CAPS
But I think you should join Interval International https://secure.intervalworld.com/web/cs?a=5
NOT RCI - II puts great value on your resort and besides owning a Presidents Week - this is probably one of the BEST weeks to own in Orlando - every kid in America is on vacation in July

Greetings all,

I started a thread a few weeks back inquiring on what closing company I should use to purchase a timeshare in Orlando (wk 30 @ Sheraton Vistana - Falls Section; 2bed/2 bath) GREAT WEEK - 5 STAR WITH IIfrom my boss. I received some great feedback on the closing company, but have since, been reconsidering the purchase. Here's how the purchase would break down:

Purchase price = $1000
2007 MF = Approx $800
Closing Fees = $325

Now, I'm not exactly sure how the whole "exchange" thing works through RCI. Here's what I "think" happens.

1. A person deposits his/her timeshare into RCI's bank. OR II BANKs

2. He/she will request an exchange to one or more properties for one or more dates. I'm assumming you can rate your requests (I.E. #1 - WK 30 @ Sunterra Grand Beach w/ 2 bed, 2 bath, #2 - WK 28 @ Vacation Villas w/ 2 bed, 2 bath, etc...) SORT OF - WHATEVER YOU REQUEST, THEY WILL TRY TO MATCH. SO IF YOU PUT DOWN YOU WILL ACCEPT RESORT A,B,C,D & E FOR JULY7-14 CHECK-IN WHICHEVER ONE COMES UP FIRST YOU WILL GET. YOU CAN SPECIFY WHAT SIZE UNIT YOU WILL ACCEPT - SOME PLACES EVEN THOUGH U R TRADING A 2BR, YOU MIGHT SAY YOU WOULD TAKE A 1BR BECAUSE IT IS A HARD TRADE - THAT IS UP TO YOU. SO YOU SPECIFY TRAVEL WINDOW, RESORTS, UNIT SIZE AND THE FIRST THING THAT COMES UP THAT MATCHES THAT YOU WILL GET.
3. An RCI rep will contact the requestor to confirm an exchange when one of the requests has become available. YES, SOMETIMES - USUALLY RCI WILL CALL OR PUT A UNIT ON HOLD AND CONTACT YOU. WITH II - IF YOU HAVE IT DOWN AS PART OF YOUR REQUEST, THEY WILL CONFIRM YOU - BUT THEN WHY WOULD YOU REQUEST SOMETHING THAT YOU CAN'T USE???
4. If suffice, the requestor will accept the exchange (along with exchange fee) THE EXCHANGE FEE WITH RCI AND II IS COLLECTED UPFRONT. SOME INDEPENDENT AGENCIES DO IT DIFFERENTLY BUT THAT'S ANOTHER THREAD! and the transaction will be complete. If not, the requestor can decline until they're completely satisfied with the exchange. I IMAGINE SO WITH RCI???? BUT I ASK AGAIN, WHY WOULD YOU REQUEST AN EXCHANGE YOU DON'T WANT....JUST CURIOUS? II WILL CONFIRM YOU BUT YOU CAN CANCEL WITHIN 24 HOURS WITHOUT PENEALTY - THEY DON'T PARTICULARLY ADVERTISE THAT THOUGH
Here's my my proposed scenario...

After doing my due diligence (verifying resort information, including potential transfer fees, reviewing traveler reviews, reviewing buyer feedback, etc...), I bid and win an auction on ebay to an RCI affiliated resort to, say, a 1 bed, 1 bath property for wk 40-fixed in Myrtle Beach for $700 (includes $30 final bid, $300 closing fee, and $370 2007 mf). Usage is annual and begins with 2007.YIKES, YOU ARE GETTING SUCH A GOOD DEAL ON THAT 5 STAR/GOLD CROWN 2BR RESORT - ARE YOU CRAZY - okay, that is harsh - but it is not as easy as you are describing below....I was very proud of your grasp of the situation until we got to this point....

After the transfer has been completed and deed received, I deposit the timeshare into RCI and am free to exchange to my desired week @ desired location.

Here are where the questions arise...

1. I understand that transfers can take as little as 45 days and as much as 4 months. Worst case scenario, it takes 4 months OR 6 MONTHS OR MORE - THERE IS NO GIVEN and I receive the deed in mid-June. Would it be reasonable to say that if I win an auction today and the transfer isn't completed until June, that there is little chance of me being able to exchange my deposited week for a week in Orlando in late July? YES

2. If it's reasonable to say that the exchange could be made, than are exchanges just flat out week for week? For instance, in the scenario I provided, I would own a 1bed/1bath week in Myrtle Beach. Could this easily trade into any resort, regardless of whether my deposited wk is fixed or floating, the requested resort's class (gold, silver, etc), or the requested room size? NO, NO, NO, NO, NO - Would the only determining factor be availability? NO Could I end up trading my 1 bed/1bath for a 3 bed/2bath? POSSIBLE BUT NOT LIKELY - WHO WANTS TO GO TO MB IN OCTOBER - GOLFERS????, YES..... WOULDN'T MB IN JULY BE THE VERY POPULAR TIME?? THERE IS A REASON A WEEK 40 SELLS FOR SO MUCH LESS THEN THE SUMMER WHEN PEOPLE WANT TO BE THERE.

I would much rather spend the $700 and be able to exchange into a resort compareable or maybe even an upgrade to the Sheraton Vistana if that scenario seems reasonable. WOULDN'T EVERYONE???? I'm assumming this is common practice, but being new to the timeshare world, I'd just like to get some clarification.

Thanks for your time and patience!

Carmelo

Carmelo - PLEASE do not buy a week 40 1BR in MB - instead of the very good deal you are receiving in Orlando at the Sheraton...
I will let other jump in here......

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

Carmelo - Glitter is a much quicker typist than I am BUT we are both giving you the same message.....

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

Carmelo - Glitter is a much quicker typist than I am BUT we are both giving you the same message.....

Actually, I think together we have given you a better complete picture:

1. Forget about that dog Myrtle Beach week 40
2. If you want to go to Orlando, your boss' deal is a good one. There is no point in making yourself nuts trying to figure out how to trade in there in the summer if you know you want to stay at Vistana.
3. Definitely consider II over RCI. There are also some nice independent companies like SFX.

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

Actually, I think together we have given you a better complete picture:

1. Forget about that dog Myrtle Beach week 40
2. If you want to go to Orlando, your boss' deal is a good one. There is no point in making yourself nuts trying to figure out how to trade in there in the summer if you know you want to stay at Vistana. Even if you don't want to go to Orlando, a Sheraton week trades VERY well in II (although I don't think the Falls section is part of the Starwood family)
3. Definitely consider II over RCI. There are also some nice independent companies like SFX.

Yup.......

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

You have good advise from the previous posters. I've been an owner at Vistana since 1996. Our first stay there was in the Falls section and we liked it so well that we bought a Fountains unit. I like to switch around to other Orlando resorts, but my kids always wind up wishing they were at Vistana.

I've considered selling my Vistana weeks because of the higher Florida maintenance fees, but when you actually use the week you own, you have saved on the exchange fee, which probably offsets the higher maintenance. And you always know your week is there waiting for you without the hassle of trading.

There are lots of ways to get into Orlando and if you don't need Christmas or Spring break, most of them would work fine. If there is another area that you like to vacation often, buy a week there, but don't buy an off-season week that will have little value to you.

Sheila

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

Finally made a decision...

Thanks for all the feedback!

I finally just listened to the "misses" and decided to stick with Vistana. Why risk not getting the vacation week that I want year after year when I can already own the one that'll best suit me and the family?

I submitted the application for the deed transfer today with Timeshare Transfer, Inc. The ball's finally rolling for this newbie!

Thanks, again!

Carmelo

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

Thanks for all the feedback!

I finally just listened to the "misses" and decided to stick with Vistana. Why risk not getting the vacation week that I want year after year when I can already own the one that'll best suit me and the family?

I submitted the application for the deed transfer today with Timeshare Transfer, Inc. The ball's finally rolling for this newbie!

Thanks, again!

Carmelo

You won't be sorry.
Now stick aroud here and decide what to buy for your 'trader' week!