Message For BlueGreen Owners

[Tom in GA Member Find all posts View Profile Close Tom in GA]

Really GONE

Our condo in Navarre Beach ran into some management problems in the last two years of ownership....like not taking care of it and some questionable use of funds. The owners became upset and were starting to take legal action when the hurricanes hit. We decided a few days before mandatory evacuation of the first hurricane to do a quit claim deed and give it back to the association, thereby severing our legal ties.....good thing too, because owners had to pay for a couple of years dues after there was nothing left. The insurance carried was not enough to rebuild the place. I don't know anything more about it at this time. The assocaiation did have a 99 year lease from the government on the out island property, so maybe somebody got something for it. But for our initial $4350 price (1 bedroom, 3rd floor, overlooking the white sand beach), we did have some good times there over the 23 years....we do miss it....and our many friends that we came to know.

[ben1973 Junior Member Find all posts View Profile Close ben1973]

to BocaBum99 and pals

Rather than try to address all the points made, I will say a couple of things. I can see that no matter how much I explain myself, there are several people on here who have the already-decided belief that anyone who isn't happy with Bluegreen has only themselves to blame.

I will say this: the real estate market has gone down, yes, but my points were *immediately* worth far less and have been ever since. And it's quite telling that Bluegreen now says that "one point" is worth a lot more than it was when I bought, meaning my points have theoretically increased in value. Obviously, they haven't, since no one will even pay half the purchase price.

Also, it's interesting to me that *we* are to blame for believing that what the salesman told us is true. It's a sad society in which we live where a person is blamed for believing that something told to him by a representative of a corporation with a good name cannot be trusted. I guess I'll push my "faith in human nature" notch down another couple of points, and it wasn't that high to begin with.

This is mainly directed toward "BocaBum99." We actually have 12,000 points which are awarded every 2 years. We can use them anytime, really, and have tried to only book in the offseason so that we could get as much use as possible.

What do you think a realistic figure is for selling these, and what are all the fees involved? Also, are you interested in buying them? I am also a member of the TUG (Timeshare Users Group) and have considered listing the points there. Is that a good idea?

At this stage, we are no longer interested in any advice about how to "make the best" of our points. No matter how you slice it, we are paying $700 a year until we go to our graves, and timeshares, when wanted, can be rented for a fraction of the fees we have had to pay over the last few years. We want this huge burden off our backs, and we will never deal with Bluegreen again. After all the lies they told us, we do not trust that any of the other information we were given was true, and we are confident that they will continue to screw us over and make our points less valuable any way they can over the years to come.

As an aside, the timeshare resale industry is just as sleazy as Bluegreen and the timeshare industry in general. My advice: don't pay a *dime* up front to any company that says they can sell your points. We already got screwed that way too. It's been a fun ride, but we're ready to get off and go home.

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

Ben,

You are entitled to feel anyway you want about Bluegreen, the Bluegreen Vacation Club, Timesharing developers and timeshare resale outfits. That is your right. None of us want to take that right away from you. It's just that others on this message board have learned how to use the Bluegreen Vacation Club in a positive way. There is nothing wrong with that view either.

Is it true that you didn't get what you thought and the sales person you met lied and/or exagerated what the Club could do for you? The answer is probably "yes." It is also true, that whenever purchasing big ticket items "caveat emptor" applies. Let the buyer beware. You bear some responsibility for not performing adequate due diligence on a large purchase. That's all I'll say about that.

Regarding your specific question, I sell 12000 biennial packages for about $300 in today's market plus closing and 2010 maintenance fees. If you offer it for around that amount, someone will take likely take it. If you offer it for significantly more than that, nobody will take it.

The unfortunately situation is that resale timeshares aren't worth much at the moment. This is really good for savvy buyers and really bad for any sellers.

The one thing you can count on from this message board is that we will tell you the truth. If you have any other questions, post them here and we will try to help.

[BeerTentRich Member Find all posts View Profile Close BeerTentRich]

12000 annual points

Boca Jim .......I presently have 24000 annual points.....how much would I pay to buy another 12000 ANNUAL points ???? If it's cheap enough I may be looking to buy ........

[ben1973 Junior Member Find all posts View Profile Close ben1973]

wow

Wow... it's amazing how worthless these things are.

Thanks for the help, though... I do want the truth as we want to get rid of these. With the market low, do you think it's worth trying to rent the points for a couple of years? If so, what do you think is the best way to rent them? Ebay? TUG? Craigslist? other?

Oh, and one more thing about selling, although I'm not sure it matters... we do *own* the points. We didn't want to do some payment plan at 23% interest, so we just bought the points outright. Not sure if that would matter to a buyer or not.

Thanks,
Ben

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

Wow... it's amazing how worthless these things are.

Thanks for the help, though... I do want the truth as we want to get rid of these. With the market low, do you think it's worth trying to rent the points for a couple of years? If so, what do you think is the best way to rent them? Ebay? TUG? Craigslist? other?

Oh, and one more thing about selling, although I'm not sure it matters... we do *own* the points. We didn't want to do some payment plan at 23% interest, so we just bought the points outright. Not sure if that would matter to a buyer or not.

Thanks,
Ben

Ben,

Points accounts cannot transfer unless there are no outstanding fees. So, having a mortgage is a problem only when the seller cannot pay off the balance with either proceeds from the sale or other funds. It's good that you don't have a mortgage because that is often times the boat anchor that prevents owners from being able to get rid of their timeshare without simply defaulting and killing their credit rating.

One of the issues you have is that you own so few points. 12000 biennial points have a pretty high maintenance fees and taxes if you bought them within the last 5 years. Given what you own, it should be: $553/year plus $129 annual dues which is $682/year for what amounts to 6000 points per year. You are paying over $.10/point every year of your points. You can rent, but you are not likely to cover your expenses.

My recommendation for you is to simply give your points away for the market rate and get out. Look above. BeerTentRich needs more points. Given that, he will buy your points for the market rate. If you need help, I can facilitate the transfer for all parties.

The other alternative is to add another 12000 biennial points package to make your ownership more useful to you. You could add them for around $300 plus closing and 2010 maintenance fees. But, if you purchase the right points, your total fees would be: $796 + $129 = $925 = $.0771/point. Notice that you doubled the number of points, but your fees only went up by $243. The Bluegreen Vacation Club is set up to reward owners who own more points witih lower fees per point.

So, there is a way out. Or, there is an approach to using what you own to vacation. You just need to be aware of what the real market is.

Let us know if we can answer any more of your questions or help you out.

Jim

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

It matters

Oh, and one more thing about selling, although I'm not sure it matters... we do *own* the points. We didn't want to do some payment plan at 23% interest, so we just bought the points outright. Not sure if that would matter to a buyer or not.

Thanks, Ben

It is my understanding that you cannot transfer your "Owner Beneficiary Rights" until the mortgage is paid off and all dues, fees, and penalties are paid. The new owner will get the unit with no money owed to BG or the BG Trust. Of course, the seller and buyer can have other contracts not involving BG.

An answer to an earlier question, closing costs are about $475. Those units you see on eBay with $500 closing costs and $475 Resort Transfer Fees are really just a double closing payment.

Charles

[ben1973 Junior Member Find all posts View Profile Close ben1973]

to BeerTentRich

Do you want these points that we've been talking about? I'm not positive about this, as I'm going to check on a couple of other places, but we really do want to get rid of them as soon as possible. We get 12,000 points every two years. The maintenance fees are pretty much what Boca listed above.

Thanks,
Ben

[BeerTentRich Member Find all posts View Profile Close BeerTentRich]

I would be looking for points that include the PREMIER Benefits. In order to that I think I need to buy through Boca Jim...............

[swirg53 Senior Member Find all posts View Profile Close swirg53]

I would be looking for points that include the PREMIER Benefits. In order to that I think I need to buy through Boca Jim...............

or through Pinnacle Vacations directly, assuming you are talking about resale.

[ben1973 Junior Member Find all posts View Profile Close ben1973]

look how valuable my Bluegreen points are!

"I would be looking for points that include the PREMIER Benefits. In order to that I think I need to buy through Boca Jim..............."
-----

For all you who keep assuring me that my points are worth something, take a look... you can't *give* these things away!

Ben

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

Wow... it's amazing how worthless these things are.

Thanks for the help, though... I do want the truth as we want to get rid of these. With the market low, do you think it's worth trying to rent the points for a couple of years? If so, what do you think is the best way to rent them? Ebay? TUG? Craigslist? other?

Oh, and one more thing about selling, although I'm not sure it matters... we do *own* the points. We didn't want to do some payment plan at 23% interest, so we just bought the points outright. Not sure if that would matter to a buyer or not.

Thanks,
Ben

Ben,

Send me a private message with your email address and I will help you find a buyer for your Bluegreen Points.

Trying to sell your points on a thread dedicated to saying how worthless Bluegreen points are is probably not the best of marketing strategies.

Jim

[ben1973 Junior Member Find all posts View Profile Close ben1973]

good point

I'll send you an email.

[Phase700B Junior Member Find all posts View Profile Close Phase700B]

Blueegreen Points

My wife and I have enjoyed the use of our Bluegreen Vacation Club points for 14 years. Now, because of health issues and other concern we would like to sell 9,000 points. We are also concerned about transfer fees and some places that charge upfront fees , but provided little or no results. Can some suggest a reliable way to do this? Thanks!

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

My wife and I have enjoyed the use of our Bluegreen Vacation Club points for 14 years. Now, because of health issues and other concern we would like to sell 9,000 points. We are also concerned about transfer fees and some places that charge upfront fees , but provided little or no results. Can some suggest a reliable way to do this? Thanks!

No one can guarantee a sale, particularly a sale at a price you like, but there are other options besides the guys who charge big chunks of cash. For instance, there are sub-boards both here and at TUG you can list your points for sale on. I would recommend you have a specific Realtor in mind to do the paperwork and hold the money for you, someone trustworthy and bonded. I don't know if they'd need to be licensed in Florida or not but I'm sure you can get some good recommendations here.

Another option would be Boca Bum, who has posted to this thread a time or two. He is not just a reliable Realtor; he can expedite the paperwork for you and allow you to pass on the special perks that go with your ownership if the buyer's willing to pay Bluegreen for them. Which latter is true of anyone at Pinnacle, I believe, but I have dealt with Boca Bum myself and so feel confident recommending him.