New BG EOY/At Atlantic Palace - Another "Panic" Question

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

Hello again!

I've been reading the Equity Trade Contract from BG, and the document seems to indicate we've traded our unit at Atlantic Palace for a unit at Orlando's Sunshine Resort II in Orlando, FL!

Atlantic Palace has always been our home base because it's only slightly over an hour away. Is this just a formality, or did we really trade our AC unit for one in Orlando, FL?

I'm really concerned we're losing our favorite spot, and I hope I've misinterpreted the paperwork. Please advise...and thanks, in advance.

EG!

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

This one you got right. You are now an owner at an older resort in Orlando near Universal studios. However, that may not matter much if you want to use Club resorts.

You are now in a Club that has access to over 40 resorts. You can use your points at Atlantic Palace. You are actually on par with every other Bluegreen Vacation Club owner. Only the Premier owners will have a jump on you for booking reservations.

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

Thanks!

Thanks so much for responding. I was hoping I was wrong. Because of our work and life schedules (my husband & I are both Jazz performers), Atlantic Palace in Atlantic City is the only place we ever go to for a vacation.

I'm planning to contact the BG agent and see if we can get this changed. If not, we're still within 10 days of the date we signed the contracts, so we would have to cancel everything. I was so excited about switching over to points, but not being based in AC is a deal breaker for us.

Thanks once again for your expertise and help!

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

You are just deeded in Florida. The points you have can be used any where within the BG system. Right now our deed is for the new resort in Vegas and we will most likely not vacation there. At the end of the month we are using our points to go down and stay at BG Big Cedar club. We also go up to the Dells.

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

Hi!
Thanks for responding. When you first signed up, were you in Vegas, or is that just where they assigned your deed? We thought we would be deeded in AC like we were on our previous contract, but we didn't realize it was switched to FL. We're still hoping it can be changed. We're really attracted to the flexibility and the different locations, but we'd still like to be deeded in AC, close to where we live. Maybe that doesn't matter, since BocaBum99 mentioned in another post that the Premier members have first preference for booking locations.

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

Hi!
Thanks for responding. When you first signed up, were you in Vegas, or is that just where they assigned your deed? We thought we would be deeded in AC like we were on our previous contract, but we didn't realize it was switched to FL. We're still hoping it can be changed. We're really attracted to the flexibility and the different locations, but we'd still like to be deeded in AC, close to where we live. Maybe that doesn't matter, since BocaBum99 mentioned in another post that the Premier members have first preference for booking locations.

A couple of things you need to be aware of. First thing is about where you are deeded: it really doesn't matter..................you do have first dibs on your deeded week--even over premier members............but it is your exact deeded week that you have first dibs on....................unit, week, resort, etc. So, you could be deeded at Atlantic City but not want to go that particular week so then you would have to use your points to book a different time. AND I am guessing you were sold a limited # of points and it would be best, then, for you to not book an entire week anyway, to stretch your points.

You can RESERVE your deeded week, 12 months out. No other reservations can actually be MADE until 11 months out. A platinum premier member can get on the wait list at 15 months out to get a reservation 11 months out--that way the actual owner of the week, still has first dibs on that week 12 months out (down to 11 months and two days out, essentially). Gold Premier Member: 14 months out. Silver Premier: 13 months out. Bronze: 12 months out. Again: this means to be wait listed not reserved..........the wait list is fairly automatic into actual reservations at 11 months 1 day out but only if there is availability.

Hopefully, you can see from the above that it would be to no advantage for you to be deeded in the Bluegreen Vacation Club at Atlantic City, or Sunshine in Orlando or Laurel Crest in Pigeon Forge or Mtn. Run in Boyne Falls MI. UNLESS you wanted to always stay for the entire week of the fixed week that you actually own at Atlantic City.

However, because of all of the above, you may prefer to keep it the way things have been and retain your Fantasea (I think that's right????) ownership. Besides, do you know about resale points? There are qualified and non-qualified points and they cost at least 2/3 less than buying from the developer, although your actual price would have been probably a lower (than normal from the developer) cost per point as you were trading in your equity in your previous ownership.

Personally, I think based on what you have begun to understand, that it would be in your best interest to cancel (Follow the instructions given in another recent (probably today) thread about canceling) and do your due diligence as to learning about your various options and go with what you think you should do then, instead of rushing into this decision based on pressure from the salesperson.

I'm sure they gave you a once in a lifetime offer that you will never be offered again and you will never get a better deal than this............well, let me tell you, if you rescind and you decide to go back and buy from BG and trade in your current ownership, then you WILL be able to get the same deal you just signed up for OR even better.

And if you got a mortgage to pay for it--that's the worst. By all means cancel. No one should pay for a timeshare on a loan..............if something happens to you can you can't make the payments, you are stuck--many times people come to a board like this wanting to sell their points and they find out that they can get about a quarter a point for their points and it isn't nearly enough to pay off their mortgage. That's a very sad day for them............strapped financially and they can't even sell to pay off their debt..................talk about an upside down mortgage!!!!

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

Hi!
Thanks for responding. When you first signed up, were you in Vegas, or is that just where they assigned your deed? We thought we would be deeded in AC like we were on our previous contract, but we didn't realize it was switched to FL. We're still hoping it can be changed. We're really attracted to the flexibility and the different locations, but we'd still like to be deeded in AC, close to where we live. Maybe that doesn't matter, since BocaBum99 mentioned in another post that the Premier members have first preference for booking locations.

It is just where they assigned the deed. We sign up in Christmas Mountain in the Dells, WI. Like others have said, it really doesn't matter to much where you are deaded.

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

Thanks so much, everyone, for your responses! We're going to cancel our agreement with BG and get our FantaSea unit back. We'll continue to study here (and everywhere else) until we're ready to make the switch. I think we moved too fast without understanding everything.

I learned that we have to send a certified, return receipt requested, letter to cancel, and we have to give back all the materials. We're planning to drive back to AC today and return everything. We'll have copies of the documents to save and study until the time comes (we'll get more information about resale points, too). We're planning to send the certified, return receipt requested, document to the Florida Corporate office as well as have one for the AC office for them to sign that they received it and all the materials from us.

Thanks, again for your help!
EG!

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

I would suggest that you ONLY send the materials to Florida and not leave them in Atlantic City....................even with a signed statement. And you are probably only going to get grief from the sales team at BG Atlantic City if you go there. I would suggest just dealing with Florida corporate office and leave them out of it and save your gas money! (I just re-read your post; I thought you said you were going to go back to BG AC tomorrow but you said "today".....so this is probably a moot point, but still probably good to have here in the thread so others don't think this is required to do this; for some people that could be a thousand or more miles!)

[bfdretired Member Find all posts View Profile Close bfdretired]

This one you got right. You are now an owner at an older resort in Orlando near Universal studios. However, that may not matter much if you want to use Club resorts.

You are now in a Club that has access to over 40 resorts. You can use your points at Atlantic Palace. You are actually on par with every other Bluegreen Vacation Club owner. Only the Premier owners will have a jump on you for booking reservations.

I may not understand your transaction but if what Boca said is accurate and i am sure it probably is....you still can use atlantic palace and all of bluegreen....sounds good to me.....if you ever go to any BG resorts you will be satsified......good luck john

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

Hi!
We went to AC yesterday with 2 copies of a cancellation letter on our letterhead. The BG rep was very understanding...actually she did try to get us to change our minds a bit, but it was gentle prodding. We told her even though we wanted to be home based in AC, we really couldn't afford it (which was true).

We signed our letters in front of her, and got her to sign and (print her name) that she received the cancellation letter. She gave us a receipt for all the materials.

Today, I sent a separate letter - certified, return receipt requested - to the Florida office with a copy of the signed documents including the receipt for the materials. I tried to cover all my bases.

We're still interested in the BG timeshare, but we're going to wait until we can really afford it. With the original deal, BG had set us up for a loan at 12.9% (but I was planning to get a loan at my job for 6% to pay for the timeshare). The last deal the BG rep made on Monday was to give us a loan for 8%, but we'd have to pay the balance off in 1 year (that was worse than the 12.9% deal).

Anyway, I think for now, we did the right thing. We still have our little spot in AC under FantaSea, and we'll keep an eye on things and save our money. If we're able to travel, we have a membership with RCI, so we could exchange our week and go to Las Vegas (that's where we want to go someday).

Again, thanks so much for your help. I'll still be here studying.
EG!