Will this late-banked week have any value?

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

I purchased a 2BR Hot Springs Arkansas wk #28 and was hoping it would close in time to deposit with II as I am already an II member. Since that's not an option, my only option is to have the seller bank it with RCI prior to closing so I have use of it. Is it worth it? I believe my only cost would be my RCI membership fee? Will it have any value as it's only about 2 months prior to use that it would be banked? I am not familiar at all with RCI...

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

Probably little or no trading value. RCI wants deposits a year or more in advance or they penalize you.

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

Nevermind......I misunderstood your post.

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

I purchased a 2BR Hot Springs Arkansas wk #28 and was hoping it would close in time to deposit with II as I am already an II member. Since that's not an option, my only option is to have the seller bank it with RCI prior to closing so I have use of it. Is it worth it? I believe my only cost would be my RCI membership fee? Will it have any value as it's only about 2 months prior to use that it would be banked? I am not familiar at all with RCI...

Remember that RCI also charges $79 to transfer a week to someone else's account.

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

Ok, thanks, that was my guess from the little I know of RCI. I guess I am better off trying to rent it out.

[joycapecod Silver Contributor Find all posts View Profile Close joycapecod]

I believe if the resort removes the week from the sellers RCI account and deposits it to the new buyers RCI account then the $79 fee is waived. At least it USED to work that way. When I was in the weeks business that is how we did it; that was about 5 years ago, so things may have changed.

This was one of the resorts I did a good bit of business with and they do have the ability to remove and rebank. You, as the new owner would need to establish an RCI account in order to have the unit banked. You can also find out from either the seller or the resort if the unit has been confirmed by another RCI member. If it has not been confirmed then the seller can have the unit undeposited; you will then be able to redeposit to Interval and maybe even get an AC since it is a week 28.

Now as I mentioned, I have been out of the weeks business for 5 years, and I'm sure some (or many) things have changed, but it is worth checking out.

Joy

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

Could this week possibly trade in low season to Orlando, for example into HGVC? I am just trying to decide if it can have ANY value to me?

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

That should be possible.

[neash Member Find all posts View Profile Close neash]

Could this week possibly trade in low season to Orlando, for example into HGVC? I am just trying to decide if it can have ANY value to me?

If you can make last minute travel plans, RCI has some really good exchanges in the 2 week window. Check out the Exchnage OPs that Lawren posts.
Thanks Lawren

[lawren2 Malibu Beach Barbie & A Super Moderator Find all posts View Profile Close lawren2]

Could this week possibly trade in low season to Orlando, for example into HGVC? I am just trying to decide if it can have ANY value to me?

Maybe not HGVC but Orlando shoulder season might be possible. We are currently in what week 17? and you are considering depositing a week 28. This is going to have very very little value and I'm trying to remember if you can even deposit within 60 days with RCI.

Edit to add here is the final answer regarding how close to check-in you can deposit: How far in advance can I deposit my week—and how close?
You can deposit from two years to *14 days before the start date of your Vacation Week. The earlier you deposit, the more you maximize your Trading Power � and the more opportunities you'll have for a match when you're ready to make an exchange.
*If you have a deposit that is less than 14 days before the start date of your week, please call 1-800-338-7777 and speak with an RCI Guide for assistance.

Personally I'd make the seller keep the week and pay the MFs for it.

If you can make last minute travel plans, RCI has some really good exchanges in the 2 week window. Check out the Exchnage OPs that Lawren posts.
Thanks Lawren

Glad you all find that "woof" feature a benefit. I like to watch trends.

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

I believe if the resort removes the week from the sellers RCI account and deposits it to the new buyers RCI account then the $79 fee is waived. At least it USED to work that way. When I was in the weeks business that is how we did it; that was about 5 years ago, so things may have changed.

This was one of the resorts I did a good bit of business with and they do have the ability to remove and rebank. You, as the new owner would need to establish an RCI account in order to have the unit banked. You can also find out from either the seller or the resort if the unit has been confirmed by another RCI member. If it has not been confirmed then the seller can have the unit undeposited; you will then be able to redeposit to Interval and maybe even get an AC since it is a week 28.

Now as I mentioned, I have been out of the weeks business for 5 years, and I'm sure some (or many) things have changed, but it is worth checking out.

Joy

Joy, do you think the resort would allow the OP to 'float' the week - they take the week 28 and give her a later one to deposit into II?
Or can the resort just deposit a week for OP without it being added to her/his acount as an ownership in II or RCI?

[joycapecod Silver Contributor Find all posts View Profile Close joycapecod]

Pat,

The woman I worked with is not with the resort any longer. It is my understanding that all weeks at this resort are fixed. I know that the resort used to bulk bank weeks that were not "owned" and if the week/unit were sold then the resort would make the deposit to the buyer account. I believe that still if the seller has deposited the week and the resort pulls it the initial banking date will be the date that is used to determine trade power.

The week would go from the seller account to the resort bulk bank account. From the resort bulk bank account it would go to the new owner. The $79 fee would not be in effect and the trade power would be effective the original banking date.

Now, could the resort "bank" the week for future use with the resort...in a word, no. This is a fixed week resort. Could the resort substitute a different week for payment of fees...yes, IF there are available weeks in the bulk bank account.

Over the past several years resorts have not been as apt to bulk bank due to RCI policies regarding "ownership" of the bulk deposited weeks. If you want more info regarding this PM me.

Joy

[joycapecod Silver Contributor Find all posts View Profile Close joycapecod]

Pat,

The woman I worked with is not with the resort any longer. It is my understanding that all weeks at this resort are fixed. I know that the resort used to bulk bank weeks that were not "owned" and if the week/unit were sold then the resort would make the deposit to the buyer account. I believe that still if the seller has deposited the week and the resort pulls it the initial banking date will be the date that is used to determine trade power.

The week would go from the seller account to the resort bulk bank account. From the resort bulk bank account it would go to the new owner. The $79 fee would not be in effect and the trade power would be effective the original banking date.

Now, could the resort "bank" the week for future use with the resort...in a word, no. This is a fixed week resort. Could the resort substitute a different week for payment of fees...yes, IF there are available weeks in the bulk bank account.

Over the past several years resorts have not been as apt to bulk bank due to RCI policies regarding "ownership" of the bulk deposited weeks. If you want more info regarding this PM me.


Regarding II; I am not as versed with II, but I believe that if the resort does any bulk banking with II it is possible. I do not think that resorts bulk bank with II as they did with RCI. It is usually developer weeks that are bulked in to II as opposed to owner weeks. Again this is a fixed week resort. The only benefit of bulk banking weeks is if the resort is floating.


Joy

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

Could this week possibly trade in low season to Orlando, for example into HGVC? I am just trying to decide if it can have ANY value to me?

Yes, I know you can do that. I had a blue week that I deposited about one week before the start date, and RCI was kind enough to give me a great last-minute exchange to Hawaii, The Shearwater, with it. I gave it to our son's friend as a wedding gift because they had a hotel booked for that week that wasn't very nice.