Help! Need advice!!

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

I just purchased a two bedroom lock out in Myrtle Beach with Westgate. It is a every other year deal, so we don't pay maint. fee every year. We paid 10,500. It is a floating week. And we just pay a flat rate to exchange $140, no points. Should I cancel, or is it a pretty good deal?

[aliikai2 Super Moderator Find all posts View Profile Close aliikai2]

Cancel Cancel Cancel Cancel

In case I wasn't clear, CANCEL now.
You can buy some great MB weeks for less that $2000 with annual use. Cancel and research for the next few months, then when you know what is a great buyer, then and only then buy.

jmho, Greg

I just purchased a two bedroom lock out in Myrtle Beach with Westgate. It is a every other year deal, so we don't pay maint. fee every year. We paid 10,500. It is a floating week. And we just pay a flat rate to exchange $140, no points. Should I cancel, or is it a pretty good deal?

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

I just purchased a two bedroom lock out in Myrtle Beach with Westgate. It is a every other year deal, so we don't pay maint. fee every year. We paid 10,500. It is a floating week. And we just pay a flat rate to exchange $140, no points. Should I cancel, or is it a pretty good deal?

Floating over which period? Winter, all year, summer only?

What is the MF on the year you use?

Where is the $10,500 come from before you buy it?

Say you have 10,500 sit in the bank earning 5%, so for 2 years, you are lossing $1000, plus the MF. It probably about $800 per year, so that is 1800. Is the period you can floating around cost you $3600 to rent? If so, own is worth it. If not ... Is the view is so spectacular, that you have to own it? Or if you want to make sure you get to spend that money on yourselves?

Most likely, no. But not owner of Westgate, and have no idea about their resort in SC, so could not help too much here. But you should be able to get similar deal when you want to. So if you are unsure about it, you should cancel.

Jya-Ning

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

[SIGN]CANCEL[/SIGN]


Be sure to follow the rescission instructions in the contract to the letter. Then do plenty of research, hang around here, and buy what/where will work for you after you KNOW what you want, at the right price.

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

It is a red season, so it is throughout the year, every season.
Maint. fee is $350.
They offered a loan through them at 9%.

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

It is a red season, so it is throughout the year, every season.
Maint. fee is $350.
They offered a loan through them at 9%.

Please, do NOT go through with it. You will never be able to get out from under the payments if you decide it doesn't work for you. At least if you were to buy it for cash outright (not something I'm advocating, either), and you decide you don't want it anymore, you can unload for 10 or 20% of what you paid. But no buyer will ever agree to take over your payments, though there are plenty of sleazy companies that will lie to you, and take more of your $ up front on the promise of a sale that won't ever come to pass.

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

Letrav...sent you a private message with my personal experiences.
Click on the private messages link at the top of the page and go to your inbox.
Please read.

Please listen to these experts!

Kathleen

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

It is a red season, so it is throughout the year, every season.
Maint. fee is $350.
They offered a loan through them at 9%.

So, for 1st 2 years, you pay about $1800 in interest. $350 sounds like you are going to pay for every year. Not on the year you use. Wetsgate 2 BD on beach can not be this much. You just don't need to pay the 1st year. That is $2500 for 1 week usage.

Do you pay $5000 for similar type of stay during summer now? And do you go out every summer?

Jya-Ning

[funtime2 Senior Member Find all posts View Profile Close funtime2]

Cancel and do some more research. If it is a good deal now, then it will also be a good deal later when you have sorted out the facts.