Just bought my first time share. [Vacation Village at Parkway]

Hi. I just bought my first timeshare, Vacation Village at Parkway. I was actually really close to buying this from a presentation for about 16k. Gladly my wife stopped my urge. After doing research, I found out how ridiculous cheap the timeshare sold for second hand, and was amazed how much they lied to try to get me to sign and pay. Anyway, I searched for the same type of package I was offered from ebay. A two bedroom/two bathroom unit with a floating week 31 /w RCI 92,500 points. This is even years which is great since I don't have to use it annualy. Got it for about 2k. DO you guys think I paid too much or was it a fair deal, most f the 2k were to pay all transfer fees?

Second, from those who have purchased from ebay, after everything is approved what type of information and documents do you get? Is there an account that tells me how many RCI points I have? Part of the fees listed mentioned RCI transfer fee for around $200.00. This Is my first timeshare and would like to know what to expect, mostly with the RCI points. THank you!

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Transfer fees of $2000?

The LT Transfers (a TUG member) charges $149-199 for transfer plus the recording fee at the FL county (under $50) plus the resort transfer fee (don;t know but most likely under $300) ....

I am wondering HOW your transfer fees got to be $2000 via this closing company?

Sorry for not being clear on that. The total cost was 2k. 1k for the timeshare itself and 1k for fees and maintance fee the seller had already paid for this year.

Also since I supposedly get 92,500 rci points, will RCI know about that when I make a new account with them? or does the deed state that which is incorporated into account or unit..

Nyankee said:

Also since I supposedly get 92,500 rci points, will RCI know about that when I make a new account with them? or does the deed state that which is incorporated into account or unit..

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You're going to have to pay an initial fee or $224 or so to RCI to establish your account. When you give RCI your VV Account #, they should be able to find it and attach it. After that, I think it's $89 a year, EVERY year, even your non-use years.

Ty1on said:

You're going to have to pay an initial fee or $224 or so to RCI to establish your account. When you give RCI your VV Account #, they should be able to find it and attach it. After that, I think it's $89 a year, EVERY year, even your non-use years.

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Plus the $200 exchange fee each time you exchange, although I think if you exchange back into your home resort it is about $40 or $50?

PS what is a floating week 31? Either the underlying week is week 31 or it isn't.

I never purchased on ebay, but I did get a freebie from another site and the first thing they sent me was a purchase agreement. Then the estoppel to make sure I was getting what I expected, then a copy of the sellers deed when he acquired it and then finally my deed (for me- it is actually a trust agreement, as the resort has changed the way they issue ownerships). Also, I verified everything with the resort. I even asked for pictures of the unit (mine was a fixed week/fixed unit). Oh, and the resort also sent me a copy of what they sent to the owner in terms of all the instructions of how they wanted the transfer to occur- what they required.

I didn't pay any closing costs for mine- but I know the owner paid a transfer fee of $400, which is kind of high for a resort to charge from what I understand. He also paid this years' maintenance fee (2015) which enabled me to use the week this summer for free as well. This was required by the resort.

Many of the Vacation Villages have fixed week but float units.

Make sure when the current owner fills out the RCI transfer form it indicates that you get the 2015 points.

tschwa2 said:

Many of the Vacation Villages have fixed week but float units.

Make sure when the current owner fills out the RCI transfer form it indicates that you get the 2015 points.

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But- how can you own a certain week- in this case week 31- if it floats? Wouldn't that mean it is always a different week and not week 31? Or- are the points they purchased based on a week 31 week but that is not what they are guaranteed to reserve every year within the timeline?

I admit I don't know a lot about points. At our resort, if you have RCI points you have a fixed underlying week. If you own week 31-that's your week you can reserve in advance within the timeline and what your points are based on. Floats are considered not being of any particular week or, at our resort, are assigned to a different week every year.

mpumilia said:

But- how can you own a certain week- in this case week 31- if it floats? Wouldn't that mean it is always a different week and not week 31? Or- are the points they purchased based on a week 31 week but that is not what they are guaranteed to reserve every year within the timeline?

I admit I don't know a lot about points. At our resort, if you have RCI points you have a fixed underlying week. If you own week 31-that's your week you can reserve in advance within the timeline and what your points are based on. Floats are considered not being of any particular week or, at our resort, are assigned to a different week every year.

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Float Unit/Fixed Week. They can assign any room of your type in Week 31.

Ty1on said:

Float Unit/Fixed Week. They can assign any room of your type in Week 31.

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Aaaahhhhh- oh- I see now. Never knew that. So you never have the same unit, but you have the same week. Interesting!

Floating ownerships are so different at various resorts I am learning. Some people own floating weeks that they have to reserve a week they want. At our resort, the floater we have is "attached" to our fixed week- the unit is always the same as our fixed week unit, but the resort assigns a different off-season week for us to use every year. In this case- the owner always has week 31, but is assigned a different unit each time.

There are more variations of timeshare ownership than I think any other product on the market! So complicated! It's a whole 'nother world! No wonder people get so confused when looking into acquiring them and even afterwards have such difficulty utilizing what they have!

So will I have like a hydrid timeshare that is both week and points? Would I be able to use them in both different ways?

Nyankee said:

So will I have like a hydrid timeshare that is both week and points? Would I be able to use them in both different ways?

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You have a WINDOW of time to confirm that you want to USE the assigned fixed week ... like 13 months before checkin. At the 12 month mark, you can reserve ANY available RCI Points week that THEIR owner did NOT reserve at the 13 month out from the first checkin day -- you pay an exchange fee to RCI of either $40-50. At the 11 month out mark, you can reserve at full RCI Points exchange fee a week at any resort within YOUR HOME GROUP, any week either the OWNER did not reserve NOR any other Points owner at THAT resort during the prior 2 reservation windows. At 10 months out from the checkin day ... any RCI Points owner can book any available inventory with FULL exchange fee.

HOME GROUP is the tricky one .. my HOME GROUP is VRI .... large company, many resorts. Other resorts may NOT have a HOME GROUP ... but if you decide to book back at YOUR HOME RESORT .. the booking window determines the EXCHANGE FEE ....

So in timesharing ... PLANNING is key! Both in your available bookings and in HOW MUCH it can cost you.

This thread I found explains the home week, home resort & home group in great detail.

http://www.tugbbs.com/forums/showthread.php?t=186609

Are the roll over years the same for all RCI members? I read some have 3 years or unused points that transfer o the next year, but the one that I purchases the ad said two years.

Congrats

Congrats on entering the world of Timesharing.
(I also own at Village Parkway)
Side Note on Points:
If you allow your week to deposit and take points..
You are not restricted to a simple 7 day vacation.
I love using my points for 9 days (catching two weekends)
Checking in Friday - Check out Sunday

Or 3 day vacations - often used them as a mid point to where I am traveling to