Hi!
Yes, if she pays $99, she will be points again. I did not ask about if point weeks will be available until her next use year. I stop asking since they said the week point will be zero even she pays. Yes, make more sense to get it appeal to the buyer if we pay the $99. Anyway, I do not know how it works though to keep all the week points.
They can use Grandview the week 26 (I am not sure what it means), but it is between March 26 - April 1 which already passed
Thanks for the info regarding the LT Transfer. I will call them up on Monday to find out the fees.
The family member would be us, but we are not intersted in using it though. I think her intention is to get rid of it as soon as possible. I wll post the ads in Bargain bin as soon as possible after I find out al the fees first.
Thank you again for your all help!!!
This year week 26 is, depending on the check in day, June 29, 30 or July 1. If the days of March 26 to April 1 are correct then it is likely either week 12 or 13. That is often a Spring Break and March Madness time too which is great! But either way makes it a 49,000 point week. It makes more sense that it would be either week 12 or 13 as it has already passed and why there would be no points for this year.
Just so you know in case a potential buyer would ask, once it is back in points if they want to use the week they actually own they have to book it 11-12 months in advance or they are stuck using the points. Also there is no exchange fee when you do book and use "your" week. I would never recommend using the week they actually own instead of the points as reservations are very easy to get at Grandview Las Vegas, especially in a one bedroom. Reservations at Grandview in one bedroom units and often two bedroom units too are available with both sale weeks or discounted point weeks all the time.
Another thing to know is that owners at Grandview Las Vegas as part of the Vacation Village family of resorts get a "free" week an a number of resorts for no points just a fee, usually anywhere from $219-$269 depending on the unit size and time of year. But those "free weeks" are within 45 days of check in. There is really quite a lot available and a lot of resorts to choose from.
Something else you might be asked. If you aren't able to use any or all of your points in your use year you can pay a fee to extend them.
Another perk of owning at Grandview is if you agree to attend a sales presentation owners get offered better choices of what they receive for attending. We just did it when we stayed there as it was our first time staying there and we wanted the grand tour. They took us to the lunch buffet at Southpoint which was very good. We could have picked an earlier time and gone to the breakfast buffet but lunch is more expensive and they paid so duh. Instead of an $80 gift card we selected one of the options to pay for show tickets. The one we selected included dinner. We paid $50 and got two very good seats in the third row to see Mystere, a Cirque du Soleil show at Treasure Island and the dinner buffet at TI. Even if you figure that it cost us $130, the $80 gift card we gave up and the $50 we paid, it was a excellent value. I had the list of options ahead of time so searched online and the cheapest tickets I could find for Mystere were more than that! The food was very good and we both loved the show.
You should contact the resort to get an estoppel letter as most buyers will want to see one. It confirms that the deed has no encumbrances or liens, is paid in full, no special assessments owed and that the maintenance fees are paid up to date.
I would guess that anyone who wants this, at least anyone who knows what they are doing, it will want you to pay the $99 to get it back in the points program before the deed gets transferred. You may want to proceed with doing that now so you can definitely tell prospective buyers it is points. Otherwise you get a lot of how can I be sure questions from potential buyers. What I'm not sure of and you will want to ask is if the $99 includes the first year's membership fee in RCI. Unless the prospective buyer is already an RCI member it would save them money to have you transfer the RCI account to them as part of the deal. However before you do this give some thought as to whether or not you might be better off to just pay the resort $500 to take the deed back.
To transfer your RCI subscribing membership, you must fill out a Membership Transfer Application (MTA). You can find an application on the RCI website. Once you’ve completed your application, you fax or mail the form back to RCI®, as indicated on the form. The fee is $98.
Another thing to consider if paying the $99 to get the week back into points includes the first year's membership in RCI is instead of transferring the account to the new owner you could keep the account for yourself. It would allow you to buy and use last minute weeks and sale weeks. Many people keep their RCI account to be able to do that.
After you get a figure from LT Transfers about what they charge. Tally up all those fees and transfer costs to come up with a total.
Back into points fee: $99
Closing Costs: ?
Resort transfer Fee: $250.00
RCI Enrollment Fee: $224 or $98 if an RCI Points Member Currently (Your option to include this or not.)
or instead
Potential transfer of account fee, MTA: $98 (Sorry I'm not sure if the $98 fee in the line above would still apply but I think it might as it applies to the deed not the RCI account.)
You could also try putting an ad on Craig's List, your local paper or weekly penny pincher. If you use Craig's list don't give your phone number or email address in the listing. But you will still likely get a number of responses of people offering to help you sell your timeshare. Don't fall for it or reply to them. Make sure you emphasize that it is a Spring Break/March Madness week. I would list a price and say it includes all fees and transfer costs. you could even post what you have for sale on a bulletin board at work or on Facebook.
When you place your ad here on TUG or even in the bargain bin make sure you list all the various costs and fees. You might consider listing it as best offer over those fees and transfer costs if you list it in the bargain bin. I hope you are able to recover the closing costs and transfer fees but the reality is that unless you have luck selling it elsewhere you may have to pay them to get someone to take it for nothing. If that is the case it might be cheaper to pay the $500 as someone else mentioned to have the resort take the deed back.