Considering purchasing HICV resale, particularly Orange Lake...

[Deborah A Williams]

We recently stayed in a studio in the West Villages and were very impressed. Also some extended family owns there and they love it.

Obviously there are some very cheap resales out there (ie. free or nearly) and we're strongly considering one. However, since the resales don't go on the point system, we're wondering if it would make more sense to buy one of the resorts that has dedicated points (probably Myrtle Beach), although they don't seem to be quite as cheap.

Also are we likely to run into ROFR on one of these deals, and if so, is there timing/strategy that helps to lessen the likelihood of that happening?

Thanks!

 

[Bmatrose]

It depends on how you want to vacation. If you like the same resort, same size room, every year buying that specific week is the way to go. If you want to experience the other resorts within HICV then the point resorts are the way to go. I know people say you can use RCI to trade into the other resorts but its much more difficult to do then it is being a HICV points owner.

 

[simpsontruckdriver]

Yes, HICV Orange Lake exercises ROFR. They like free profit, buy for nothing and sell for thousands. But, don’t let that discourage you! Go to a reseller like Http://www.sumdayvacations.com and find a week/size/Village you want. Some will PAY YOU $250 at closing.

 

[TUGBrian]

sumday (nor anyone else) is not immune to resorts exercising ROFR....

browse all valid resale sites until you find the package that is right for you and work with the owner on obtaining it.

 

[Deborah A Williams]

Right now we're actually leaning towards South Beach (Myrtle Beach) due to the point system, it's being a closer drive (Eastern Pennsylvania), and the maintenance fees being somewhat lower. We're definitely not purchasing until after the New Year, but we are starting to think it might be right for us at this point. We don't have a lot of either, but we have a little more money and time than we did a few years ago, we like to vacation, and we've got a mildly disabled young adult son who doesn't mind traveling with us (and would be able to by himself or with a friend).

 

[skotrla]

Right now we're actually leaning towards South Beach (Myrtle Beach) due to the point system, it's being a closer drive (Eastern Pennsylvania), and the maintenance fees being somewhat lower. We're definitely not purchasing until after the New Year, but we are starting to think it might be right for us at this point. We don't have a lot of either, but we have a little more money and time than we did a few years ago, we like to vacation, and we've got a mildly disabled young adult son who doesn't mind traveling with us (and would be able to by himself or with a friend).

Agree with the other things said and the direction you are leaning - South Beach, Smoky Mountain, and Lake Geneva are your best bets with the flexibility of points via low cost resale (any week, any size, any resort, any stay length). Even if you want the same resort and week each year - what if you want a smaller or larger unit one year vs. the next? What if you want to do 5 days or 10 days instead of 7? I am a big believer in resale points for the extreme flexibility.

HICV does exercise really cheap units sometimes, but most sellers that do any volume price high enough that ROFR is not being regularly exercised - any time ROFR is exercised, a seller is leaving money on the table.

I maintain a list of owners with points units for sale - message me if you are interested.

-Scott
Owner, HICV Google+ Group

 

[Mlaw2015]

My husband and I are looking at selling our south beach hicv due to medical bills from a recent cancer diagnosis. We do not want to make profit from it just to get it switched over into someone else's hands who can enjoy the benefits from it. We got a military discount on the point sale as well. If you are still interested my email is Mpoland92@gmail.com

 

[skotrla]

My husband and I are looking at selling our south beach hicv due to medical bills from a recent cancer diagnosis. We do not want to make profit from it just to get it switched over into someone else's hands who can enjoy the benefits from it. We got a military discount on the point sale as well. If you are still interested my email is Mpoland92@gmail.com

Moriah and I have been chatting via email and I wanted to put my advice out there to see if others in the community agree or have different opinions:

I personally would tell Orange Lake that you are going to stop paying on it and let them foreclose on it unless they make you a reasonable offer to get you out of it. It's sort of a game of chicken now - they will threaten to ruin your credit if you quit paying and you have to convince them that you don't care (even though you really do).

This advice applies if you owe thousands of dollars on a mortgage - if we are just talking maintenance fees, then I'm all for paying someone to take it off of your hands to save your credit. I think it comes down to what the value of good credit is to you. Your good credit is worth a price - it might be $1K or $1M, but at some point, throwing away money to save your credit may be the wrong financial decision.

-Scott
Owner, HICV Google+ Group

 

[alexanderwang]

If you purchase resale, you have to make a qualifying purchase from HICV directly to turn your fixed week into points.

 

[440Roadrunner]

Im a newbie here and am wondering how to contact. We are considering adding points but dobt really want tO pay what HICV is trying to get us to buy into..... QUOTE="skotrla, post: 2082479, member: 45066"]Agree with the other things said and the direction you are leaning - South Beach, Smoky Mountain, and Lake Geneva are your best bets with the flexibility of points via low cost resale (any week, any size, any resort, any stay length). Even if you want the same resort and week each year - what if you want a smaller or larger unit one year vs. the next? What if you want to do 5 days or 10 days instead of 7? I am a big believer in resale points for the extreme flexibility.

HICV does exercise really cheap units sometimes, but most sellers that do any volume price high enough that ROFR is not being regularly exercised - any time ROFR is exercised, a seller is leaving money on the table.

I maintain a list of owners with points units for sale - message me if you are interested.

-Scott
Owner, HICV Google+ Group[/QUOTE]