Equity Value Agreement (Vidanta)

[hurnik]

I spoke to one of them, and he said the resale value of my points is about $500.00. :-(
I am trying to spend more time on holiday, so having the 2 timeshares is ok, I just wasnt sure if his term of "retain the rights" meant something different.
I am just trying to make best of a potentially negative situation I have put myself into.
If Vidanta will let me keep what I have and not charge me anything for that, then I think that is the option I will go with, I just am afraid they will want to use some terminology that is to their advantage.

If you post your info on the HGVC forum, we can probably give a good idea/ballpark of what your HGVC unit may be worth on the resale market.

We'll need to know the location, points, unit size and season (if possible, it should be noted on the paperwork or the HGVC website), and the interval (yearly use, Every Other Year, etc.)

ie:
Las Vegas Blvd, 1 BR, 5000 points, Gold, Annual use

 

[Alvin Olson]

OK, here is their Return of Purchase waiver.
Does this look ok to you guys?
Sorry, to be such a noob, but I appreciate everyone helps.

I (WE), THE UNDERSIGNED, UNDERSTAND AND AGREE TO THE FOLLOWING CONDITIONS
CONCERNING THE RETURN OF THE ABOVE NOTED EQUITY PROPERTY FROM VIDA VACATION.

A) I(WE) HAVE RECEIVED FULL EQUITY CREDIT TOWARDS THE PURCHASE TODAY.
B) THE RETURN OF MY PROPERTY IS BY MUTUAL AGREEMENT.
C) I(WE) WILL MAINTAIN FULL FINANCIAL RESPONSABILITY FOR THE ABOVE NOTED PROPERTY.
D) I(WE) UNDERSTAND THAT THIS PROPERTY REMAINS MINE (OURS) TO USE AS I (WE) SEE FIT,
WITH NO FUTURE CLAIMS BEING HELD AGAINST VIDAVACATION, MAYAN RESORTS,
GRUPO VIDANTA, IT´S SUBSIDIARIES AND/OR AFFILIATED COMPANIES, IT´S OFFICERS, DIRECTORS,
EMPLOYEES AND THIRD PARTIES.
E) I(WE) AM /ARE NOT DEPENDING ON THE RESALE OF THE ABOVE MENTIONED PROPERTY TO PAY
FOR MY CELEBRATE PARK CONTRACT. IF I(WE) CHOOSE TO RESALE MY (OUR) PROPERTY,
I (WE) UNDERSTAND THAT IS NOT HANDLED BY VIDA VACATION AND VIDA VACATION DOES NOT
GUARANTEE THE RESALE VALUE OF THE PROPERTY OR THAT THE PROPERTY WILL RESELL​

Thanks in Advance,

Alvin

 

[Eric B]

Looks reasonable to me. They just don’t want to be on the hook for your having the TS still.

 

[Alvin Olson]

Looks reasonable to me. They just don’t want to be on the hook for your having the TS still.

Thanks.. I will move forward

 

[Alvin Olson]

We signed the waiver and now own 2 Timeshares/Points yeah me!
Thank you everyone that helped me navigate these murky waters that I sailed myself into.
Lesson Learned, education is cheaper than pitfalls.

Here are some of the email responses that I had to Vidanta.



Thank you for all of your help here.
Is there anything else we need to do?

Hi Alvin,
With this you are good. I will forward it to the same guy that I was speaking to at TRM and have them cancel the EVA so no one will be calling you in the future regarding the HGVC.​

Sorry you had to get involved, but i appreciate your help.
Will this document suffice as proof just In case something comes up in the future ?

Hi Alvin,
That is the point of the document since we are changing the terms of the contract. It is for mutual protection as to our agreement. Remember as I told you there is a 150 days rule from when you send the documents to TRM that you would be still responsible for any fees at that property. If we fast forward to next year without this document you might forget and be upset that the property has not been transferred and you are still receiving bills from them. So this clearly stipulates that we came to the agreement to avoid further confusion. For you the protection is no one can come in the future and pull out that old EVA sheet and go after you because you have not signed over the property.

I hope that this information is of assistance to you.​

 

[gtbguy]

TimeshareResalMarket wants me to choose an option on selling my points from Hilton.

Option 1: $ 1879.00 and were done.

Option 2: $ 8999.00 and they sell and give me all profits.

This is on a trade Equity Value Agreement from Vidanta.

Vidanta lowered the price of their package by $ 1879.00 to compensate for this fee.

According to TRM, they want me to give them 9K and then I will keep any profit they make, sounds like a scam to me.

 

[gtbguy]

I am an experienced Vidanta owner. You have 7 days to rescind your offer or renegotiate. If you want to keep the Grand Luxxe, tell them that you will do so but take your trade in off the table entirely and close the deal at the same price without the trade in. Be firm in your resolve!

Nothing ventured, nothing gained. I hope your contract has a clause that says if you do not use the GL, no maintenance fee, and All weeks should have a 1 year booking window. You can also negotiate maintenance fees! Everything is negotiable!

 

[skimeup]

There are several respectable timeshare resale companies that you can list with. (I am aware of http://www.triwest-timeshare.com/resort/sale/94102IN - I have friends that have bought from them. ) However, your best bet if you want want to get rid of it and are already willing to pay money to do it, is to list it on ebay. You'll see listings there for HGVC points for $1 and sadly, those will likely sell for that much. I have bought and sold several timeshares there and have done it just fine. Bottom line, if you don't want to do it yourself, which is easy, then list it with a US based established timeshare sales company. Be willing to take bottom dollar for the sale - or it will stick around a long time and you'll be paying mf's for those points for a long time.

 

[henry118]

Honestly, when they offered me 50K for my 20K investment, I was hooked.. sucks to be so gullible. These guys know what they are doing. Hindsight is 20/20 for sure.
We bought minimal points and the resorts that we want to go with all seem to take more points that we purchased. We had to move points around and borrow just to go to the locations we wanted. I agree we should not have done what we did, but my time machine is out of order so I am trying to make best of the current situation.
I sincerely appreciate this good advice.

Interesting, I just canceled my Vindanta contract within the ricision time, these guys are very good sales folks, unfortunately for you, them accepting your unit as trade and having the 3rd party transfer owner ship to a VIndanta holding company is interesting. I decided to not move forward primarily due to that reason. the $18xx for TRM then you are still responsible for the closing cost transfer fees etc. Selling it outright is probably the best option. Usually the buyer will pay closing or split the cost. I liked many of the things Vindanata told me but Leary about the long term. No annual maintenance fees is excellent. The only time you pay a maint. Fee is is you use the property or trade it on RCI, SFX or II

 

[Alvin Olson]

I think all of this has to come to a conclusion.
I now own 2 Timeshare/Vacation Clubs/Points or whatever they are called today.
Vidanta agreed to honor all of the pricing they gave me, and I am able to keep my current HGVC Points to use as I want until I decide to sell at some point.
I have not idea if I got a decent deal with Vidanta, and even if I overpaid, which I likely did, it has been nearly a month now and not much I can do about that other than know better in the future.
The unit we purchased is a 2 Bedroom Deluxe at Celebrate Park in Nuevo Vallarta.
We have 2 Weeks for 100 years. 1 Week for 10 years.
There is a list of other perks and promotions that I dont quite have a grasp on yet.
I am reluctant to post what we paid in the end as to not embarrass myself

Maybe one of the Vidanta Experts here can help me understand all that I have.

 

[dioxide45]

The equity trade in is really just a ploy, they probably would have offered you the same deal/price had you not had that week to trade in. It is just a way to get around the "I don't want to pay MF on two weeks if I buy a new one from you" excuse to get out of buying from Vidanta. Their answer to that excuse is to offer for you to trade in your week for a big equity amount. In the end, if you didn't have another week, you probably could have got the same contract from Vidanta for the same price.

 

[Eric B]

The equity trade in is really just a ploy, they probably would have offered you the same deal/price had you not had that week to trade in. It is just a way to get around the "I don't want to pay MF on two weeks if I buy a new one from you" excuse to get out of buying from Vidanta. Their answer to that excuse is to offer for you to trade in your week for a big equity amount. In the end, if you didn't have another week, you probably could have got the same contract from Vidanta for the same price.

That’s been my take on the situation for a while. It’s amusing how the third party “brokers” immediately offer to sell back to you the TS you already own.

 

[Alvin Olson]

Yup.. too bad there is no honestly in this market.. maybe it is better than it used to be, but man, is it still lacking. At least with my personal experience.

 

[mikenk]

Alvin,
Years ago while I was at a swim up bar at happy hour and talking with a number of owners. To a person, they knew they had paid too much - not willingly of course but over time realized it. They were all laughing about it and didn't regret it at all as they continually had great vacations. Over the years, you will forget what you paid as long as the value of what you have you truly enjoy.

While I did buy resale and did my upgrades pre-construction, I still overpaid and know I could really have done better. But in spite of my issues and I have had a bunch, it is the goto vacation spot for our family; one son even got married there. It never grows old for us.

My advice - forget what you paid, read the contract very carefully to understand what you have, then read it again. Then optimize for your family and enjoy it.

Mike

 

[mike53]

Hi Alvin
We too are new owners. I think we purchased just a couple weeks before you did and at least for now we have no regrets.

We own several timeshares and this is the first we’ve purchased at full price but we knew what we were getting ourselves into and have not yet been disappointed or surprised.

We initially signed up for the Deluxxe 2 br as well. I assumed that the around 40k was as about as good as we could get for the 10 years and the 2 weeks for 100 years. With the extra vida and preferred weeks it sounded ok to us.

However we weren’t sure we were getting what we really wanted. After reading the fine print that said we had only one registered week use in the first 10 years I was concerned. I thought we could only have use for one week. At that time I had no real idea their terminology.

After a while we figured out that we still had the two weeks from the 100 year contract available for use starting day one and we felt better.

We still thought we were not purchasing exactly what we wanted and went back the next day and changed to the GL deluxxe 2br. Of course at a higher price but a few more perks too.

We are so far comfortable with what we bought and are looking forward to our next vacations.

As you know and others who comment on tug, the sales techniques/pressure are very unpleasant to say the least. But, we own six other timeshares. Ebay priced timeshares. With the exception of one resort, the “owner updates”, sales presentations or whatever they might call them are no less aggressive than Vidanta. To them NO doesn’t mean NO and it is very understandable how people get conned into something they don’t want. It is so confusing and generally not what one is led to believe.

In our case,and I hope in yours, we look forward to enjoying what we bought and some great vacations. Not necessarily the next owners update though

 

[Eric B]

....

The unit we purchased is a 2 Bedroom Deluxe at Celebrate Park in Nuevo Vallarta.

....

Maybe one of the Vidanta Experts here can help me understand all that I have.

Alvin,

I wouldn’t worry about the price you paid. As the others have mentioned, it’s water under the bridge now. I’m not sure how much real bargaining Vidanta does anyway; they’ve got set price goals for units as they progress from the concept phase through the construction phase and into existing unit sales.

My understanding of the 2 BR Celebrate Park Deluxxe is that it trades to the 2 BR Grand Bliss unless it’s the club level ones, which trade to the GL studio loft, I believe. The Grand Bliss is affiliated with the Registry Collection and II as well as RCI, and all the Vidanta resorts come with an SFX Diamond level membership. Happy to give you pointers on how to use those if you want; I try to keep up-to-date on some of the aspects sales either can’t or won’t tell you.

 

[bogey21]

We have 2 Weeks for 100 years. 1 Week for 10 years.

Out of curiosity what does the above mean?

George

 

[Eric B]

Out of curiosity what does the above mean?

George

A typical Vidanta contract, as they write them now, includes 1 registered week that lasts for 10 years, plus two additional weeks that last for 10 years, but are renewable 9 times for an additional 10 years, making 100. There's a few for renewal and the two types of weeks have different privileges with regard to how far in advance they can be reserved. There may be additional weeks included with a contract as two different forms of bonus weeks with SFX, privilege weeks that allow use back at Vidanta resorts including during holiday weeks and Vida weeks that can only be used at other resorts as available through SFX. There are variations on this, but that's the general scheme.

I believe the significance of registered weeks is that they limit how many contracts can be sold for a specific resort. I don't have any evidence that this is the case, but it strikes me as the only reason for the differences.

 

[Alvin Olson]

That is a great explanation, and exactly right. I need to put together a flowchart, database and a spreadsheet to keep up with what all was included and how it works

 

[Alvin Olson]

Alvin,

I wouldn’t worry about the price you paid. As the others have mentioned, it’s water under the bridge now. I’m not sure how much real bargaining Vidanta does anyway; they’ve got set price goals for units as they progress from the concept phase through the construction phase and into existing unit sales.

My understanding of the 2 BR Celebrate Park Deluxxe is that it trades to the 2 BR Grand Bliss unless it’s the club level ones, which trade to the GL studio loft, I believe. The Grand Bliss is affiliated with the Registry Collection and II as well as RCI, and all the Vidanta resorts come with an SFX Diamond level membership. Happy to give you pointers on how to use those if you want; I try to keep up-to-date on some of the aspects sales either can’t or won’t tell you.

Thank you Eric, I would love some guidance for sure. I think once I get my brain around it, it will be much easier to start using these weeks.
I appreciate your kind words.

 

[Alvin Olson]

Hi Alvin
We too are new owners. I think we purchased just a couple weeks before you did and at least for now we have no regrets.

We own several timeshares and this is the first we’ve purchased at full price but we knew what we were getting ourselves into and have not yet been disappointed or surprised.

We initially signed up for the Deluxxe 2 br as well. I assumed that the around 40k was as about as good as we could get for the 10 years and the 2 weeks for 100 years. With the extra vida and preferred weeks it sounded ok to us.

However we weren’t sure we were getting what we really wanted. After reading the fine print that said we had only one registered week use in the first 10 years I was concerned. I thought we could only have use for one week. At that time I had no real idea their terminology.

After a while we figured out that we still had the two weeks from the 100 year contract available for use starting day one and we felt better.

We still thought we were not purchasing exactly what we wanted and went back the next day and changed to the GL deluxxe 2br. Of course at a higher price but a few more perks too.

We are so far comfortable with what we bought and are looking forward to our next vacations.

As you know and others who comment on tug, the sales techniques/pressure are very unpleasant to say the least. But, we own six other timeshares. Ebay priced timeshares. With the exception of one resort, the “owner updates”, sales presentations or whatever they might call them are no less aggressive than Vidanta. To them NO doesn’t mean NO and it is very understandable how people get conned into something they don’t want. It is so confusing and generally not what one is led to believe.

In our case,and I hope in yours, we look forward to enjoying what we bought and some great vacations. Not necessarily the next owners update though

Mike, thank you for your post. I am looking forward to years of vacation fun. We absolutely enjoyed our stay there, but that was in a Grand Luxxe Residence 1 bedroom plus. We do have an option to upgrade to the GL unit , but we want to get this package repaid back into savings before we spend more
I am happy I found TUG and the awesome people here.

Alvin

 

[MN2Travel]

TimeshareResalMarket wants me to choose an option on selling my points from Hilton.

Option 1: $ 1879.00 and were done.

Option 2: $ 8999.00 and they sell and give me all profits.

This is on a trade Equity Value Agreement from Vidanta.

Vidanta lowered the price of their package by $ 1879.00 to compensate for this fee.

According to TRM, they want me to give them 9K and then I will keep any profit they make, sounds like a scam to me.

 

[MN2Travel]

Thank you Eric, I would love some guidance for sure. I think once I get my brain around it, it will be much easier to start using these weeks.
I appreciate your kind words.

As an owner at Vidanta, we let our ti

TimeshareResalMarket wants me to choose an option on selling my points from Hilton.
We are owners at Vidanta. When we bought, they took our timeshares in as trade-in value. We had tried to sell them previously ourselves, but had no luck. They were not popular destinations. Don't ever pay a different company to sell them. Once you give them the money, you will never hear from them again. You will never get what you paid out of it. They will never sell for enough to give you a profit out of the deal. I am not sure which level you bought. We are at Grand Mayan. We used to like to go to Nuevo Vallarta, but since they fenced in everything so you cannot easily walk off the property, we have no desire to go there anymore. The only other one that we have been to is in Riviera Maya. I didn't like that one at all. It is bad when a resort has to fence in their property so guests can't walk a few blocks for other dining possibilities and less expensive cab rides. Who wants to be a prisoner at a resort? But now that you have purchased there, they do a good job. Just expect them to keep trying to sell you more.

Option 1: $ 1879.00 and were done.

Option 2: $ 8999.00 and they sell and give me all profits.

This is on a trade Equity Value Agreement from Vidanta.

Vidanta lowered the price of their package by $ 1879.00 to compensate for this fee.

According to TRM, they want me to give them 9K and then I will keep any profit they make, sounds like a scam to me.

 

[MN2Travel]

VIdanta has great properties . THe " hotel" side of their business is the real thing .
They do a good job. I would recommend if you don't want to buy, you can always rent one from TUG owners. It is usually about the price of the maintenance fee. They are very high pressure, but we have managed to say no for the last 4 or 5 times. They don't give us the better rooms anymore. We will not exercise our right to renew when it comes time.

" Hotel Side " has a separate management ( up till about when you get to the family management )
Vidanta is not a publicly traded company .

Vidanta sales ( Vida ) is a HIGH PRESSURE TS sales operation . They are very successful in convincing
people to buy their product .

Use the resorts , read the contract re booking windows etc , & and when the nice person at check in , try's to sign you up for a " members update " - tell them politely - NO THANK YOU .
Vidanta always has an " upgrade " to sell you .

FYI - they use the revenue from sales to build / which is part of why they have great properties to visit .

PS : The buy is a done deal . FIgure out how to best use Vidanta for future vacations .
The TUG Mexican forum has lots of good information

 

[KRS1traveler]

As an owner at Vidanta, we let our ti

Did trm ever sell your trade in?