NEED OPINION TO ACCEPT OR NOT

[0063f]

Hello all I am definitely a green horn here, first thread ever. I have an opportunity to receive a floating timeshare week with a 2 week option at Vidanta Grand Palace Puerto Vallarta. Unfortunately its through a Will.I would be more interested in trading rather than using so would it be smart to accept this or politely saying no thank you. There is no cost to me acquiring this week. Appreciate all opinions.

 

[vacationhopeful]

You upfront have stated you have NO INTEREST in using this timeshare ... DO NOT ACCEPT!

Trading adds cost and time to FIND a place to stay .. membership fees to join a trading platform, exchange fees PLUS the time to HUNT and FIND a place when and where you want to stay.

I am NOT familiar with Mexican TS .. you REALLY NEED to research these resorts. Most are AI resorts which ADDS considerable cost to use yearly. Plus international travel.

 

[vacationtime1]

+1

If you're not going to use it, why take it (along with its associated long-term liabilities)?

Many timeshares are available for free. If you want one, first research, and then pick one more compatible with your projected use.

 

[0063f]

Thank-you, it sounds like a No. I wasn't sure if having it just to trade would be a good thing or not. Free doesn't always mean good.Truly appreciate.

 

[DeniseM]

Mexico has tons of timeshares, so there is far more supply than demand, which makes it a weak trader.

 

[0063f]

Mexico has tons of timeshares, so there is far more supply than demand, which makes it a weak trader.

Thanks so much.

 

[T-Dot-Traveller]

[QUOTE="0063f, post: 2092670, member: 101308"} I have an opportunity to receive a floating timeshare week with a 2 week option at Vidanta Grand Palace Puerto Vallarta. Unfortunately its through a Will.I would be more interested in trading rather than using so would it be smart to accept this or politely saying no thank you. There is no cost to me acquiring this week. Appreciate all opinions.[/QUOTE]

*********

Vidanta is RTU ( right to use ) so no deed ( basically a good thing ) and were good for 25 years ( renewable for more / but also your "out" at no cost )
Please look at the contract & post some details of when purchased and MF .
Vidanta is non AI and has really nice resorts -- ( and one of the "best" hard sell TS sales forces )

The contracts can be transferred to immediate family for $0 . I assume you qualify .

I and others in the Mexican forum can answer specific details .

No one here has given you bad advice / but there are nuances that may make it worth keeping ( for a while at least )

ie : from a recent post - parents bought in 1988 and had paid 25 year renewal . MF was $ 475 for a 2 bedroom ( due to contractual % cap on yearly MF increases )
The MF on more recent contracts for the same would be about $ 875 .

Contract since about 2006 often have MF payable on use only ( " no go / no pay " ) a fairly unique feature in the TS universe . This addendum transfers to family BUT NOT
on any resale .

So - if you wish please post some details that are in the original paperwork ( or can be sent to you in a email PDF by Vidanta Member Services )

 

[0063f]

[QUOTE="0063f, post: 2092670, member: 101308"} I have an opportunity to receive a floating timeshare week with a 2 week option at Vidanta Grand Palace Puerto Vallarta. Unfortunately its through a Will.I would be more interested in trading rather than using so would it be smart to accept this or politely saying no thank you. There is no cost to me acquiring this week. Appreciate all opinions.

*********

Vidanta is RTU ( right to use ) so no deed ( basically a good thing ) and were good for 25 years ( renewable for more / but also your "out" at no cost )
Please look at the contract & post some details of when purchased and MF .
Vidanta is non AI and has really nice resorts -- ( and one of the "best" hard sell TS sales forces )

The contracts can be transferred to immediate family for $0 . I assume you qualify .

I and others in the Mexican forum can answer specific details .

No one here has given you bad advice / but there are nuances that may make it worth keeping ( for a while at least )

ie : from a recent post - parents bought in 1988 and had paid 25 year renewal . MF was $ 475 for a 2 bedroom ( due to contractual % cap on yearly MF increases )
The MF on more recent contracts for the same would be about $ 875 .

Contract since about 2006 often have MF payable on use only ( " no go / no pay " ) a fairly unique feature in the TS universe . This addendum transfers to family BUT NOT
on any resale .

So - if you wish please post some details that are in the original paperwork ( or can be sent to you in a email PDF by Vidanta Member Services )

 

[0063f]

Family member is going to email me the contract. (32 pages) I will review this and post some info from it soon. Thanks so much for your insight.

 

[WinniWoman]

I say stay away from it.

 

[Panina]

If you are not going to go there I would not take it.

 

[vacationhopeful]

Contract or not ... YOU stated you would NOT be using this, but trading. Listen to ALL the prior posters ... IF YOU are NOT going to use it and stay there almost ALL YEARS, do not accept take this. This FREE has a heavy price to use ... MFs, travel costs, expenses to trade, time to trade, etc.

TELL straight up and make absolutely certain, YOUR FAMILY member understands 20 times over, THIS IS NOT SOMETHING YOU WANT! Send the contract back un-opened ... refused. Stop being so polite .... you will end up with this in YOUR NAME and be in the same boat as your relatives are now. Trying to DUMP this unwanted timeshare ownership onto someone else.

The relatives are desperate to DUMP this ... you have NO REASON to accept this nor are they being NICE. Your "NO" should be respected BUT the relatives are not feeling it. Once it gets deeded into YOUR NAME, you could spend $1000s of dollars to dump it or get it out of your name. And you will NEVER talk to these people again ... so let them be UNHAPPY at you ... or you will be RAVING MAD at them forever!

 

[1st Class]

Spend some time reading here on TUG and you will know whether this will work for you or not. Politely decline until you are better informed. FWIW, there are much better choices to use as a trader.

 

[0063f]

Thank you all for the help your giving. I'm definitely leaning towards the No side but now know what to look for to figure out my costs and commitment. Told family member to give me time and not to be surprised if I decline.

 

[0063f]

Hello All, so this is what I learned. Studio room sleeps 4 in the RED booking cat. $557 US MF. Can carry over one year to the next. As far as I can tell contract expires March 2020 (3 years) if I have to pay for 2020. Owner was a member of Holiday System International which doesn't look very impressive to me. If only 2 years left I might have taken it and used it once with the carry over, but I'm going to decline the offer. Once again I truly appreciate all the help and insight. I know that I would now Own if not for the TUG family.

 

[Passepartout]

Cool! If we can be of service for ongoing great vacations, c'mon back. There are great rentals here with no strings.

 

[Cynic]

For a weeks trader, FIXED (continental) US coastal space during the summer is virtually always going to be the king of kings as far as both ease of use, potential to rent and at least get your MF covered if you can't use, and that all-important trading power.

Look around the aftermarket for a while, carefully, after doing your research. If you look at my other posts, you can see I recommended an example of a real auction I would personally purchase if in the market to another newbie.

 

[0063f]

For a weeks trader, FIXED (continental) US coastal space during the summer is virtually always going to be the king of kings as far as both ease of use, potential to rent and at least get your MF covered if you can't use, and that all-important trading power.

Look around the aftermarket for a while, carefully, after doing your research. If you look at my other posts, you can see I recommended an example of a real auction I would personally purchase if in the market to another newbie.

Ok will do. Thanks

 

[T-Dot-Traveller]

Hello All, so this is what I learned. Studio room sleeps 4 in the RED booking cat. $557 US MF. Can carry over one year to the next. As far as I can tell contract expires March 2020 (3 years) if I have to pay for 2020. Owner was a member of Holiday System International which doesn't look very impressive to me. If only 2 years left I might have taken it and used it once with the carry over, but I'm going to decline the offer. Once again I truly appreciate all the help and insight. I know that I would now Own if not for the TUG family.

Your details match what Vidanta was selling 7-8 years ago for the Mayan Palace brand -ie the tie in to HSI . Your opinion of HSI from reading ; mirrors that of TUG members who had HSI & dropped them .( as a way to exchange ) .

2 or 3 year’s until renewal sound correct .

Mayan Palace studios have no kitchen amenities ( not even a coffee maker / ie . basically a hotel room ) A one bedroom suite would have a MF of about $750 for this era contract BUT would have a kitchenette and 300 + more square feet ; which greatly adds to usability .

I would think the person who bought this a paid $ 10 K / range .

< PS : In my post above I listed 25 years until renewal ( at 5 x MF / which is in my 2006 contract ) Contracts from 2010 /11 ( or so ) forward are 10 year renewals - but at a lower $ cost . If a buyer / owner stays with Vidanta for 30 years or so - IMO it is likely a wash . >

 

[pedro47]

No! No! No! I would not accept this offer. Suggestions and the very sound advice from the above posts should guide your final decision.

 

[0063f]

T-Dot-Traveller has it absolutely correct. I have declined the offer, and have taken the advice to just use the rental portion of TUG if I choose to use a timeshare resort. Thanks again to everyone's opinions.