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Woodstone and Regal Vista Points resales

Discussion in 'US - Eastern States Timesharing' started by tschwa2, Sep 1, 2019.

  1. tschwa2

    tschwa2 Tug Review Crew: Rookie TUG Member

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    I am at Massanutten now and haven't done a tour in 5 years. I thought I would see what they are offering to convert. They kept insisting that points do not transfer upon resale. That I could not buy points and even if I paid to convert my weeks they would revert back to weeks when sold. I told them that I currently have a week 29 Regal Vistas in points. They insisted that after 2 years of resale ownership it would revert.

    Has anyone resold a points week and was their anything in the estoppel to the new owner indicating that it would revert to a week?

    The final offer which I left before hearing but they called me back with was a $5995 new week worth 44,000 points every other year but I pay $230 per year and they would convert my week 30 Regal Vistas (89,000 for $515 MF), Week 26 Woodstone Deluxe (130,000 for $825 MF) and week 27 Woodstone Luxury (137,000 for $855MF). I am supposed to go back and they are to have the contract ready in the morning. I obviously know how to rescind and while I may not have time to go over with the fine tooth comb before signing (don't want to waste any more time) it will be gone over in the next 3 days.
     
  2. escanoe

    escanoe TUG Member

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    Woodstone (Luxury, RCI Points) at Massanutten Resort
    You have me scared now. I bought a week 29 Woodstone Luxury 4BR w/ 137,000 annual points last November on the resale market. I was under the impression that the points were as close to permanent as things are with timeshares.

    It did concern me when I read the estoppel and there was a standard line related to the RCI points account that is labeled “expiration date” and listed 8/31/22. This estoppel was dated a couple of months before I agreed to purchase. After talking to the closing agent and doing some Internet research, I became convinced that was just the current expiration date for the RCI account of the seller.

    There is nothing in the estoppel or the RCI Points Account transfer agreement I signed that made me think the points ownership would only transfer for two years. I am traveling now, but will look at my deed when I get back home.

    When I log onto my RCI points account, it does list my “membership term expiration date” (not to be confused with “member expiration date”) as 11/30/2021. When I look at the part of the account where I would renew my membership it says “Your subscribing membership is eligible to be renewed, but your membership term must be extended first. Please contact an RCI Vacation Guide at 1.877.968.7476 to extend your membership term.”

    It is going to stink if Massanuuten/Vacation Village will not let me extend my term without some ridiculous fee. I sure hope this is just the case of a sales agent’s lips moving.

    TUG member @Eric B told me in a previous thread he owns the same type Woodstone points contract as I have. Maybe he bought it resale and may be able to shed some light on this.
     
    Last edited: Sep 2, 2019
  3. tschwa2

    tschwa2 Tug Review Crew: Rookie TUG Member

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    I spoke to the closing department today and they were adamant that RCI told them that the points would not transfer upon resale beyond the current points term (generally automatically renewed every 3 years). The person who told me this knew that I would be less likely to pay the $5995 that they were asking to convert (multiple units) if this were the case so I believe that she believes it to be the case. I am still not convinced that it is the case but do not know for sure. I also believe that Massanutten paid RCI a lot to get the points deal (the high number of points per unit especially in the summer) that they received - more than the typical $199 or $299 per deed.
    What I still wonder is if the conversions revert back but not the straight pre converted deeds or if nothing reverts back. There is no indication that my Regal Vistas in points bought about a year ago is in danger of reverting to a deed.
     
    escanoe likes this.
  4. escanoe

    escanoe TUG Member

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    Woodstone (Luxury, RCI Points) at Massanutten Resort
    I paid a premium on the resale market for a Woodstone unit that was enrolled in RCI points (versus one not in RCI points). It is a fairly small resale market for Massanutten units enrolled in RCI points. I would think whatever the policy is on RCI points transferring on resale, it is likely a blanket policy for Vacation Village properties. There is certainly a larger market for Grandview in Vegas. I am going to be working to get to the bottom of this soon for my peace of mind or to likely plot an exit from Massanuten ownership.

    I just looked in my safe at home. There is nothing relevant to this on the deed (didn’t especially think there would be) but a written transfer confirmation from the closing company noted the successful transfer of 137,0000 annual RCI points.
     
    Last edited: Sep 2, 2019
  5. escanoe

    escanoe TUG Member

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    Woodstone (Luxury, RCI Points) at Massanutten Resort
    The three year "term" on my account appears to be uniform transfer procedure for all transferred RCI points accounts .... and nothing Vacation Village has driven.

    Standard RCI Points Transfer Form:
    https://www.rci.com/static/docs/namer/en_US/RCI-Points-Membership-Transfer-Application.pdf

    upload_2019-9-2_22-44-57.png


    I agree with @tschwa2 that the person at Massanutten that told him this "knew that [he] would be less likely to pay the $5995 that they were asking to convert (multiple units) if this were the case so [@tschwa2] believes that she believes it to be the case."

    However, the thing is @tschwa2 is wAAAAAy more educated on this than the average bear they are dealing with. Overall, they are likely to perceive it to be in their best interest to say that they are the only place you can buy a legitimate RCI Points contract for Massanutten. I remain scared, but skeptical of what the sales team says, as I continue to look into my situation.
     
    Last edited: Sep 3, 2019
  6. escanoe

    escanoe TUG Member

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    Woodstone (Luxury, RCI Points) at Massanutten Resort
    I called RCI today in relation to the Woodstone RCI Points Unit that I bought resale last year. I had no problem on the phone extending my RCI Points membership for another year (out to 2022) and at the same time adding three more years (to 2024) to the "membership term expiration date."

    Also, see item 8 below from the universal language Massanutten was using in estoppels last year. It says to contact RCI directly "with any questions/transfer of points ownership." Why would it refer to "transfer of points ownership" if such a thing did not exist ... and if they universally limit point use to two years after transfer, this would be an obvious place to state it.

    Having now contacted RCI and experiencing no problem extending the term expiration doubt out so far, I feel like this is a case of sales agents' lips moving and not something real to worry about.

    Do your new RCI points contracts that they gave you say anything about transfer or points ownership?


    upload_2019-9-3_21-23-5.png
     
  7. escanoe

    escanoe TUG Member

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    Woodstone (Luxury, RCI Points) at Massanutten Resort
    @tschwa2, so did they persuade you to upgrade every thing to points?
     
  8. Grammarhero

    Grammarhero Official TUGBBS Rescission Master TUG Member

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    US: AZ, CA, DC, DE, IL, IN, KY, MD, NC, NJ, NV, NY, OH, OR, PA, SC, TN, TX, VA, WA, WV
    I enjoy Massanutten, but never really loved the place. Maybe I will try to have an open mind. What do you all love about Massanutten?
     
  9. missyrcrews

    missyrcrews TUG Review Crew: Veteran TUG Member

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    My kids LOVED the size of the units. We had a 4BR 4BA in Summit summer 2018. It was one of the largest timeshare units we'd ever stayed in. We enjoyed the water park...great to not have to drive miles and miles. We also enjoyed having lots of Civil War history literally at our doorstep.

    I did not like the fees, and the fact that EVERYTHING costs extra. I also wasn't a fan of the crowds. We tend to be happier in smaller out of the way places.

    It was fine once, but it will be several years before I'll be ready to go back.
     
    Grammarhero likes this.
  10. Grammarhero

    Grammarhero Official TUGBBS Rescission Master TUG Member

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    US: AZ, CA, DC, DE, IL, IN, KY, MD, NC, NJ, NV, NY, OH, OR, PA, SC, TN, TX, VA, WA, WV
    There is Civil War stuff near Massanutten? I should check that out. I usually like checking out Fredericksburg and Manassas, the sites of the major Civil War battles.
     
  11. bluehende

    bluehende TUG Review Crew: Veteran TUG Member

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    The mountain scenery is very pretty. We hike and bike and both are great here. I would rate the mountain biking here as the best in the East(at least as far as I know). After a few hours of exercise the pools feel great. Also we hit the Monday night show. It is always fun. The general area has a lot of historical sites to visit.
     
    escanoe likes this.
  12. escanoe

    escanoe TUG Member

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    Woodstone (Luxury, RCI Points) at Massanutten Resort
    1) I don’t disagree with your assessment.

    2) I enjoy getting 137,000 RCI points for my my $855 maintenance fee

    3) I live in the DC area. It is a close place that one can get into for most three day weekend with minimal planning, effort, and relatively small expenditure of points or dollars. Hiking is great around there and free. Skiing and water park can be fun, but at far from bargain prices.
     

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