Newbie in need of some help

Can someone clear up the resale vs developer purchase issue. I received the following note from an HGVC agent and i'm not sure if it is accurate. Thanks in advance for your help.

Hilton has the first right of refusal. The listings that you are viewing, once they have an interested buyer, deposit and the contracts are under way, they must contact Hilton. It is at that time we exercise that right. If Hilton buys the property, you could loose your deposit.

Reasons you need to be aware of buying from a third party; 1) Back Maint. fees & taxes ( you will be responsible) 2) Divorce situation (tie up for months) 3) Should have an Attorney to make sure title free & clear 4) Not eligible for the Elite program 5) Can't upgrade with 100% equity 6) Not eligible for ongoing promotions 7) Not a member of club or RCI (must join each at an additional cost)

8)We are a point base program (do you know if points are available at point of purchase) I as your sales person will always be looking out for your best interest in any new offers and keep you informed on them as well. You need to do what is right for you. With the purchase through me at the developer's office, I will always be here for you. And, you will always have piece of mind that you will not have any surprises.

mikeg271 wrote:

Can someone clear up the resale vs developer purchase issue. I received the following note from an HGVC agent and i'm not sure if it is accurate. Thanks in advance for your help.

Hilton has the first right of refusal. The listings that you are viewing, once they have an interested buyer, deposit and the contracts are under way, they must contact Hilton. It is at that time we exercise that right. If Hilton buys the property, you could loose your deposit.

Reasons you need to be aware of buying from a third party; 1) Back Maint. fees & taxes ( you will be responsible) 2) Divorce situation (tie up for months) 3) Should have an Attorney to make sure title free & clear 4) Not eligible for the Elite program 5) Can't upgrade with 100% equity 6) Not eligible for ongoing promotions 7) Not a member of club or RCI (must join each at an additional cost)

8)We are a point base program (do you know if points are available at point of purchase) I as your sales person will always be looking out for your best interest in any new offers and keep you informed on them as well. You need to do what is right for you. With the purchase through me at the developer's office, I will always be here for you. And, you will always have piece of mind that you will not have any surprises.

Everything is basically true, but if a resale closing is handled properly any unpaid fees, loans, etc should be accounted for. Buying from a developer might yield some perks, but they are usually NOT worth the extra cost. As for no surprises...you will find out the surprises the first time you say, "Mr Smith told me (insert any unwritten statement here)".

Did you talk to a salesperson at a resort? There is a redweek member who handles HGVC resales. Here name is Judi Kozlowski (google to get her contact info). She'll be upfront in answering your questions

mike1536 astutely states in part: >> Buying from a developer might yield some perks, but they are usually NOT worth the extra cost.<< =========================================

EXACTLY. Developer sales personnel often employ scare tactics and assorted, unfounded exaggerations to a buyer astute enough to be aware of the existence of the resale market. They won't actually even mention or acknowledge the resale market at all unless it's dropped right into their lap by a wise and informed timeshare consumer. Moreover, these developer sales reps even sometimes invent non-existent "difficulties and problems" which allegedly pertain to resale purchases. Don't get suckered into any of these fairy tales. A competent closing company, at a cost of around $300 or so, will discover any and all such issues as unpaid back fees, will acquire all required owner signatures on a new notarized deed, etc. Attorney involvement is rarely necessary.

I respect the fact that everyone has to make a LIVING. However, I do NOT respect the fact that developer sales reps seek to make a KILLING --- on each sale. As fas as the "I'll be here for you" claim, I won't even flatter that particular bit of nonsense with a reply.

ken1193 wrote:

mike1536 astutely states in part: >> Buying from a developer might yield some perks, but they are usually NOT worth the extra cost.<< =========================================

EXACTLY. Developer sales personnel often employ scare tactics and assorted, unfounded exaggerations to a buyer astute enough to be aware of the existence of the resale market. They won't actually even mention or acknowledge the resale market at all unless it's dropped right into their lap by a wise and informed timeshare consumer. Moreover, these developer sales reps even sometimes invent non-existent "difficulties and problems" which allegedly pertain to resale purchases. Don't get suckered into any of these fairy tales. A competent closing company, at a cost of around $300 or so, will discover any and all such issues as unpaid back fees, will acquire all required owner signatures on a new notarized deed, etc. Attorney involvement is rarely necessary.

I respect the fact that everyone has to make a LIVING. However, I do NOT respect the fact that developer sales reps seek to make a KILLING --- on each sale. As fas as the "I'll be here for you" claim, I won't even flatter that particular bit of nonsense with a reply.

Thanks for the replies.

WOW!! I never realized that there is a $20k difference between resale and a developer.

mikeg271 observes: >> WOW!! I never realized that there is a $20k difference between resale and a developer.<< =========================================

For obvious numerical reasons, developers don't even want you to know that a resale market even EXISTS. An informed timeshare consumer is NOT their preferred target...