Need some info on RCI & DVC! Please HELP!!

[wlwilliams9]

Hello! My grandmother passed away in December and she owned a Wyndham Vacation Resort (timeshare) managed by RCI. My uncles don't want the timeshare and are having a difficult time selling it right now so they asked DH and I if we would like to purchase it. We know that we would be getting a great deal because my DGM purchased the timeshare in 1983 for $9000+ and we could buy it for $3500 or less depending on how low my uncles are willing to let it go for. Plus, we would get some of that $$ back after the sale from her inheritance. However, DH & I know NOTHING about timeshares. We love Disney and go every year. If we purchase the timeshare, can we trade our week for DVC? I know that Bonnet Creek is a Wyndham Vacation Resort, but we would prefer to be onsite and take advantage of DDP, DME, EMH, etc. What are some questions I need to ask before we decide to make this purchase? Any advice from you seasoned timeshare owners?

TIA
Wendy

 

[spiceycat]

if she brought in Orlando - then you can't exchange into DVC.

which Wyndham is it?

 

[wlwilliams9]

She bought Wyndham Resort at Fairfield Bay in Arkansas She owns a 2br for a premium week.

 

[bwvBound]

Here are a few links to eBay auctions to watch ... most are Wyndham Fairfield Bay and one is a different 2BR Arkansas timeshare, week 27 (often July 4th week). The goal is simply to help you gain a glimpse at resale value (won't help you determine if your DGM's timeshare will trade for DVC).

• http://cgi.ebay.com/Wyndham-Fairfie...Timeshares&hash=item335dbcce3e#ht_4478wt_1040
• http://cgi.ebay.com/Wyndham-126K-PO...Timeshares&hash=item3caddd6dad#ht_3694wt_1005
• http://cgi.ebay.com/Wyndham-Fairfie...Timeshares&hash=item4aa1d57b7a#ht_4815wt_1040
• http://cgi.ebay.com/Resort-Fairfiel...Timeshares&hash=item20b14f6f33#ht_4763wt_1040
• http://cgi.ebay.com/2BR-LOCKOFF-Gol...=Timeshares&hash=item3f006cbbee#ht_6020wt_814

 

[Chuck S]

It really depends upon several factors, like your desired DVC travel dates, whether your RCI property has a good trade power, etc. I would not bet on getting DVC consistently, year after year, but occasionally, yes. For the years you can't draw DVC, Bonnet Creek is a lovely resort, even though there are no Disney "onsite perks."

I would research what resales at the Arkansas are selling for on the market, and make you uncles a fair offer. The resort may normally sell resale for much less than the $3500 or so they may be asking.

 

[Chuck S]

It really depends upon several factors, like your desired DVC travel dates, whether your RCI property has a good trade power, etc. I would not bet on getting DVC consistently, year after year, but occasionally, yes. For the years you can't draw DVC, Bonnet Creek is a lovely resort, even though there are no Disney "onsite perks."

I would research what resales at the Arkansas are selling for on the market, and make your uncles a fair offer based upon current resale prices. The resort may normally sell resale for much less than the $3500 or so they may be asking.

 

[wlwilliams9]

Thanks everyone for your quick replies! After doing a little research, I see the $3500 price is a little high! My uncles were trying to get me to buy it for $6000!! They must think I was born yesterday!! I think I'll offer them $1000 and see what they say!! If not, it'll just sit in my DGM estate until we they can sell it at which point I'll get 1/6th of the money!

 

[spiceycat]

! My uncles were trying to get me to buy it for $6000!! They must think I was born yesterday!! I think I'll offer them $1000 and see what they say!! If not, it'll just sit in my DGM estate until we they can sell it at which point I'll get 1/6th of the money!

it might be the sales person who he had trying to sell it for him. they aren't know to tell the truth. He probably told him it was worth at least $6,000.

just show him what you found on the internet and see if he is not more reasonable. make sure first that all the maintence fees have been pay and are up to date.

 

[Dean]

Thanks everyone for your quick replies! After doing a little research, I see the $3500 price is a little high! My uncles were trying to get me to buy it for $6000!! They must think I was born yesterday!! I think I'll offer them $1000 and see what they say!! If not, it'll just sit in my DGM estate until we they can sell it at which point I'll get 1/6th of the money!

Is it in points or just a deeded week? If it's a deeded week, just run away unless you want to go and use that week every year. If it's been converted to points and you just take it over, it's a fair deal at present for BOTH parties. The issue you have is that this is likely not going to end well from a family standpoint because they're going to focus on the price paid and expect it has more value than it does. You might want to direct them to ebay and TUG (Timeshare Users Group) and walk away. IF you want to buy into Wyndham points, you can do so easily and cheaply as the links above tell you.

ETA: I wanted to clarify when I said take it over, I meant for nothing, not for the $3500 or anywhere near that price. The MOST I'd pay if it works out for you otherwise would be the conversion costs. I would not pay any back fees or any up front costs otherwise.

 

[Brian Noble]

I would tell them "thanks but no thanks" and let the estate dispose of it if no one wants it.

As Dean points, out, the family dynamic is going to complicate things. Furthermore, it's generally unwise to buy to trade---you should buy something you want to *use*, and view trading as a nice bonus.

Finally, I don't think summer Arkansas is sufficient to get into DVC, and unless it has been converted *and* your grandmother was the original owner, it won't have access that way either.