Grandview Las Vegas Misrepresentation?

[WopOnTour]

Just curious...
Exactly what part of the process did you feel was misrepresented?
The reason I ask is I just purchased at the Grandview in Vegas a few days ago and felt they were very forthright with the information provided, given the time constraints of an afternoon presentation.

We've sat in a numerous timeshare presentatons through the years (and up until now never pulling the trigger) and were quite impressed with how the Grandview was represented actually... so I'm now wondering if we've missed something?


What we ended up purchasing was a fully deeded annual week 08, (Feb 22-Mar 1 which is great for us as we're Canadian) 2-bedroom at the Grandview which is currently RCI rated as gold crown, red period, and included were 4 additional "like kind & quality" RCI weeks annually.

What we just couldnt know at the time was whether the $19K we paid (+$651 annual maint) was considered a "fair and equitable" amount for such a Las Vegas time-share property and are just looking into that now while still inside the 5-day rescinding period.

ANY help or comments would be greatly appreciated
WOT

[wackymother]

Rescind right away!

You can get that Grandview week resale for a fraction of the amount you paid. We can help you do it and then make the most of your resale purchase. But first get out of your contract NOW, while you can.

[wackymother]

Here is a recently closed eBay auction for that property. I assume Week 8 is more desirable than Week 29 in Las Vegas, so an eBay auction for Week 8 might go a tiny bit higher...but then again, it might not.

Grandview Resort annual use week 29 -1br Las Vegas Blvd - eBay (item 140320805361 end time May-24-09 11:53:26 PDT)

[WopOnTour]

Wow
Why is it SOOOOO Cheap??
(now I'm REALLY questioning our purchase)

OK
So how would that affect the weeks of vacation time I currently could use?
If I purchased the unit on the eBay resale market (as your link is an example of) does that mean I would still get the "extra" weeks? or JUST 1 the week I would own outright? (the 4 additional weeks was IMO an attractive part of the deal but I suppose I would just buy 4 more properties on resale then??)

The example you've shown on eBay is for a 1/2 unit (1bdrm) of what we purchased. We have a large family and wanted something that sleeps 8, so could it be assumed (based on this auction) that the resale value of the full 2-bedroom units at Grandview are likely only selling for ~$1000 + maint? Ouch!

I think our week 8 is considered desirable not only because of the time of year but also due to the NASCAR race that runs on that weekend. Does this affect it's "value" in any way??

PS> Thanks for the help, we've always managed to just say "NO" in numerous timeshare presentations we've attended (usually while "leeching" off other family members time-share property or local resort "freebie" golf weekends) We just decided we could afford to buy into something now, but really have no interest in going to Vegas every year- especially during NASCAR week.
WOT
Plus, I would never have purchased ANYTHING on eBay from a seller with only a "2" rating (as in this auction) let alone property in another country but... Is there a more relaible way to purchase time on the resale market?

<EDIT>
and to add to my confusion. Here is a seller offering 1 WEEK STAY at the same resort (2BR though like we purchased) , for (based on what you've been saying) ALMOST what it could have been purchased for on resale... or am I missing something?
Item130309024367

[wackymother]

Originally Posted by WopOnTour

Wow
Why is it SOOOOO Cheap??
(now I'm REALLY questioning our purchase)

Yes! Keep questioning, and rescind NOW while you can! Believe me, they will be happy to sell to you at that $19K price later on if you still want it. But you MUST rescind within the recission period, following the instructions in the contract to the letter.

OK
So how would that affect the weeks of vacation time I currently could use?
If I purchased the unit on the eBay resale market (as your link is an example of) does that mean I would still get the "extra" weeks? or JUST 1 the week I would own outright? (the 4 additional weeks was IMO an attractive part of the deal but I suppose I would just buy 4 more properties on resale then??)

I'm not familiar with this property or what they're offering you. I suspect the "extra" weeks are RCI "Extra Vacations," which are rentals, or II "Getaways," which are also rentals, usually at less-than-desirable times.

The example you've shown on eBay is for a 1/2 unit (1bdrm) of what we purchased. We have a large family and wanted something that sleeps 8, so could it be assumed (based on this auction) that the resale value of the full 2-bedroom units at Grandview are likely only selling for ~$1000 + maint? Ouch!

If that, yes. We also have a large family and bought a 3br unit in Williamsburg several years ago. Fortunately we rescinded in time! (We were advised by a kind timeshare owner.) We later bought a resale not on eBay for literally 25 percent of what we were prepared to pay. Today the resale market has softened even more, to the point where we would easily buy our same unit for about $600, possibly less.

I think our week 8 is considered desirable not only because of the time of year but also due to the NASCAR race that runs on that weekend. Does this affect it's "value" in any way??

Very doubtful that it would. Maybe it would bring the resale value up to a whopping $1,000, between that and the 2br size. Please, please believe me that you should rescind now, while you have the chance. You will feel like you dodged a bullet, and you did--a $19,000 bullet!!!

PS> Thanks for the help, we've always managed to just say "NO" in numerous timeshare presentations we've attended (usually while "leeching" off other family members time-share property or local resort "freebie" golf weekends) We just decided we could afford to buy into something now, but really have no interest in going to Vegas every year- especially during NASCAR week.

We will gladly help you find a suitable resale. I think b/c it's a beautiful sunny Saturday, everyone else is out--normally there would be 20 people here echoing what I'm saying.

And if you don't want to go during NASCAR week, it's not much of an advantage to own then--you can buy when YOU want to go for pennies on the dollar.

Plus, I would never have purchased ANYTHING on eBay from a seller with only a "2" rating (as in this auction) let alone property in another country but... Is there a more relaible way to purchase time on the resale market?

You don't have to buy from eBay. There are several reliable resale sellers that people have mentioned here from time to time. One is Holiday Group. Or you can go to Redweek and buy from an individual seller. The prices will be somewhat higher, but the buying experience will probably be more pleasant. Remember the prices at both Holiday Group and Redweek are ASKING prices. You can negotiate, and they will expect you to negotiate, as with any large purchase.

and to add to my confusion. Here is a seller offering 1 WEEK STAY at the same resort (2BR though like we purchased) , for (based on what you've been saying) ALMOST what it could have been purchased for on resale... or am I missing something?
Item130309024367

Yes, that's how it works. Remember when you rent, you're not taking on the responsibility for maintenance fees and special assessments. Also, in the current economy, the rental market is down, too. So places that would have rented for a good bit of money are now going for bargain basement prices!

Please, please rescind! Really, you'll be glad you did. I hear the clock ticking.....

[iconnections]

Buying a timeshare is so easy but getting rid of it is not unless you give it away. This is why you see them so cheaply on eBay. I would do a lot more research before you buy again. You can even buy again from the developer too even if they tell you that you got a special deal that day. This isn't even true most of the time but why not buy it cheaper re-sale?

If you decide to rescind, follow the written instructions 100% and make copies of what you send back plus send it exactly the way they tell you to send it. Most likely by USPS but do it certified with a return receipt so you know that they got the paperwork. Good luck with your decision and let us know what you decide to do.

[wackymother]

There's a 2br week 2 at Redweek. The seller is asking $4,400.

[calgal]

You are very lucky to be questioning during the rescission period. Just go on ebay and look up all types of timeshares, including top of the line Marriotts, Hawaii weeks, Las Vegas weeks, etc. Look under "completed auctions" (tab on the left half way down screen). You will see how little timeshares are selling for. After you rescind and save $19K, take your time and figure out what works best for your family, in terms of location, season, etc. Maybe you will want the flexibility of a point system, maybe you want to exchange a lot, maybe you want to return to the same week every year.
Make sure you follow the exact instructions and document everything you mail to them. Good luck!!

[wackymother]

I thought of another reason to rescind!

If you have a large family, probably you have some children in there, right? Well, children generally have to attend school during Week 8. So even if your kids are not school age right now, they will be eventually, and then you won't be able to travel--you'll have to wait for the summer or a school break.

[dougp26364]

Originally Posted by wackymother

I thought of another reason to rescind!

If you have a large family, probably you have some children in there, right? Well, children generally have to attend school during Week 8. So even if your kids are not school age right now, they will be eventually, and then you won't be able to travel--you'll have to wait for the summer or a school break.

Or you can exchange that week through I.I. for a week that you can go on vacation. We do it all the time. One of the weeks we own is a fixed week/fixed unit in Las Vegas. Turns out after so many years we're not interested in traveling on that particular week. We've successfully exchanged it every year since 2004 or 2005. In fact, we never plan on using that week again. Of course things do tend to change so who knows, we might actually find use for that week in that unit sometime down the line.

Of course I am not advicating buying a developer week from Grandview. Those weeks are to easy to get resale for so much less and there's no difference between buying resale and buying developer at this resort that I'm aware of. I'd recommend canceling the contract but not because it's one particular week.