The question you ask is straightforward, but the answer is surprisingly complex. I'll try not to confuse. HICV has expanded so quickly by buying existing resorts and rebranding them to HICV. Current owners at those resorts are usually enticed to convert their ownership into HICV points because of the extra benefits that membership provides. It is a big sales incentive because most of the time an additional purchase directly from Orange Lake is required in order bring the units that are already owned into the points system. Most of the resort units owned by previous owners are "weeks" units. Owners of "weeks" who do not join the HICV club are limited to use their specific week in their particular unit at their home resort only. The exception is ownership at South Beach (Myrtle Beach), Lake Geneva (Wisconsin), and Smoky Mtn (Gatlinburg). These three resorts are "points only" which means that points transfer with the deed and are not subject to conversion into the HICV club. All points are good at all resorts, but points from the three Points Only resorts do not count towards membership status (Preferred, Premier, Prestige, or Elite) unless, like the "weeks only" resorts an additional purchase is made directly from Orange Lake. So, if you want the benefits of status you will need a minimum of 300,000 points. The most cost-effective way to do this is to buy two resale units and then work with Orange Lake on a new purchase and converting the resale weeks to points. A word of extreme caution…get everything in writing. Regarding your specific situation, the unit you purchased has very high maintenance costs ($15.3/1000 points). You can find ebay, craiglist, and the internet littered with people trying to unload these high maintenance cost units. Consider rescinding. I can help you more if I know your specific goals and spending limits. You can private message me if you like.
Monday, June 13, 2016
ReplyDelete1:30 PM
The question you ask is straightforward, but the answer is surprisingly complex. I'll try not to confuse. HICV has expanded so quickly by buying existing resorts and rebranding them to HICV. Current owners at those resorts are usually enticed to convert their ownership into HICV points because of the extra benefits that membership provides. It is a big sales incentive because most of the time an additional purchase directly from Orange Lake is required in order bring the units that are already owned into the points system. Most of the resort units owned by previous owners are "weeks" units. Owners of "weeks" who do not join the HICV club are limited to use their specific week in their particular unit at their home resort only. The exception is ownership at South Beach (Myrtle Beach), Lake Geneva (Wisconsin), and Smoky Mtn (Gatlinburg). These three resorts are "points only" which means that points transfer with the deed and are not subject to conversion into the HICV club. All points are good at all resorts, but points from the three Points Only resorts do not count towards membership status (Preferred, Premier, Prestige, or Elite) unless, like the "weeks only" resorts an additional purchase is made directly from Orange Lake. So, if you want the benefits of status you will need a minimum of 300,000 points. The most cost-effective way to do this is to buy two resale units and then work with Orange Lake on a new purchase and converting the resale weeks to points. A word of extreme caution…get everything in writing. Regarding your specific situation, the unit you purchased has very high maintenance costs ($15.3/1000 points). You can find ebay, craiglist, and the internet littered with people trying to unload these high maintenance cost units. Consider rescinding. I can help you more if I know your specific goals and spending limits. You can private message me if you like.
Scott Kotrla Thank you for this forum, I will be drafting my rescind letter later today and sending out registered mail. Thank you Scott.
ReplyDeleteMagicMedic How do I private message you?
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