We just purchased a Bluegreen Travel Time share. Did we make a mistake buying their package?

Question

We bought the 7,000 point package. I am a little concerned about the yearly renewel price and maintainance price.

Answer 1

Without knowing any other details it's hard to say, but it sounds like a bad deal to me.

Here's a tip for anyone who wants to get out of a time share contract. Read it very carefully, to see if there is a legal description of the property. If there isn't, it's not a legal contract. Find an attorney to write a nastygram for you, and the developer will probably back off. Expect to pay the attorney a couple of hundred dollars to write the letter for you. Pay it and thank him, it's money well spent.

Answer 2

First question would be when did you make the purchase? There is a rescission period in all states and varies per state. The average is 3-5 business days, but some are as many as 7 days. If you are within the rescission period send a certified letter to the sales office and corporate office advising of your decision to recind the contract.

If the time period has already passed then that's a different story all together. My opinion is that, yes, it was a mistake. I know for a fact that there are 7,000 point packages on EBAY for under $2,000. Most of these include points(7,000-14,000) that were "rolled over" or "banked" from the previous year(s). Points are automatically valid for 1 year from the date they were added to your account, and if you "roll them over" or "bank" them you can add an additional year of time. So for example if you received 7,000 points on 10/1/04 they would automatically be valid until 10/31/05, but if you "rolled them over" they would be valid until 10/31/06. This is how some of these packages on EBAY have more than the regular 7,000 annual points.

The next question would be about your intentions. Did you sign up for this Bluegreen Timeshare to use within the Bluegreen Network, or did you want to exchange your points with RCI? Let me know directly and I'll help you make the most of your purchase, assuming it's already past the rescission period. I know this system very very well and would be more than happy to help.

Answer 3

Time shares are generally a pyramid scheme. The only people who truly benefit from the idea are the developers, never the time-share holders. You will discover that re-selling your time share will not be an easy task.