Most people who have purchased from the resort seem to end up on tour year after year with no clue of how they are being played on the pricing of a unit. Many people have never even questioned the way the price is and how the resort can continually keep dropping the price right in front of their very eyes.
Have you ever wondered how they do this? well let me tell you about the price fixing and the price gouging that goes on.
First Example: Let’s say you purchased a unit and you paid it off. Lets say you paid $10,990 for a one bed room unit and decided to trade it and you owned week 21. Now you want to upgrade to week 21 in a two bedroom unit how much would this cost you? Well The week 21 in a two bedroom cost $13,990 and the resort says that they will give you full equity for your unit. Now shouldn’t that be the $10,990. well if this is the case the new unit should only cost you $3,990 correct? Well think again, here is where they automatically add an additional $10,000 to the price. They show you the unit price that should be $13,990 as $23,990 then they subtract your $10,990 bringing the price back down to the original price now charging you the original $13,990. This practice goes on every day and every customer who owns there has been ripped off.
How do I know this? We the sales personal are trained in this fashion. It is ordered by upper management and any deviation would cause termination. I still hold my actual deal sheets as proof of this deception, and I refused to continue to follow their ways. Yes I was a top salesman and received awards for selling but I did it in an honest way. This is why I was singled out and always pushed aside buy other managers and directors other salesman were told to avoid me due to writing low deals. This resort had a ten thousand dollar minimum on any in-house deal unless it was a points conversion, which had a minimum of $7000.
Let’s use a different example:
Lets say you bought that same one bedroom unit for week 21 for $10,990 and paid only $3,000 of it off. Here is what happens when you want to trade it in for that same week 21 two bedroom unit, Now you have a balance due of $7,990 left until payoff, correct. Here is what happens, the sales person now gows up and writes your ticket, he will take that same $13,990 unit and apply an additional $7,990 to it making it now $21,980 now he/she will deduct your equity of $3,000 using this as part of your down payment leaving you the new price of $18,980 now you need to put at least 10% down plus a new closing cost of $545 leaving you a grand total of $3,545.00 down and a monthly payment of around $340.00 a month. Oh yea lets not forget the new RCI fee of $199.00 they will use your $3000.00 equity and total down will be the $545.00 + the $199.00 RCI for a total of $744.00 is what is out of pocket.
Now if the unit you were trading for was under $10,000 they would have added it this way, Lets say you paied off $7000.00 instead of $3000.00 and the unit you were upgrading to was $13,990.00.you may think you are going to only pay $6990.00 if you think this you are wrong. Take that same $13,990.00 and add $10,000.00 to it to bring it up to $23,990.00 now subtract your equity to bring it down to $16,990.00 this would be your cost. if this was the case go back to the first example anytime the price you are trading for is under ten thousand dollars they will add $10,000 to it to bring it over the ten thousand dollar mark. The lowest cost the resort would allow on the floor was a $8,500.00 deal