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selling timeshare [Manhattan Club]

TUGBrian

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the LTRBA membership all work off commission with no upfront fees charged.

however you might want to look into the current resale market to see what your particular timeshare is being offered for. if its already being given away for free (or nearly free) by owners, you might be better off selling yourself using the how to sell guide here

http://sell.tug2.net
 

shopping_zebra

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what about the legal paperwork

Yes the timeshare unit are being given away, so I guess no one will be working on commission to sell them. The problem is I need a broker, or someone, who can handle the complex paper work required to handle a sale in NY for the manhattan club. I am not sure how to find someone for that.
 
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TUGBrian

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those members of the LTRBA will sometimes work for a flat rate to be paid after the sale is completed, certainly doesnt hurt to ask.

however selling yourself does not mean you have to handle all the paperwork yourself, there are plenty of companies out there that will handle the closing services and paperwork to complete the sale.

many are listed here http://tug2.net/busiads.shtml

you are welcome to contact any or all of them and see who can best assist you with the timeshare you are looking to sell..and be sure to mention you found them thru TUG!
 

jmurp62

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List it here

Why not tell us what you have? Someone here might be willing to take it off your hands. What do you have?
 

TUGBrian

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sorry, i had removed the link...they are trying to sell the Manhattan club.

and yes, since you are offering it for free, you should post up the details here and ill move this into the bargain deals section for you.
 

tschwa2

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I believe most brokers will charge a flat fee of $1500-$2500 as a minimum commission or more if the sales figure is high enough. I don't think that includes closing. The broker advertises the unit and answers inquiries. Brokers often have closing agents that they use but you pay separately for the closing agent plus transfer fees plus recording fees.
 

DeniseM

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shopping_zebra

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Has someone looked into the people advertising on TUG? I suppose if there were problems there would be posts about them on TUG, so I could look.
 

shopping_zebra

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DeniseM,

I read the thread, thanks. I am trying to do what it says in thread in step 2) of making an attractive offer.....

inexpensive transfer/closings are around $150 - ask for recommendations on TUG.

Would you agree with Brian's suggestion of using one of the people advertising on TUG?
 

DeniseM

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DeniseM,

I read the thread, thanks. I am trying to do what it says in thread in step 2) of making an attractive offer.....

inexpensive transfer/closings are around $150 - ask for recommendations on TUG.

Would you agree with Brian's suggestion of using one of the people advertising on TUG?

I would use LT Transfers - I have used them many times myself, and they are Tuggers. If you look at the link to the sample Ad, you will see all their info:

SAMPLE AD: http://www.tugbbs.com/forums/showthread.php?t=224197
 

cyntravel

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Bargain Deals

Hi

I will second the referral of DeniseM for LT Transfers. I have used them several times and they are wonderful to work with.

Cyn
 

icydog

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tahoeJoe

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Since I am giving my weeks away, I think it only fair that the person receiving them pay the closing fees.. Don't you?

Not necessarily. The MFs are so high (over $2700 per week for a 1 bedroom) at Manhattan Club that the value of the deed may be zero. Plenty of low value TS week owners often pay all closing fees and a cash bonus on top of that. Check this out....

http://tugbbs.com/forums/showthread.php?t=241494

What it all comes down to is how much you want out from under this.
 
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DeniseM

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Since I am giving my weeks away, I think it only fair that the person receiving them pay the closing fees.. Don't you?

I don't think it's really a matter of "fair" - this is a negotiable item.

It really depends on how motivated you are to re-home your timeshare. Paying the transfer fee is likely to help it find a home sooner.

I look at it this way - "I don't mind paying the transfer fee, because that is a lot less than paying next year's maintenance fee!"
 

shopping_zebra

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bargain deals

sorry, i had removed the link...they are trying to sell the Manhattan club.

and yes, since you are offering it for free, you should post up the details here and ill move this into the bargain deals section for you.

I have listed the unit for sale and if you could put it in the bargain deals that would be great. Here is the listing:

Thanksgiving Flex week - Thanksgiving PLUS three more day that can mean another weekend
The Manhattan Club 200 West 56th Street New York, NY - 7 days in NYC at Thanksgiving very near the parade route so you can checkout the floats the night before, great location near Carnegie Hall, 1 Bedroom Suite - Bedroom with Kingsize bed and pullout double bed sofa in the living room. 'kitchen area' with microwave and dishwasher. A fifth person could be added with a cot.

Includes 5 days for Thanksgiving 2016 with the maintenance paid. I am using 2 days in May 2016.
I will pay the closing costs.
 

DeniseM

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shopping_zebra -

Because there are a lot of side-bars in this thread, you should start an entirely new thread, with the details:

Review this post for what you should include: http://www.tugbbs.com/forums/showthread.php?t=132509

To start a new thread:

Start Here: http://www.tugbbs.com/forums/forumdisplay.php?f=55

Click: NEW THREAD


Be sure you include the maintenance fee.

Be sure you state that it is free - not "for sale."

Since you are using the ownership in 2016, the usage for the new owner will start in 2017.

I don't believe it is possible to transfer the deed to a new owner in 2016, AND keep the reservation you are using yourself.

However, you could offer to provide the buyer with a Guest Certificate, for the 5 days you aren't using in 2016.
 
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DeniseM

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falmouth3

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Denise, I understand that it has high maintenance fees, but units are still being sold on-site and the maintenance fees are still as high when sold that way. I'm just thinking that the owner may be acting too hastily but it certainly would be easier to give away than trying to sell it.
 

silentg

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Denise, I understand that it has high maintenance fees, but units are still being sold on-site and the maintenance fees are still as high when sold that way. I'm just thinking that the owner may be acting too hastily but it certainly would be easier to give away than trying to sell it.

If I owned that week I would rent it not give it away! Don't be hasty!
Silentg
 

ronparise

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There are five recent Manhatten Club sales on ebay, so it looks like there is an active market for this stuff. one went for $5.50, but the seller paid the closing costs

I thought everything there was a floating weeks, but if not and if what you own guarantees Thanksgiving week I think you could get real money for this thing. I know mf is over $2000 but hotel rooms in NY are much more than that.

Id sure talk to a broker It might cost you a commission, and you might even have to pay to get rid of it, but remember each year you dont sell it costs you another $2000
 

GrayFal

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There are five recent Manhatten Club sales on ebay, so it looks like there is an active market for this stuff. one went for $5.50, but the seller paid the closing costs

I thought everything there was a floating weeks, but if not and if what you own guarantees Thanksgiving week I think you could get real money for this thing. I know mf is over $2000 but hotel rooms in NY are much more than that.

Id sure talk to a broker It might cost you a commission, and you might even have to pay to get rid of it, but remember each year you dont sell it costs you another $2000

Agree that if this is fixed Thanksgiving (or New Years) it would have some value.
Maint fee on 1BR is $2,700 but they are similar to two hotel rooms because if two full baths.
 

tahoeJoe

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Agree that if this is fixed Thanksgiving (or New Years) it would have some value.

I would double check this guaranteed fixed Thanksgiving week. Like Ron, I thought all weeks at MC were floating. Regardless, Thanksgiving is always the fourth Thursday of November. Given the day of the week Nov 1 falls on, Thanksgiving can range from November 22 to November 28. It would seem that Thanksgiving would fall on either week 47 or week 48 and I'm not sure how that is considered fixed.
 

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decided against selling

In response to the last couple of posts -- I just checked and my fees for 2017 would be $2842 and my unit is for the sunday to sunday of Thanksgiving week. The comment on how Thanksgiving is never a 'fixed week' and how this can work is a good question I should have been asking before I bought the unit. But I have decided not to pay next years fees, as many TMCNY owners are doing. The developer is being investigated by the NY attorney general and so this seems the appropriate action having read the lengthy postings on redweek, the yahoo email stream, and the facebook posts. I have decided that selling the unit would be unfair to whoever thought they were getting a deal.

Hopefully the lawsuit will get resolved soon and the timeshare will be run under sound management. If that was the case they would be happy to take my unit back and they would be able to sell it to someone else.
 
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