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Realistic Appraisal Value on Reselling My Timeshare

stkemp

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Hi Everyone,

I'm looking to resell my time share. It's mortgage free, title in hand and current years MFs are paid for plus I have last year's week banked as we have not been able to go on vacation due to my military retirement and going back to school.

With that being said, I've started listing it online in ads (Including here on Tug).

My question is what is the quickest way to determine my timeshare's no kidding value? Obviously, I'm not going to get back what I paid for it but since it is paid for including this year, I would like to make some cash back. Without having to spend hours surfing through ads/ebay/etc are there any appraisal calculators out there that I can get a "blue book" rough value to see if this is even worth my effort?

I can't stand telemarketers and I have no patience dealing with all of the "hey, we're here to help you sell your timeshare, just send us $$$ and we'll take care of it for you"....(yeah right)

Anyways, any thoughts would be helpful. I've already read the threads on reselling and get it that my timeshare has depreciated big time but I would like to recoup some of it if that is possible.

Thanks for the any help.
 

DeniseM

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Except for the top hotel affiliated resorts, most timeshares sell for 0-10% of original retail, on the resale market. (Starwood, Hilton, Disney, Marriott, Hyatt, etc.)

There is no Blue Book, and for the most part, you can simply ignore listings prices on the internet, because most owners don't know what their timeshare is worth on the resale market, and price it far, far above a realistic price.

Go to http://www.ebay.com/ - Put the exact resort name in the search box, after the listings come up, select "completed listings" from the bottom of the list on the left. That will show you what they are actually selling for.

If you believe you own a top resort with high resale value, you may want to consult with a reputable timeshare broker.
 

Passepartout

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You ain't gonna like this.... Sign on to eBay. put your resort name in the search window. down the left side, select 'completed auctions'. That will show you what actualy units like yours have sold for. The green ones sold, the red ones didn't.

We can commiserate with you. Timeshares today sell for zero to 10% of their original price. There are some of the hotel branded ones in prime locations in prime seasons that will return some percentage, but the majority have to be like yours. Mortgage free, MF paid. Some have even had to pay transfer fees and offer new owners a Visa debit card on closing.

Good Luck!

Jim
 

stkemp

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That's what I was afraid of

I was hoping to recoup some cash. My wife and I are getting divorced and we thought that if we could sell the timeshare we haven't used in two years, we could use some cash to buy our daughter a "starter" care when she turns 16 and maybe bank some of the "leftover" money to put towards the car insurance that's going to triple when she gets her license soon. (I know, I know, don't laugh) I'm headed to eBay to see what I'm going to probably get but something tells me I probably need to go ahead and bring some KY or lube with me...Thanks for the heads up guys.:doh:
 

Passepartout

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You haven't mentioned what you have. I mean, it MIGHT be one of those jewels, a 2 BR ski week in Park City or Aspen in late January, or an ocean front Hawaii during Spring Break. We DO have some TUGgers who are really great brokers for those high end TSs. If you join TUG, you can list your TS in the Marketplace (red stripe above) for no additional charge and you can list it for whatever price you think it will pull. If you aren't fortunate enough to have one of those, you can price it under $500 and put a free ad in the Bargain Deals subforum under Buying, Selling, Renting. Put all the details in there, make the ad attractive, refresh it to keep it high on the top page, and it will sell.
 

vacationhopeful

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......, you can price it under $500 and put a free ad in the Bargain Deals subforum under Buying, Selling, Renting. Put all the details in there, make the ad attractive, refresh it to keep it high on the top page, and it will sell.

Sell might be the slightly WRONG term..

Read the Bargain Basement offers .. most involve the current owner paying transfer fees, closing costs and the really, DOG WEEKS or "it has to go NOW" weeks ... you are including some or all of 2016 MFs payment.

Or find an eBay guru ... might go faster!
 

stkemp

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Ducking from the knives about to be thrown

I got suckered in 2010 to buy at Westgate Vacation Villas. It's a 2bd 2ba full kitchen sleeps 8 annual floating week with this year's MFs paid. BL - was trying to come up with some quick cash to offset the cost of raising teenagers. LOL:wall:

just looked up the going rates on ebay and I'm glad I brought the KY. No kiss, no reach around...not even a steak dinner or a hug. :eek:

We loved going and the options but we haven't used it since 2013 and since the MFs keep going up, it's just not fiscally reasonable for us to keep it. I'm not just looking to "unload" it to get rid of the MFs. We honestly thought we had some "equity" in it since it was paid for. Apparently that is not the case. :shrug:

I need a beer and hug.
 

vacationhopeful

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I got suckered in 2010 to buy at Westgate Vacation Villas. .....I need a beer and hug.

Sorry ... but there are only a few resorts which HOLD some of the developer purchase price levels ... Wastegate is NOT even close .. hard to even get rid of it.

Either use it or incur more costs, trade it. One thing about trading, if you are doing 2 weeks back to back --- say Panama City and then New Orleans, you are only doing the long road trip once a year but paying for your ROOF 1 week per year.
 

TUGBrian

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sorry to not have better news for you....but gone are the glory days where you could perhaps expect to get even 50cents on the dollar from the original purchase price.

its been a buyers market for years, and thats never good news for a seller.
 

Passepartout

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Give it to the ex. This thing has negative value. e.g. you'll have to pay someone to take it. Or try Craigslist and book a nice week for the next owner.

Problem is Wastegate strips any value from resales. They can't be booked until 45-60- days before move-in. They charge high transfer fees. If the new owner tries to deposit a week into RCI, Wastegate selects the lowest value 'mud' week to deposit.

I'm sorry to be so harsh, but that's the reality of it.
 

55plus

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Give it to the ex.


Yes, give it to your ex so she can take the kids there. Tell her you'll pay the maintenance fees for the next 6 months or so. Have a quit claim deed already prepared taking your name of it so if she agrees. Then take her to a notary and have her sign it...
 

am1

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With the money you save from not paying the annual fees that can help towards a car.

Give it to your ex.
 

stkemp

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She doesn't want it. It was her idea to sell it to help get a car.
 

presley

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The problem with Westgate timeshares is they devalue them significantly when they are resold. It is a very dumb move on Westgate's part, making it close to impossible for anyone to sell or transfer their timeshare because the new owner won't have any of the benefits that came with the original sale.

You can either scrap it by not paying anymore and taking a hit on your credit for foreclosure, offer it for free by advertising many places, or you can consider keeping it and exchanging for vacations that you would actually want to take. The smaller exchange companies like SFX, Platinum Interchange and many others will accept that as a deposit. You'd have to pay an exchange fee, but at least you might get some use out of it. Your last choice is to pay another company to take it off your hands. You pay them something (no idea how much) and then they sell it on ebay and you get nothing in return, but you also never have to pay for it again and you will no longer own it.
 

durrod

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You could give it back to westgate

I want to add another option that has not been discuss here. There have been reports on tug that westgate has been accepting deeded back to them.
It may cost a few hundred dollars on some fees by their part but it would be the least cost and easier way to get rid of an unwanted westgate timeshare. You just contact them and go from there. They require a paid off and up to date account week.
 

Passepartout

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I want to add another option that has not been discuss here. There have been reports on tug that westgate has been accepting deeded back to them.
It may cost a few hundred dollars on some fees by their part but it would be the least cost and easier way to get rid of an unwanted westgate timeshare. You just contact them and go from there. They require a paid off and up to date account week.

Good point. This might be the best way to unload this dog. IF (and it's a big IF) they'll take it back. They don't always take deedbacks. Call corporate Owner Services to find out how to proceed.

Jim
 
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