Do sellers routinely give away current year usage?

[DebBrown]

I have my timeshare weeks listed for sale. They are summer weeks and available for use this year. I just spent an hour on the phone with someone who is apparently interested in buying but only if I give her the 2019 usage for free. I may have been willing to do this if I thought the transfer would actually close before the use dates.

How long should I expect a closing to take with LT transfers? I have certainly seen people offer the current year's usage for free but is it now customary?

She actually told me that she stayed in someone else's timeshare for free because she planned on buying it and then the deal feel through. And that's supposed to make me feel better??!!

 

[SteelerGal]

I have only purchased one timeshare w/ free usage. And it will actually be II Trade because timing.It’s an added bonus but not an expectation.

LT Transfers is quick. I just had a transfer completed under 2wks. Now just waiting for it to show up in my account.

 

[VacationForever]

It depends on the timeshare, whether it is worth something or worthless and as such an incentive has to be thrown in to sweeten the deal.

LT Transfers is just one part of the equation in the transfer process. Much has to do with the resort as to how quickly they transfer to the new owner.

 

[DebBrown]

This is actually a give away although I called it a "sale". I will look into the length of time to close.

Does anyone think it would make sense for the buyer to put the rental amount in escrow? If she doesn't buy, she forfeits the rental amount? I'm feeling a little scammed here.

 

[Panina]

This is actually a give away although I called it a "sale". I will look into the length of time to close.

Does anyone think it would make sense for the buyer to put the rental amount in escrow? If she doesn't buy, she forfeits the rental amount? I'm feeling a little scammed here.

I would tell her if it closes prior to the week she can have use for free. If it doesn’t close in time, in order to protect yourself, she can use it but has to put the maintenance fee in escow, refundable once it closes but if she backs out after use, you keep it. Make sure you write up the agreement that clearly states this as part of the purchase. This is more then fair and if she doesn’t agree I would move on.

 

[DebBrown]

I would tell her if it closes prior to the week she can have use for free. If it doesn’t close in time, in order to protect yourself, she can use it but has to put the maintenance fee in escow, refundable once it closes but if she backs out after use, you keep it. Make sure you write up the agreement that clearly states this as part of the purchase. This is more then fair and if she doesn’t agree I would move on.

Yes, that is what I was thinking of. Thanks.

 

[RX8]

I guess you will know if she was out to scam you if she rejects the MF in escrow option.

 

[cerralee]

I tried to buy two weeks that are listed in the sale section of TUG. The owner claims he can’t sell them to me until January. He said I would be first in line to buy them if they are still there in January. If I have to wait until January to start the transfer process I know the weeks I would like to ask for will be near impossible to reserve. I think part of the problem is he has reserved two units during Christmas that I have no interest in. He has them for rent in an entirely separate ad in the rentals section. I already have plans for Christmas this year and can’t travel again this year anyway. Nowhere in his two separate ads does he mention one is contingent to the other.
Guess it’s not meant to be.

 

[DebBrown]

I tried to buy two weeks that are listed in the sale section of TUG. The owner claims he can’t sell them to me until January. He said I would be first in line to buy them if they are still there in January. If I have to wait until January to start the transfer process I know the weeks I would like to ask for will be near impossible to reserve. I think part of the problem is he has reserved two units during Christmas that I have no interest in. He has them for rent in an entirely separate ad in the rentals section. I already have plans for Christmas this year and can’t travel again this year anyway. Nowhere in his two separate ads does he mention one is contingent to the other.
Guess it’s not meant to be.

The usage of weeks could be handled via the contract. I'm sorry it isn't working out.

 

[DebBrown]

I offered her the escrow option and she hasn't replied. I guess she just wanted to use a week for free. Her name is Sarah from New Jersey. I have an email and phone. If someone thinks this same person is contacting them, you can message me for info.

 

[silentg]

We have sold/ given away two timeshares recently. One had a week use this year so we included that in the deal. The other week I had exchanged with another Tug member so it’s in the paperwork as sold but new owner doesn’t have use until 2020.
LT Transfer handled both transactions for us.
Contact them for advice and when you know for sure you have someone interested they will help you with the process.
Silentg

 

[icydog]

I just sold a Marriott timeshare, almost a give away, and it took forever to close with LT. I don't know what happened with the buyer but he dragged his feet and then claimed it was the fault of the closing company.

It was stated in all the paperwork the that timeshare usage began in June 2019. He paid the maintenance fees for 2019 so he could get this year's usage. At the end of all this, and the contract had finally closed, he wanted me to take the week back and repay his maintenance fees. I called Marriott and there was no mechanism to change the date of the week since it was within 60 days. LT claimed no foul in this mess. The owner blamed everyone. I finally gave up. The check should be in the mail to me right now.

Had the owner returned his payment and paperwork on time he would not have found himself without a 2019 week he paid for. I feel very badly for the new guy but my hands are/were tied.

 

[DebBrown]

Had the owner returned his payment and paperwork on time he would not have found himself without a 2019 week he paid for. I feel very badly for the new guy but my hands are/were tied.

It pays to do your homework and understand how things work.

 

[brianfox]

To OP: Sellers do not routinely do any particular thing with the current year usage when selling a timeshare.
If your ad listed 2020 as first year use then buyer should have no expectation that the 2019 year use is on the table.
You could have told prospective buyer it had been deposited to an exchange company, already used, or rented out.
Since it's now up for consideration, and not knowing for sure when sale would close, I would suggest telling seller it's off the table, and see if they walk. Putting current year use as a "free rental" but essentially requiring a deposit for the rental, refundable at closing (otherwise nonrefundable) is pretty awkward - especially not knowing closing date.

Indications are that buyer is either a scam or has unrealistic expectations. Her telling you she successfully got a free use and backed out of a purchase leaves me puzzled.