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Ruidoso NM— timeshare for free

Discussion in 'Free Timeshare Giveaways and Bargain Deals' started by Utahbeetle, Aug 19, 2018.

  1. Utahbeetle

    Utahbeetle TUG Member

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    Hi there,
    Timeshare in lovely Ruidoso NM...This was my parents unit, but they have both passed on and I don’t live close to NM.

    2-bedroom unit @ High Sierra Condos

    Week 26–which is considered in the “top” season— red

    Maintainance fee is $670 per year.

    Looking to transfer for 2019– so new owner would full advantage of 2019!
     
    Noel Behrmann and Merdock69 like this.
  2. Utahbeetle

    Utahbeetle TUG Member

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  3. Utahbeetle

    Utahbeetle TUG Member

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    It’s still available!
     
  4. DaveNW

    DaveNW TUG Review Crew: Expert TUG Member

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    I'm not interested in taking your timeshare, but wanted to make a couple of suggestions, in the name of helping a buyer decide if they might want this:

    Is the Week 26 fixed use every year in a specific unit, or does the Week or unit float? Checking the RCI website it shows two different resorts under this name - do you know which one it is? (High Sierra #1402 and High Sierra #DD61. Is there a difference, and is this ownership at one or the other of those?) Both are shown as RCI Points resorts - is this timeshare a Weeks ownership, or a Points ownership with an underlying deeded unit? You may have better success by finding these answers, and describing things very specifically, so a buyer will know what it is you're offering.

    I've had great success offering a timeshare for free if I agreed to pay the transfer fees for the new owner. It costs me a little more initially, but if it doesn't sell and new maintenance fees come due, I'm on the hook for that anyway. And maintenance fees are higher than the transfer fees would be. So it's money well spent. There is a Tug member, LT Transfers, (http://www.lttransfers.com), that does timeshare transfers for very reasonable prices (like $150 or so for a simple transfer.) They are very professional, and are highly regarded. They can do the transfer for you, and save your buyer that extra cost. Make the offer enticing, and you'll have better luck finding a new owner.

    (And if nothing else, have you contacted the resort to tell them of your parents' passing, and ask if they'll take a deed back of the ownership? If things haven't been transferred out of your parents' names, you don't have to accept the inheritance. You can have your attorney decline the inheritance, and the Resort HOA has to take back the timeshare. You can't be forced to accept it if you don't want it.)

    BTW, it looks like a very nice timeshare. :)

    Good luck!
    Dave
     
    Last edited: Sep 8, 2018
  5. Utahbeetle

    Utahbeetle TUG Member

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    Thanks Dave,

    I know at least some of that information and will add it in. I’ll call the resort for the other info you suggested. FYI the resort said it would do the deed transfer for free (we pay county filing cost) & so we would pay for the RCI Points membership transfer. “Transfer” seems to be used in these 2 different ways from what I can see. It’s not always clear what’s meant by “transfer.”

    My brother and I transferred the timeshare into our names a couple of years before my mom passed away thinking we would use it... best laid plans and what not. Then she passed on and we kept paying the maintenance fees. We were trying to give it away to someone who might want it before contacting the resort to see if they would take it back (per the TUG sellers Info). If we don’t see any activity on TUG then this is our next step.

    Thanks,
    Utahbeetle


     
  6. DaveNW

    DaveNW TUG Review Crew: Expert TUG Member

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    Thanks for clarifying. Yes, if you're on the deed, then you're the new owner. I don't know what the resale value is of this resort, but a quick check on eBay shows only one Completed sale - a 3 bedroom that sold in June for 1 dollar. I just see your ad there listing your unit for sale, as the only current For Sale ad. There are none in the Tug Marketplace. Redweek.com only has two listings, (both 3 bedroom units.) Sumday Vacations has only one unit in Ruidoso, but it's a different resort. You don't have a lot to work with.

    The word "transfer" only relates to the processing of the paperwork to change the name on the recorded deed of ownership. It's a simple document, listing buyer and seller, and the legal jargon that goes with this ownership. In this case, a transfer to a new owner would be taking it out of your name and putting it into the name of the new owner. The new deed is prepared, the parties sign it, and it gets recorded in the county where the timeshare is located. The resort then transfers the ownership into the new owner's name, and you're out of the picture. It's pretty easy.

    If your eBay listing doesn't work, I think you might ask the resort if they will take a deed back. You might have to pay them a fee for this, but if you just want out, paying them those fees may be the simplest answer.

    But there is a slightly different wrinkle to all this: If this ownership is in RCI Points, have you thought about using it yourself? You don't have to stay at this resort. It provides a value of RCI Points, so you could deposit it to RCI, and exchange it for something you do want to use. The maintenance fees seen very low ($670 a year for a 2 bedroom unit is very low) and "points are points" when it comes to exchanges. If you take vacations, you may find this is a viable option for you, rather than bailing out. It's worth considering.

    Again, good luck!

    Dave
     
  7. bogey21

    bogey21 TUG Member

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    You might ask about this when checking with the Resort to see if they will take it back. It might be a good alternative...

    George
     
  8. Utahbeetle

    Utahbeetle TUG Member

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    Thanks for all the good advice and information— it really is very helpful. I’m also trying to do a TUG Marketplace bargain basement ad. We are familiar with RCI and points and used it that way a couple of times, but the RCI fees are too high of a financial burden for me in addition to the MF. First my parents paid all the RCI fees so that was all great! So even though my brother and I own it jointly after they passed on, it’s just me paying all those fees now.

    I’m following the TUG advice to see if I can give it away first. If there is no interest then the next step is to approach the resort... relying on the TUG advice (and what you all have provided) for that. We are hoping that our family’s record of paying the MFs on time for 30 years and them (and us) not wanting a foreclosure will encourage them to take it back. We figure that we would have to pay a take-back fee for that and are even willing to offer a final maintainance payment as an incentive.

    We press on...,

     
  9. DaveNW

    DaveNW TUG Review Crew: Expert TUG Member

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    If you intend to approach the resort about giving it back, you might want to do that before the new maintenance fees go out. I assume you're paid for 2018. If 2019 bills go out near the end of the year, and are payable in January, you may want to get things transferred before that billing cycle, to keep things clean.

    And frankly, if you've had your ads up for a few days and have no real interest, I'd say you have nothing to lose by approaching the resort about them taking it back. You can wait a long time for nothing to happen, you know? Is anybody watching your eBay auction? Often times, those watchers will snipe bid at the end. If you have no watchers, you probably don't have many interested in the auction.

    Dave
     
  10. Utahbeetle

    Utahbeetle TUG Member

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    I haven’t replied to this thread in awhile and I wanted to wait until all the paperwork was completed. We followed the advice from TUG and were successful in giving back the timeshare that my parents had owned for 30+ years for a fair cost. We did NOT use a timeshare exit company! The TUG membership fee was well worth the advice we received.
     
    Krteczech, klpca, RNCollins and 6 others like this.

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