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Selling my mom's timeshare (Vacation Village at Parkway) - pointers?

Discussion in 'Buying, Selling & Renting Timeshares' started by irenenina, Mar 5, 2019.

  1. irenenina

    irenenina Guest

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    Resorts Owned:
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    Hi everyone,

    I am learning as I go along, but I'm here to help my mom sell her timeshare. I don't think even she understands what she purchased fully so I am navigating through all her old documents trying to figure it out for her. My mom says she has never actually been to the timeshare she owns and has always deposited her weeks into RCI and vacationed elsewhere.

    Our documents indicate we own a 2-bed, 2-bath suite at Vacation Village at Parkway in Kissimmee, Florida, week 32, odd, max. occupancy: 8. I believe this is a fixed week based on my reading of the different terms and definitions. Am I correct? Because I also found one specific document entitled "Enrollment Application" from RCI Community that states under "Unit Number" the word "FLOAT".

    Moreover, another document indicates we have suite #xxxx A/B, and my mom has said that every time she deposits her weeks into RCI, she deposits weeks for both "A" and "B". What could this mean?

    I am also very confused about our RCI membership and its connection to our timeshare ownership.

    Will we be selling our RCI membership as well if we sell our timeshare?

    We currently have 3 weeks to deposit - our RCI account indicates it is for years 2019, 2020, and 2021. This confuses me because our documents say that we have week 32, every odd year. So why do we have a week to deposit for 2020 as well? And I also thought we paid maintenance fees every two years, so why do we have a week to deposit for each of the next three years?

    Our RCI account also states we have two weeks "ready for exchange" with a total deposit trading power of 30 (25+5). These are weeks from previous years that are unused I gather.

    Does whoever buy our timeshare get these weeks as well?

    Also does anyone have any knowledge about what the market is like for timeshares in Kissimmee, Florida right now? I live in Toronto, Canada, so I don't really know. Is it a good time to sell or should I wait and try to rent it out first?

    If I rent it out, can I only rent out the specific week(s) we own or can I also rent out the RCI membership to them so they can choose to deposit the weeks and exchange for something else?

    I'm sorry for all my newbie questions, but I would greatly appreciate any guidance anyone can give me.

    My mother is unemployed and has been struggling to maintain predictable employment ever since her broke up with her common-law partner and was divorced by my dad. My sister and I are also older now and both adults, so we really don't vacation as much together anymore. I'm worried about my mom's financial stability and this is just another added strain on her. I feel bad because she probably bought this timeshare thinking she can take us on trips as a family after my dad and her split, but our family's been through rough times this last decade and a half. So I'd really like to try my best to help her with this so it's not another added burden for her.

    Thank you all in advance.
     
  2. dayooper

    dayooper TUG Member

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    I hate to be the bearer of bad news but most timeshares have little to no value and have to be given away. There is an annual one in the bargain right now that is a week 32 2 bedroom at Vacation Villages that some is trying to give away. Since Orlando is saturated with timeshares, it’s very difficult to get enough renting to even cover the MF’s. My guess is that your mother will have to give the unit away and maybe even pay for the closing.

    As far as your mothers unit, I believe the A+B is the room types for the lock off. Each side of the unit has a full kitchen at that resort. If I remember correctly, each 2 bedroom lock off has an A side, but different buildings have different units they are attached to. I believe the B unit is larger than a C unit, but I could be wrong.

    Not sure on the RCI membership so maybe others can help there.

    @irenenina welcome to Tug and wish I was bringing better news. You have come to the right place for info, though and this community will help you navigate through.
     
  3. TheHolleys87

    TheHolleys87 TUG Member

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    DVC Boardwalk Villas, Shell Hawaii Club, Kona Coast II
    Kissimmee is part of the Orlando FL metroplex, and your mother’s timeshare is actually pretty conveniently located close to Walt Disney World. Unfortunately, as dayooper states above, the Orlando area is overbuilt with timeshares, so even though it’s a nice resort in a good location, there’s not much of a market for resales. Sorry!

    If you have the time and desire, you might be able to rent it, though. Sorry I don’t have enough experience with VVP and RCI rentals to be able to answer your other questions.
     
  4. silentg

    silentg TUG Review Crew: Expert TUG Member

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    Orange Lake, Fitzpatrick's Castle Holiday Homes, The Pines At Aspen East, Oyster Bay
    You may want to contact VV at Parkway, to see if they will take the deed back. That will free your mother of maintenance fees.
    Also contact RCI to see how much time is left on her membership. If it’s close to expiring, try to use whatever you have spacebanked, if there is nothing then just let it expire.
    Good Luck!
    Silentg
     
    easyrider likes this.
  5. LannyPC

    LannyPC TUG Member

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    Hopefully your mom hasn't fallen for any of these scam companies yet that phone TS owners saying they will sell or get rid of her property for her. Owners of TSs in Orlando are huge targets for these scammers.

    We're glad you came to TUG first seeking advice. So for you and your mother, do not go seeking the alleged "help" that these companies offer, especially the ones that make cold calls.

    You can try listing your mom's property in TUG's Bargain Deals section saying that you want to give it away to a willing taker.
     
  6. Curious.tugbbs

    Curious.tugbbs Guest

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    Hi LannyPC,

    Based on your comment, we believe you can help us.
    We did a Google search and found a company (e.g. ABC Ltd) to buy our VVP TS.
    They said they had no clients looking to buy at VVP but referred us to another company (e.g. XYZ Ltd).
    XYZ Ltd says they can buy our TS and quoted an approximate sum.

    Now that we read your post, we wonder if this is a scam and what will the scam look like?
    Please share any tips on what to look out for!
     
  7. RX8

    RX8 TUG Member

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    Unfortunately, this is very likely a scam. What are the exact names of these companies? With that we can better determine if it is a scam.

    The usual "we have a buyer for your timeshare" scam begins with the scammer starting a new website and name.

    This is the SCAMMER GAMEPLAN:
    1. Create a fake name by throwing the following names in a hat and pulling out any three - International, Management, Property, Travel, Access, Luxury, Network, Services, Solutions, Global, Getaway, World, Marketing, Equity, Consultants, Group, Acquisition. For example, a new name could be Global Property Consultants or International Management Services or Equity Acquisition Group.
    2. Create the website that goes with the new fake name. Add fake reviews. Add verbiage from legit websites so you sound sophisticated.
    3. Search the internet for a business office building in any city. Be vague such as leaving out a suite number. Add your new address to your website.
    4. Create an internet phone number using the prefix in your selected city and add to your website.
    5. Obtain a timeshare owner list, may need to bribe a resort employee
    6. COLD call the timeshare owners and promise big bucks because you have a buyer or renter for their timeshare.
    7. Convince the timeshare owner that they need to wire funds to release their big check. Tell the owner the wired money will be refunded at closing.
    8. When the timeshare owner wires the money, call them again and tell them they need to wire more money. Keep doing this until they don’t wire anymore.
    9. Stop responding to the angry scammed timeshare owner.
    10. Keep calling other timeshare owners
    11. When the word gets out that you are a scammer and the heat is too much, go back and start at step one again.
    How to sell your timeshare and avoid getting scammed:
    https://tugbbs.com/forums/index.php...-your-timeshare-and-avoid-getting-scammed.44/
     
    Last edited: May 30, 2019
  8. Curious.tugbbs

    Curious.tugbbs Guest

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    Hi RX8, thanks for these details.
    The XYZ Ltd company is called "Sell My Timeshare Now".
    https://www.sellmytimesharenow.com/
    The numbers they called from are 855-587-6149 or 855-572-4686.
     
  9. RX8

    RX8 TUG Member

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    Sell My Timeshare Now (SMTN) has been around for awhile (since 2003). I wouldn't call them a scam but in my opinion they border on it. You indicated that they told you that they would buy your timeshare and quoted you a price. If they did that then they are lying. They do not purchase timeshares. They provide a "service" in which owners pay them a large upfront fee in return for listing their timeshare on their website. The price they quoted was probably the price that they were going to suggest to list for on their website. I would guess that what they told you was thousands of dollars which makes it an unrealistic price that no one would pay. They encourage high listing prices so that sellers won't balk at their upfront fee. Once they have your upfront fee they could care less if it ever sells because they already got paid.

    You can review your timeshare on eBay (filter for completed or sold). There is one that is an EOY 2B that is already enrolled in RCI points that sold for a $1 and had all closing fees paid for by the seller. If yours isn't enrolled in RCI points then yours would be worth even less than that. I looked up this resort at SMTN and there must be a few hundred listings of this resort for sale. I gave up scrolling because they just kept coming. I saw a few for $1 to a high of $47,500, most were well into the thousands of dollars, all for something you can get for free elsewhere. Even the $1 won't be a bargain because I read elsewhere that SMTN charges huge mandatory closing fees.

    A couple of threads on SMTN:
    https://tugbbs.com/forums/index.php...l-your-timeshare-for-you.281361/#post-2208555

    https://tugbbs.com/forums/index.php?threads/interested-in-buying-a-week-on-smtn.270634/#post-2170327

    Lots of complaints on the BBB:
    https://www.bbb.org/us/nh/portsmout...my-timeshare-now-llc-0051-92008632/complaints

    SMTN marketers will say anything to get that upfront fee from people. Some highlights from a few of the 109 complaints at the BBB:
    • ..."he estimated it would sell within 6-12 months."
    • ..."was promised that if I listed my timeshare for sale on their site, it would sell fast"
    • "Guaranteed me it would sell in 3-6 months"
    • "THEY WOULD SELL IT WITHIN 12-24 MONTHS"
    • "I was promised that my timeshare would be sold within 3-6 months."
    • ..."promised it would sell very quickly. "
    • ..."if I spent 1000 dollars that they would be able to sell my time share quickly."
    • "SMTN.com helped me set a price for my timeshare and said they have sold several for the price range of $26,000 for Diamond properties and assured us it would be a quick sale."
    SMTN charges huge listing fees to sellers regardless of the true worth of their timeshare and they charge potential buyers huge closing fees if someone just happened to be interested in a timeshare. Sounds like a lose-lose proposition for the seller-buyer. The only winner is SMTN.
     
    Last edited: May 30, 2019
  10. dgalati

    dgalati TUG Member

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    See if Vacation Village will take it back if not they may have a preferred seller or broker they can Recommend. I actually have used Wyndham's preferred reseller or broker with better results then giving back to Wyndham through Ovations.
     
  11. Curious.tugbbs

    Curious.tugbbs Guest

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    Whoa! Thanks again, RX8.
     
  12. Jan M.

    Jan M. TUG Member

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    RCI Grandview Las Vegas and Discovery Beach
    Yes you could transfer the RCI account to someone else. The MTA, membership transfer application, form is available on the RCI website and the fee is $98 to do that. You could transfer what was deposited, the TPUs, trading power units, to the new owner or you could keep both the account and the TPUs and use them for yourselves. Then cancel the account when they've been used.

    All two bedroom units at VV at Pkwy are two bedroom lock off units. Meaning two one bedroom units, A and B, connected by a locking door. When deposited separately they get the owner more TPUs, trading power units.

    She owns week 32. I believe float means that could be in any A/B unit, not a specific unit number.

    Her week at VV at Pkwy might not rent for enough to cover the maintenance fees. There are often cheap rentals you would have to compete with. Week 32 is the second week of August. A lot of schools, sports practices and band practices have started back by then so that isn't a high demand week. Even a week earlier would be much better week for more people.

    Many of us here on TUG use LT Transfers and as of last Fall they were charging $215. The resort would have a transfer fee of $250 I believe is the correct amount. And there would be the RCI fee of $98 to transfer the account to a different person. I would think that having those 30 TPUs might get you a little something for her week more than just the closing and transfer costs.
     
    Curious.tugbbs likes this.

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