Selling our Timeshare

[Werchan]

Does anyone know a legitimate company that we could use to sell our timeshare?

 

[DeniseM]

Hi and welcome to TUG!

There are legitimate timeshare brokers out there, but like a realtor, they make a commission AFTER the sale - usually starting at about $1,000. Unfortunately, in this market, most timeshares won't even sell for $1,000 on the resale market. Unless you own Marriott, Starwood, Hyatt, Disney, Hilton, or one of the other top brands, you probably fall in that category.

Also - if you have a mortgage on it, in most cases, you have to pay off the mortgage to sell it, because the amount you owe is probably more than the resale value.

How to sell your timeshare yourself: http://tugbbs.com/forums/showthread.php?t=44

Now that you have posted on TUG, you are very likely to get emails from people who want to sell your timeshare for you - some of them will be scammers! Here is the sniff text: IF THERE IS ANY UPFRONT FEE OF ANY KIND, NO MATTER WHAT THEY CALL IT - DON'T DO IT!

 

[timeos2]

There are some good ones but they tend to be for specific resorts (specialized) rather than general outlets for any resort. Ask your resort if they recommend one. If not you may be better served doing it yourself here on TUG or one of the many inexpensive sites like Redweek and eBay. NEVER pay anyone up front to sell (maybe a $25-75 listing fee but no more!).

Remember too that you must price it right, make it sound attractive and forget what you paid retail. Good luck.

 

[SmithOp]

There are two that frequent Tug and are recommended.

Judy Kozlowski
http://judikoz.com/

Seth Nock
http://www.sellingtimeshares.net/

 

[csxjohn]

Does anyone know a legitimate company that we could use to sell our timeshare?

Without giving any details could you tell us which resort you own. We might be better able to steer you in the right direction.

Don't give any other details other than the name or it would be deleted as inappropriate for this forum.

The reason I suggest this is because some resorts have better places to try to sell than others.

 

[Ann]

Sold thru Redfweek

Wercan -- I just sold my timeshare through Redweek, you can sign up for the closing agent as well. I don't recall the exact amount of fees, but it was around $425.

I did want to sell my TS and priced it very low, and it sold very quickly. Someone pricing their TS at a high price might have a different experience. Redweek's closing agent was very professional, and I definitely recommend them.

 

[csxjohn]

Wercan -- I just sold my timeshare through Redweek, you can sign up for the closing agent as well. I don't recall the exact amount of fees, but it was around $425.

I did want to sell my TS and priced it very low, and it sold very quickly. Someone pricing their TS at a high price might have a different experience. Redweek's closing agent was very professional, and I definitely recommend them.

This is very important. I was just doing a search for prices on a resort that someone is going to get rid of and I found prices ranging from $400 with all fees paid and 2013 use to over $10,000.

It's like pricing items for a garage sale. Do you want it to sell or do you want to pack it up at the end of the day and try again another time?:hysterical:

 

[PJTSytms97]

Time Share Sales

My husband and I have been trying to sell our two timeshares for the past several years. We have spent a few thousand dollars. I am hoping the we have found some assistance from an organization called Donateforacause.com. They have two different programs. Both call for processing/closing/transfer costs, but they guarantee that the deeds/certificate of usage will be taken out of our names. We are still checking them out, as we have been scammed before, but
I am hopeful that this will be an answer for us. If we decide to use this venue, I
will submit a post as to either the success or failure of this venture.
Good Luck to both of us.

If any one has used Donateforacause.org, please let the community know how it worked for you.

 

[timeos2]

With Donate for a Cause you will be PAYING 2-3k more. And do not believe what they may try to tell you is a way to deduct it on taxes as a contribution. It is not & you could end up with tax problems too. Just give it away - safer & cheaper than any of these types of operations. You already wasted way too much.

 

[DeniseM]

Most "charities" that accept timeshares these days are actually companies that have been set up to make a nice profit off the transaction fees - not true charities. They will usually charge you hundreds or thousands of dollars to "take your timeshare off your hands" - they won't take it for free, because they are making a profit off the fees.

The worst of these companies are just scammers:

-Some collect the upfront fees, but never actually take the timeshare out of your name, so you lose the money, but still own the timeshare.

-Some promise a high (illegal) tax right off that can get you in trouble with the IRS if you are audited.

-Some are "Viking Ship LLC's" that take the deed off your hands, but then register it to a LLC, bankrupt the LLC, and abandon the deed - making it difficult for your resort and the remaining owners to recover the deed.

Please consider giving your timeshare away to a private individual who would like to own it, before you spend a cent with a company like this.

Why?
-You can give it away yourself for nearly no cost.
-You can control the transfer process to make sure it is truly transferred out of your name.
-You won't have to deal with companies that may or may not be Legit.
-You can transfer it to a private individual who will be happy to have it for their own use.
-You will have the satisfaction of knowing that you ended your ownership legally and ethically.

There are TWO places on TUG where you can give away your TS's for free (no charge for the Ads.) THEY ARE COMPLETELY DIFFERENT - SO YOU SHOULD POST IN BOTH AREAS. There are other cheap and free sites on the internet, as well.

TUG Marketplace - the only cost is your TUG membership - $15 (List it for $1 and it will automatically go in the Bargain Basement Ads.)

Bargain Deals - Totally FREE! - just write a simple post with all the pertinent info. In your post, include the following info.:

-resort name
-unit size
-season owned
-maintenance fee
-current reservations​

To make it more attractive I would:

1) Pay the 2012/2013 maintenance fees and don't ask for reimbursement.

2) Pay for the title transfer (you can get a simple title transfer with no escrow or title search for about $100.) Many Tuggers (including me) have been using Legal Timeshare Transfers, a no frills document preparation company, and they are receiving good reviews on TUG.:

Legal Timeshare Transfers/Ready Legal
Lisa Short and Mary Pless
http://legaltimesharetransfers.com/
1.706.219.2709

3) Reserve a popular holiday week in 2012/13 for the new owner

4) Instead of paying a fee to a rescue company - consider offering a cash incentive to the new owner.

5) Here is the very important step that most people miss: Come back to TUG once a week and add more info. to your thread - this will bump it to the top of the page.​

Good luck!

 

[Werchan]

Selling my timeshare

Someone suggested I mention the name of the timeshare, that this might help someone recommend a particular company that could help me sell the time share. The time share is with Wyndham.

 

[ronparise]

Someone suggested I mention the name of the timeshare, that this might help someone recommend a particular company that could help me sell the time share. The time share is with Wyndham.

Angel England

http://www.resort-property.com/

 

[Rent_Share]

Do you still have a loan balance ?

The ultimate answer will not be any different than the one Denise posted, but as a new poster you are probably asking , "how can you tell me it's worthless when you don't even know what I have"

With narrow exceptions, Name Brands tend to hold their value with the exception of Wyndham, which IMHO could care less about resale value

 

[VegasBella]

Marriott, Starwood, Hyatt, Disney, Hilton, or one of the other top brands

Just curious... why are these top brands?

I feel like small, more independent timeshares that are well-run (property is maintained, fees are low) and in good locations may have just as much or more value than many of these top brand resorts in poor locations.

 

[Rent_Share]

Just curious... why are these top brands?

I feel like small, more independent timeshares that are well-run (property is maintained, fees are low) and in good locations may have just as much or more value than many of these top brand resorts in poor locations.

With the exception of certain choice dates/views the Brands mentioned are the only ones that command any resale value.

 

[DeniseM]

Just curious... why are these top brands?

I feel like small, more independent timeshares that are well-run (property is maintained, fees are low) and in good locations may have just as much or more value than many of these top brand resorts in poor locations.

Many people enjoy owning that type of property, but they simply don't hold their resale value the way the brand name timeshare resorts do.

 

[timeos2]

Just curious... why are these top brands?

I feel like small, more independent timeshares that are well-run (property is maintained, fees are low) and in good locations may have just as much or more value than many of these top brand resorts in poor locations.

Wise observation. We discovered long ago the tremendous value in independent, owner controlled resorts vs the overhyped/overpriced "names". It may be true that the amount of retail price vs resale is not as high but you do much better for dollar spent, especially at resale, risk less overall & don't pay an average 25 to 35% more for mandatory corporate overhead. Not to mention having a say in operations, the real potential for better than cookie cutter design and easily, with trading into or renting, staying at those name brands for far less than a ownership would cost.

Use your purchase choice wisely and get better at huge savings.

 

[bogey21]

Wise observation. We discovered long ago the tremendous value in independent, owner controlled resorts vs the overhyped/overpriced "names".

Agree.

George