[What's my Capital Resort timeshare worth?]

[scarlettcamreese]

I bought a timeshare with Capital Resort last September and i now want to get rid of it. I only owe $8,600 and i get about 40,000 points a year. If im not mistaken i think the Yearly dues with maintenance is about $663 that is due in October.

 

[Passepartout]

I bought a timeshare with Capital Resort last September and i now want to get rid of it. I only owe $8,600 and i get about 40,000 points a year. If im not mistaken i think the Yearly dues with maintenance is about $663 that is due in October.

I hate to be the bearer of bad news, but nobody will buy a TS that is not paid off in full, AND no resort will transfer ownership of an interval that isn't free and clear.

I'm not familiar with Capital Resorts, but a search of eBay under 'Completed Auctions' shows no sales. You had a 'cooling off' period of time after you signed that contract to back out (rescind) without penalty, Since you allowed that opportunity to expire, it becomes much more difficult to end.

The only way we are aware of is to buckle down, pay off the high interest note as soon as possible, then learn to use what you bought. You are in good company here on TUG. about half of us bought our first timeshares just like you did. Something in that presentation you attended showed you some value to you. The value in timeshares is in their use, and the memories they afford you and your family.

DO NOT sign up for one of those 'get you out of your timeshare' outfits! They are all scams that will take your money and you'll still have your timeshare. There are NO magic words that they have that will end your obligation.

We wish you well, and Good Luck.

Jim

 

[presley]

As posted above, you cannot sell until you pay it off. While it's a long shot, you may want to contact the place where you bought it and see if they have a resale program that will list it for you. Other than that, you are looking at paying it off and then probably giving it away as timeshares, especially obscure ones, have no resale value.

 

[rickandcindy23]

I know you have regrets about what you bought, but you may have to learn how to get the most value from what you bought. Impulsive purchases tend to be mistakes. Many here on TUG have made that mistake in the past. Learn how to use it and then take advantage of resales.

Timeshares are not a bad thing to own. I have no idea what you bought, however. Capital points? Never heard of it. Sounds fishy to me. More information would be better.

 

[Passepartout]

A little more research. Could this be 'Capital Resorts Vacation Club'? Scarlettcamrees, is it possible that what you bought into is a 'vacation club'? If so is it possible that what you bought is a 'Right to Use', with no deeded property, and that they simply issue a certain number of 'Points' that you are to use as currency to reserve time in their network of resorts? If this is the case, and there is no actual deeded ownership for them to foreclose on, there is a chance that you can simply resign. Tell them to suspend billing you, and cancel your 'membership'. In short, 'Pound Sand!' Close any account or credit card that they have access to, and move any assets to a different bank or credit card. It won't get back any of the money you've already paid, but might well stop the financial bleeding.

I may be off the mark here, but since no TUGgers know of this resort, it's an educated guess.

Jim

 

[rhonda]

A little more research. Could this be 'Capital Resorts Vacation Club'? Scarlettcamrees, is it possible that what you bought into is a 'vacation club'? If so is it possible that what you bought is a 'Right to Use', with no deeded property, and that they simply issue a certain number of 'Points' that you are to use as currency to reserve time in their network of resorts? If this is the case, and there is no actual deeded ownership for them to foreclose on, there is a chance that you can simply resign. Tell them to suspend billing you, and cancel your 'membership'. In short, 'Pound Sand!' Close any account or credit card that they have access to, and move any assets to a different bank or credit card. It won't get back any of the money you've already paid, but might well stop the financial bleeding.

I may be off the mark here, but since no TUGgers know of this resort, it's an educated guess.

Jim

If it is the Club you mention, The Abbott (NOLA) looks stunning! There are some interesting destinations in the mix ... could be fun to explore.

@scarlettcamreese : I hope you get to know the product you own and how to use it. Get busy making some reservations and enjoying the ownership!

 

[Panina]

Capital resorts has Main 84 in Kennebunk Maine in their portfolio. I have traded into it through II, one of my favorites.

From past posts I know there are a few tuggers who own Capital. I am sure they will chime in.

 

[Makai Guy]

Existing thread re Capital Resort Club (started in 2015 and continuing): https://tugbbs.com/forums/index.php?threads/.223285/

 

[tschwa2]

Unfortunately there is no resale value in Capital points and to make matters worse small packages are expensive and hard to use. Someone just the other day contacted Capital about taking back the deed. They were told it had to be paid off completely and then the fee would be one year of MF's plus $450. When you deed back I heard the process takes less than months. I don't think you would find a taker to accept a transfer for less than what Capital is asking and resale transfers take 8-13 months on average.

Your other option would be to stop paying. Tell them you don't plan on paying anything else but be aware there might be consequences for your credit as likely they will report any non payments.

 

[indianahome]

I purchased a timeshare in Branson, MO, back in 2012 with Grand Crowne Resort. In 2015 Crowne View Heights was managed by Capital Resorts. I want to get out of our timeshare commitment. Do you know if Capital Resorts has a deed-back program? I REALLY NEED SOME ADVICE!!!

 

[TheTimeTraveler]

I purchased a timeshare in Branson, MO, back in 2012 with Grand Crowne Resort. In 2015 Crowne View Heights was managed by Capital Resorts. I want to get out of our timeshare commitment. Do you know if Capital Resorts has a deed-back program? I REALLY NEED SOME ADVICE!!!

Why not contact Capital Resorts directly and see what they have to say?

Welcome to TUG.





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[TUGBrian]

http://capitalresortsgroup.com/vaca...l&utm_source=arda-landingpg&utm_campaign=arda