Am I being ghosted because of lowball offer?

[Sugarcubesea]

When you make low-ball offers you should expect a low-ball success rate.

The low-ball strategy can work if you aren't picky, have plenty of patience and have no problem moving on to the next deal.

I make low ball offers on listings that are priced at $10K but are really only selling for $500 to $1K, I get that most folks that are not on TUG and purchased from the developer believe that their week is worth big bucks, but most of us in here are not going to over pay for a property. If a property is listed for close to marekt rate, I will offer offer just a tad below the asking price.

Recently I purchased a TS, that had been for sale for over 5+ years because it was overpriced and would never sell at that price and once the spouse died, the hubby sold it to me for market rate.

 

[CalGalTraveler]

Overpriced properties from uneducated sellers are a different matter.

A low-ball offer should have low-ball expectations for properties that have resale value. If a buyer cannot take the time to research the going market value (or ignores the going rate because they are playing a hail-mary game and wishing for a unicorn), why are they deserving of having the seller waste time for a response? Such buyers are not going to buy their property.

I had one buyer for my DIY resale that wasted a lot of my time asking general questions about the resort upfront. When this person finally made an offer it was for $500! I sold the VOI with multiple bidders for $6500.

Apparently this buyer was a lurker and infrequent poster on a FB TS group and TUG at times and got the impression that all TS properties could be bought for free and they should always low-ball. I was angry this nube wasted so much of my time on questions which could have been researched on public forums for a $500 offer. I spend more money on a trip to Costco...

 

[davidvel]

So Redweek did get back to me to say they had a higher offer. I have increased my bid but will likely have to let this one go. Problem is I own here and the room is probably the best one in the resort.

Redweek certified slow service.

 

[Fido Chuckwagon]

Searching eBay for SOLD listings is also a reasonable source of market information.

I think this is the gold standard for figuring out the true value of a given timeshare.

 

[CalGalTraveler]

IMO...If brokers like Judi K, Sayed, Diane Nadeau and others would update ROFR or provide their own benchmarks from actual sales figures I would expect the average to be higher than eBay and current ROFR.

Some buyers are leery of getting scammed and are happy to pay a premium to a broker because it is still a fraction of retail. Sadly most of the upside for sellers on this higher price goes to brokers and processing fees. But they do handhold nervous buyers and answer their questions so perhaps the commission is earned. Also on higher priced deeds such as Oceanfront Maui, Ski Season the buyer might expect a broker. IDK.

I sold DIY Redweek using LT Transfers and pocketed the broker and their processing commission of $750 - $2000. But I had a property which has resale demand and value. When using a trusted escrow third party like LT there is little/same risk as using a broker.

 

[jp10558]

For HGVC I always feel like (at least for points is points valuations) the upper price should be the Scotland Craig Lodges properties listed price on the site. I don't see much HGVC on ebay. For Wyndham I guess I'd use eBay as the going rate. Same for Worldmark.

 

[Tacoma]

This is a small timeshare I doubt there would be many sold on eBay.

 

[Tacoma]

Well after I increased my bid I was the highest bidder but still under the asking price. Redweek did get back to me that the owner had decided not to sell the timeshare.