Dumping/Repurposing Vacation Village at Parkway

[F1or1da1]

It‘s time for me & VV@Parkway to part ways. Several years ago there were as many listings in the classifieds here to give away as there are now. Looking for info/advice for a successful exit strategy, I come up empty.
A few years ago I saw a line for bad debt in the annual budget which exceeded $3 million. Last year I didn’t receive a copy of the budget but expect the line, which I had ignored, has been there for several, if not more years, It seems to me that VV was great at selling knowing those who pay their maintenance fees and haven’t defaulted will blindly cover the cost of those who don’t.
It seems that I’m about to default unless someone wants the week unless someone has a better solution.

 

[DeniseM]

Here you go: How can I give my timeshare away on TUG

 

[TheTimeTraveler]

You should post this week in the Free Timeshare Giveaway Forum.

Include all details such as 2023 Maintenance Costs, size of unit, when first use will begin, and who pays the closing costs.





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[bnoble]

Also whether it has been converted to Points, and if not which week(s) it is for.

 

[TUGBrian]

have you tried to give it away for free or contact the resort to see if they would allow a a deedback?

both of those are perfectly legitimate and successful options to try prior to defaulting and have been suggested for years here on TUG!

 

[Carolinian]

I remember when we had an RCI employee who used to post on TUG under the screen name Bootleg. Orlando was one of four areas where he repeatedly told us RCI had more supply than demand, and when asked about the resort in the RCI system with the biggest excess of supply over demand, it was VV at Parkway. That said, I remember also that RCI handed the developer at VV at Parkway some really high RCI Points numbers, so perhaps that gives it some value.

Isn't VV at Parkway still controlled by the developer? Developer-controlled resorts seem to be the worst about accepting deedbacks, but it is always worth a try.

 

[F1or1da1]

I was/am hoping someone would post their experience with VV@Pkwy. Someone must have tried any or all means to get rid of their week/points.
Last time I was there it seemed there were loads of people checking in on a 3 day/2 night stay and the piranhas were all drooling in the lobby as the phony “concierges” signed them up for the presentations. I asked a few mature looking couples if they might be interested in buying my week for closing costs. Sadly, they said no and headed into death valley.

 

[DeniseM]

Most timeshares have no resale value - your best bet is to give it away.

 

[TUGBrian]

I was/am hoping someone would post their experience with VV@Pkwy. Someone must have tried any or all means to get rid of their week/points.
Last time I was there it seemed there were loads of people checking in on a 3 day/2 night stay and the piranhas were all drooling in the lobby as the phony “concierges” signed them up for the presentations. I asked a few mature looking couples if they might be interested in buying my week for closing costs. Sadly, they said no and headed into death valley.

it was the 2nd most "sold" timeshare on TUG last year, so im not sure why you think its impossible to find a new owner.

do not see any posted resales in the marketplace under this membership, you have to at least make the effort to try!

 

[F1or1da1]

I have been aware of their worthlessness for years. Given the number of them listed at VV@Pkwy with no takers, I’d say you can’t pay someone to take one with an annual maintenance fee over $1k. Then there are all the owners who aren’t listing on TUG who are also funding this sinking ship, thus the $3million + bad debt in the annual budgets.
Perhaps the solution is for owners who want out to stop paying as a group to see just how much VV is willing to pay lawyers and collection agencies to pursue us.

 

[F1or1da1]

it was the 2nd most "sold" timeshare on TUG last year, so im not sure why you think its impossible to find a new owner.

do not see any posted resales in the marketplace under this membership, you have to at least make the effort to try!

Any idea what the average sale price was? All I see is giveaway and closing costs paid.

 

[TUGBrian]

so whats wrong with offering it for free and giving it away? why are you so against even trying or making that effort in the past 5 years?

while walking away is certainly an option, doing so as a first step is unnecessary and does nothing but hurt other owners.

no doubt you yourself have paid more in maintenance fees over the past 5 years for folks who made that same decision!

 

[callwill]

Any idea what the average sale price was? All I see is giveaway and closing costs paid.

You talk like its worthlessness but expect someone to pay you for it. Your own observation reveals that the retail market for these is created by those that you refereed to as piranhas and that the only way to rid oneself of it is "giveaway and closing costs paid".

 

[montygz]

Any idea what the average sale price was? All I see is giveaway and closing costs paid.

The average price of Parkway is free with closing costs paid by the seller.

Some timeshares you pay for when you acquire them. Some timeshares you pay for when you are getting rid of them.

For example, you acquire Parkway "for free" because the previous owner paid the closing costs on the deal.

Now, when you want to unload Parkway, you pay the $500 in closing costs to move it along.

Thus, the cost of acquiring Parkway is always $500, you just sometimes pay at the start and sometimes at the end.

Of course, you don't want to be customer No. 1, acquiring it from the developer. That will be a more bitter pill to swallow, but it's water under the bridge, a sunk cost. You just want to get out from under those annual maintenance fees.