Getting timeshare through estate

[CherylC]

I have the opportunity to pick up a ski week at Copper Mountain Village Square but need to determine the value of the week for the estate. A realtor in Frisco said the estate could get $12K/week if it had a few years to find a buyer. (I do not believe anyone would pay 12K for a weekly timeshare at Village SQ, but if you know someone, please message me.) My relative offered the week to me for $2500. I should have quitclaimed the weeks then because now it involves lawyers and ~ $1800 to process it to the estate. I have reviewed 3 years of Village Sq statements for the week and it barely pays for itself in the rental pool, so it is not a good investment as a rental property, at least not if renting through Copper managment.

All that to ask, what would be a fair offer for a non-spring break week that includes a Monday holiday?

Thank you for your comments.

 

[sjsharkie]

Your description is way too vague to be able to ascertain a price. You said "ski week" and Monday holiday, so I assume that narrows it down to MLK Day or Presidents Day. MLK Day week has less value IMHO than Presidents Day because many schools take the whole week off for Presidents Day, thus more demand. Also, not sure what size is the unit and what it sleeps -- there is a big difference between a studio and 2BR unit for example.

You are doing the right thing to research first. Normally, management renting the place takes a big chunk of fees, so if you are covering mfs through the management rental, this usually does indicate that it likely has value and you can rent it out yourself at a premium. YMMV.

I'm not familiar with the property, so others that have been there probably can be more helpful. I did check Redweek for you but there are no listings as of now at that property to reference. Good luck!

-ryan

 

[CherylC]

MLK week. 2 bedrooms, (one king, one queen) 2 baths, a full kitchen with all amenities and appliances; living room; dining area; gas fireplace; three TVs, enclosed sunroom with mountain views, located in the center village, <5min walk to the gondola, ice skating, resort restaurants, and shopping, Free underground parking, and internet. Onsite hot tub, paid laundry, lockers, elevator. Complimentary access to Copper Health Club. On the bus route for Summit Stage.

 

[nanook75]

CherylC, I know it has been a while for this post, did you get that unit closed? I am familiar with those units and may be of some level of assistance.