need some advice, tried selling, that didn't work. at a point now where we don't want timeshare any longer. we are willing to give it up. can this be done, if so, any suggestions on how to go about doing this.
I think the problem we see with most people wanting to get rid of their timeshare is unreal expectations. Most have listened to what the salesman told them and believed they were buying real estate that had real estate values. With timeshare that's about as far from the actual truth as you can get. Timeshares go DOWN in value as soon as you sign on the dotted line.
How have you tried to sell your timeshare in the past? Have you fallen for an upfront fee company that charges a listing fee, allows you to set a fee similar to what you paid for your timeshare and then doesn't do a thing to help you sell it other than list it on their website? Have you tried listing it on E-bay, Craigslist or Redweek and, if so, have you been asking a price similar to what you paid for the timeshare, a price in the thousands or a price in the hundreds?
If you own a timeshare that was developed by one of the major hotel groups, you'll probably get a better price but, as a general rule, you still won't get anywhere near what you paid. If you purchased from someone other than a major hotel chain you'll probably get even less.
As an example, we own Marroitt timeshare and timeshare for smaller non-hotel affiliated developers. If we sold both we'd still take a loss but, because Marriott has a consistant quality and benefits Marriott's tend to sell at higher prices, although still at a loss.
We paid $19,900 for our silver season Marriott Ocean Pointe week. I've been seeing them sell on the resale market in the neighborhood of $5,000 to $6,000 and that was BEFORE the credit implosion. We also own at a resort called Polo Towers in Las Vegas. The strip view 2 bedroom unit we own there cost us $14,900 back in 1999. If I were to sell it today, I've seen similar units sell between $100 and $500. I've seen some listed on E-bay that didn't even get a bid at $1.
If you've been expecting to sell your timeshare for anything near what you paid for it, you'll have to rethink the value of your resort week. It's probably not worth what you've been asking. If, on the other hand, you've been asking vey little for it, including giving it away, and still haven't been able to move it, then you may just be a victim of the times right now or, a salesman sold you the dream of the expensive timeshare week but sold you something that cost less money and delivered far less than the dream being sold. If that's the case you may have trouble even giving it away if it's a poor week at a poor resort that doesn't give the owner much in the way of value.