Have no idea what our TS is worth

[nannylori]

We've owned Coral Sands in Hilton Head for about 15 years, probably longer (don't have the paperwork in front of me right now). It is a three bedroom, two bath. It is across the street from Coligny Plaza and beach. I'm 71 and hubby will be 81 on Halloween. We don't want to be those seniors who get taken advantage of. We used it every other year for reunions with children/grandchildren in NC. Everyone is now older and onto their own lives, so we don't know if we should hold onto it and rent it , if we can get enough to make it worth it, or sell it outright. It's not on specific weeks , just points. This is the only place we know of to get an unbiased opinion/advice. Who do we talk to, to get a number, of what it is worth to sell or what we can get for it as a rental? All advice is appreciated. Thank-you!

 

[jp10558]

I think it's basically down to ebay sales prices maybe? I'm going to guess being not part of the major hotel chains, it's probably not worth anything. Maybe you could get someone to cover closing costs, but not being a fixed week means it might be hard to book during the desirable weeks (IDK about this for sure). Probably the best possibility would be to go there or see if there's online any groups of owners there and if there are any who would like to add a week / points.

If you just want to get rid of the MF, you could list it in the free timeshare forum here. Someone might take it over.

Renting as a normal course of action can be an issue - make sure you're allowed to rent out the week - points often aren't allowed - but IDK what system it is in. Depending on the week booked, I would expect the rent you might get would vary wildly.

 

[CalGalTraveler]

Welcome to TUG. Unless you plan to use it, or there is significant rental profit (review Redweek, TUG and EBay for listings) why keep it? Renting to cover MF is not worth the effort IMO unless you cannot give it away.

You can check for ads on Redweek to check value but if the listing is more than 3 months old, they are Hail Mary prices and it won't sell for that price or anything near it. Check the "sold" listings on Redweek and Ebay to get a better idea of value.

Check with the HOA to see if they can resell or take deedbacks. Otherwise try to give away on TUG.

 

[nannylori]

I think it's basically down to ebay sales prices maybe? I'm going to guess being not part of the major hotel chains, it's probably not worth anything. Maybe you could get someone to cover closing costs, but not being a fixed week means it might be hard to book during the desirable weeks (IDK about this for sure). Probably the best possibility would be to go there or see if there's online any groups of owners there and if there are any who would like to add a week / points.

If you just want to get rid of the MF, you could list it in the free timeshare forum here. Someone might take it over.

Renting as a normal course of action can be an issue - make sure you're allowed to rent out the week - points often aren't allowed - but IDK what system it is in. Depending on the week booked, I would expect the rent you might get would vary wildly.

Thank you!! For normal real estate ,it's considered a prime area, where most people want to be, so we thought that would add to it being popular, but,who knows. We have 7,000 points a year, which can be used anytime of the year. The points can also be used through RCI . It's gone through several companies.now with Palmyra. They said no problem if we wanted to rent.

 

[nannylori]

Welcome to TUG. Unless you plan to use it, or there is significant rental profit (review Redweek, TUG and EBay for listings) why keep it? Renting to cover MF is not work the effort IMO unless you cannot give it away.

You can check for ads on Redweek to check value but if the listing is more than 3 months old, they are Hail Mary prices and it won't sell for that price or anything near it. Check the "sold" listings on Redweek and Ebay to get a better idea of value.

Check with the HOA to see if they can resell or take deedbacks. Otherwise try to give away on TUG.

Thank you!! Never heard of Redweek. Will check there to see if there's any profit from renting. Thanks!

 

[chapjim]

What are the maintenance fees? Do you have a points chart -- something that shows what 7,000 points can do?

Redweek.com has one rental listing -- 3BR for $107/night. Also, one for sale listing but it's for an every third year contract.

 

[SmithOp]

I see a listing for a 3 bedroom here in TUG Marketplace.

TUG Timeshare Marketplace Search Results - Coral Sands Resort (Hilton Head) For Sale

TUG Timeshare Marketplace Search, Coral Sands Resort (Hilton Head), For Sale

tug2.com

 

[HudsHut]

Someone posted a biennial week as a free timeshare on Facebook nearly 3 years ago:

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Ask the Management Company or HOA contact if they have a list of owners who might want to take on another week for free.

With your points, what weeks can you reserve? In other words, is 7700 points enough to reserve a prime summer week? or are you limited to shoulder season or off-season weeks.

(I'm not interested - I'm just helping you find the info that you'll need to post an informative ad.)

 

[jp10558]

Yea, the others were kind of going for what I was hinting at here - it's probably going to not be worth much if anything to sell. Somebody who wants to stay there every year, if the MFs are low, or if the points can do something, might be interested, but OTOH, for many people there's weeks in HHI off the beach like that, at Coral Sands or Port O Call etc, for between $650 a week to $1,800 a week in RCI Extra Vacations depending on time of year. So if the MFs are close to that (for the time of year) it'll be hard to impossible to give away unless it is a prime week when there's no other way to get in.

 

[montygz]

Your unit appears less than worthless. I would start by seeing if the developer has some kind of deedback program.

In the eBay completed listings, three Palmera Vacation Club properties have sold for $1.

The seller paid all fees and closing costs totaling $1,850. And the seller offered a $200 cash bonus to the buyer. These units were for 6,050 annual points.

I see one active Coral Sands listing on eBay for $1, only in this one the cash bonus is $1,000. That listing states 64,000 BIENNIAL RCI PTS. There are no bids and the buy-it-now is for $1.30.

The resort may have some kind of rental program to help you defray the costs. You could try to rent yourself, but it likely won't cover the maintenance fees. Plus you will have to learn how list it, deal with customer service, etc.

Or it might be better just to default.

Whatever you do, beware of timeshare exit companies that claim they can get rid of your unit. Those are scams. Get your info from this forum, as many have walked in your shoes.

 

[nannylori]

What are the maintenance fees? Do you have a points chart -- something that shows what 7,000 points can do?

Redweek.com has one rental listing -- 3BR for $107/night. Also, one for sale listing but it's for an every third year contract.

Maintenance fees are $1300 every year. You can get up to a three bedroom for a week every year at Coral Sands. As they are also RCI points,you can use them for any RCI resort. As it's across the street from the most desirable tourist area on HHI,$107 seems very low...

 

[nannylori]

Your unit appears less than worthless. I would start by seeing if the developer has some kind of deedback program.

In the eBay completed listings, three Palmera Vacation Club properties have sold for $1.

The seller paid all fees and closing costs totaling $1,850. And the seller offered a $200 cash bonus to the buyer. These units were for 6,050 annual points.

I see one active Coral Sands listing on eBay for $1, only in this one the cash bonus is $1,000. That listing states 64,000 BIENNIAL RCI PTS. There are no bids and the buy-it-now is for $1.30.

The resort may have some kind of rental program to help you defray the costs. You could try to rent yourself, but it likely won't cover the maintenance fees. Plus you will have to learn how list it, deal with customer service, etc.

Or it might be better just to default.

Whatever you do, beware of timeshare exit companies that claim they can get rid of your unit. Those are scams. Get your info from this forum, as many have walked in your shoes.

It was paid off long ago. We definitely got our money's worth,so, maybe, going back to the company to see what they offer,could be the best option. HHI is a very expensive place to stay on vacation. Palmera might want it back. I printed out all answers. I can't thank-you enough for your time in replying!

 

[nannylori]

Someone posted a biennial week as a free timeshare on Facebook nearly 3 years ago:

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Ask the Management Company or HOA contact if they have a list of owners who might want to take on another week for free.

With your points, what weeks can you reserve? In other words, is 7700 points enough to reserve a prime summer week? or are you limited to shoulder season or off-season weeks.

(I'm not interested - I'm just helping you find the info that you'll need to post an informative ad.)

All weeks are available to us. They prefer we reserve 6 months in advance for three bedrooms during the summer. But we are not shut out of any weeks .

 

[HudsHut]

@nannylori
Since you are allowed to reserve any week, you should have 4th of July (or any other prime summer week) reserved RIGHT NOW. A prime summer week has good rental potential, and you might exceed your maintenance fees. It would also sweeten the deal to get someone to take/buy the week.