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Help! How do I unload my time share at Westin?

Bill 17

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Hi everyone,

I just put my timeshare up for sale here at TUG. I have tried to sell it in other places, and yes I pad them to do it; I have gotten nothing for this money I spent.

I paid $18k and have dropped the price down now to $7k. Am I destined to lose everything on this? I have the membership dues I have to pay in January.

Is it better to donate it, and how does that work?

Thanks for any advice.

Bill 17
 

DeniseM

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Hi Bill - Unfortunately, most timeshares resale for 0-5% of original retail.

In the Starwood system, the only timeshares that have much resale value are the mandatory resorts like the Maui resorts, Westin Kierland Villas, and a few others.

Unfortunately, Westin Desert Willow doesn't have any resale value, because when you resale it, it loses it's Staroptions. To be quite honest with you, you will probably have to give it away.

There are NO companies that will accept a timeshare donation for free - you have to pay them to take it off your hands.

We have forum on TUG that is designed to give away timeshares - here are all the details, but you will have to offer it for $0, and pay the transfer fee, which is about $150. Since the maintenance fee is due within 60 days, you will probably have to pay it as well, because even if you started the transfer process today, it will be due before you could complete a transfer. Throwing in the 2016 maintenance fee to make it more attractive is a good idea anyway.

How can I give away my timeshare on TUG: http://www.tugbbs.com/forums/showthread.php?t=132509
 
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TUGBrian

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tschwa2

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WDW is one of the few resorts that has ROFR. If you own a platinum week than it may be worth as much as $5000. Looking at what you paid, you may have an EOY 2 br platinum which may put it in the $2000-3000 range. Everything else is going to be worth $500 or less. There are some brokers that specialize in Starwood who would be able to give you an accurate figure. In all likelihood the news won't be good.
 

LannyPC

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I have tried to sell it in other places, and yes I pad them to do it; I have gotten nothing for this money I spent.

I paid $18k and have dropped the price down now to $7k.

Out of curiosity, what other places have you tried and how much did you pay them? Were they those crooks who call you out of the blue claiming they have buyers ready to pay you a lot of money?

As others have pointed out, your TS is worth way less than $7000 resale so if you have any ambitions of getting $7000 or more, you could be the victim of the infamous resales scam.
 

Fredm

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WDW is one of the few resorts that has ROFR. If you own a platinum week than it may be worth as much as $5000. Looking at what you paid, you may have an EOY 2 br platinum which may put it in the $2000-3000 range. Everything else is going to be worth $500 or less. There are some brokers that specialize in Starwood who would be able to give you an accurate figure. In all likelihood the news won't be good.

No ROFR at WDW.
ROFR at WMH and Hawaii resorts only.
 

tschwa2

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rickandcindy23

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I would never unload a timeshare I paid that much to own. You need to learn to use your Staroptions and travel with your timeshare. It's a great system. If you really cannot afford your maintenance fees, find someone in your family to use it in your stead. Just charge them the fees it cost you.

There are no easy answers for your dilemma, but honestly, I wish I owned a timeshare in the Starwood system with Staroptions. I have just been too cheap to do it.
 
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LisaH

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Unfortunately he owns an EOY low season unit according to his tug ad. The M/F does not justify the amount of SOs assigned for. As a result, you will be lucky to give it away for free. Very likely, you will need to prepay a year worth of M/F before someone will take it off your hands.
 

DeniseM

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Unfortunately he owns an EOY low season unit according to his tug ad. The M/F does not justify the amount of SOs assigned for. As a result, you will be lucky to give it away for free. Very likely, you will need to prepay a year worth of M/F before someone will take it off your hands.

The Staroptions will not transfer.
 
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decadude

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I would never unload a timeshare I paid that much to own. You need to learn to use your Staroptions and travel with your timeshare. It's a great system. If you really cannot afford your maintenance fees, find someone in your family to use it in your stead. Just charge them the fees it cost you.

There are no easy answers for your dilemma, but honestly, I wish I owned a timeshare in the Starwood system with Staroptions. I have just been too cheap to do it.

A+ advice here

You came to the right place I find more times often than not that owners of timeshares do not exactly know what they have, their benefits are, all options, etc

Not picking on you but really delve into your ownership and ask questions you definitely came to the right place there are far more knowledgeable people here than myself to help you.

Really learn about your timeshares program from what I hear the staroptions are really good.

:banana:
 

Bill 17

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thanks everyone

Thanks everyone for the replies.

Yes I bought this stupid thing and now realize that this was the biggest financial mistake of my life. Ugh

I want to give it up completely, and don't want anything to do with timeshare ever again. What about donating it to charity? I have heard that is an option.

Thanks again for listening to my rants.

Bill
 

DeniseM

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There are no legitimate charities that will accept a timeshare donation for free.

They are all for-profit companies who will charge you thousands of dollars to accept your timeshare.

Your best option is giving it away yourself.

Be sure you read this FAQ - you need to post it on the Bargain Deals Forum:

How can I give away my timeshare on TUG: http://www.tugbbs.com/forums/showthread.php?t=132509
 

Bill 17

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regarding my previous attempts

Yes I was ignorant and paid others to market my time share, which has come to nothing. I also was contacted by another one who wanted me to pay the admin fees, and I did. That never came through, and I ended up contact the Florida BBS who said the company had a number of complaints against them.

So I should have done more homework, first in buying this piece of garbage, and second in not checking into the background of the the people I paid to buy it.

Personally, I think the entire time share industry is a corrupt one and would advise anyone not to get involved.

Thanks for listening to my second rant.

Bill
 

DeniseM

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Bill - Everyone in this thread owns and enjoys timeshares. But, it's never a good value to buy from the developer.

If you still travel, you might want to hang around and learn how to use your timeshare - it has good vacation value.
 

Bill 17

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Hi Denise,

Thanks for the reply but I am so frustrated with this time share purchase of mine, that I just want to get rid of it.
And the yearly fee is absurd! I don't know what I was thinking of when I bought this thing.

Thanks

Bill
 

DeniseM

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The only way to get rid of it, is to give it away. Not sure that will make you feel any better.
 

Passepartout

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Bill, a poll was conducted here a year or so ago, asking where/how we all acquired our first timeshare. The results were almost exactly 50/50% developer purchases vs. resale. That is, HALF of us did exactly what you did. We saw value in the vacations and memories we'd be able to share with family and friends. That value still remains. It isn't 'sunk money' unless you give it away. As long as you own it, the ongoing cost for darn nice vacation resort facilities is manageable, isn't it?

We have all had to come to terms with the fact that timeshare is NOT an investment from a financial standpoint, but on a personal level, it can add enjoyment to your life. Think of it as a 2nd home where you get to go and enjoy a life apart from your every day life. Not everyone can have that luxury, and you've already done the hard part- paying for it. To give it away now is the foolish part.

All the best....

Jim
 

ekajun1957

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Bill, a poll was conducted here a year or so ago, asking where/how we all acquired our first timeshare. The results were almost exactly 50/50% developer purchases vs. resale. That is, HALF of us did exactly what you did. We saw value in the vacations and memories we'd be able to share with family and friends. That value still remains. It isn't 'sunk money' unless you give it away. As long as you own it, the ongoing cost for darn nice vacation resort facilities is manageable, isn't it?

We have all had to come to terms with the fact that timeshare is NOT an investment from a financial standpoint, but on a personal level, it can add enjoyment to your life. Think of it as a 2nd home where you get to go and enjoy a life apart from your every day life. Not everyone can have that luxury, and you've already done the hard part- paying for it. To give it away now is the foolish part.

All the best....

Jim

Look at what he is telling you and really put some time into somehow keeping it and making use and enjoying the time you get to vacation. I bought long ago before the resale market was very well known and then realized that what I had was not financially a very good thing. So I learned to use it even better and made it an investment in me and my family. I will never get my money back but can say I am now ahead because of how much I use it.
 

TUGBrian

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Sadly this industry is indeed not much more than a minefield, and you appear to have stepped on a number of them along your journey sofar.

I wish you the best in your future endeavors, it appears that all of your options have been explained to you...despite many of them being things you dont want to hear.

I wish we had better news for you!
 

icydog

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It's not that hard to rent out timeshares... Most probably you'll get your Maintenance fees back.. You can do that until you want to travel yourselves.

Even though you've had a series of setbacks you can still use your property for lovely family vacations. I wish you the best of luck!
 

Bill 17

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Hi Jim,

Thanks for the reply, but I am so frustrated with this timeshare and the entire time share industry that I just want to get rid of it. Purchasing this thing has been the biggest financial mistake of my life.

Every time I pay the maintenance fees, I get irritated; I just can't help it.

Bill
 

Ron98GT

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Since it's a Westin TS, what about exchanging EOY for something desirable, like Hawaii or St John. The OP could then try renting it out to try recouping the MF's and maybe make a few bucks? If the the MF's can't be recouped, then it's time to either give it away ASAP to avoid 2016 MF's or use it for some nice vacations.
 

DavidnRobin

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Since it's a Westin TS, what about exchanging EOY for something desirable, like Hawaii or St John. The OP could then try renting it out to try recouping the MF's and maybe make a few bucks? If the the MF's can't be recouped, then it's time to either give it away ASAP to avoid 2016 MF's or use it for some nice vacations.

Per SVO/SVN CCRs-Owners Manual - only HomeResort weeks can be rented.
This thread should be in the SVO Forum.
 
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