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Help selling my timeshare

kmb2282

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I've recently made the decision to sell my timeshare and was looking for some advice from anyone with experience doing so. I've made peace with the fact that I'm going to be lucky if I don't have to give it away, but I'd like to make sure I do this without losing any more money than necessary. How difficult is it handle the closing on my own? Is there someone I should hire? Is the Redweek fee of $125 plus commissions worth paying? Again, I'm very new to this so I apologize if these questions seem ridiculous. Some unexpected life changes have left me in a position I didn't see myself in when I bought the timeshare originally and I just need to get out. Any advice would be greatly appreciated.
 

vacationhopeful

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Do you have a loan that you are still paying on?

If you do ... it is impossible to sell or even give it away.

On Redweek ... are you a member? ... are there other weeks for sale there?

How about on the TUG Marketplace ... any weeks for sale there?

Does your resort have a Website for owners to advertise for sale or for rent units?
 

kmb2282

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Do you have a loan that you are still paying on?

If you do ... it is impossible to sell or even give it away.

On Redweek ... are you a member? ... are there other weeks for sale there?

How about on the TUG Marketplace ... any weeks for sale there?

Does your resort have a Website for owners to advertise for sale or for rent units?

The loan is paid off so that's not an issue. I haven't subscribed to anything as some of what I've read warned against paying fees. Like I said, I'm really just at the beginning stages. I've looked into listing the TUG marketplace, Redweek, and even Ebay, I'm just a little unsure about the closing.

I've contacted my resort and they are useless where this is concerned!
 

kmb2282

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Have you checked out this sticky at the top of this forum?

http://tugbbs.com/forums/showthread.php?t=44

Yes, I've ready this sticky. I think I'm pretty good with everything until I get to the closing. That's where I get a little nervous. My timeshare is at the Westin Lagunamar in Cancun. Do you know if that resale document kit would work for a timeshare not in the US? Or is it worth just paying a closing company? If so, do where I could find some recommendations?
 

vacationhopeful

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The loan is paid off so that's not an issue. I haven't subscribed to anything as some of what I've read warned against paying fees. Like I said, I'm really just at the beginning stages. I've looked into listing the TUG marketplace, Redweek, and even Ebay, I'm just a little unsure about the closing.

I've contacted my resort and they are useless where this is concerned!

LT Transfers from Georgia is used by many of us. They cost about $150-200 "for run of the mill closings" plus any fees the resorts want.

ADDED: I believe LT does ONLY USA located transfers.
 
Last edited:

taterhed

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I don't have first hand info, but did a quick TUG search. I came up with this:
http://www.tugbbs.com/forums/showthread.php?t=194840&page=4

My "closing" took place through Fidelity Title, the company Starwood said handles the transfers of the Westin Lagunamar property.


I think WLR may have a specific closing agent they use. Not sure about that, but you might pm margolism to get some clarity. The closing costs for that transaction were under $500

cheers.
 

T-Dot-Traveller

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Westin L - Cancun

There seems ( to me ) to be decent interest in this resort in part because it is not AI ( All inclusive) and is a nice well kept property .
These are my observations based on scanning ebay and some TUG threads
The season you own and unit size is important to know .

I would read your contract details and then scan ebay using the sold function to find similar unit sales .
ebay is not a perfect determination of value because it is a bit of a last call auction . It will however probably help you get a feel for pricing.
A TS resort location that sells for $49 but with 10 bids is a lot better than one that lists for $1 and no one bids.

Good luck
 

MuranoJo

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If your timeshare is RTU (right to use vs. deeded), you may not need a closing company at all. With most MX RTU contracts, you simply process transfer paperwork with the resort, and there are usually transfer fees involved.

I have no experience with Westin L, so you should contact them unless someone else knows.
 
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