Helping parents sell their timeshare - where to start?

[kenchi]

Hello-
I'm helping my (elderly) parents to try to sell (or give away) their timeshare.
I'm tech savvy, and have sold my home in the past by owner, so they wanted me to try to help. Only thing is I'm new to timeshares, and trying to read up on how to do this on my own.

They own a 2-bdrm at Boyne Mountain (Bluegreen Vacations) on Week 51, so I am told that is a popular skiing/vacation week, so not sure how easy/difficult this will be.

My main question is, I understand that I can post an advertisement on the TUG marketplace, but once I have an interested buyer, what are the next steps in paperwork?
Who usually pays the transfer fees?
Is there a step-by-step checklist available to know what paperwork needs to be done?

I saw Redweek has a DIY basic/verified/Full Service packages as well, and was wondering if this was worth looking into, or to stay away from.

Thanks for any help,
ken

 

[AwayWeGo]

For timeshare deed preparation & recording, once you & a buyer or giveaway recipient agree on terms, you can't do better than LT Transfers.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[Passepartout]

The parents' ownership will have to be paid in full, and in order to sell it in the TUG Marketplace, they (or you) would have to be paid TUG members ($15yr) or it can be listed free in the Bargain Deals subforum of the Buying, Selling, Renting forum. Just follow the basic outline of writing an ad and the price must be $500 or less. As stated above LLTransfers can handle the paperwork, and it's negotiable whether buyer or seller pays. There might be a way to transfer their ownership back to Bluegreen, but there is a charge for that and I'm not familiar enough to detail it.

JIm

 

[bnoble]

Who usually pays the transfer fees?

This is a matter for negotiation. If you are hoping to move this quickly, offering to give it away and pay the transfer costs is probably a good idea. You might be able to eke a few dollars out of it, but Boyne is not a ski destination that too many people outside Michigan and the immediate surroundings would visit. That's not a knock on Boyne, I like it a lot, but the skiing in the Lower Peninsula in general isn't something you'd travel very far to experience.

 

[kenchi]

@Passepartout - thanks for the info. Yes, I will try to list this in the Bargain Deals first.
@bnoble - thanks for your opinion and I agree with you. My parents are willing to give it away at this point.
@AwayWeGo - I've seen multiple recommendations for LTTransfers, and will likely use this. Thanks.

So once a buyer is found, do I just use LTTransfers to fill out the required information to handle document preparation +$175?
What's after that? I know there is a $500 transfer fee (that I will likely pay) on the Bluegreen member website for Fixed/Deeded Owner Title Transfer section.

 

[CO skier]

Hello-
I'm helping my (elderly) parents to try to sell (or give away) their timeshare.

They own a 2-bdrm at Boyne Mountain (Bluegreen Vacations) on Week 51, so I am told that is a popular skiing/vacation week, so not sure how easy/difficult this will be.

TUG to the rescue!

Try this first before paying anything to unload the timeshare:

Bluegreen Resorts deedback info - give your unwanted Bluegreen ownership back

Jan 2024 updates: More updates confirming the charge for surrender is 1.5x your annual maintenance fees. September 2023 updates: Multiple reports that Bluegreen is now charging 2x your annual maintenance fees to give back an ownership. We have also updated the TUG advice article on how to...

tugbbs.com

 

[kenchi]

TUG to the rescue!

Try this first before paying anything to unload the timeshare:

Bluegreen Resorts deedback info - give your unwanted Bluegreen ownership back

Jan 2024 updates: More updates confirming the charge for surrender is 1.5x your annual maintenance fees. September 2023 updates: Multiple reports that Bluegreen is now charging 2x your annual maintenance fees to give back an ownership. We have also updated the TUG advice article on how to...

tugbbs.com

Yes I ran across this thread, but only got to around post #40 before getting lost in the thread. Any tl;dr summary of what this deed back program (if it has been successful) while I try to read all 100 posts?


Sent from my iPhone using Tapatalk

 

[CO skier]

Yes I ran across this thread, but only got to around post #40 before getting lost in the thread. Any tl;dr summary of what this deed back program (if it has been successful) while I try to read all 100 posts?

You need to read only post #1 and call the number listed. Do not over think this. (Actually your parents as the owners will need to call, but you can be there to advise them.)

 

[Karen G]

Yes I ran across this thread, but only got to around post #40 before getting lost in the thread. Any tl;dr summary of what this deed back program (if it has been successful) while I try to read all 100 posts?


Sent from my iPhone using Tapatalk

There's a link in the very first post where you can contact Bluegreen directly for more information on their deedback program. Fill out the form shown and someone should contact you from Bluegreen who can answer your questions.

 

[kenchi]

Thanks for this information. I left a message to Bluegreen Vacations deedback program to get more information on this. Thanks everyone!

 

[Karen G]

Thanks for this information. I left a message to Bluegreen Vacations deedback program to get more information on this. Thanks everyone!

Let us know how it all works out.

 

[kenchi]

As of 5/27/2021 - still nothing sent to us from Bluegreen in the mail. They said information package should be sent within 2 weeks. More waiting...

 

[kenchi]

As of 6/14/2021 - contacted Bluegreen indicating that I still have not received anything in the mail from them regarding their Deedback program, and indicated that it has been almost 2 months.
They said they will "resend" the mailing. I have a feeling that we are getting the run-around here.

 

[easyrider]

As of 6/14/2021 - contacted Bluegreen indicating that I still have not received anything in the mail from them regarding their Deedback program, and indicated that it has been almost 2 months.
They said they will "resend" the mailing. I have a feeling that we are getting the run-around here.

Don't worry too much. If nothing else your parents could just stop paying the mf if they don't care about their credit score. My inlaws had a timeshare that no one wanted so we called to give it back. The timeshare said they didn't want it back. If they had taken it back it would have cost them less than what it did to foreclose after my inlaws had passed away.

No one in the family is obligated to take on the responsibility of ownership once the owner passes away.

Bill

 

[kenchi]

8/3/21 - update
After more than 4 months, and numerous calls/chats with Bluegreen, and them saying that Deedback information would be mailed to us several times (nothing ever came), they FINALLY emailed me a Deedback deed to be signed/notarized and mailed back to them within 30 days. Finally getting somewhere...

 

[bogey21]

Patience is a virtue...

George

 

[Obrienadventures]

If it falls thru, I’m interested!

 

[kenchi]

Just following up and closing this saga FINALLY.
After more than a year of back-and-forth emails and submitting our notarized deedback papers literally 3 times, our deedback back to Bluegreen is finally complete....!
Bluegreen representative was helpful and understood our frustrations, but the title company/county had been extremely slow in getting things signed.
The End.