Hilton Elara Deed Back?

[nolagirl]

I am seeking advice about how to get rid of our Hilton Elara timeshare. We have paid off the purchase in full and are up-to-date with maintenance fees.

The timeshare is with HGVC at the Hilton Elara, and it's a Gold Studio.

We asked Hilton to put it on the resale market for $900 after they told us it was $1000-$1200 in value, but so far we have not received any offers and after doing more research, my sense is that our listing is overpriced.

We are actually happy to give the timeshare away, we're just not sure the best options to pursue. Does anyone know how to seek a deed back (for free) with HGVC at the Elara? Should we contact HGVC, or the actual HOA directly? If Hilton, should we speak to the resale department or a different department?

Thanks.

 

[TUGBrian]

would start with this article here, it should give you some tips to get started:

http://www.tug2.net/timeshare_advice/timeshare_abandonment.html


Welcome to TUG!

 

[presley]

Chances are that someone will take it from you if you offer it up for free here.

 

[nolagirl]

Thank you for the helpful link. I am interested to know if anyone has had success with a deedback at the Elara and whether they contacted HGVC or the HOA directly?

I'm also interested whether people think that $900 for a Gold Studio (1600 points) is overpriced and unlikely to sell on the resale market.

We are definitely interested in trying to give it away on TUG but our contract with Hilton Resale includes the following:

"Exclusive Net Listing Agreement: Seller, by executing this Net Listing Agreement, hereby grants Broker the exclusive right, commencing on date noted above and expiring on the Expiration Date noted above, to sell one or all of the Timeshare Interval(s) listed on Exhibit “A” attached hereto, and incorporated herein by reference. The Seller in writing may extend this Listing Agreement, provided that the maintenance fee(s) are paid and current."

I have put in a call to them, but I suspect this means we cannot try to sell it ourselves when we have an ongoing resale contract with them? In which case we'd need to decide whether we're better off going it alone than getting Hilton's help in reselling. Thoughts?

Thank you.

 

[TUGBrian]

eh, they might also charge a hefty % or fee to list it...if you just want out youd likely be better off offering it here for free...i doubt youd have a problem finding someone to take it if you truly are offering it as a giveaway.

 

[nolagirl]

Thank you, very helpful. It's tough to figure out the real value of the timeshare and whether it's at all desirable - even as a give away. This makes me feel more confident about proceeding without Hilton.

 

[TUGBrian]

should probably ask what they charge to sell on your behalf...might change your mind about listening to what they claim they can get for your timeshare =)

theres a 2br 1-52 eoy float that isnt even getting a single bid offered at 499 on ebay right now.

good luck with the sale!

 

[SmithOp]

I think the only people successful at deedbacks have to stop making all payments and force it into foreclosure first, then offer the deed in lieu.
I don't see any reason why you can't advertise yourself and direct potential buyers to the resale agent with that agreement you signed.

 

[Talent312]

You could ask Judi Kozlowski (www.judikoz.com) or Seth Nock (www.sellingtimeshares.net) - brokers who specialize in HGVC - what they think... They'll prolly say there's no interest in such a low-point package.

Your best solution may be to call HGVC and tell them you want to offer a deed-back in lieu of foreclosure, as if they don't take it back, that's what will have to happen.

.

 

[seagila]

I'm also interested whether people think that $900 for a Gold Studio (1600 points) is overpriced and unlikely to sell on the resale market.

We are definitely interested in trying to give it away on TUG but our contract with Hilton Resale includes the following:

"Exclusive Net Listing Agreement: Seller, by executing this Net Listing Agreement, hereby grants Broker the exclusive right, commencing on date noted above and expiring on the Expiration Date noted above, to sell one or all of the Timeshare Interval(s) listed on Exhibit “A” attached hereto, and incorporated herein by reference. The Seller in writing may extend this Listing Agreement, provided that the maintenance fee(s) are paid and current."

I have put in a call to them, but I suspect this means we cannot try to sell it ourselves when we have an ongoing resale contract with them? In which case we'd need to decide whether we're better off going it alone than getting Hilton's help in reselling. Thoughts?

Thank you.

Here's a deed similar to yours that sold on Ebay for $255 inclusive of closing and transfer fees. The winning bidder only needed to pay the $535 activation fee on top of the $255 winning bid.

I myself would carefully consider taking the deed even for free due to the maintenance fees - $828.11 MF for 1,600 points. But someone might find it's just what they're looking for and gladly take it off your hands for free, if a deed-back were not possible. Closing and transfer fees would still have to be negotiated with the grantee even if you were giving it away. Not sure where ROFR stands if you were giving it away.

 

[presley]

1600 points for that $ amount of MFs is going to be very undesirable, but Elara seems to be a "bells and whistles" place where some people think it is worth more than it is.

Personally, I always go the route that is easiest on me and that is listing with a broker. I would just ask Hilton how soon they think they can sell this. It isn't unusual for timeshares to be listed for 6 months or longer before someone buys them. How long has it been listed with Hilton? And the thing about Hilton is they want to sell the new contracts because they get a lot more money for it. Most people in the sales pitches never think to ask about resales or foreclosures and why would the salesperson mention it when they are going to make thousands of dollars on a new contract instead of hundreds on a resale.

 

[GeorgeJ.]

The main problem is going to be the maintenance fee on the week. $828.11 is ridiculous for 1600 points....

 

[dioxide45]

Is it a true Elara week? Aren't some units at the property still Westgate units?

 

[newportbeach]

Everyone has an opinion, but I personally own a one bedroom there, and I am planning to give it away for free, so I certainly think you maintenance fee for just 1600 of points is not desireous, and that amount of mf for a studio is too much. But I wish you luck
and let us know the outcome. It will be informative to me in my situation.

 

[Schelker]

Chances are that someone will take it from you if you offer it up for free here.

How about for 100 dollars?

 

[Schelker]

I own every other year. Been paid off for 30 years. Home resort was Sunterra then, Diamond now Hilton in Branson Missouri. MYmaintenance fees are up to date. Will be due in January.