I'm considering joining TUG and putting my timeshare up for sale...

[Demrex]

As the title says I'm considering joining tug and putting my Timeshare up for sale. Am I allowed to ask here on the BBS thoughts about what I should set the price at? I looked and have an idea in mind based on what I can see... then again, maybe I should just give this away for free? Thoughts?

 

[HuskerATL]

First, the $15 /year is worth it to support this group. You don't have to pay it and can still participate for free but things cost money so worth supporting.

I had a very similar 8k point 2 bed at Tuscany Village and gave it away. You might get $500 but, in my case, I had used the next year's points already. I didn't mind giving it away since we had owned it for 20 years so got our money's worth out of it. I think the MFs will continue to go up in Orlando and there are cheaper places to own so you can come out ahead by dumping it and buying a good Vegas deed.

Check the TUG marketplace for other sales there to get an idea of what others are asking.

 

[GT75]

Yes you are allowed to ask for advice.

I would also suggest free. You can list for free in the free TS forum w/o joining tug.

 

[alwysonvac]

It's a buyer's market (lots more sellers than buyers) especially in Orlando.

You'll usually find resale prices all over the map:

• Extremely high prices (from sellers with unrealistic expectations of getting back their purchase price and/or falsely believing the value should have risen (not significantly fallen over time))
• Middle of the road prices (from folks who have accepted that they need to be the lowest or one of the lowest if they're going to beat out the others for a buyer)
• Extremely low prices (from desperate sellers who simply want out and/or 3rd parties that already made their money from folks who paid thousands to take it off their hands)

For example, here's a list of the HGVC Resale brokers frequently mentioned.

• Dana at Remax - https://www.timeshareprofessionals.com/contact
• Seth at Sellingtimeshares - https://sellingtimeshares.net/selling-timeshares/about-us/
• Syed at Advantage Vacation - https://advantagevacation.com/about-us/

And here are the asking prices listed on Remax Listings (link) and Sellingtimeshares (link)

If you want to get rid of your week before the next maintenance fee is due, I also recommend giving it away for free with the buyer paying for closing costs.

 

[HuskerATL]

for me, I would not think about what you have spent for it, that money is gone. Think about ongoing costs and if your other deeds or plan to by a lower MF/pt deed, then think about that ongoing cost. What will it costs you moving forward so dropping this one and getting an inexpensive resale with low MF/pt will save you money over time...but now focus on a platinum deed in a place like Vegas with more points and lower MF/pt.

 

[weems637]

You paid for it, used it, now want to get rid of it. Any plan B? Done with timesharing altogether, or considering a different club? Left us hanging.....

 

[Demrex]

You paid for it, used it, now want to get rid of it. Any plan B? Done with timesharing altogether, or considering a different club? Left us hanging.....

I am done with it. Timesharing is not for me and I never really intended it to be. I'm one of those people that very much feels as though I was "duped" into joining. Now I have to go through the hell of figuring out how to resell/give this thing away. The loan is completely paid off, just the yearly maintenance fees now... which with how the economy is right now I just cannot justify paying every year. Not to mention, I bought this thing with my now Ex-Wife... Being divorced and co-owning makes things even more complicated. Neither of us really want it. Didn't mean to leave ya hanging.

 

[Demrex]

for me, I would not think about what you have spent for it, that money is gone. Think about ongoing costs and if your other deeds or plan to by a lower MF/pt deed, then think about that ongoing cost. What will it costs you moving forward so dropping this one and getting an inexpensive resale with low MF/pt will save you money over time...but now focus on a platinum deed in a place like Vegas with more points and lower MF/pt.

Oh yeah, I realize I'll never get anywhere even remotely close to my money back. Not the plan. It would be nice to get enough to cover closing costs of getting the thing transferred to someone - but maybe even that is a pipe dream. hah

 

[Demrex]

It's a buyer's market (lots more sellers than buyers) especially in Orlando.

You'll usually find resale prices all over the map:

• Extremely high prices (from sellers with unrealistic expectations of getting back their purchase price and/or falsely believing the value should have risen (not significantly fallen over time))
• Middle of the road prices (from folks who have accepted that they need to be the lowest or one of the lowest if they're going to beat out the others for a buyer)
• Extremely low prices (from desperate sellers who simply want out and/or 3rd parties that already made their money from folks who paid thousands to take it off their hands)

For example, here's a list of the HGVC Resale brokers frequently mentioned.

• Dana at Remax - https://www.timeshareprofessionals.com/contact
• Seth at Sellingtimeshares - https://sellingtimeshares.net/selling-timeshares/about-us/
• Syed at Advantage Vacation - https://advantagevacation.com/about-us/

And here are the asking prices listed on Remax Listings (link) and Sellingtimeshares (link)

If you want to get rid of your week before the next maintenance fee is due, I also recommend giving it away for free with the buyer paying for closing costs.

That's a great idea of giving it away with the buyer paying closing costs. Didn't know there would be people willing to do that - I hope I can get a bite doing something like that. I really hope I can figure all this out and not get scammed by someone... I just want the thing gone. I've never sold a timeshare before so I have no clue what the process is really like. If I find a "buyer" ... how do I effectively transfer the deed? Am I going to need to notarize documents? What documents? Lol... and these are just some of my basic layman questions.

 

[CalGalTraveler]

Use LT transfers or timeshareclosingsforless.com as a third party to do the paperwork and run escrow. Cost about $250 - $350 to the buyer. They will get the estoppel for the buyer and get the buyer deed in place. Easy peasy.

 

[Demrex]

Use LT transfers or timeshareclosingsforless.com as a third party to do the paperwork and run escrow. Cost about $250 - $350 to the buyer. They will get the estoppel for the buyer and get the buyer deed in place. Easy peasy.

Thank you so much for the tip! Also - I believe HGVC is going to charge me closing fees as well - won't they? Once I initiated the resale process with them - there was some discussion about needing to pay them a fee... but maybe that's only a commission if they sell it through their posting.

 

[Demrex]

Well, wish me luck, I posted it in the free postings with the stipulation that I'd like the buyer to pay the closing costs. Hopefully I'll get a bite.

 

[HuskerATL]

Oh yeah, I realize I'll never get anywhere even remotely close to my money back. Not the plan. It would be nice to get enough to cover closing costs of getting the thing transferred to someone - but maybe even that is a pipe dream. hah

You can give it away with the buyer paying closing

 

[GT75]

Well, wish me luck, I posted it in the free postings with the stipulation that I'd like the buyer to pay the closing costs. Hopefully I'll get a bite.

I think that plan is solid. I don't think that you will need to pay for closing cost in order for someone to take it. Like @CalGalTraveler said, use LT transfers or timeshareclosingsforless.com as a third party to do the paperwork and run escrow. Cost about $250 - $350 to the buyer. They will ensure that it is handled correctly.

 

[RX8]

And just to clarify, the buyer will also have to pay the activation fee directly to HGVC upon closing. This is separate from the LT Closing costs.

 

[Demrex]

And just to clarify, the buyer will also have to pay the activation fee directly to HGVC upon closing. This is separate from the LT Closing costs.

Any idea how much that is? Or does it vary?

 

[alwysonvac]

Well, wish me luck, I posted it in the free postings with the stipulation that I'd like the buyer to pay the closing costs. Hopefully I'll get a bite.

Give it until the end of the month.
If you're unable to find a buyer willing to pay then voluntarily surrender it to HGVC for free.

 

[Demrex]

Give it until the end of the month.
If you're unable to find a buyer willing to pay then voluntarily surrender it to HGVC for free.

Is that done through the deed back process? I read about that in a stickied post. If not... how is it done?

 

[GT75]

It looks like you have 2024 pts available. That would be another positive.

Post your MF. I don't know if you are OSV I or II so I can not help.

Club Inventory Activation Fee per interval (Purchased through Resale/Private)

$695

Estoppel Fee

$95

Ownership Change Fee | Single fee (when multiple weeks enrolled at same time)

$474

 

[GT75]

Is that done through the deed back process?

Yes

 

[GT75]

I would suggest starting with the buyer paying all of the fees including saving 2024 pts into 2025.

 

[alwysonvac]

Is that done through the deed back process? I read about that in a stickied post. If not... how is it done?

Yes but try to give it away first without having to pay anything.

I see from your older post that you bought this from HGVC back in November 2021. It would be a shame to give it back to HGVC for free after paying your loan off but if you have no other choice.

 

[Demrex]

So this may be a naive/laughable request... but is there anyone that has responded in here that has experience doing this and that would be willing to help me do this once I have someone interested in purchasing from me? I'm really worried about scammers even here on the forums. Please reach out over DMs if you'd be willing to kind of coach me through this. I'd appreciate any help I can get.

 

[CalGalTraveler]

With all due respect, I understand your nervousness but you are giving away a property you do not want. The people who should be nervous are your buyers who need to pay for the transfer amd MFs.

Do not send money to the buyer and work with LT transfers on the paperwork and provide your info to them. You will need to review/sign a purchase agreement that LT can provide with your ownership info. They will handle the rest. That's what you are paying them for.

 

[Demrex]

With all due respect, I understand your nervousness but you are giving away a property you do not want. The people who should be nervous are your buyers who need to pay for the transfer amd MFs.

Do not send money to the buyer and work with LT transfers on the paperwork and provide your info to them. You will need to sign a sales agreement that LT can provide with your ownership info. They will handle it.

Thank you for being kind about it with me. I am just indeed... very nervous about the whole thing. Appreciate your response. Thank you.