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Looking to sell [our timeshare]

mark1154

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We’ve had this (every other year) timeshare for many years. Some years we’ve used ourselves and some we’ve rented. We’d like to sell.

Resort details removed to prevent this from being an ad. TUG MEMBERS may place ads in the TUG Timeshare Marketplace ('Marketplace' link in blue navigation bar near top of page).

Please review the
Posting Rules you agreed to when you registered.
 
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flnewbie

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Lake Mary, FL
Resorts Owned
Smoketree Lodge, Banner Elk NC, Cranberry Gold Resort, Ontario, Canada Sheraton Broadway Plantation, Williamsburg
[Response to ad removed]
 
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klam2go

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Have a look at the sticky posted by LannyPC. Lots of good info.

Step 1 - determine if you want to sell or give away. Setting your selling price is the hardest step. You likely have many years and dollars invested and you want to recoup. Unfortunately timeshares aren't real estate. Resorts are selling a dream, an ideal vacation lifestyle. Here on TUG we've all been through the process so we understand the reality. Follow the advise in the sticky. Research. Research. Research. You will then have an idea or window of the value of your timeshare. A very quick search (with no details on your unit) showed prices from $400 to $21500. And that is what I mean by a price window.

Step 2 - determine who pays for what. Are the maintenance fees paid up and if not who pays? Are there resort, exchange, or other administrative transfer fees and who pays for these? The new deed and transfer documents need to be prepped and filed; who does this and again who pays?

Step 3 - put together an add detailing as much information as possible. You want the prospective buyer to go in understanding everything and who's responsible for what. Rememvber, you're selling a vacation dream so your add should reflect this. Pictures speak a 1000 words.

Step 4 - you have an offer! Now what? Get a signed contract to purchase in place and move on from there. There are many transfer companies that will guide you through the process. We used LT Transfers and were very pleased. The helped us cradle-to-grave and made the whole process painless.

One final note on selling price. I started this journey doing step one but maybe didn't do enough research (found TUG later in the process). The value of our timeshare ranged anywhere from free to 1,000s (and in some cases into the $10,000+ range). I know after sitting through an owner "meeting" (OK a 2 hour sales pitch but got our free Cirque did Soleil tickets) that the retail price was between $19,000 and $25,000 depending on when you gave in ;). We had paid pennies on the dollar by buying off of eBay in 2011 and being Canadian had no mortgage/loan against it. Giving it away and paying the ~$500 transfer fees (buyer paid exchange fees and 2020 maintanence fee) in the end made most senese. We tried the"market value" of about $3500 through a reseller a year ago but that was just a waste of time and $495. Daily Management wanted $2500 to deed back the timeshare. In the end only you can determine what the unit is valued at, what your are willing to pay to let it go, and how long you want to hold on to it.

Good luck and don't hesitate to ask queations. There's always someone here that will help.
 

Sandy VDH

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Well selling is really a factor of can you get someone to buy it and pay you for it, (some but limited number of timeshares fall into this category) vs do you need to pay closing costs and MF to GIVE IT AWAY to someone else.

Since I am seeing this after your resort details have been pulled out, I don't what category yours falls into.
 

mark1154

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Maryland
We’ve had this (every other year) timeshare for many years. Some years we’ve used ourselves and some we’ve rented. We’d like to sell.

Resort details removed to prevent this from being an ad. TUG MEMBERS may place ads in the TUG Timeshare Marketplace ('Marketplace' link in blue navigation bar near top of page).

Please review the
Posting Rules you agreed to when you registered.
I’m back again trying to get my wife to agree to us selling our timeshare in Charleston. Is anyone familiar with sell my timeshare.com ? I contacted them a while back. They want an upfront fee and handle all aspects of the sale. We have a really good property in Charleston so it looks like there should be considerable interest in buyers. Thoughts?
 

TheTimeTraveler

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I’m back again trying to get my wife to agree to us selling our timeshare in Charleston. Is anyone familiar with sell my timeshare.com ? I contacted them a while back. They want an upfront fee and handle all aspects of the sale. We have a really good property in Charleston so it looks like there should be considerable interest in buyers. Thoughts?


NEVER PAY AN UPFRONT FEE. Once you do that they will disappear and have ZERO incentive to do anything for you......

Tell them you will pay them when they sell your timeshare, and they can deduct their fee and send you the proceeds. They won't ever do it.

Read all the posts on TUG about upfront fee scammers. Keep your hands in your pocket and save your hard earned money! Protect your assets.


.
 

Iggyearl

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If you are talking about the company "Sell My Timeshare Now" you might want to do some study. All you need to do is go to the "search" panel above on the right. Put in the letters SMTN and read some of the posts. They are an ADVERTISING firm, not a broker. As Thetimesharetraveler states, they have no reason to do anything after taking your money. They also give high estimates on the value of your timeshare, so you may price it totally wrong. There are threads on this site which would help you in fashioning a plan to sell your timeshare. Read them.
 

bnoble

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We have a really good property in Charleston so it looks like there should be considerable interest in buyers.
This may be optimistic. There are very few timeshares that have any value at all on the secondary market---and most of those are hotel-branded with excellent name recognition for quality above and beyond the details of any particular location. (Think Disney, Marriott, Hilton, etc.) If it were me, I'd take a quick peek at eBay to see if I could find recently concluded auctions for this resort to see if any have sold for non-trivial amounts. My guess is that they haven't but I've been wrong before.

Don't get me wrong--Charleston is an excellent spot. We've enjoyed our visit there and I'd like to go back if I can get an exchange. But, it is more of a regional draw and the market for a timeshare ownership there might be hard to reach---and that's in addition to the fact that timeshares themselves are poorly understood products without a lot of organic demand.
 

Patri

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We have a really good property in Charleston so it looks like there should be considerable interest in buyers. Thoughts?
It is probably not worth as much to others as you think it is to you. Check eBay sales to determine true value. And sell or give it away yourself. You can do it!
 

TheTimeTraveler

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I’m back again trying to get my wife to agree to us selling our timeshare in Charleston. Is anyone familiar with sell my timeshare.com ? I contacted them a while back. They want an upfront fee and handle all aspects of the sale. We have a really good property in Charleston so it looks like there should be considerable interest in buyers. Thoughts?



I believe your Festiva Timeshare is worth nothing, and with that said I would say your best bet is to place a posting in the Timeshare Giveaway section here on TUG, and be willing to pay for the closing AND a year or two of use for the new buyer. Based upon your postings since 2010 it appears that you really want to be done with it so I would think this would be your best bet to get it out of your name.

Another option would be to post it on eBay for $1.

I hope you finally are able to do something about it and best of luck with your title transfer.



.
 

Gypsy65

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Probably the wrong thread for this
But
All the TS companies would have to do is set these up for a great use for the buyer and a better resale value

I have weeks that were converted to points Long story
But if I bought it all. My entire pkg from the TS developer it would have been $200,000 to maybe $300,000????
I did a lot better than that but not as good as a few others

But if I sell. Some revert back to weeks which shouldn’t
If the TS companies let me sell what I have as it sits. Then their entire bottom line would increase as the whole scare thing would disappear
 

BJRSanDiego

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I’m back again trying to get my wife to agree to us selling our timeshare in Charleston. Is anyone familiar with sell my timeshare.com ? I contacted them a while back. They want an upfront fee and handle all aspects of the sale. We have a really good property in Charleston so it looks like there should be considerable interest in buyers. Thoughts?
I've bought five timeshares (four are Marriotts): 1 through Redweek/RE-Max (had some issues), 1 through tug2.com (smoothest closing), and 3 through eBay (all went okay). So, when I eventually want to get rid of my timeshares, I will first check if the timeshare group will take it back. If not, then I'd either post on tug2.com (for the timeshares that might have a slight value) or I'd offer for free on tugbbs.com. I might also consider selling on Redweek.com.

If I had a zero-value timeshare, I'd (1) see if the timeshare group would do a deedback, (2) consider stop paying the MF and let them foreclose or (3) offer for free on tugbbs.com and offer to pay all the closing costs and also include a higher-demand booked week for free.
 

HudsHut

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One additional suggestion if you have a deeded fixed week:
Contact your resort / HOA and ask if they keep a list and/or alert Owners of units for sale. Example: Sometimes an owner of a certain unit/week wants the week before/after his. Some resorts facilitate this.

If not, ask HOA to accept a deed in lieu of foreclosure.
If not, stop paying the maintenance dues, and let them foreclose.

I looked back at your previous posts. Make no mistake. Your unit has no value on the secondary market. Do not pay an upfront fee to learn this the hard way.
Your resort was not sold in ebay within the last 6 months, but another resort in Charleston was, for $1.00 USD.
Sold Nov 11, 2020Sold Item
THE LODGE ALLEY INN CHARLESTON SC 10000 BLUEGREN POINTS PER YEAR TIMESHARE
$1.00
Nov-11 20:01
1 bid
Seller: seans0302 (1,741) 100%
 

lb8inred

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Why would you say Festiva is worth nothing? Are they a bad company to work with? We are looking at purchasing, love Hyatt but have never worked with or known anyone that has worked with Festiva. Thank you.
 

montygz

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Why would you say Festiva is worth nothing? Are they a bad company to work with? We are looking at purchasing, love Hyatt but have never worked with or known anyone that has worked with Festiva. Thank you.
Worth nothing just means it doesn't have any resale value. Timeshares can be worth owning if you plan to use them.

I am not familiar with Festiva, however.

For example, I paid just a few bucks for my timeshare, but I use it and it's worth owning for me. However, if I went to sell it I would be lucky to get $1 for it. That's fine with me, I knew that going in.

Sadly, many people pay developers thousands for timeshares that are only worth $1 and are shocked when they discover that.
 

Fried_shrimp

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Why would you say Festiva is worth nothing? Are they a bad company to work with? We are looking at purchasing, love Hyatt but have never worked with or known anyone that has worked with Festiva. Thank you.

Almost every timeshare in existence is worth nothing on the resale market. It doesn't mean they don't have intrinsic value to the owner but they don't have a financial value to anyone else, mostly due to so many people trying to get rid of theirs to get away from the maint fees.
 
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