The number of years your family has owned it is not relevant to the decision. There is just "sunk cost," which is the money that is gone (purchase price and 20 years of annual dues) whether you keep it or sell it.
And there's probably vacation time on the table. Someone should use whatever is available before jettisoning the property. If not OP, a relative.
We own some TS and used to invite our in-laws to join us. They were at the point where they shouldn't have been driving and this allowed them to see relatives in Palm Desert, Sedona and Phoenix on an annual basis. So, by us inviting them, it was something that they couldn't do themselves and we enjoyed their company. Plus we stayed in some really nice timeshares that otherwise they could not afford. Maybe an arrangement like this might work for the OP.
You need to find out more info. You stated he "upgraded" some years back. If he only owns weeks, that likely means it is enrolled with Abound. (Or he bought additional points.) If not, he can enroll for free as he has owned 20 years. Enrollment makes those weeks much more valuable. Also, you can lock off to 4 weeks and exchange for free.
What does "you can lock off to 4 weeks and exchange for free" mean? He owns OS not OF. I still haven't figured out to see how much this has sold for in the past. What it's posted for now for sale does me no good if no one buys it at that price...He seemed to think there were thousands (paraphrasing) for sale and no one buying....
The units can each be locked off into a one bedroom and a studio. If they are enrolled, those can then be deposited into Interval International and exchanged for four weeks in up to two bedroom units each. So it is theoretically possible to get four two bedroom units. As enrolled there are no exchange fees and membership to Interval International is included.
Not in my experience. Though Platinum weeks at Ocean Pointe get more points than I can get with our weeks. The two weeks are worth 8,650 points combined. You may be able to exchange through Interval using the four deposit method I mentioned in the prior post to get weeks that would cost you 10,000 to 12,000 points if using points. So you can come out ahead by trading the weeks in Interval International but it requires more time, patience and research to understand how it all works.
There are many 2BR platinum OS weeks listed on Redweek for upwards of 10K each. At the low end there are a few at around $6K-7.5K. The likely going rate is probably around the 6K amount, less sales fees. If there is no scenario where you want to keep them in the family, then you should NOT give them for free to Marriott. As mentioned above, they will sell the underlying points for over $100,000.
Thanks so much, yes I can see this. What I can't see or seem to find is if they actually sold though for those listing prices. thanks
You can't find it because it does not exist. There is no secret list and there is no exact number. There is no definitive way to know. What it sells for one day will be different the next. People here have decades of experience in timeshare, as well as redweek. It is pretty logical that if there is a glut at a price, they are not selling at all or not very quickly. If there are only a few at a lower price then they are probably selling around that price. The only way to know what your weeks will sell for is to list them and see if they sell. If not keep lowering until they do. As many have said those weeks have value. They actually have exponentially more value to your immediate family than any buyer who cannot enroll the weeks without enormous cost.
If they are already enrolled in abound points (they are) and the weeks are sold, the buyer does not get access to the abound points?
Correct for both questions. I've never heard of anything in timeshare ownership documentation which caps the annual increase.
No but you would.
