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Need Help to Sell

B

Blue7143

TUG Member
Joined
Apr 30, 2009
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Not wanting or going to pay upfront fees, but need help selling a timeshare. Numerous resale companies with great promise but high upfront fees. Anyone know of a company that doesn't have upfront fees, but sells on commission? I live in Canada and am having a lot of trouble finding a commission based resale company. I have listed on TUG classifieds, EBAY, and am going to look into Redweek as well.

Also do I require a closing company for this? and if so can anyone recommend one?

Thanks to all that reply, as I have only 1 year experience with my timeshare and am lost in all the information.:shrug:
 
You have received a lot of good info. in the replies to your other posts. Since you had trouble getting a charity to take it, I'm guessing that it has very little resale value. If this is true, it won't matter who you list it with. In this economy, it is very difficult to sell a TS.

Since you've only owned a year, is it fully paid off?

Right now people cannot afford to travel and/or pay their maintenance fees, so they are dumping them on the resale market for little or nothing. The top timeshares are going for less than 50% of retail, the mid-level timeshares are going for 10-20% of retail, and you can't even give away the lower tier timeshares.

The bottom line is that you are going to lose 50-100% of what you paid, when you sell it.

Since you are getting no response to your Ads, I am guessing that you have it priced to high. Did you do some research on the resale market for Comps?

If you really want to get rid of it, list it on several sites for $1 and agree to pay the transfer costs.

(Just so you know, since you are trying to sell it, please don't list any details about the resort here.)

Good luck!
 
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another suggestion, since i just looked up your ad.

you might want to even offer to pay the resort transfer fee and the closing costs you mention in the ad as payable by the buyer...yourself instead since the asking price for your timeshare is already less than $500 dollars. (also note that since the asking price is so low, its likely not really worth any resale office to sell it on comission.
 
DeniseM said:
You have received a lot of good info. in the replies to your other posts. Since you had trouble getting a charity to take it, I'm guessing that it has very little resale value. If this is true, it won't matter who you list it with. In this economy, it is very difficult to sell a TS.

Since you've only owned a year, is it fully paid off?

Right now people cannot afford to travel and/or pay their maintenance fees, so they are dumping them on the resale market for little or nothing. The top timeshares are going for less than 50% of retail, the mid-level timeshares are going for 10-20% of retail, and you can't even give away the lower tier timeshares.

The bottom line is that you are going to lose 50-100% of what you paid, when you sell it.

Since you are getting no response to your Ads, I am guessing that you have it priced to high. Did you do some research on the resale market for Comps?

If you really want to get rid of it, list it on several sites for $1 and agree to pay the transfer costs.

(Just so you know, since you are trying to sell it, please don't list any details about the resort here.)

Good luck!
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It's not that a charity won't take it, I can't find one to call me back or respond with any information regarding donation.

The only ad that I had prior to today was on the TUG marketplace. I did research similar ads but my husband and I at this point just want to "get rid' of it. We will consider Brians' suggestion of covering closing costs.

And even though we have only had it for 1 year it is fully paid.
 
Blue7143 said:
It's not that a charity won't take it, I can't find one to call me back or respond with any information regarding donation.
Click to expand...

If you have it for sale for $500 and you are getting no offers, that means is has no resale value and that's why the charities aren't responding. They will only accept weeks that they can turn around quickly for a profit.

Why not hang out with us a bit and learn how to make the most of your timeshare? It's a shame for you to lose all your money by reselling it after only a year.

Why aren't you using it?
 
We loved the resort when we were there, but we have decided that being a timeshare holder isn't really how we desire to travel. Due to work schedules etc we are more of the "last minute deal" travellers, rather than the plan ahead.
 
Blue7143 said:
We loved the resort when we were there, but we have decided that being a timeshare holder isn't really how we desire to travel. Due to work schedules etc we are more of the "last minute deal" travellers, rather than the plan ahead.
Click to expand...

How much did you pay for this resort?
 
I hate to see you lose $12K without giving timesharing a REAL chance!

I guarantee, that if you hang out with us for a month, you will learn how to make your TS work for you, and you will be so glad you didn't dump it!

Plus, there are a lot of nice people on TUG.... :hi:

You have nothing to lose.....except $12K!
 
Thanks Denise.... we have a lot of concerns..especially after receiving information from resale/rental companies..astronomical increases to maintenane fees, special repair fees etc that weren't discussed with us during purchase. After all the information overload and work scheduling we decided we were better just to get rid of it. I will do more surfing around the site for information..maybe it will change our opinion.
 
I would second Denise's suggestion that you hang on to it for a while. When you say that you travel at the "last minute" how last minute are you talking about? Inside the Flexchange period (59 days or less) you can find some fantastic trades. Right now as you have found out there isn't much of a market for timeshares, perhaps you could wait a year or two, see if you use it and if not sell it then? Market conditions may make it easier to sell in a couple of years.
 
also you can learn how to rent it out yourself to others to offset or even match your yearly maint fees!

there are usually better options than taking a 12k loss after a single year!
 
Blue7143 said:
Thanks Denise.... we have a lot of concerns..especially after receiving information from resale/rental companies..astronomical increases to maintenane fees, special repair fees etc that weren't discussed with us during purchase. After all the information overload and work scheduling we decided we were better just to get rid of it. I will do more surfing around the site for information..maybe it will change our opinion.
Click to expand...

You have to remember the motives of who you are talking to when buying/selling/renting a timeshare. When in the purchase phase, you are primarily dealing with sales people who are promoting the benefits of timesharing, and in particular using their timeshare system. When selling, you are now dealing with sales people who are promoting the failures of timesharing and the benefits of their disposal system. In either situation, sales people have their interests (commissions) at heart and are not interested in your needs, just the sale.

Continue to visit here and ask questions and you will receive valuable advice from people whose only vested interest is a willingness to share their information.
 
DeniseM said:
I hate to see you lose $12K without giving timesharing a REAL chance!
Click to expand...

Regardless of whether he gives timesharing a real chance or not, OP has already experienced a $12k loss. That's a sunk cost. Giving timesharing a chance isn't going to magically erase the $12k loss. I don't disagree with giving it a chance, though (even though I have no idea what property this is).
 
True - the money is spent. But if she keeps the TS and learns to use it, at least will get some value for her money. She said they love the resort, so I hope she gives it a try.
 
Being a "sunk cost" is the exact reason the OP ought to hold on to it for a few years. Yes, there will be annual MFs to worry about, but they're probaby minimal compared to what's already been sunk into it.

Best way to look at it is the costs going forward; if the OP chooses to try and come up with an annual cost for the TS, with each year of use the "average cost" will go down.
 
Since the purchase is a sunk cost and probably has little salvage value, the economic assessment is pretty simple: Is it cheaper to pay annual fees (+ exchange fees if the OP uses the unit to trade) or to dump the unit and rent/book hotels and condos instead.

Of course, the evaluation needs to consider the differences in hotel vs condo accommodations if the OP considers hotels going forward.
 
Dear Blue,

Welcome to TUG!

Please try to learn how to use your t/s instead of dumping it. There are so many tricks of the trade you have probably not yet learned, you might be surprised how flexible your ownership can be if you will read here and ask questions.

I hope you give t/s a chance. We love out t/s vacations! We spent $11k on our ownership and felt lost before finding TUG. Now we feel like t/s gurus and get so much out of our one little week we own!

Cheers,
Janna
 
lost cash

applegirl said:
Dear Blue,

Welcome to TUG!

Please try to learn how to use your t/s instead of dumping it. There are so many tricks of the trade you have probably not yet learned, you might be surprised how flexible your ownership can be if you will read here and ask questions.

I hope you give t/s a chance. We love out t/s vacations! We spent $11k on our ownership and felt lost before finding TUG. Now we feel like t/s gurus and get so much out of our one little week we own!

Cheers,
Janna
Click to expand...
so glad to here that ! I bought mine last year for 10.5k and have yet to use it.I have very little annual points,and feel like i've waisted my money.I just found tag and hope to learn alot about my timeshare:clap:
 
I am so glad someone told me about TUG. I have so many weeks in the bank that I will now try and rent and hopefully get aleast the money I spent on annual mantenance fees. I have three units at that!
 
Hi and welcome to TUG! :hi:

If by "in the bank" you mean deposited with II or RCI, you need to be aware that the exchange companies do not allow exchanges to be rented, and if you are caught you can lose your membership, your deposit, and your exchange.

See the article at the top of the TUG Exchanging board for all the details. There are a few exchange companies who allow it, but not RCI or II.
 
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