Negative value timeshares?

[boyblue]

I believe we need to look at the negative value TS differently. For example we own a couple of VVP units that we got for about 1k, years ago. We've gotten good value for our ownership over the years and will likely keep one for the foreseeable future. But, we don't travel as much as we used to, so we'll likely get rid of one. I have a family member that may take it, but I didn't want to burden him if indeed it is a bad investment, even if it's free. So I've given it some thought.

Consider that we didn't pay the full cost up front and are prepared to pay the balance on the back end. Paying closing cost and one or two years of MF can all be considered a part of the full cost. The fact that as Tuggers, we believe that $3,800 for a TS resort the caliber of VVP tells me that we may be looking at this whole thing wrong.

Of course there are worse examples, but if seen from this perspective, maybe there aren't as many bad TS as we believe.

 

[vacation911]

I believe we need to look at the negative value TS differently. For example we own a couple of VVP units that we got for about 1k, years ago. We've gotten good value for our ownership over the years and will likely keep one for the foreseeable future. But, we don't travel as much as we used to, so we'll likely get rid of one. I have a family member that may take it, but I didn't want to burden him if indeed it is a bad investment, even if it's free. So I've given it some thought.

Consider that we didn't pay the full cost up front and are prepared to pay the balance on the back end. Paying closing cost and one or two years of MF can all be considered a part of the full cost. The fact that as Tuggers, we believe that $3,800 for a TS resort the caliber of VVP tells me that we may be looking at this whole thing wrong.

Of course there are worse examples, but if seen from this perspective, maybe there aren't as many bad TS as we believe.

It sounds like you are advocating for offering a incentive to a buyer of paid closing cost, and free usage and accounting for that as part of your cost to own it. This is definitely something I believe would help owners who are having trouble getting out. I think this is the way to get out for both developer and resale buyers. There are of course exceptions but this will let their listing stand out from the hundreds of others. I have always thought that if a owner wants out badly enough to pay an exit company thousands of dollars t, its a shame they didnt offer even a fraction of that money to a buyer so that they could get a clean exit as opposed to just a foreclosure or deed in lieu. That would also have kept the money with timeshare owners rather than with third party sham companies.

 

[boyblue]

It sounds like you are advocating for offering a incentive to a buyer of paid closing cost, and free usage and accounting for that as part of your cost to own it. This is definitely something I believe would help owners who are having trouble getting out. I think this is the way to get out for both developer and resale buyers. There are of course exceptions but this will let their listing stand out from the hundreds of others. I have always thought that if a owner wants out badly enough to pay an exit company thousands of dollars t, its a shame they didnt offer even a fraction of that money to a buyer so that they could get a clean exit as opposed to just a foreclosure or deed in lieu. That would also have kept the money with timeshare owners rather than with third party sham companies.

I wasn't thinking about communicating the detail in advertising because mine would be a personal sale but of course that makes sense, especially here on TUG where folks know the value. The only thing is you'd have to have two years use sitting in the account because you wouldn't be able to prepay future MF.

 

[Passepartout]

I wasn't thinking about communicating the detail in advertising because mine would be a personal sale but of course that makes sense, especially here on TUG where folks know the value. The only thing is you'd have to have two years use sitting in the account because you wouldn't be able to prepay future MF.

Instead of offering to pay two years' MF, just offer a prepaid card for the buyer to use as they wish. I think that would be more attractive. The object here is for you to unload the TS, not to pay someone- even a relative's maintenance. It's none of your business.

 

[boyblue]

Instead of offering to pay two years' MF, just offer a prepaid card for the buyer to use as they wish. I think that would be more attractive. The object here is for you to unload the TS, not to pay someone- even a relative's maintenance. It's none of your business.

Ok, so you offer cash and the explanation is that there are hundreds of timeshares out there of similar value, you're offering additional cash to encourage purchase of your unit. How is that for an explanation?

 

[vacation911]

Ok, so you offer cash and the explanation is that there are hundreds of timeshares out there of similar value, you're offering additional cash to encourage purchase of your unit. How is that for an explanation?

Thats not the explanation I would use. I would just say, we are offering an incentive because the timeshare doesn't work for us anymore, and we are paying for something we can't use. We just want to pass this on to a family/someone that can get use out of it and want out as soon as possible so we don't get stuck paying yet again for something we can't use. . Something more along those lines, I think.