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Reef Resorts Mexico- Best Move?

cianci1129

newbie
Joined
Jan 27, 2023
Messages
1
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I am in a "right to use" "timeshare" out of Reef Resorts in Playa del Carmen, Mexico. I have 160 weeks that resets into another 160 weeks. These can be used at any of the 3 Reef locations for a discount off each week you use of 25%. Additionally, you can transfer the weeks into leading vacation club to use them elsewhere for a transfer fee.

I have no clue what it's worth, I don't use it. Is this something sellable? Is it worthless? I paid $14k and have paid off about half. Any honest feedback on my options here?
 

T-Dot-Traveller

TUG Member
Joined
Jun 10, 2015
Messages
4,696
Reaction score
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Location
Canada
Resorts Owned
Mayan Palace Regency
Taranova
I am in a "right to use" "timeshare" out of Reef Resorts in Playa del Carmen, Mexico. I have 160 weeks that resets into another 160 weeks. These can be used at any of the 3 Reef locations for a discount off each week you use of 25%. Additionally, you can transfer the weeks into leading vacation club to use them elsewhere for a transfer fee.

I have no clue what it's worth, I don't use it. Is this something sellable? Is it worthless? I paid $14k and have paid off about half. Any honest feedback on my options here?

1) if not paid off - no one will take it - even for free / $ 0

2) Mexican timeshare contracts are RTU ( right to use) with no deed.
People do 'walk away' from these type of contracts if fully paid off.

3) Where did the loan originate is the question.
You would have to deal with credit report issues if it a USA based lender or credit card , and you reside in the USA.

There are TUG Mexican forum threads regarding your questions.
Reading them may assist you in determining the best pathway.
 
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