selling a points based timeshare question

[macjohn]

I bought into a 10,000 point per year Sunterra plan several years ago (now Diamond Resorts) and now want to sell it. I reviewed the sticky post on how to sell your timeshare but many of the sites I've clicked on don't seem to be geared towards points based systems. If I want totally OUT of my timeshare, no longer paying the $1000 in yearly fees, and give someone else the yearly 10,000 points, what is the best way to do it? Any advice appreciated.

Thanks

 

[bnoble]

List it on ebay for $1, no reserve.

 

[macjohn]

ok, that sounds like a way to get rid of it... but what if I want to try to get 30-50% of the original value out of it?

 

[JMAESD84]

ok, that sounds like a way to get rid of it... but what if I want to try to get 30-50% of the original value out of it?

I hope you don't mean developer value(sic) price.

$1 no reserve - means that you will get what you get and be out.

If you want to recover some of your costs then you need to set realistic expectations and be patient.

 

[lprstn]

Good luck, you'll need it!

Just be realistic, check various sites and see what its going for. Don't have high expectations.

 

[Bill4728]

I bought into a 10,000 point per year Sunterra plan several years ago (now Diamond Resorts) and now want to sell it. I reviewed the sticky post on how to sell your timeshare but many of the sites I've clicked on don't seem to be geared towards points based systems. If I want totally OUT of my timeshare, no longer paying the $1000 in yearly fees, and give someone else the yearly 10,000 points, what is the best way to do it? Any advice appreciated.

Thanks

If you bought this several years ago, you likely didn't buy 10,000 points but bought a week at a single resort worth 10,000 pts. When you go to sell, you can only sell that week at that resort and not the points. Because when you sell sunterra, you aren't allowed to sell the club membership which allows the point useage.

This normally makes the sales price but 10-20% of the price you paid the developer. ( maybe even less)

Sorry

 

[macjohn]

It was December of 2004 and it was pretty clear we were buying the points, but it was a 'home base' in sedona AZ which is I guess the unit we are actually 'owning'.

I guess I'll try some of the sites listed in the selling faq and go from there. Thanks

 

[Bill4728]

In Dec 2004, Sunterra may have had the "trust" set up and sendona was one of the resorts. Therefore it is possible that you bought points in the "trust" On resale they allow the owner to use their points at any of the ~ 19 resorts in the "trust" This makes this ownership more valuable than just an ownership in the single sedona resort.

You need to find out what you own.
- Do you own a week at Sedona ( worth 10,000 points)?
or Do you own 10,000 "trust points" good at the 19 "trust" resorts.

PS since you bought from the developer, you get to use those points at any of the >100 Sunterra resorts but the resale buyer will only have the 2 options I listed.

here is a quote from a thread which talks about the trust

The "Trust" is a points based trust currently comprised
of the following 19 Diamond resorts:

- Bent Creek Golf Village - TN
- Cypress Pointe Resort II - FL
- Daytona Beach Regency - FL
- Desert Paradise Resort - NV
- Flamingo Beach Resort - St. Maarten
- Grand Beach Resort- FL
- Island Links Resort - SC
- Greensprings Plantation - VA
- London Bridge Resort - AZ
- Plantation at Fall Creek - MO
- Powhatan Plantation - VA
- Ridge on Sedona - AZ
- Royal Palm Beach - St. Maarten
- San Luis Bay Inn - CA
- Scottsdale Links Resort - AZ
- Scottsdale Villa Mirage - AZ
- Sedona Summit Resort - AZ
- Lake Tahoe - CA
- Villas de Santa Fe - NM

Resale owners of the “trust” are allowed to reserve time at any of the 19 resorts in the trust. But not at any other Diamond resorts.

 

[rickandcindy23]

Don't sell it. Timeshare is for using, not selling. Everyone needs a vacation. If you cannot use it, rent it out until you have time or the desire to use it yourself.

 

[macjohn]

OK, full story time:

My wife and I bought it in December of 2004, in December of 2006 decided to leave me. In spring of 2007 we decided she would get more use out of it than me and she was given it in the settlement. Throughout the year she used it and went into major debt (flights and yearly dues). She was compensated about 6k for it as an asset in our divorce. We paid over 21k for it. I recommended she keep it because I honestly never imagined she'd really divorce me... she did and now she wants my help in selling it.

I can't justify buying it form her for 6k and then maintaining the yearly 1k or more dues. We agreed if we sold it after the divorce, we'd split the loss or gain.. in other words, if she sold it for 2k, I'd split the 4k loss with her and give her 2k. Same if she sold it for 10k. So it's in my interest to get the most out of this. She doesn't want it, I don't want it, at this point, we just want to see where we can advertise it, not get screwed and get 2 to 6k out of it... more if possible.

Any suggestions appreciated.

 

[macjohn]

one more thing.... She'd probably consider using it and just letting it sit idle but I guess she'd be penalized for not paying the yearly dues... which sucks, because, Ideally, she'd just hold onto it and not pay on it again until she has more money and can afford it.

 

[ausman]

The circumstances of how it comes on the market probably doesn't matter.

All the above advise probably still applies.

While I feel your pain with the circumstances, and hope I'm not next in line, the reality is, if selling, things sell within a range.

Renting would seem to be a way to mitigate the damages until you get a handle on it.