Selling - mentor me

[tamu_bu]

My wife and I are thinking it may be time to sell. We've only ever owned one property and for 20+ years (won't mention here due to advertising restrictions but it is platinum and mandatory). I've stayed tuned into TUG for many reasons but never have had the need to understand the ins and outs of the selling process.

I guess I could use some mentoring or thoughts from the group. Since I know so little of the selling process, I reached out to highly regarded Syed at Advantage Vacation to understand how it would work if they were to rep the sale. They will broker the sale no upfront fee, $2k upon sale completion, no additional costs, buyer pays closing fees.

Any thoughts about such an arrangement? It feels extravagant but would be mostly hands off. I am confident the ownership will sell for more than the cost.

 

[dioxide45]

Syed is a good option and may be able to get you a bit better sales price, but you can always go the DIY route through Redweek and save the $2000. Do closing through LT Transfers. You can look at Redweek to get an idea of what other people are selling for. List toward the low end of that. Based on your profile, if that's the week you are looking to sell it should have decent resale value. I see a few pending on Redweek >$11K

 

[rickandcindy23]

There has never been a better time to buy Kierland, but there will be future better times to sell. It's a buyer's market. I remember when all Kierland 148,100 SO's were over $15,000, not to long ago. $11,000 is a bargain.

I wouldn't sell right now. That's my advice.

 

[vacationtime1]

If you're not comfortable selling it yourself, Syed is an excellent choice; I have worked with him on three transactions and find him to be both competent and straightforward in his approach. He may (but may not) get a better price than a DIY, but a $2K commission is reasonable for this type of transaction.

If I were selling my own Kierland Plat+ units (which I am not), I would be targeting $12K for my 2bd annual or $7K for my large side 1bd annual.

Reminder: there is no ROFR on Kierland.

 

[DeniseM]

+1 for Syed at Advantage Vacation

 

[tamu_bu]

If selling through redweek, do they provide sales contract templates, check lists, or anything other than a web platform for buyer-meet-seller?

 

[vacationtime1]

If selling through redweek, do they provide sales contract templates, check lists, or anything other than a web platform for buyer-meet-seller?

Actually, Redweek does all of those things except buyer-meet-seller.

Redweek is the intermediary in all communications. With delays and sometimes miscommunications and missed communications. Do a search here; some have reported that questions from potential buyers about details did not get completely answered resulting in possible missed deals. I have concerns about conflict of interest -- how does Redweek deal with counteroffers on your unit while representing other sellers of the same unit. Finally, check Redweek's fee structure against the value of your unit; Syed may not be much more expensive.

Obviously I don't like Redweek's business model, but ymmv.

 

[dioxide45]

Actually, Redweek does all of those things except buyer-meet-seller.

Redweek still has a 100% DIY option on timeshare resale listings. You may be thinking about rentals where they no longer offer DIY and only Full Service.

If I am understanding what the OP means by buyer-meet-seller correctly, Redweek still offers that on timeshare sale listings. If the OP is looking for contracts and such, they would want the Full Service option.

 

[tamu_bu]

There has never been a better time to buy Kierland, but there will be future better times to sell. It's a buyer's market. I remember when all Kierland 148,100 SO's were over $15,000, not to long ago. $11,000 is a bargain.

I wouldn't sell right now. That's my advice.

Good feedback about the market. We're not in any real hurry. Is there a good site to follow ending sell prices? Sounds like the market may be down 20-ish percent. If eventually I try to sell as a diy, could anyone refer me to a sales contract template?