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Selling Timeshare

Laceymg75

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I'm hoping for some help! We own 2 weeks [at a resort in the Ka'anapali area on Maui] - and would love to sell them both. Does anyone have any advice on the best way to go about selling these - and what we should be asking for them? Any help is very much appreciated!
 
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SmithOp

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HGVC King's Land 2BR Premier 23.040K Points.
I suggest you contact Syed Sarmad and use him as a broker to sell them. He specializes in that area, his office is at the cannery mall in Lahaina. If you Google his name, should find his web site.

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DavidnRobin

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WKORV OFD (Maui)
WPORV (Kauai)
WSJ-VGV (St. John)
WKV (Scottsdale)
Your post may get edited because it could be construed as a offer to sale which is against TUG rules - but can be gray area depending how the question is asked.

You first need to get an idea of the resale value. Also, know that SVO has ROFR for WKORVN - so need to balance this as not too sell too cheaply but not too high as to get serious buyers. Check out RedWeek to get an idea of what these are worth. I was looking at OF WKORV (south) and a seller on RedWeek had a WKORVN OF listed at wrong resort - they were looking for ~$32K - no way they are getting this.

Do you plan to attempt to sell them on your own?
If not, there are TS brokers that can be the best for selling these as they have value (but not nearly what you paid - if you weren't aware of this - sorry...). I luckily rescinded an WKORVN OF for $74K (thanks to TUG) and bought thru a TS broker who is on TUG (Tugger Syed)

I think the ROFR has been running in the low to mid $20K - but may want to verify.
IMO - I would go with a broker like Syed - he knows the market. They charge a fee of course - but compared to the hassle - probably worth it. Especially if you are not comfortable selling on your own.

Also be aware - that any ESCROW needs to be done by a HI Escrow Company.

Added - I just checked. The lowest WKORVN OF on RedWeek is listed at $25.5K. Many owners looking to sell are deluding themselves in regards to price. Luckily these prices are higher than a few years ago. OF just had their SOs increased in case you were not aware.

Also - you may want to reserve a 2017 week now (high-season) - if the buyer want to change they can do as long as 8-12 months in advance. So reserving as early as possible gives better flexibility.
 
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Laceymg75

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Thank you for your response - we are well aware that we won't get anything near what we paid! (drinking and timeshare presentation DO NOT mix! lol). We are thinking that going through a broker will be the easiest way to go about it - does anyone know what percentage they take for their fees?
 

LisaRex

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Thank you for your response - we are well aware that we won't get anything near what we paid! (drinking and timeshare presentation DO NOT mix! lol). We are thinking that going through a broker will be the easiest way to go about it - does anyone know what percentage they take for their fees?

A good chunk, I'm afraid. Several thousand dollars anyway.

FYI, when I sold my WKORV-N OF unit, I listed it for sale on Redweek.com (ad cost ~$60), and lo and behold, agents came to me with buyers! Most asked if I would split his commission, which I refused to do. Instead, I said that in order for me to sell, I had to be given a check for x dollars after all was said and done, and how they arrived at that number was up to them. My all-in price was ~$2k less than my listed sales price, IIRC, so I did negotiate a bit. (You have to price it a bit higher than you expect to get because most people want to negotiate.) The agent then handled the paperwork, so I figured it was a win-win for both of us.

FYI, since OF SOs are increasing from 148,100 to 176,700 in 2017, you should bump up your sales price accordingly. I want to say the going rate for the north side was around $28,000 last time I checked, but that was BEFORE the SO bump. So $32,000 may be a good number.
 

taterhed

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Westin WKORV OFD
Marriott's Grande Vista
Worldmark x2
SVV Bella 81k
When I was researching a year ago, I think the last reliable ROFR number I saw was around 24k or so. With the change in SO's in interest in the new resort etc... I wouldn't doubt that the number is now 10-20% higher than 2014. (or more!)

Good luck.

I can put a good word in for both SethNoc (Samuel Rodrigez) and Syed. I didn't buy from Syed, but his office (actually him, I think) was very helpful and easy to work with as a potential buyer.

Good luck! and post the final sales data in the ROFR thread to help others.
 

jaime.ferro01

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Re: Selling of timeshare

Hi Lacey! Bumped into your post, and experienced the same thing a few years ago. I also had problems selling my timeshare, and didn't have any idea how. Luckily, I found this: http://tugbbs.com/forums/showthread.php?t=44
It'll help you with almost all the details that you'll need with selling your timeshare. Hope this will help you too!
 
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