rmiller1985
newbie
I'm looking to get rid of my parents' timeshare, 182,000 points at the Wyndham Grand Desert in Las Vegas. Here's the situation:
My mom got taken in by Fairfield back in the early 2000s. When she told me she'd bought a timeshare, my first reaction was to ask her if she had a few days to get out of the deal, but she sounded so hopeful that she'd be able to get my dad to travel once in a while that I tried to be supportive. I so wish I'd listened to my gut, but... water under the bridge.
The original contract was for 154,000 points (UDI). Some time later (a year? several years?) they suckered her into another $5k or so for an additional 28,000 points (also UDI). So the total is 182,000. Maintenance fees are currently just shy of $1k/yr.
The timeshare has been used over the years, and my mom was always happy whenever my sister or I would be able to use it. But it's always such a hassle trying to find specific weeks with availability at resorts where we want to go, especially when neither of us is interested in making vacation plans 10 months in advance. We also feel like the cost of accommodations where we want to go, when we want to go, is generally going to cost less than (or not much more than) the maintenance fees, and there would be far more flexibility.
My mom died last October. And my dad has Alzheimer's, and is in no condition to travel (not that he ever wanted to anyway); I'm sure that he also has no idea what a timeshare is, or that he owns one. I have Power of Attorney for my dad.
Neither my sister nor I is interested in keeping the timeshare. Reading here, I just found out about the Wyndham Ovation program, and this seems like a hassle-free (hopefully) way to dispose of it.
But I also looked briefly at the TUG Timeshare Marketplace and found a couple of listings for points at the Grand Desert, and I found a listing on eBay as well (that wasn't $1). So although the timeshare isn't worth anything to us because we don't want to use it, we'd be happy to sell it and put the proceeds in the trust account that we're managing for my dad, to pay for his current and future care.
My question: how do I find out what this timeshare is worth on the secondary market? The fact that someone lists something for sale at $1,000 doesn't mean that it's worth that; they may get an offer of $100 and take it, and I'd never know that by looking at the ad. Is there any reliable way to know what the points are worth?
My sister and I and our spouses are perfectly happy with the concept of a "convenience fee": if we're only going to be able to get $100 for this thing, and in the process have to go through the hassle of listing it, and dealing with closing, etc., we'd much rather just go through Ovation (hopefully), sign the paperwork, and go on our way. But I don't want to be leaving thousands of dollars on the table that can go towards my dad's care, and I'd be willing to deal with hassles for that kind of money.
So... any advice is appreciated.
Cheers,
Rich
My mom got taken in by Fairfield back in the early 2000s. When she told me she'd bought a timeshare, my first reaction was to ask her if she had a few days to get out of the deal, but she sounded so hopeful that she'd be able to get my dad to travel once in a while that I tried to be supportive. I so wish I'd listened to my gut, but... water under the bridge.
The original contract was for 154,000 points (UDI). Some time later (a year? several years?) they suckered her into another $5k or so for an additional 28,000 points (also UDI). So the total is 182,000. Maintenance fees are currently just shy of $1k/yr.
The timeshare has been used over the years, and my mom was always happy whenever my sister or I would be able to use it. But it's always such a hassle trying to find specific weeks with availability at resorts where we want to go, especially when neither of us is interested in making vacation plans 10 months in advance. We also feel like the cost of accommodations where we want to go, when we want to go, is generally going to cost less than (or not much more than) the maintenance fees, and there would be far more flexibility.
My mom died last October. And my dad has Alzheimer's, and is in no condition to travel (not that he ever wanted to anyway); I'm sure that he also has no idea what a timeshare is, or that he owns one. I have Power of Attorney for my dad.
Neither my sister nor I is interested in keeping the timeshare. Reading here, I just found out about the Wyndham Ovation program, and this seems like a hassle-free (hopefully) way to dispose of it.
But I also looked briefly at the TUG Timeshare Marketplace and found a couple of listings for points at the Grand Desert, and I found a listing on eBay as well (that wasn't $1). So although the timeshare isn't worth anything to us because we don't want to use it, we'd be happy to sell it and put the proceeds in the trust account that we're managing for my dad, to pay for his current and future care.
My question: how do I find out what this timeshare is worth on the secondary market? The fact that someone lists something for sale at $1,000 doesn't mean that it's worth that; they may get an offer of $100 and take it, and I'd never know that by looking at the ad. Is there any reliable way to know what the points are worth?
My sister and I and our spouses are perfectly happy with the concept of a "convenience fee": if we're only going to be able to get $100 for this thing, and in the process have to go through the hassle of listing it, and dealing with closing, etc., we'd much rather just go through Ovation (hopefully), sign the paperwork, and go on our way. But I don't want to be leaving thousands of dollars on the table that can go towards my dad's care, and I'd be willing to deal with hassles for that kind of money.
So... any advice is appreciated.
Cheers,
Rich