Sellmytimesharenow

[Bcwells1]

We are wanting more points to add to the 84k that we have now. Wyndham wants 23k to get another 105k pts.. I don't have that much money to shell out at this time. I found a site called sellmytimeshare now.

Found a time share that I am interested in but I have no idea if this is a scam or a labor site or not. Has anyone made a purchase for here. Looking for some guidance please. Thank you

 

[Linden]

Don't know what type of points your looking for, but I would look at Sumday Vactions. They have several Club Wyndham Access point contracts for sale. Search inventory then Louisiana, New Orleans. Hope this helps.

 

[Bcwells1]

Also, wanted to add that I have Wyndham access and the time share that I want to purchase is Wyndham access as well.

 

[Bcwells1]

Don't know what type of points your looking for, but I would look at Sumday Vactions. They have several Club Wyndham Access point contracts for sale. Search inventory then Louisiana, New Orleans. Hope this helps.

Thank you

 

[Linden]

Forgot to say, Welcome to Tug!

 

[Bcwells1]

Thank you very much

 

[Panina]

We are wanting more points to add to the 84k that we have now. Wyndham wants 23k to get another 105k pts.. I don't have that much money to shell out at this time. I found a site called sellmytimeshare now.

Found a time share that I am interested in but I have no idea if this is a scam or a labor site or not. Has anyone made a purchase for here. Looking for some guidance please. Thank you

Welcome to Tug.

Sellmytimesharenow has very high closing costs/fees. I once pursued a listing and they would not present an offer to the seller to help with these closing costs/fees making me think the seller has no idea they charge it.

I personally would not buy from them unless I could not find what I want elsewhere. Between Tug marketplace, Redweek, Sumday etc you should be able to find a good deal.

 

[echino]

They charge the sellers large upfront fees to list their timeshares, and then also try to charge buyers inflated closing and transfer fees. Not strictly a scam, just a rip off.

 

[dayooper]

There's at least 2 Wyndham access points on TUG right now. One every other year even 168,000 for $500. There is another for 405,000 annual access points for $2300. Both are offering free closing and transfer. There may be more Wyndham access points in the Marketplace, but I'm not well enough versed in Wyndham to know what are or aren't access points.

 

[Bcwells1]

Thanks for the advice, very much appreciated

 

[Crafty71]

They charge the sellers large upfront fees to list their timeshares, and then also try to charge buyers inflated closing and transfer fees. Not strictly a scam, just a rip off.

+1. My opinion exactly. Better deals can be found elsewhere...

Cheers!

 

[RLS50]

I used to have a very negative opinion about SMTN.

But as a Buyer we recently had 2 very positive experiences with SMTN (our first purchases ever with them).

First off the agent we dealt with was excellent, and then the closing process was very professionally managed. The closing agents for SMTN are very good at communicating and staying on top of the transfer process. And they are easily reached with any questions.

Why did we use SMTN? The properties we purchased were not available anywhere else. We found exactly what we were looking for and made very fair market offers. Both offers were eventually accepted.

Yes, closing and transfer costs are around $1,000, but if you just factor that when making an offer, it doesn't have to be a show stopper.

After our recent experiences, I personally would not hesitate to use SMTN in the future as a Buyer.

Although I think they probably make more sense as an option for units / weeks that are on the more expensive side even when it comes to resale. I am talking weeks / properties where the resale cost is likely between $5k and $25k no matter where you find them listed (think peak summer beach / winter ski weeks at higher end properties).

 

[Panina]

Yes, closing and transfer costs are around $1,000, but if you just factor that when making an offer, it doesn't have to be a show stopper.

After our recent experiences, I personally would not hesitate to use SMTN in the future as a Buyer.

I saw something that could work for me again with them. It took 6 days for them to reply but this time I actually got a nice professional agent . Last time the one I spoke to was unprofessional and nasty. This one will present any offer.

I was quoted closing costs higher then the $1000 you paid, breakdown is
$699 for recording and deeding
$349 admin fee
$500 broker fee
Total $1548
Plus resort transfer fee and estoppel fee.

He was honest and said sellers usually will not pay the closing end as they already paid to list it.

 

[RLS50]

I saw something that could work for me again with them. It took 6 days for them to reply but this time I actually got a nice professional agent . Last time the one I spoke to was unprofessional and nasty. This one will present any offer.

I was quoted closing costs higher then the $1000 you paid, breakdown is
$699 for recording and deeding
$349 admin fee
$500 broker fee
Total $1548
Plus resort transfer fee and estoppel fee.

He was honest and said sellers usually will not pay the closing end as they already paid to list it.

That is interesting. I have never been quoted a closing price that high from SMTN ever? Although we did purchase 2 properties thru SMTN, we have inquired over the years on several more properties we never acted on. All the previous quotes, and what we recently paid were all around 1,100ish?

In fact we were quoted and we eventually paid $1,098 twice. I am wondering if he creatively added the $500 broker fee for himself? We were never quoted or charged that. I still have copies of our Buyer's closing statements.

Here is what we were charged...

Closing Fee = $499
Deed Recording Fees = $150.33
Resort Estoppel Fee = $50
Administrative Fee = $349
Resort Transfer Fee = $50

 

[Panina]

That is interesting. I have never been quoted a closing price that high from SMTN ever? Although we did purchase 2 properties thru SMTN, we have inquired over the years on several more properties we never acted on. All the previous quotes, and what we recently paid were all around 1,100ish?

In fact we were quoted and we eventually paid $1,098 twice. I am wondering if he creatively added the $500 broker fee for himself? We were never quoted or charged that. I still have copies of our Buyer's closing statements.

Here is what we were charged...

Closing Fee = $499
Deed Recording Fees = $150.33
Resort Estoppel Fee = $50
Administrative Fee = $349
Resort Transfer Fee = $50

Maybe this is a new way for them to make more money. Take it from both sides, seller and buyer. Ultimately I did not get the week from them and I told them because closing fees were too high. This is the second time within the year by two different agents for two different weeks I was told closing fees this high. Sad, as if the owners had it anywhere else listed, I would have found it and it would have been sold.

 

[RLS50]

Maybe this is a new way for them to make more money. Take it from both sides, seller and buyer. Ultimately I did not get the week from them and I told them because closing fees were too high. This is the second time within the year by two different agents for two different weeks I was told closing fees this high. Sad, as if the owners had it anywhere else listed, I would have found it and it would have been sold.

Unfortunately if the properties you are interested in on SMTN are realistically not worth alot...say less than $5,000...it may be hard to work out a deal with the Buyer where you can factor in the excessively high closing costs and still make the deal work. It really all depends on if SMTN has a specific unit type / unit location / unit week you have been looking for but can't find anywhere else. Mainly we have found that the key to SMTN is finding a good agent who understands what the properties are actually worth and willing to engage the Sellers with legitimate offers and explain those legitimate offers to Sellers (even if that truly legitimate offer based on market comps is many thousands less than the crazy listing prices on most units).

For the properties we purchased, in one case the Seller wanted out and was willing to negotiate on price so we were able to make the added closing costs still work. So while we paid the closing costs, we reduced our offer accordingly and the Seller was willing to accept less. In the other case the property we purchased was a very rare unit during the exact prime summer beach week we needed and so the purchase price was expensive enough to make the closing costs of $1000 almost immaterial. In both instances the same agent from SMTN we worked with was excellent in brokering the agreements.