Should i sell my timeshare?

[Leslie Ann Carabuena]

We have an HGVC Grand Waikikian timeshare 7200 points odd year week7 that we want to get rid of. Maintenance fees are 1300+tax every odd year. Cost about 23k. Someone is willing to buy for 5500. Is this the best we can get. Or are we better off trying to rent out the week to get our money back over the years. Were not big travelers and regretted buying it ever since (but not in time to rescind )

 

[VanX]

Sounds like you should sell.

If your freedom from having to try to rent it out every year and have the memory linger of the regret that you have of the original purchase is worth 5K in your pocket then jump at it.

What happens if the maintenance fee goes up or you can only rent for less than the MF?

“Bird in the hand” they say.

 

[vacationhopeful]

USE IT or DITCH IT.

Renting is NOT a game play but a 'space holder' for once every ten year ... to do another thing. Other thing might be a ONE time Alaskan Cruise, 3 week European tour or a child's wedding.

Also, a "buyer in hand" for a decent price .... good thing.

So take THOSE dollars from the sale, plus each year's MFs as they come due and keep them in YOUR BIG vacation account .. every 5 years, spend those DOLLARs for a GREAT vacation.

 

[bogey21]

If you can get $5,500 for sure, sell...

George

 

[bizaro86]

That's a pretty nice week, but that is also a pretty good price. If you never use it and have a low-hassle sale lined up, I'd take it.

Have you successfully rented it in the past? I

 

[RX8]

I say gather more information first before making the sale.

There are two respected brokers mentioned often here - Judi Kozlowski and Seth Nock. Looking at one of their sites I see two identical EOY 7200 point contracts and both are listed for significantly higher than $5500. Granted, a listed price is not the same as a selling price but if you can sell through them and come out the same or even a little higher you would have saved yourself the hassle of selling on your own. While you can sell it on your own I believe I have read that the state of Hawaii may have some unique requirements. Also keep in mind that HGVC has ROFR and any sale must be presented to them first. A broker will handle all of this for you. I suggest to at least contact one of them to get some ideas on what you can expect with net proceeds going through them. Doesn’t hurt to ask.