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Timeshare Warehouse

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rfgcc

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Hello...New to this group and new to timeshares in general! First thanks to all! You are great! I have spent hours reading through different discussions and boards and what a wealth of info!! :clap:

One valued piece of info I learned was not to buy a timeshare from the actual company. So yesterday I went on ebay and found a listing for Bluegreen points 15000 for $1 offered by John of Timeshare Warehouse. I saw on an older discussion warning about Timeshare Warehouse and a guy named John... and I am grateful that I read it.

My question: is it actually possible to purchase a timeshare resale for around $1? Or should I be leery of these types of listings. Thanks!
 
There are plenty of timeshares for $1 but you should be very leery of any timeshare purchase no matter what the price is.

You need to know how much that timeshare is worth, both to you and to the liquid market. Most $1 timeshares are worth much less than $1 and therefore are very difficult or expensive to get rid of.

For any you are considering you want to compare the maintenance fees with how much it cost to stay there for a rental or any special deal that is available. This is just the first step.

Most timeshares are worthless and a burdensome liability. Only around 5% of timeshares have any real value. It takes some time consuming study to understand what to buy and how to properly use it.

Buying where you want to stay is good advice for someone not wanting to work too hard at it. A point system can be a decent option in theory because you have flexibility but you still don't want to pay more than the rental value which can happen.
 
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Can you buy TSs for a buck? Absolutely. A lot of us have done just that. Look out though. Some are not even worth that. Case in point: a ski resort in April or Oct. A beach resort in winter. Northern Golf place in Feb. You get the Idea.

It is possible to get some very nice ones, but usually, someone else will see some value too. You won't get those far a buck.

I don't know enough about Bluegreen to give a value judgement, but several TUGgers are owners and like them. I like 'mini' systems in general for inexpensive exchanging.

Jim
 
There are a lot of factors that can make a timeshare good or bad. Location, TS chain, season, amenities, maintenance fee, etc. I think that the purchase price of a resale unit is not necessarily one of the top 2 or 3 factors.

If you pay $1 for a timeshare that you use for the next 20 years, or you pay $2000, the difference in the amortized cost of the purchase is not terribly significant. During that 20 year period, you may be spending $1000 a year in Maintenance fee or $20K in total. So the initial purchase price of the lowerto-medium-end units isn't really a huge driver.

Now, if you were talking about purchasing a $30,000 timeshare, that would be a different situation.
 
rfgcc said:
..My question: is it actually possible to purchase a timeshare resale for around $1? Or should I be leery of these types of listings. Thanks!
Click to expand...

Yes it is possible and yes you need to be careful.

I know this is repeating what the others have said but it's important.

Many of us have paid less than zero for our units. How can that be you ask?

When you pay $100 and they throw in a years usage and the closing fees is how.

Once you know what you want and start to look on eBay I always suggest to print out the entire auction. I have seen things in print that I've missed on the screen.

Also be very careful of who you buy from. I stay away from "private" auctions and any seller who does not take credit cards for payment.
 
rfgcc said:
Hello...New to this group and new to timeshares in general! First thanks to all! You are great! I have spent hours reading through different discussions and boards and what a wealth of info!! :clap:

One valued piece of info I learned was not to buy a timeshare from the actual company. So yesterday I went on ebay and found a listing for Bluegreen points 15000 for $1 offered by John of Timeshare Warehouse. I saw on an older discussion warning about Timeshare Warehouse and a guy named John... and I am grateful that I read it.

My question: is it actually possible to purchase a timeshare resale for around $1? Or should I be leery of these types of listings. Thanks!
Click to expand...

If you are specifically interested in purchasing Bluegreen you may want to join the Bluegreen yahoo group. They are very active and have a lot of experience with the product.

If you don't know exactly what you want you should hang out here and ask questions and research a couple of months minimum before jumping into anything.
 
Thank you EVERYONE who has replied! Again, I am learning so much and I have seriously read every thread!

We seem more inclined to lean towards the point system. While we are getting up in age, my husband and I are not yet at the age of retirement. However, our work schedules are very flexible which makes our traveling times random and sometimes spontaneous.

Our daughter has the DVC that has points, but we are not super Disney fans. Once every other year is more than enough from us.

I have another question: What is an estoppel letter? I have read that when some people buy timeshares online they may request an estoppel letter.

Thanks again people!!:wave:
 
We are also able to travel on short notice and enjoy points in a 'mini' system. You should consider one that has resorts in your geographical- or at least areas you WANT and can get to easily. The advantage here is low cost getaways. If you have to, for instance just exchange through RCI, there is a $209 charge for EACH exchange. On top of the membership fee AND your MF! So much for cheap vacations. It's one thing to splurge on a trip to Hawaii, but quite another for a 4 night getaway to Branson.

As to Estoppel, here's Brian: http://www.tugbbs.com/forums/showthread.php?t=204536&highlight=estoppel

Oh, and if you want to check out various resorts, TUG membership ($15/yr) gets you access to thousands of reviews of resorts worldwide by TUGgers.

Jim
 
Thank you!! I will look up that estoppel forum! I am a TUG member as of yesterday. Paid my $15 year dues. I did notice that on this posting that I am listed as a guest. I have to look into this! Thanks again! :)
 
rfgcc said:
Thank you!! I will look up that estoppel forum! I am a TUG member as of yesterday. Paid my $15 year dues. I did notice that on this posting that I am listed as a guest. I have to look into this! Thanks again! :)
Click to expand...

You'll get an email with a code and instructions where (I think- in the user CP in the blue stripe above) to put it.
 
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