Timeshare Worth

[Teresa Sells]

I have a 3 bedroom lockout timeshare at Westgate Town Center for every year, All season. We don't use it every year, so I was thinking about selling it. It is paid, nothing is owed on it.

My problem is when I look at how much others have sold the same timeshare at the same resort, it is disappointing. If I am only going to get $1000 for it, I might as well keep it and use it.

If I know TRULY what I can get for it, depending on how much it is, I may put it up for sale. I just don't want to deal with scammers and hassle with trying to sell it if I am only going to get $1000 or less out of it.

Is there a better way of finding the true worth of my timeshare besides looking at what others are selling theirs for? I have seen prices from anywhere from $700 to $35,000 and we paid $36,000 for ours from the resort. Thanks

 

[Passepartout]

The money you paid for it is gone. It's worth much closer to $1000 than what you paid. Maybe even less. If you don't use it, consider renting the week to recoup your cost. If you join TUG, ($15/yr) you have listing privileges in the Marketplace (dark blue stripe above here). One thing about Wastegate (as they are known here) is they strip almost all the perks from resale owners- like they can only exchange within 45 or 60 days of move-in. So as a retail owner, you can offer your rental customers things that resale owners can't get.

For no more than you can expect to get by selling it I'd keep it and rent the unused weeks. It's a nice resort, and it's just Wastegate's predatory sales practices that are despicable.

Jim

 

[TUGBrian]

westgates almost universally have little to no resale value unfortunately.

http://www.tugbbs.com/forums/showthread.php?p=1780344#post1780344

 

[theo]

westgates almost universally have little to no resale value unfortunately.

Sad but true (and by willful and deliberate design by slimy Wastegate). The severe restrictions imposed upon resale owner reservations alone makes a Westgate ownership essentially worthless in the resale market. It's an indirect (and slimy) way to keep Wastegate owners handcuffed and captive.

OP may be shocked to discover that she would probably have to pay someone to take over that ownership, covering all transfer fees and closing costs --- and maybe even a year of maintenance fees in order to entice a willing new recipient.

 

[Teresa Sells]

Thank you all for your responses.

 

[PigsDad]

I have seen prices from anywhere from $700 to $35,000 and we paid $36,000 for ours from the resort. Thanks

You may have seen weeks advertised for $35,000, but I guarantee none are selling for that. Those ads are either by owners who have no clue, or by scamming companies that charge a huge listing fee upfront with no intention of actually selling your week (they just want the listing fee). Unfortunately it is basically worthless.

Kurt

 

[AwayWeGo]

We are not the top authority on timeshares even though we have been timesharing & TUGGing since 2002, including buying & selling & giving away a few nice & a few so-so timeshares (in addition to enjoying luxury timeshare vacation accommodations at Motel 6 & Super 8 rates).

In our experience, most timeshare deeds (e.g., WestGate) are worth approximately zippity-doodah.

For people who paid anything close to full freight for 1, learning that is harsh. For those who bought resale, it's less shocking.

Not only are most timeshares worthless, many of'm are hard to even give away el freebo. That's what's really harsh.

So it goes.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[Teresa Sells]

We are not the top authority on timeshares even though we have been timesharing & TUGGing since 2002, including buying & selling & giving away a few nice & a few so-so timeshares (in addition to enjoying luxury timeshare vacation accommodations at Motel 6 & Super 8 rates).

In our experience, most timeshare deeds (e.g., WestGate) are worth approximately zippity-doodah.

For people who paid anything close to full freight for 1, learning that is harsh. For those who bought resale, it's less shocking.

Not only are most timeshares worthless, many of'm are hard to even give away el freebo. That's what's really harsh.

So it goes.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[Teresa Sells]

Has anyone heard of "Go Away Tineshare"?

 

[moonstone]

Has anyone heard of "Go Away Tineshare"?

No, but if they are asking anything more than $1. to sell or take your timeshare off your hands -RUN! Most companies offering to list/sell your timeshare are scams! Don't ever pay an upfront fee for that service. If they really want to sell it for you tell them to deduct any listing fees/commission off the sale price.


~Diane

 

[AwayWeGo]

Has anyone heard of "Go Away Tineshare"?

The scammers & rip-off artists change names frequently as way of trying to stay 1 jump ahead of the authorities. So if nobody has heard of some particular company name, it doesn't mean that the same people aren't out there under other name(s) working a biz plan based on bamboozling unhappy timeshare owners by hornswoggling them out of good green money that they thought would get them out of their unwanted timeshare ownership.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[LannyPC]

Has anyone heard of "Go Away Tineshare"?

I haven't. But how did you find out about this company and what are you hoping to accomplish by using this company? From the name, it sounds like one of those despised get-out-of-your-timeshare companies. They will likely charge you thousands of dollars upfront to maybe get you out of your timeshare ownership.

The bad news about such companies is that, at worst, they are a scam. At best, they will charge you thousands of dollars to do what you can do yourself for a lot less money if you're willing to put forth a little time and effort.

Keep in mind also that Westgate has a program in place where it will take back a certain, limited number of timeshares if you pay the deed back fee (around $900). This will be a lot cheaper than any of these so-called timeshare exit companies and it will also be a clean, relatively painless transfer.

 

[chapjim]

Has anyone heard of "Go Away Tineshare"?

Check out a string on this forum titled Primo Management Group, which everyone except the purported part owner considered to be a scam. This guy was one of the more persistent such people.

 

[TUGBrian]

you are the perfect target for scammers unfortunately.

those who have not yet realized their timeshares have no resale value will always be the most susceptible to scammers who tell you exactly what you want to hear (that its worth a fortune if you just let them sell it for you)...

its far easier for me to convince you to pay me hundreds of dollars if I lie to you, vs telling you the truth.

 

[theo]

you are the perfect target for scammers unfortunately.

those who have not yet realized their timeshares have no resale value will always be the most susceptible to scammers who tell you exactly what you want to hear (that its worth a fortune if you just let them sell it for you)...

its far easier for me to convince you to pay me hundreds of dollars if I lie to you, vs telling you the truth.

All true. Unless OP is willing to just keep and use this "product", there is really no other value to be extracted from it (IMnsHO).
OP could become a "landlord" to cover annual maintenance fees, but the landlord / rental exercise is a headache unto itself.

It may (understandably) sicken the OP to "give back" something for which $36k was paid originally, but the slimy Wastegate $900 "deedback ransom" might sadly be the easiest, quickest, cleanest (and least expensive) method by which to just put Wastetgate in the rear view mirror --- permanently.

 

[WinniWoman]

You nailed it in your original post when you said you might as well keep it and use it. Bingo!