What is the best way to sell a timeshare?

[djh13]

Hi. I have had a timeshare now for about 4 years with Westgate. I get to use it every-other year and it's seasonal (during spring & fall). At the time I bought it I thought we would use it more etc. As time has gone on we are realizing that we aren't using it and we are just paying the monthly mortgage payment and the maintenance fees. Basically we are paying a lot for something we don't even use. Honestly we'd just love to sell it... even if we don't make a profit on it, we pretty much just want out. I called Westgate & they don't offer to buy back. Does anyone have any suggestions for me? I know there are scams out there and I realize paying upfront for someone to sell it is NOT good. Any advice would be great. Thanks

 

[timeos2]

Wastegate is a tough sale - less than prime time even worse!

Is the week paid off? You mention "not making any profit" and that is certainly the most likely outcome. In fact, assuming it is paid off, giving it away for the transfer costs & current year's fees (assuming the use is available) may be about all you'll see. If you owe on it forget it. No one is going to take over the payments and, if it's more than a few hundred dollars still due, you aren't going to get enough to pay it off.

Overall timeshare prices are in the toiler and you don't have the best use times and it's at a resort/group many avoid as they are extremely owner unfriendly and it's an EOY. All big negaives for a sale.Sorry for the bad news but we just (finally I think) unloaded what we consider to be our one mistake in timeshares - our resale Westgate. Assuming our transfer completes it will be nearly 4 years since we first offered it to the actual transfer is complete. We sold it for the transfer fees.

Good luck with yours. Offer it here on TUG or at the many other free/low cost timeshare sites. You are correct to NEVER pay an upfront fee as you will lose that money.

 

[linsj]

Here's a good primer on selling a timeshare:
http://tugbbs.com/forums/showthread.php?t=44

Unfortunately, since you still owe money on it, you won't be able to sell it with a loan on it. So consider renting it to get some money out of it. Here's a primer on doing that:
http://tugbbs.com/forums/showthread.php?t=43

 

[djh13]

Thanks for your feedback... I'm new to all this & this is the first timeshare we've ever owned. That is bad news but I'm not totally surprised. Our timeshare is actually where we will own the unit, so we are paying a mortgage payment on it until it's totally paid off. We still owe a couple thousand dollars on it. I did call Westgate and talk about options and they suggested I try and trade my unit for another within the company for another place I would rather go. We own in Park City, UT but are way more likely to go to Vegas. I suppose I should look into trading it so at least we would use it.

 

[Ridewithme38]

You are correct to NEVER pay an upfront fee as you will lose that money.

Can we ammend that to say 'NEVER pay an upfront fee to a timeshare company' because i've seen some crappy timeshares sell quick because of upfront money being offered for the sale....i.e. take this off my hands, i'll pay all fees PLUS $1000 cash

 

[timeos2]

Can we ammend that to say 'NEVER pay an upfront fee to a timeshare company' because i've seen some crappy timeshares sell quick because of upfront money being offered for the sale....i.e. take this off my hands, i'll pay all fees PLUS $1000 cash

OK - change noted! Offering a "buyer" upfront cash can and does sell a hard to move timeshare sometimes.

 

[AwayWeGo]

Trading Or "Trading" ?

I did call Westgate and talk about options and they suggested I try and trade my unit for another within the company for another place I would rather go. We own in Park City, UT but are way more likely to go to Vegas. I suppose I should look into trading it so at least we would use it.

I'm going out on a limb here to suggest that "trading," in WestGate-speak, could well mean giving them your timeshare deed (on which money is still owed) plus lots more money in exchange for a deed to some other WestGate timeshare in another location.

If you do that, you'll be deeper than you already are in timeshare debt. Plus, you'll still be stuck with a WestGate timeshare -- not everybody's favorite around here.

Full Disclosure: We don't own any WestGate timeshares, we have not owned any in the past, & we won't be owning any in the future. Not only that, we wouldn't touch 1 with a 10-foot pole. That's based solely on their reputation for treating owners shabbily -- e.g., unrelenting pressure to buy more-more-more any time you're on the property, also pulling I-I tricks like depositing in your name some el crappo off-season timeshare week even when you are the deeded owner of an el primo high-demand season fixed week.

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

 

[LAX Mom]

The Westgate in Park City is an attractive property at the base of the Canyons ski resort. I don't hear good things about Westgate as a management company, but the Park City units are supposed to be very nice. However in the past year I've seen a couple of Westgate units offered on TUG (Bargain Deals) for free. In fact 2 ads promised to pay all closing costs & transfer fees and they still didn't sell for months. I'm not sure if those are available or not.

Rather than let Westgate talk you into trading your Park City deed & some $$, why don't you deposit it with an exchange company (II?) and try to exchange to someplace you would use it (Vegas?). If Westgate is involved they'll charge you additional $$ (adding to your debt) and probably not give you much for your Park City unit.

 

[timeos2]

Rather than let Westgate talk you into trading your Park City deed & some $$, why don't you deposit it with an exchange company (II?) and try to exchange to someplace you would use it (Vegas?). If Westgate is involved they'll charge you additional $$ (adding to your debt) and probably not give you much for your Park City unit.

NEVER do a retail deal with Wastegate (except a deed back if they offered) or you will lose. Learn to use what you are already paying for and don't even consider paying them more. Wastegates are easy trades (even Park City & Tower of Terror) - no need to own there. We are SO happy to (hopefully) be ending our nightmare with them for good very soon. Our one real mistake in our timeshare choices over 19 years even at a deeply discounted resale.