Absolutely need to sell our timeshare

[TsFlunky Junior Member Find all posts View Profile Close TsFlunky]

Need to do it quickly, easily and with the least amount of hassle. We don't want to pay another person to sell it for us, unless it's with 100% guarantee for a quick sale.

We own a 3 bedroom lock out in the Westgate Lake resort <yes, I know, stop snickering> usable on even years. Which as we're going into 2011 will not be a good selling point, but as I said it needs to go. We can use any week we want, providing there's availability and aren't tied to any specific week.

When we bought it back in 2005 we thought we'd use it a lot more then we have, however in all this time we've only used it once. And now my Dh is no longer working, money is too precious to waste it on this albatross.

What's the best, quickest way to sell a time share? I've tried finding comparable places on Ebay to get a general idea on how to price it but am clueless.

If anyone can give me pointers I'd appreciate it.

Thanks

[Keep Traveling Member Find all posts View Profile Close Keep Traveling]

Ts worth about $1 if you pay closing costs

Thats the reality if you owe on it you are out of luck to sell

Kt

[lawren2 Malibu Beach Barbie & A Super Moderator Find all posts View Profile Close lawren2]

Try to reserve time during school holidays and place ads for rent on low/no cost sites. You could at least be able to recoup some of your costs ie maintenance fees.

The other answer is learn how to use it and enjoy it because you are not going to be able to sell it for any kind of real $.

[timeos2 Senior Member Find all posts View Profile Close timeos2]

Need to do it quickly, easily and with the least amount of hassle. We don't want to pay another person to sell it for us, unless it's with 100% guarantee for a quick sale.

We own a 3 bedroom lock out in the Westgate Lake resort <yes, I know, stop snickering> usable on even years. Which as we're going into 2011 will not be a good selling point, but as I said it needs to go. We can use any week we want, providing there's availability and aren't tied to any specific week.

When we bought it back in 2005 we thought we'd use it a lot more then we have, however in all this time we've only used it once. And now my Dh is no longer working, money is too precious to waste it on this albatross.

What's the best, quickest way to sell a time share? I've tried finding comparable places on Ebay to get a general idea on how to price it but am clueless.

If anyone can give me pointers I'd appreciate it.

Thanks

There is virtually no value to it. As someone said getting a dollar & closing costs is considered a good deal these days. We have been trying to sell a week at Wastegate for over 3 years and not so much as a nibble in months (we had a few back a few years ago but even those never followed up despite practically a give away "price".)

The best you can hope for is someone to take the obligation for future fees off your back. But it isn't easy to find anyone willing to deal with/own a Wastegate anymore. It (buying Wastegate even at resale) stands as my only regret in my timeshare history. Once we get it out of our portfolio all will be well for us.

Good luck with a sale. Don't pay anyone money to take it UNLESS they are actually taking ownership of the deed from you. Paying $3-4K to a place that only turns around and tries to unload it for $1 guarantees you nothing & you may find you wasted $3-4K and STILL own the darn thing. Don't fall for those "offers'.

[TsFlunky Junior Member Find all posts View Profile Close TsFlunky]

Has anyone had luck renting their week out instead of outright selling it?

We simply can not make the monthly payment for the foreseeable future. With Dh no longer working every penny he has coming in will be going to keeping us afloat. Even with me going to work full time sending a chunk of change to pay for a unit we'll never use just seems silly.

In a situation such as this, what happens? I know it'll hurt our credit not paying, but if it's continuing to pay the mortgage on the timeshare or starving, I'm going with feeding the kids.

[chriskre Super Moderator Find all posts View Profile Close chriskre]

I think your answer is obvious.
Feed your kids.

[lawren2 Malibu Beach Barbie & A Super Moderator Find all posts View Profile Close lawren2]

Has anyone had luck renting their week out instead of outright selling it?
We simply can not make the monthly payment for the foreseeable future. With Dh no longer working every penny he has coming in will be going to keeping us afloat. Even with me going to work full time sending a chunk of change to pay for a unit we'll never use just seems silly.

In a situation such as this, what happens? I know it'll hurt our credit not paying, but if it's continuing to pay the mortgage on the timeshare or starving, I'm going with feeding the kids.

Of course. People rent the timeshares that they own all the time. The key is to have reasonable expectations as to how much it will fetch.

You have the bonus of being able to split the unit into a 2BR and a 1BR.

[joycapecod Silver Contributor Find all posts View Profile Close joycapecod]

Of course. People rent the timeshares that they own all the time. The key is to have reasonable expectations as to how much it will fetch.

You have the bonus of being able to split the unit into a 2BR and a 1BR.

But as written they also seem to still owe on the timeshare. It is the monthly mortgage payments, if I read this correctly, along woith the annual fees that they cannot pay. Renting would be an option IF the unit was paid for. I don't think it is.

Joy

[lawren2 Malibu Beach Barbie & A Super Moderator Find all posts View Profile Close lawren2]

But as written they also seem to still owe on the timeshare. It is the monthly mortgage payments, if I read this correctly, along woith the annual fees that they cannot pay. Renting would be an option IF the unit was paid for. I don't think it is.

Joy

I think renting is the least onerous option available to them.

A) They can't sell it or give it away.
B) Default is not attractive but may be necessary if the choice is food on their table or paying the mortgage/maintenance fees.
C) Rent on the units might help and won't hurt the situation. There are free listing sites like here and craigslist.org etc

The problem is use is not until 2012 so the carrying charges go on and on. The good news is use isn't until 2012 so if they are current they can book a school holiday week.