Time to get out, welcome to the club right?

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

My wife and I purchased a timeshare 5 years ago and are about ready to get rid of it. I am pretty depressed reading the near impossibility of selling it for anything, and find it even worse that many cant even give them away. What we have is a place at mystic dunes(which I see from here has file for ch.11, when it rains it pours) which is a floating week, 2br LO, odd years. Any ideas on how desireable this would be.
We looked into a resale company and saw scam flags were all over, so thought I would float something here to see what was up. Thanks
Kevin

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

Plan to give it away for the cost of closing. EOY is not an easy thing to sell (or give away) and a troubled resort doesn't help.

The market is awash in unwanted timeshares. Be happy if you can find someone to take over your obligation for he fees.

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

thanks, that was the reply I was expecting. Was there ANY time that one could recoup some of the cost associated with TS's? Or has it been a pretty poor purchase from the word go? Weighing the option of holding on to it for the time being to see if this economy will turn around, but if it doesn't matter, maybe the home resort will take it back(wishfully thinking)

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

thanks, that was the reply I was expecting. Was there ANY time that one could recoup some of the cost associated with TS's? Or has it been a pretty poor purchase from the word go? Weighing the option of holding on to it for the time being to see if this economy will turn around, but if it doesn't matter, maybe the home resort will take it back(wishfully thinking)

My son owns a three bedroom LO, every year at Mystic Dunes and he, having been unemployed and underemployed for sometime offered to give it back to them (it is paid for) they are not interested.

I am thinking about paying his fees for the coming year and banking it with SFX as a 1 BR and a 2 BR even though I have had very little luck with SFX to "save" his credit. If nothing else it will give him a year to unload it somehow, someway.

It is a lovely resort, but given the high fees, the economy and the bankruptcy thing it is undesirable to own.

Yes, once upon a time, if you bought right you could get out. But, if you bought from the developer you took a beating unloading weeks. I bought everything I ever owned on the resale market and have gotten out with my clothes on the ones I wanted to unload. I finally gave away a few that just weren't worth owning anymore (at least my owning them). I even paid for the deed and resort transfer to "make them go away."

Joy

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

thanks, that was the reply I was expecting. Was there ANY time that one could recoup some of the cost associated with TS's? Or has it been a pretty poor purchase from the word go? Weighing the option of holding on to it for the time being to see if this economy will turn around, but if it doesn't matter, maybe the home resort will take it back(wishfully thinking)

As recently as 2008 you could get maybe 10-50% of the retail for the best times - 0-10% for off season timeshares. But since then the market has basically collapsed and only the best of the best can bring a maximum of 10-20% and very few of even the best will bring more than $5K. It has become an unbelievable buyers market as there are at least 100 offers to sell for any one willing buyer. Bad time to be a seller but it is what it is.

[Run Fat Junior Member Find all posts View Profile Close Run Fat]

So, I wonder what a person does who is interested in purchasing a timeshare (in the resale market). Maintenance fees are too high at many properties and the value of the TS continues to decrease... I guess just keep renting?

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

The market varies on where you are. The online market, especially eBay, is the worst. I would try to find a local brick and mortar reseller in the area where the timeshare is located who does not charge an upfront fee. They seem to get the best prices in today's market.

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

The market varies on where you are. The online market, especially eBay, is the worst. I would try to find a local brick and mortar reseller in the area where the timeshare is located who does not charge an upfront fee. They seem to get the best prices in today's market.

Why would a BUYER look for higher cost ownership? This may apply to sellers but even for them it is getting less and less likely that a resale buyer won't know about the many sites, including eBay, with "deals" compared to any brokered prices.

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

Why would a BUYER look for higher cost ownership? This may apply to sellers but even for them it is getting less and less likely that a resale buyer won't know about the many sites, including eBay, with "deals" compared to any brokered prices.

The OP is trying to sell, not buy. Read his post. The caption about ''getting out'' should be enough, however.

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

The market varies on where you are. The online market, especially eBay, is the worst. I would try to find a local brick and mortar reseller in the area where the timeshare is located who does not charge an upfront fee. They seem to get the best prices in today's market.

What would one look under? As Im in Michigan and the TS is in the Kissimmee,Fl area, Im relying on the online yellow pages. Thanks. Also, what determines the 'maint' fees? seems those are all over the map too, I wouldnt feel so bad about the ts if the fees werent so high. "The rent is too da** high!"

[1950bing Senior Member Find all posts View Profile Close 1950bing]

I just love this stuff !!!!!
It reads like a good book for me !!
( former owner, no fees )
It is a great day !

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

I just love this stuff !!!!!
It reads like a good book for me !!
( former owner, no fees )
It is a great day !

Classy

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

Classy

Kevin have you tried posting if here and on TUG in the bargain section?
Not sure if you'd get any bites but it doesn't hurt to try and it's free.

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

What would one look under? As Im in Michigan and the TS is in the Kissimmee,Fl area, Im relying on the online yellow pages. Thanks. Also, what determines the 'maint' fees? seems those are all over the map too, I wouldnt feel so bad about the ts if the fees werent so high. "The rent is too da** high!"

Maybe one of the Orlando folks can help you out in finding a brick and mortar office of a reputable timeshare reseller in Orlando. Unfortunately, I am not familiar with the area. You might also call the resort and ask.

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

Prices for virtually all timeshares are now too low to make being/using a broker viable. There are very few that are worth more than a maximum of $5000 with most $2000 or less. The broker fee simply isn't enough to make it worthwhile. Find the resort/ location you want and look for a seller along with the cheapest closing you can do. Paying more for brokers, high closing costs, etc makes no sense today. Buy cheap & enjoy deeply discounted vacations then be ready to sell cheap or give it away when you are done. Very little risk of capital that way and some great resorts out there virtually for the closing.