Selling Timeshare (Tahiti Village) not fully paid for

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

Hi All:
First, it is great to have found this website!
The short version of the story is: My wife and I bought the one bedroom suite at Tahiti Village phase II. After discovering too many lies we where told while attending the sales pitch my wife got so pissed that she wants to sell or sell. We just started paying but some money that we are going to receive next February will help us to pay it all.
Now I'm trying to sell this thing even for a lot less money that we bought it for (a happy wife means a happy life and she hates that place). We live in Vancouver (Canada) and we don't know where to start. We are afraid of all the scams and also because we don't know what are the steps/paperwork required. I told her we could place it on eBay (although we have paid just around to $2000 from the ~$17,000) but we don't know what are the real state rules for Vegas.

Some advise please?

Thanks!

Carlos

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

Hi All:
First, it is great to have found this website!
The short version of the story is: My wife and I bought the one bedroom suite at Tahiti Village phase II. After discovering too many lies we where told while attending the sales pitch my wife got so pissed that she wants to sell or sell. We just started paying but some money that we are going to receive next February will help us to pay it all.
Now I'm trying to sell this thing even for a lot less money that we bought it for (a happy wife means a happy life and she hates that place). We live in Vancouver (Canada) and we don't know where to start. We are afraid of all the scams and also because we don't know what are the steps/paperwork required. I told her we could place it on eBay (although we have paid just around to $2000 from the ~$17,000) but we don't know what are the real state rules for Vegas.

Some advise please?
Thanks!
Carlos

You'll be lucky to get 25% of what you paid. My advice is to learn how to use your timeshare, that's the only way to get your money back. You can't sell it like a developer, you can't put Alan Thicke on national TV and offer free trips to Vegas. Whatever, don't pay anyone anything to sell it for you, they'll tell you that you can get $20,000 for it, once they have your money they'll forget you.

[Glitter Brunello Super Moderator Find all posts View Profile Close Glitter Brunello]

Welcome to Timeshareforums.

I agree with Spence, stick around and learn how to use/trade it for something you can enjoy. Sorry to echo bad news, but it is going to be near impossible to get someone to relieve you of your payments with so little paid off on an inflated developer price.

And ditto, do NOT give anyone any upfront $ to sell it for you.

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

You need to find a good closing company that know how to deal with TS to do any selling.

But since you have over $15,000 loans, you will very likely end up paying all that money first when you find a buyer and will not expect to see any money back after closing.

Think through this. If you still feel it is worth it (you need look at your MF and do some checking), then you can ask the closing company, and list on eBay (prepare to get only $1 bid or maybe no bid at all).

If you don't put on eBay, prepare to sell it maybe over 2 year time frame. In the meantime, you still need to think a way to use it, or just waste the MF.

As Spense says, it is much easy to learn how to use it. Try exchange it or rent it out or use it to get some cheap rent through different exchange company will bring you more value.

Jya-Ning

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

Great advice from all of the above and I echo the sentiments.

Let us help you turn this into a more pleasurable experience. Where would you like to go? At what times of the year can you travel?

Many have been caught in the developers lies and have still learned how to enjoy timesharing in some way or form. The concept must have appealed to you or you would not have bought.

to TS4Ms.

[richardr Member Find all posts View Profile Close richardr]

All of the above are right.

Timeshares can get you much better than hotel accomodations the world over. You are not the first & won't be the last to have paid developer's prices. It takes some of us longer to learn .Be thankful you found this site so soon.

Read & learn from info on this site. We started with a one bedroom blue week & were able to trade to 2 bedroom units with much better
weather than our dismal pre -ski season week 48 at Collingwood , Ont.

Timeshares can be great.

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

At this point you have a liability in that it will cost you about $ 10k or more to unload/sell the timeshare. Use it and pay it off-then if you still hate it - sell it.

[dale7 Senior Member Find all posts View Profile Close dale7]

One of things that all the people here are good at is teaching how to trade so that you never go back there again and use what you have to go to other timeshares. Sell it if you have to.

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

As all the others have stated, I'd learn how to trade through I.I. and enjoy all the other timeshare's you can get into with it. That and maybe use I.I. Getaway Vacations which are often less expensive than renting a hotel room and provide much nicer accomadations.

I'd try to turn your wife from sell to exchange. Otherwise you'll likely lose a ton of money. Spence was generous IMO when he said you'd be lucky to get 25% of what you paid. Vegas is overbuilt with timeshares that are off the strip. Just becasue Tahiti Village as a LV Blv. address doesn't mean it's on the strip. Off strip timeshares 2 bedroom timeshares generally sell on E-bay for less than $2,000. 1 bedrooms go for even less than that. My bet is you'll be doing good to recover 5% of your original price on this property.

Yes, I have seen Tahiti Village go for much higher on E-bay but, I've seen the same week come up for sale over and over again indicating to me that the sale never closes or it's a scam by the developer to make people think the resale is closer to their retail prices.

Give it a couple of months to cool off. Then start learning how to use what you've purchased. Timeshare vacations are wonderful if you take the time to learn how to use them. You've already made one mistake. Cutting off your nose to spite your face would be an even greater mistake in my opinion.