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There are all kinds of reasons why timeshares are listed on Ebay. One of the major player groups are what we call the postcard companies. They promise people to rid them of their timeshare and usually sell them a worthless vacation club for 3 or 4 K as a prerequisite for taking away their timeshare. The problem with owning timeshares is that life changes and sometimes the timeshare no longer fits or becomes a liability with it's annual fees. Fees are set by the resort and I have never heard of any resort that allowed them to be negotiable.
The Reef was almost or sort of in the Royal Resorts family (at one point called itself the Royal Reef) and that's probably where the payback or residual value came from. The Royals did it with all their resorts and even paid out the full residual amount when their first 30 yr RTU expired (at Club International de Cancun), though in many cases in several payments. Their second resort,the Royal Mayan, which will reach it's end of RTU next year will be sold at auction and the proceeds less sales expenses will go for that residual payback. The amount of the stated residual (usually the original sales price) will be more than that estimated sales price, so an estimate of 40-50% of the residual is expected to be paid. Some of the owners who believed they would get the full residual amount back or more are not at all happy and some are even crying foul. The point is that the residual was never guaranteed and if you did the math, not likely to be paid in full. It was a nice idea and something to look forward to, but never guaranteed.I sold all my Royals in the middle of the last decade, so my interest in the end of the RTU is mainly to see what happens. The Reef may be another thing entirely as I have always been suspicious of the developers and their relationship with the Royals and even called them out on it on an internet forum. The name Thompson seems to ring a bell, but it was around the turn of the century, so I could be mistaken.
The Reef was almost or sort of in the Royal Resorts family (at one point called itself the Royal Reef) and that's probably where the payback or residual value came from. The Royals did it with all their resorts and even paid out the full residual amount when their first 30 yr RTU expired (at Club International de Cancun), though in many cases in several payments. Their second resort,the Royal Mayan, which will reach it's end of RTU next year will be sold at auction and the proceeds less sales expenses will go for that residual payback. The amount of the stated residual (usually the original sales price) will be more than that estimated sales price, so an estimate of 40-50% of the residual is expected to be paid. Some of the owners who believed they would get the full residual amount back or more are not at all happy and some are even crying foul. The point is that the residual was never guaranteed and if you did the math, not likely to be paid in full. It was a nice idea and something to look forward to, but never guaranteed.I sold all my Royals in the middle of the last decade, so my interest in the end of the RTU is mainly to see what happens. The Reef may be another thing entirely as I have always been suspicious of the developers and their relationship with the Royals and even called them out on it on an internet forum. The name Thompson seems to ring a bell, but it was around the turn of the century, so I could be mistaken.
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