Selling timeshares

[morgancita Member Find all posts View Profile Close morgancita]

What are the best routes for selling a timeshare, other than the classified section of this site?
Are any of those companies that help you sell to be trusted? It seems like they're not, which means doing it ourselves. Where to begin? We don't want to settle for a price too low, since it's a brand new and excellent place in a prime vacation spot.

Thanks!

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

new, used - the resale value is LOW

What are the best routes for selling a timeshare, other than the classified section of this site?
Are any of those companies that help you sell to be trusted? It seems like they're not, which means doing it ourselves. Where to begin? We don't want to settle for a price too low, since it's a brand new and excellent place in a prime vacation spot.

Thanks!

Sounds like you think you'll get close to retail value. Not going to happen. Minimum discount 50% OFF - if you want a faster sale you'll see 5-20% of retail. If you purchased recently be prepared to take a BIG loss.

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

What are the best routes for selling a timeshare, other than the classified section of this site?
Are any of those companies that help you sell to be trusted? It seems like they're not, which means doing it ourselves. Where to begin? We don't want to settle for a price too low, since it's a brand new and excellent place in a prime vacation spot.

Thanks!

Whatever you do, don't give anyone money upfront to sell your timeshare. If you are looking for a reputable broker, you might get some recommendations here. Ebay is another avenue. Ebay will also give you an idea of its resale value.

If you are talking about the timeshare in Cabo you bought from the developer, be prepared to take a big hit. Timeshares are worse than new cars - with a car the value drops as soon as you drive it off the lot... with a timeshare from a developer, you are paying a lot more than the value to begin with. I would bet that timeshare values are getting pummeled in this economy, btw.

Are you sure we can't help you figure out how to exchange it for vacations you can enjoy?

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

it's a brand new and excellent place in a prime vacation spot.

That's what they all say! Unfortunately PCCs have depressed the market, there is no secondary market for most timeshares. eBay used to be a mark of secondary market value but now most things reflect the fact that the majority of listings are from PCC who need to make nothing, they just need to be rid of it.

[Arb Member Find all posts View Profile Close Arb]

Pcc?

What is PCC?

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

What is PCC?

Post Card Company

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

Post card con-artists.

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

What is PCC?

Post Card Companies send out spam snail mail telling you how they can sell your timeshare. They'll often tell people how much they can get and make them feel great about selling their timeshare. Then, they'll hit you for an up-front listing fee. Usually several hundred dollars. Once paid they'll list your timeshare on their website, along with thousands of other overpriced timeshares, and you'll never hear from them again........unless they want more money.

There's another, special breed, of PPC that's refered to in posts above as depressing the resale market. Many people buy a timeshare without any knowledge of how it works or what to do with it. Other have had life situations change and can no longer use it. They've tried to sell it and may have even paid a few up-front fee's already. They're so desperate to get rid of what they view as a money pit they'll do anything.......including PAY SOMEONE ELSE to take title to their timeshare.

That's right, they'll actually pay to get rid of it rather than sell it on E-bay in a no reserve auction for whatever they can get. These companies want clear title (all loans/liens paid off). Then they want you to give them around $3,000 and sign the title over to them. The timeshare should be out of the original owners hands at that point. Since this type of PCC has made their money and all they want to do is get rid of it, it's put up for sale on E-bay as a no reserve auction starting at $1.

Needless to say with PCC example #2 flooded the market with these unwanted timeshares, the resale price plumetted and it remains depressed. There seems to be an endless line of people who willing to part with their money to get rid of a timeshare rather than do a little work and handle it themselves.

As to the OP one very reputable site for reslaes would be Redweek.com. Keep in mind that the prices listed on Redweek are not necessarily the amount when sold. Anyone who knows about the resale market will know how to negotiate price and will likely know about the bargains to be had on E-bay. I believe Craiglist.com is another outlet for timeshare resales but I've never checked them out.

No matter which route you choose to go, you'll need to have a clear deed. Is your loan paid off? If it's not, you'll have a lot of trouble selling your timeshare. Since you refer to it as being brand new it sounds like you've just purchased it and now are having serious buyers remourse or the payments are tougher to handle than you thought

If that's the case you may need to settle in, learn how to use your timeshare and, if you have it financed through the developer start looking for other ways to finance at a low cost. Those 14 to 21% interest developer financing packages really sting.

[Guest Close Quarterbore]

We finally finished with a nightmare buyer of our own. We had a 2BR week at Shawnee and it was just way too small for us so we listed it on ebay and basically were prepared to take what ever offer we got after a very low start (I think $1500).

Well, the auction ended in September and we had a buyer, and we thought we were done with it. Well, she didn't have the money to pay for it all so she needed a few months to get the money together. We took a deposit and said we could waite on the balance as long as we got this done in plenty of time before the maintance fees were due, normaly around April.

Well, it took about foru months for our "buyer" to come up with the $1500 to buy and then she had a tough time choosing an Attorney to do the deed or paying to have it done. So, it took another four to five months before she finally had the Attorney draft up the new deed and we signed.

Well, by then the maintance fees were due again and we had already told Shawnee that there was a new owner but they would not invoice the new owner until the deed was filed. We were not going to pay the maintance fees as we just spent months getting the payment and deed done and we were not going to allow this woman to owe us money.

Well, as luck has it after many calls to our Buyer's Attorney and Shawnee we managed to get the deed filed THREE WEEKS before she was to use the week (3rd week in August) and as far as we know our Buyer paid her maintance fees.

So, fwiw, good luck but selling our week turned into a nightmare and we were not all that far from giving the week away when you consider Shawnee is selling comparable weeks still for upwards of $20,000 and we went through hell for a buyer that couldn't come up with $1,500.

Personally, I hope she enjoys the week as I sure don't wish to hear from her again as it was really that frustrating...

[morgancita Member Find all posts View Profile Close morgancita]

Thanks for your positive attitude, Glitter Brunello, I like that!

If we do hold onto it for a few more years at least, I do want to know the most viable and safest options for exchange other than using our company, Interval. We went ahead and deposited this year's week with them, but none of the requested resorts have come through yet, so needless to say we are getting worried about our winter vacation! Turns out they don't actually have many resorts in our desired locations for this winter (Florida keys, eastern side of Mexico, Belize, Costa Rica).

So yes, what do you suggest for other exchange options?

[morgancita Member Find all posts View Profile Close morgancita]

Luckily for us, we did actually pay the thing off right away, in order to avoid exorbitant interest rates. So we have that going for us

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

Thanks for your positive attitude, Glitter Brunello, I like that!

If we do hold onto it for a few more years at least, I do want to know the most viable and safest options for exchange other than using our company, Interval. We went ahead and deposited this year's week with them, but none of the requested resorts have come through yet, so needless to say we are getting worried about our winter vacation! Turns out they don't actually have many resorts in our desired locations for this winter (Florida keys, eastern side of Mexico, Belize, Costa Rica).

So yes, what do you suggest for other exchange options?

There is an adjustment in planning/thinking needed to really enjoy the value of timeshare exchange. First is, if you want to go to a prime location in prime season, you need to request further ahead, and be flexible about your results. You also need to be patient, especially with II. I would place an ongoing search with II now for NEXT winter. Your match for this winter has a better shot at getting matched much closer to checkin, which may be a nailbiter for you in terms of planning (many deposits are made either a year ahead, or in January after maintenance fees are paid; if you didn't get a match then, you are waiting for late deposits; I am getting ready to deposit my February ski week shortly since my renter backed out). You may also be hitting "trading power" issues, so please let us know which week you deposited, and how far ahead of the checkin date it was deposited.

By "eastern side" of Mexico, do you mean Cancun? There are plenty of resorts there, that should be doable, maybe even for this winter.

There are several independent exchange companies that could get you to Mexico. San Francisco Exchange Company ("SFX") has a relationship with the Mayan Resorts (Mayan Palace and Grand Mayan) near Playa Del Carmen. If your resort is a Gold Crown/Five Star resort, they will accept it as long as you own a 1 bedroom or larger. Trading Places Int'l may be another good resource, I will let our resident TPI expert weigh in on that one. You can also go to the Exchange Company forums here to make inquiries with the company reps directly in our "Ask" forums.

Your other locations have limited inventory, so they would likely be tougher to get, especially in winter. Would you consider other parts of Florida besides the keys? Not necessarily easy either, but would open up your search and increase your chances. Holiday weeks are near impossible, btw, so I hope you aren't limited to those. Hilton Head Island is a lovely spring/summer destination if you like quiet relaxation and beautiful beaches. Myrtle Beach has more action, and plenty of timeshares, too. Orlando and Las Vegas are very easy to trade into, not that they would fit your bill, but keep them in mind for easier ways to use your weeks. Again, let us know what you own/deposited so we can help assess your trading power...

That's a start, anyway. To the extent some of this may be new, please do some searches in the various exchanging forums here to get yourself oriented.

eta: Aruba and St Marteen also tend to have more inventory. And if you can stretch "winter" to mid-April, you will have more to choose from. Timeshare is also a great way to do Hawaii...

and one final thought, then I must get back to work... Once you get to 30 posts you will be able to view our "Exchange Opportunites" forums. They will give you a good idea of what is available at various times through the different exchange companies.

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

Maybe you have trading issue. If you deposited dog chances are all you will get is a dog. Very few silk purses for sows ears exchanging,no mattter what exchange use use.

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

Maybe you have trading issue. If you deposited dog chances are all you will get is a dog. Very few silk purses for sows ears exchanging,no mattter what exchange use use.

I checked with tiger for what she's looking for, nothing til April. But that's why I asked which week the OP has on deposit. And there's always a silk purse or two, if you know which shelves to look on...

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

Yeah, if you are lucky, but you can't count on it.
Also superprime owners tend to more and more(due to high MF)use or rent. Not deposit for exchange.
Best advice, but where and when you want to go to.