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My husband and I purchased 10,000 biannual points of Bluegreen almost 3 years ago. We are currently having financial troubles. Can anyone give me some advise on how to sell our BlueGreen property/points ? I've read alot to forums and posts and it seems that most people say it may take several years or we may never get to sell. I would like to sell my points within the next 6 months, any advice would be appreciated !
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I've moved your question to the Bluegreen forums, where you can find help specific to your ownership. Boca is absolutely one of the best and will likely be able to advise you!
Good luck!my travel website: Vacation-Times.org.
"A vacation is what you take when you can no longer take what you’ve been taking."
~Earl Wilson -
Do you have a mortgage and are your maintenance fee balances up to date?Originally posted by WanttoSellBG View PostComment
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Yes, I have a mortgage. and Yes, the maintenance fees are up to date.Comment
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I also have the VIP memebership for bonus time if that matters.Comment
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Since you have a mortgage, you will have to pay it off before you can sell it. I recommend you keep it and use it for vacations like you originally planned.Comment
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That's easier said than done. I can't afford it now and I can't afford the MF.
I really need to sell it.
Do you have any other advice?Comment
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Most likely you can't sell it for what you owe, so your best bet is to find a way to make use of it. If you can rent out your points, that would help with the MFs. Talk to your family and friends and see if anyone would be willing to rent points from you - Bluegreen has some terrific resorts in a fair variety of places, and renting your points at cost or even below you could give someone a pretty good deal, as well as the opportunity to help you.
Renting out requires the same approach as using the points for yourself - reserve early if you want summer dates or holidays at one of the popular resorts. If you want to offer a competitive price you will only be able to count your yearly fees, not whatever you're paying on the loan.
Unfortunately, until you've paid off the loan or most of it, your choices are to find a way to pay it off (at which point you could sell it); or to let it go and take the hit on your credit rating (not to mention dealing with people trying to collect the money and all).Comment
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You can default on it. Bluegreen probably won't put a judgement on you to collect the amount you owe. However, it will ruin your credit for about 7 years. If you don't need a loan in that time frame, then that may be your only option.Comment
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Thanks for the advice. I was afraid that you were going to say that. I really wish I had walked out of that sales pitch three years ago without buying anything. But we live and learn
So to rent my points, How do I know how much to rent them for? I see a list of companies to use on BG website. Can you recommend a company to use?Comment
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I've never rented out my points, so my comments are observational only.
I did look into renting BG before I bought, and at that time (last year) the prices generally ranged from $0.09 per point to $0.06 per point. People whose points are about to expire often offer deeper discounts, but those discounts are easier to find word-of-mouth then on the rental sites. People charging more than that I suspect believed their salesperson's claim that they could make a profit off their timeshare. *sigh* I've heard some people who've been renting successfully for a while say the market is tough right now, so where-ever you advertise, I'd recommend you not pay much of an up-front fee.
Some people offer just the points for rent, but most seem to pick a place and date, reserve those points and try to sell them. If you want to just offer the points, I'd definitely recommend you try here or on TUG, since I'm guessing your market for pure points would be BG owners or others knowledgeable about the system.
I heard one lady say she'd had good luck printing out an advertisement and putting it on local bulletin boards - the kind where you put your phone number on tear-off fringes at the bottom. That's the route I'd go if I were in your situation - we'd put them up at church and on the bulletin board where hubby works, for starts - because I'm guessing people who know and trust you are more likely to take a chance on renting from an individual than a stranger would be. And even if you're just posting it in a grocery store or whatever, at least they can meet you instead of dealing with a stranger on the Internet.
I'd also look into rental contracts - I know there was a good discussion on those at the BG Yahoo group a while back - and try to frame one out that protects both owner and renter and lays everything out so both you and the person you're renting to understand the responsibilities of each.
People who rent out BG will probably give you pointers both here and on the BG Yahoo group in terms of contracts and stuff, but odds are they won't tell you what works best for them in terms of what units to offer, because then you'll be trying to reserve the same units.
But if I were going to do the bulletin board ads, I'd start with one of the more local resorts anyhow, which would not likely be as big a draw for someone else somewhere else. I'd also mention in my ad that resorts at where ever are available (picking stuff where it's pretty easy to get a reservation), so if someone sees your name and thinks it would be good to do business with you but isn't enthused with the local resorts, they could ask after the prices on the other options.
You can do a search here for other threads asking for advice on renting, where people who've actually rented something out offer advice, or you could start a new one, since people who have advice on renting may not be reading this thread. I believe I've seen more on renting at the Yahoo group than here, so you might sign up with that as well. It looks like the search engine there is actually working again.
Best of luck!Comment
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I have 7000 annual points with the mortgage paid and all dues paid up-to-date. What would be the correct process to sell.Comment
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To start with I recommend taking a look at Ebay. Check the completed auctions for Bluegreen points and that will give you an idea what is currently selling and not selling on Ebay.Originally posted by 69aldo View Post
Puppymom in MOComment
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If you're determined to get rid of it, post it here or at TUG or both for $5 and buyer pays transfer fees. If you hope to make some money off of it, follow puppymommo's advice and don't forget to include the listing fee in your calculations.Originally posted by 69aldo View Post
VA_Traveller, had to share that one with hubby.
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