Help on selling a blue green 7,000 E/O year points

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

Hello, I am new to the site. My husband and I are in desperate need of advice on how to sell our timeshare, we bought it in 2007 for about 7,600.00. We have 7,000 e/o year points at the Shore Crest Villa's in North Carolina.The maintence fees are arond 420 per year.

We have listed with REM(resorts equity marketing), ICM marketing, and BML marketing. all of which we have paid a considerable amount of money too and they did nothing and we are now more money in the hole. We really don't know what to do and just need to get rid of this.
reading other questions, I have seen that it looks like we will get no where close to what we paid for the timeshare, so what is the average price?

Any suggestions would be greatly appreciated.
Thank You,
Nicole

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

Never, never, never pay money up front

Never, never, never pay money up front, but you have learned that.

With the economy being what it is, timeshares are selling for next to nothing, and sometimes for even nothing. For more realistic data, go to eBay and follow some Bluegreen auctions. In a week or two you will have a better idea.

You can also go to TUG and look at their classified ads to see what other people are asking (but not necessarily getting).

Charles

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

Minor point, Shorecrest is North Myrtle Beach, South Carolina.

You could try myresortnetwork.com or use one that I don't like but others seem to, redweek.com. There are only small fees associated with them to list the resort, not the scams like you have paid big buck to with the other guys.

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

Thanks for the correction it was late and I was tired.

Now since we won't be able to get even half of what we paid for the timshare, Is there any way to sell the points? I have no idea how any of this works.
Now should I contact blugreen directly, If we were to ever sell the timeshare, say perhaps on craigslist. how do you go about doing the legal stuff?

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

Now since we won't be able to get even half of what we paid for the timeshare, Is there any way to sell the points? I have no idea how any of this works.
Now should I contact Bluegreen directly, If we were to ever sell the timeshare, say perhaps on craigslist. how do you go about doing the legal stuff?

Do not contact BG about selling. You won't get anywhere.

One advantage of BG Points is that the "legal" stuff is quite easy. If you log into BG, there is a page with all of the information of who to contact, how much it costs, etc. The paperwork simply involves names, addresses, SS Numbers, a description of the unit, and it has to be notarized. It's all done by mail. If you hire an outside closing company they also have to go through that process so they will charge you more. The fee is about $450-475 which includes escrow.

Yesterday on the BG Yahoo Group there was a message of an offer to give away their points. I am guessing that someone got into a financial bind and could not make the maintenance fees and did not want to default and hurt their credit rating.

Charles

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

Thanks Charles, I will check that out, I think I am going to try and put it up in craiglist.
I can not believe how cheap these points are going for. Your right about the maintainence fee's I don't think people can afford them and just want to get rid of it. That is kind of where we are at, we just don't use it enough and should have never bought it.

[dmb1016 Junior Member Find all posts View Profile Close dmb1016]

Not to get your hopes up, but there was recently (July?) some changes in resale purchases and when the purchacers of the resale points are eligible for charter benefits, such as bonus time and maybe other benefits. If the resale is purchased for $1.25 per point or higher, they can get the extra benefits. Lower resale points stay as unchartered points with no benefits.

So it seems to me that anyone with a very low point package such as yours might have something of greater value per point than another person trying to sell say 10,000 points at $1.25 per point. Someone could theoretically purchase your points for the bonus time advantage now and later add extra unchartered points at a deeply discounted rate. Since yours is EOY points, I believe that would be $1.25x3500 pts. Maybe you sweeten the deal by paying closing costs and fees, or pre-paying maintenance fees, but at least you are not giving them away for nothing.

If you have heard of Boca Jim on this board, he will certainly be able to give you options. Or, he may reply to this thread and tell me how wrong my thinking is. If I am wrong, I hope he does. He is super nice when I have talked with him in the past. Good luck to you.

[kcbedo Member Find all posts View Profile Close kcbedo]

Not to get your hopes up, but there was recently (July?) some changes in resale purchases and when the purchacers of the resale points are eligible for charter benefits, such as bonus time and maybe other benefits. If the resale is purchased for $1.25 per point or higher, they can get the extra benefits. Lower resale points stay as unchartered points with no benefits.

So it seems to me that anyone with a very low point package such as yours might have something of greater value per point than another person trying to sell say 10,000 points at $1.25 per point. Someone could theoretically purchase your points for the bonus time advantage now and later add extra unchartered points at a deeply discounted rate. Since yours is EOY points, I believe that would be $1.25x3500 pts. Maybe you sweeten the deal by paying closing costs and fees, or pre-paying maintenance fees, but at least you are not giving them away for nothing.

If you have heard of Boca Jim on this board, he will certainly be able to give you options. Or, he may reply to this thread and tell me how wrong my thinking is. If I am wrong, I hope he does. He is super nice when I have talked with him in the past. Good luck to you.

To do this, you would need to sell through Pinnacle, and they take $2000 off the top. So you'd be looking at $1.25*3500-2000. The trick is actually finding someone willing to spend the money, which is a lot less common than it used to be.

To see if people are buying at this price, you could take a look at the Pinnacle website and see if you see similar biennial packages that say "Sale Pending". There's a lot of listings that have been on there for years at prices higher than what people are actually willing to pay.

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

Thank you for the help, I will get on Pinnacle's website and check it out. We are open to any suggestions.