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- Getting rid of your timeshare
Getting rid of your timeshare
I actually have rented it out several times, & exchanged it
through Interval International a few times, since 1984.
I realize that I would never get back what I paid for this &
the price I would ask for it is well below the market value.
It's for rent now & I have a possible renter. It will be
available for sale on Redweek by 1st of August.
Thank you for your reply back.
jayjay wrote:barbaram11 wrote:I have two different Red Season week's that I am trying to sell myself. For now, it's just by word of mouth. These are Ocean Front Properties, deeded fixed week's at Myrtle Beach. I haven't gotten to the point where I am willing to give them away. Good Luck yall with getting rid of yours.A red season beachfront week (I assume that includes summer) should not be hard to sell, although you won't get anywhere near what you paid if you bought from the developer. Have you tried to rent it out?
Barbara M.
Last edited by phyl21 on Jun 22, 2013 01:16 PM
barbaram11 wrote:.... the price I would ask for it is well below the market value.
What market value are you referring to .... in this economy the only market value of a timeshare is what someone is willing to pay ..... there is no Kelly's Blue Book for timeshare resale values no matter what timeshare value entity you might come across on the internet.
R P.
Last edited by jayjay on Jun 22, 2013 09:36 AM
Generally in house sales get much higher prices than other sales listing sites like Redweek. I own a summer beach week that I bought on ebay for $300. I had it listed a couple of places for under $1000 and didn't even get any inquiries. The lowest price by the management company for a similar unit was $3000. They sell a couple each summer at that price or even slightly higher. They do charge a minimum commission of $2000. Even with a fairly high commission, on site sales just seem to get much higher prices.
Tracey S.
barbaram11 wrote:From Defender Realty that sells these Unit for the Beach House Golf & Raquet Club, Myrtle Beach SC. The value is placed on what the Units are selling for that the owners have listed for sale with Defender.
Sorry, but what a seller lists their timeshare for and what it might actually sell for are two completely different things .... I noticed on Defender's website that your resort has 5 listings from $1000-$7800 and none have 'sold' on the listings.
R P.
Last edited by jayjay on Jun 24, 2013 08:20 AM
tracey75 wrote:Generally in house sales get much higher prices than other sales listing sites like Redweek. I own a summer beach week that I bought on ebay for $300. I had it listed a couple of places for under $1000 and didn't even get any inquiries. The lowest price by the management company for a similar unit was $3000. They sell a couple each summer at that price or even slightly higher. They do charge a minimum commission of $2000. Even with a fairly high commission, on site sales just seem to get much higher prices.
The in-house salespeople evidently sell to unknowing people that have no idea what the real value of the timeshare they bought is on the resale market, especially in this economy, and they charge a $2000 commission on top of that ..... sheesh.
In this day and time of the internet and Google at one's fingertips (all public libraries have computers for use) people should research resale timeshares back and forth before they sign on the dotted line.
Again, what someone is ASKING for their timeshare and what they may actually GET are two completely different things.
R P.
JayJay, There are still a lot of people who feel more comfortable buying things in an office at the resort with a licensed broker and think Craigslist, ebay, and even sights like Redweek are full of scammers. Those individuals are willing to pay an extra $1000-$2000 for peace of mind. And no marketing is required to try to "sell" the person on the unit. They either stayed a week renting from the resort or renting from an owner or walked into the office. There are no gifts for tours and hardsells. I don't think the onsite broker is duping anyone just selling to a different market and if people are paying it who is to say it is not "the current market value."
I think going onsite and selling your unit at the pool is sometimes easier than advertising sites, especially for smaller independent resorts that hasn't had a ton of people touring and then searching for a better bargain after the onsite introduction to the resort and units.
It is not going to get you thousands of dollars for a timeshare that can be bought for $1.00 but summer east coast ocean front/ocean view resorts, with reasonable MF's do have value above a $1.00 but you have to be patient and sometimes do more than list at one site and hope.
Tracey S.
Sorry, peace of mind shouldn't cost $2000 commission + cost of a resale timeshare that, many times, can be bought for $1 .... this forum is to inform people of the most reasonable choices when looking for a resale timeshare.
Why do you say that Redweek is full of scammers? Have you been scammed by a Redweek ad or is this merely conjecture on your part?
R P.
jayjay wrote:Sorry, peace of mind shouldn't cost $2000 commission + cost of a resale timeshare that, many times, can be bought for $1 .... this forum is to inform people of the most reasonable choices when looking for a resale timeshare.Why do you say that Redweek is full of scammers? Have you been scammed by a Redweek ad or is this merely conjecture on your part?
Jayjay, Once again, your reply is "spot on"!!! I have seen weeks being sold and the seller offering to pay the next year's maintenance fees or even offered a cash bonus. A $ 2000 commission in the current market is a rip-off.
Tam M.
I am not saying Redweek specifically is full of scammers but where there are people who are desperate to get rid of their timeshare there are scammers and this includes Redweek. No I haven't been scammed here or anywhere for that matter but there are at least 2 topics with postings from multiple members over several months that have been contacted through Redweek by scammers. This happens even more often on Craigslist and the membership fee here does keep many away but it doesn't keep them all away.
Timeshares and scammers unfortunately go hand and hand and you have to do your due diligence not only when purchasing but also when selling and renting.
Tracey S.
tracey75 wrote:I am not saying Redweek specifically is full of scammers but where there are people who are desperate to get rid of their timeshare there are scammers and this includes Redweek. No I haven't been scammed here or anywhere for that matter but there are at least 2 topics with postings from multiple members over several months that have been contacted through Redweek by scammers.
Redweek is a timeshare ad site, nothing else. If someone pays a Redweek membership fee then they are free to contact ad owners. Redweek has absolutely no control over scammers and their spiel that do that.
This is exactly why us regular posters post how those scammers operate and all the lies they'll tell .... that's the main reason we're here. Even without knowing about warnings, there's no way on earth that I would ever pay a large upfront fee to any entity to list or sell a timeshare.
R P.
jlb wrote:We've got 6 we'd like to unload, but can't get our resort to even respond to any questions.
Do you own 6 deeded weeks or are these Right to Use (RTU)? Make sure you know exactly what you own so you can know how to properly unload them.
Whatever the case, never ever pay anyone a large upfront fee to sell, rent out, or "cancel" your timeshare(s) as these are usually, if not always, a scam.
Lance C.
jlb wrote:We've got 6 we'd like to unload, but can't get our resort to even respond to any questions.
The vast majority of resorts do not take deed backs if that's what you're trying to do .... the best thing you can do is offer to give them away in Redweek's Bargain Basement, but if your weeks are not in popular locations in popular timeframes (supply and demand) then that may not work either.
R P.
Gary...Can you explain how you got rid of your TS? Having read through this thread, it is difficult to parse the legitimate information from the bantering. I need some REAL information that I can use to transfer the deed to my TS.
Thank you sir
garym483 wrote:Since you say you never did business with CHT then what is the reason for your unrelenting defending of it.It would seem to me that you have far more to do with CHT than you admit .... figures.
If youd bothered to read my posts and actually comprehending what was said, you wouldn’t be asking this. I could ask you the same question about your unrelenting defense of a failed TS industry model. But I wont, as I already know. CHT to me was an opportunity to learn what my best options were for getting rid of my TS. Along with DFAC, Redweek, TUGs and several other ‘relief’ companies. I did my homework and was able to get rid of mine for the grand sum of $85. CHT highlighted some truths that are important to understand and if I did do a ‘donation’( the misnomer it is), I probably would have used CHT. I engaged you due to all the untruths you’ve been repeating. The problem with your repetitive suggestion to put a TS on the Redweek boards was it only dealt with the POSSIBILITY of selling or giving it away, which on the surface is pretty high. Who wouldnt want something thats ‘so valuable’, for free? But it avoids the question of the PROBIBILITY of it moving out of the owners hands, which is pretty low to nonexistent. Thats what in essence, Ive been discussing (if youd been paying attention). Before you recommend that again, consider that you only paying lip service to someone that really needs help, but the best your offering is something that PROBABLY wont happen. You obviously have a vast knowledge of the industry (as Im sure you a part of it), maybe you could use it to actually engage someone with some real insight that provides a solution. Which up to now, you’ve been no part of.
Michael W.
One thing I know for sure is the more someone rambles on without giving details is that they are a scammer. NEVER pay anyone money upfront to rent or sell your timeshare. If anyone demands money upfront for any reason then they are a scammer plain and simple. Follow that rule and you will never lose a penny to them.
Don P.
A lawyer working with a new client will require a retainer up front. That is a standard business practice. If you are concerned about the integrity of the lawyer, check with the American Bar Association to see whether any complaints have been filed against attorney. The Better Business Bureau also keeps files of complaints. The attorney I have recommended here has helped many people deed back their timeshares successfully. jockwood@hotmail.com
John B.