Never pay an upfront fee to sell you timeshare

I see that Redweek has partnered with Timeshare Resale Service to provide a full service to sell your timeshare.

There is a $25.00 fee to get an appraisal and that is OK because I am getting a service for my money. They also charge a 20% commission when the sale is made, which I think is high but would pay to get rid of the thing.

Howeve they charge $125.00 initiation fee if you accept the appraisal and want to continue working with them. Isn't this an "upfront" fee that you always advise never, never to pay?

deannap2 wrote:

I see that Redweek has partnered with Timeshare Resale Service to provide a full service to sell your timeshare.

There is a $25.00 fee to get an appraisal and that is OK because I am getting a service for my money. They also charge a 20% commission when the sale is made, which I think is high but would pay to get rid of the thing.

Howeve they charge $125.00 initiation fee if you accept the appraisal and want to continue working with them. Isn't this an "upfront" fee that you always advise never, never to pay?

Where did you get this information ????? I don't see how any company can appraise a timeshare week ..... it's worth only what someone is willing to pay and in this economy, many weeks can't even be given away.

Of course it is an upfront fee. So is the "Apprasisl " fee. This is just another gimmick.

I got the information on RedWeek.com. Go to the "Sell or Rent You Timeshare" tab. Scroll down to FAQ and click on the topic "Do you offer full service resale option" then click on "Learn more".

It appeared to me that something was not right, and yet RedWeek seem to be endorsing this.

Oh okay, it's for 124 select resorts that are evidently in a low supply, high demand area, however you can just as easily post an ad yourself in the ad section on Redweek .... it's very easy to do .... I doubt many people use their 'full service' option.

Some people don't want to do any of the work themselves so we partnered with an outside company who will do the work for the owner. It's just another option.

deannap2 wrote:

.... and yet RedWeek seem to be endorsing this.

As described above already, it's an offered, third party option; it's not an "endorsement", per se.

I contacted this third party entity over year ago when I wanted to sell one of my weeks but was doing too much travel to effectively handle it myself. It's not an "appraisal" (in the legal sense of the word) which they perform, but a current market evaluation / opinion, based solely upon a search of recent "comparables" sold. Their figure turned out to be reasonably accurate.

I sold that week myself before ever signing up, when a fellow owner at that facility called me looking to buy my week, having heard through the "owner grapevine" that I might be interested in selling it. I never had to proceed with the third party entity.

The third party service is legitimate, it's not a scam, and it may well work for you. However, my vague recollection is also that you have to give them an "exclusive" listing. In effect, this means that you will be obligated to pay them a commission even if YOU sell it YOURSELF during the agreed listing period! If you plan to make no selling efforts at all yourself, this is fine. Just make sure you understand the nature and details of their "exclusive" listing terms before you sign up...

Thank you all for your comments and help.

To be honest, I am just frightend about doing it myself. Not so much about researching a value, placing an ad, or even negotiating a price. What scares me is all the closings and getting it right legally.

I will do more research and see if I can "get brave".

Again, thank you all

deannap2 wrote:

Thank you all for your comments and help.

To be honest, I am just frightend about doing it myself. Not so much about researching a value, placing an ad, or even negotiating a price. What scares me is all the closings and getting it right legally.

I will do more research and see if I can "get brave".

Again, thank you all

When (if) you find a buyer all you have to do is get in touch with a reputable closing company such as www.timesharetransfer.com or JRA Services at www.timeshareresaleclosings.com/ and they'll handle all the paperwork including escrow service (holding all moneys until transaction is complete) .... and they'll notify the resort and the county .... I sold 9 timeshares this way and using internet timeshare ad sites, such as Redweek, to place my ads.

Also, if your timeshare week and resort are in demand (supply and demand) and all you want to do is get rid of it, you can ask for zero compensation and offer to pay closing.

To find out if your week and resort is in demand, you can peruse Ebay's closed auctions or see what they are selling for on Redweek ..... not what people are asking, but what they sold for as the word SOLD will be in the ad.

jayjay wrote:

-see what they are selling for on Redweek ...not what people are asking, but what they sold for as the word SOLD will be in the ad.

Only the ASKING price is EVER really known on ANY RedWeek "for sale" ads, even AFTER the "sold" indication is placed in the listing.

The ONLY site on which actual final selling price is known by everyone is among eBay's completed auctions (... but let me be very clear here --- I am NOT recommending eBay by merely making this particular observation of fact).

RedWeek has no way to know or to determine the final negotiated price between a buyer and a seller, as RedWeek has no further involvement in the process at all after posting the original ad and/or later ending that ad upon seller request (...without RedWeek EVER asking OR knowing the actual selling price, even if it was sold).