Original Message:
Re: Re: Trying to get rid of a timeshare already paid in full. (by KC):
jbaa2 wrote:I own timeshare at Club Wyndham (Governor's Green) Williamsburg, VA. I am ready to get rid of the unit because I am not using it anymore. The timeshare gave me two companies they work with that will assist me in selling the unit. This is the thing though, I am not showing any profit from the sale. I was told the going rate is a 1/2 to 1 full penny per point. If that is the case, then there is no profit to sell the unit. Where is the profit in the sell of a timeshare that is paid in full without a monthly mortgage?
Despite (patently false) claims routinely and repeatedly made by hungry timeshare developer sales weasels, the blunt truth is that it is extremely rare that anyone ever realizes a "profit" when they later sell their timeshare, regardless of the system --- Wyndham included.
Resale value "is what it is". For most Westgate products, to cite a different example, that resale value is exactly zero. For timeshares in other "chains", resale value is some fraction of the developer (Wyndham, in your case) purchase price, but never is the resale value ever more than that original purchase price. Timeshares are not like real estate, where market value generally increases over time.
No buyer cares one bit what a seller originally paid for their deeded ownership (or their points); that figure is irrelevant. Buyers (understandably) only look at and only care about what they can buy that same product for in the open resale market. It's that simple.
Don't shoot the messenger, but if you can find a buyer and recover even a significant fraction of whatever you originally paid, you will be doing well. Seeking or expecting to realize a "profit" is a completely unrealistic pipe dream that will simply never be achieved. Just the same, I wish you good luck in finding a buyer.
P.S. The absence of a mortgage does not enhance resale value. In fact, you couldn't even give any timeshare away at all for free if there was still an outstanding loan balance. That outstanding debt would have to be satisfied first before you could even attempt a sale (or a giveaway).