sELLING MY TIMESHARE

Re: >> Any thoughts as to why? Bad week? Bad property? <<

It's hard (impossible, actually) to answer your question intelligently without the underlying facts (you don't identify the property OR the week OR the price you asked at the beginning OR at the end of your ad cycle).

I am wanting to sell my Timeshare because I don't use it like I thought I would. I am not trying to make ANY money off of it, I just need to get out from under the payment. I would even be interested in someone taking over the payments and putting it in their name. Help Please...

jons29 wrote:

My Opinion: If someone is looking to sell, ALWAYS check with your resort in-house sales dept. IF, the resort handles resales, you will always get a better deal.

The Logic: TS buyers always contact the resort for info and availability. Your fees, if any, will be lower. Info will be "more" honest

You can always list on the web, such as Redweek, but you have the advantage of also having it listed at the resort. You can still negoiate the selling price, the same as you would do if listing your residence.

Most importantly, be realistic! There are tons for TS sitting out here for sale, with greatly inflated prices. If you seriously want to sell, price it in the proper range for resales. Remember it's a TS, not a lottery ticket.

Redweek listed resales at one of my resorts, are priced considerably higher than value and they are "pool" or "courtyard" views. Someone calling the resort, will find beachfronts for less money. There is no difference in units, other than view. And while prices are negotiable, a listed high dollar price will be a turn-off to many prospects. "Fairplay" will almost always win.

What if your resort doesn't have a resale department...then what

It will be almost impossible to sell your timeshare if the mortgage is not paid off unless it's in a VERY desirable location, resort and time period.

You can try listing it on Redweek for what you owe, but if you bought from the developer it's very likely you can't sell it for anywhere near what you paid. Resales typically sell for 1/3 to 1/4 or 1/2 (if you're lucky) of what you paid the developer.

teresaw57 wrote:

I am wanting to sell my Timeshare because I don't use it like I thought I would. I am not trying to make ANY money off of it, I just need to get out from under the payment. I would even be interested in someone taking over the payments and putting it in their name. Help Please...

Can you define VERY desirable place? This is in the Smoky Mountains.

Not a VERY desirable place. Desirable places are like Florida, Hawaii, Mexico, Vegas and still those destinations depreciate. If you are a home owner I recommend getting an equity loan and get out of your current financing ( I bet you have a 14% to 17% interest rate)

teresaw57 wrote:

Can you define VERY desirable place? This is in the Smoky Mountains.

Has anyone heard of the company Timeshare MLS? They called a few weeks ago, and I just got a contract from them and found this site after. I think I'm still in my 10 days, but didn't know if anyone had heard of them?

Stephanie

If they charge an upfront fee, don't do it. It's a scam and you'll never hear from them again.

stephanieh93 wrote:

Has anyone heard of the company Timeshare MLS? They called a few weeks ago, and I just got a contract from them and found this site after. I think I'm still in my 10 days, but didn't know if anyone had heard of them?

Stephanie

Thank you for your help. I'm logging off to get on the phone now!

Stephanie

stephanieh93 wrote:

Thank you for your help. I'm logging off to get on the phone now!

Stephanie

If you paid with a credit card, file a dispute immediately. If you have a 3-day right of recission, besure to sign and return/fax the form.

Here's a trick I learned from a friend. Hold both your hands palms up in front of you. Hold what you paid in your left hand, as if you can feel it there. Hold what you got for your money in the right hand. If you don't feel anything solid in your right hand, don't do the deal.

This has saved me many times from bad deals.

I'll have to remember that advice! Thanks!

I have been talking about selling my TS which in Daytona, now I really need to do somthing about it. I have some questions, that maybe someone can answer for me... Has anyone actually listed & sold their TS using this site? & has anyone actually rented their TS using this site. I have already spent money trying to do both, & am considering using this site as a means. Can anyone out there answer these questions? Thanks

Can I still sell my timeshare if it is not paid off yet? How do I go about doing this? Thanks.

candicek7 wrote:

Can I still sell my timeshare if it is not paid off yet? How do I go about doing this? Thanks.

======================================== Phill12 Candicek, its hard enough to sell a timeshare now days without debt added on! I would say the short answer would be no!

If you are sure you have buyer then you could pay it off with low interest credit card or home loan acct if you have one! This is not something I am recommending but as a short term it would work. I hope you bought resale so your not talking that much money.

If you bought from the resort new then you are going to take big loss in most cases and if possible would be better off keeping it and enjoy your vacations for a few years.

Remember I am giving these idea's if you have a buyer and expect to sell soon only!

phill12 wrote:

candicek7 wrote:

Can I still sell my timeshare if it is not paid off yet? How do I go about doing this? Thanks.

======================================== Phill12 Candicek, its hard enough to sell a timeshare now days without debt added on! I would say the short answer would be no!

...

I think the short answer is yes. This is just like selling your home. To clear title, you must pay off all related debts in escrow. If the selling price is lower than the debt, the seller pays the difference into escrow. If the selling price is more than the debt, the difference is paid to the seller at the close of escrow.

You absolutely must have an escrow company and title insurance for this transaction. You need to be sure escrow instructions are written properly.

This is like any other property change of ownership in the short run, just as it was when you bought it.

I have sold 9 timeshare weeks via Redweek and other internet listing sites. So yes, it does work as I am proof, however you must set your week at a reasonable price no matter what you may have paid initially (developer or resale). Keep lowering your price until you start getting interest or emails, IF your week is marketable at all. In today's market that may be iffy depending on where you own and the season (supply and demand).

bettyp32 wrote:

has anyone actually listed & sold their TS using this site? & has anyone actually rented their TS using this site. I have already spent money trying to do both, & am considering using this site as a means. Can anyone out there answer these questions? Thanks

I have to agree with phill unless you own a very desirable week in a very desirable location and could make enough on the resale to pay off your loan balance.

candicek7 wrote:

Can I still sell my timeshare if it is not paid off yet? How do I go about doing this? Thanks.

phill12Candicek, its hard enough to sell a timeshare now days without debt added on! I would say the short answer would be no!

bettyp32 stated, in pertinent part:

>> I have been talking about selling my TS which in Daytona, now I really need to do somthing about it. <<

In my own experience, Daytona timeshares sell slowly and for very low prices (often just a few hundred dollars). Notable exceptions are Race Week (week 7) and Bike Week (week 9) and another "Biketoberfest" week (whose number I don't know offhand). I'm not sure why this is so, but it may be related to lots of relatively inexpensive motel rates in the area and/or a lot of very old timeshare facilities in the area, most of them converted motels. In short, I suggest that you don't place your price (or your expectations) too high if you really and truly want to "move" the product.

Re: >> Has anyone actually listed & sold their TS using this site? & has anyone actually rented their TS using this site <<

Sure. This site is as good as any for selling OR renting, in my personal opinion and experience. Advertising rates are certainly not dirt cheap, but worth the expense if you need / want to DO something with an unwanted timeshare, as is apparently your situation. Good luck.

Hi, I am tring to sell my timeshare in Paphos Cyprus - Parsol Vacation club, anybody sold their timeshare in this area before?

I would have to disagree with you on selling like a house idea.

Selling a timeshare unit is nothing like selling a house!

If it is a good timeshare resort and you want to get rid of it then you might get someone to just take over payments for the cost of transfers and escrow.

You might get someone to take over payments and also give you some cash if your lucky! That is if you have a nice resort good for trading!

People buy a timeshare with cash or small loan on resale market for use or trade. They know they are buying something that except for use or trade is most likely going to lose money.

You might be right and I might be wrong but have never seen anyone buy unit when owners still do not own it,just to much hassle.