Resale Hilton New York

Lisa,

I own Hilton 57 New York time share and would like to know the best options to resell the property at or as close to the value I purchased it at: $28k+ $17k upgrade for the Platinum Week.

Hilton has offered us $22,150.00 to buy the property back or a second option pasted below:

We can list your property on the resale market. If you decide that you would like to sell your property on the resale market a listing agreement will be provided to you by email, mail or fax. This is only a suggestion based on current resale market analysis. You may list your property at any price you wish. Please understand that this does not relieve you of any financial responsibility for outstanding loans or fees that may come due on your account during the selling process. The broker commission due on the sale of your Hilton interval will be 25% of the sales price or a minimum of $500.

What is the independent market for property resales like and what do you think my best option is?

Thanks,

Jonathan

Do you use, rent or trade your timeshare getting value out of it?

I think it depends on how desperate you are to rid yourself of this timeshare. If you are desperate I would take this offer from Hilton. (even with the loss), because most other timeshares are re=selling for pennies on the dollar or being given away (I do realize that NYC is an entirely different market than the rest of the country). It's something you'll have to decide on your own depending on your personal circumstances.

We average using the timeshare twice a year. We hoped to resell the property in order to potentially invest in an apartment. Are there companies that do a "trade in" in the same way car dealerships do?

There are lots of companies that claim they can rent or sell your timeshare for an " upfront " fee. NEVER pay anyone money upfront to rent or sell your timeshare. They will promise you the world and take your upfront money and do nothing. Only use a licensed realator that takes their commission out of the sale.

jonathanf76 wrote:

We average using the timeshare twice a year. We hoped to resell the property in order to potentially invest in an apartment. Are there companies that do a "trade in" in the same way car dealerships do?

I don't know of any companies that do trade-ins. Since you are interested in investing in an apartment, I would take the offer Hilton is giving you. You'll never get back what you paid Hilton initially.