- Timeshare Discussion Forums
- Buying, Renting, and Selling Timeshares
- Need to find a real estate agent for...
Need to find a real estate agent for contract proving attempt to sell timeshare?
Hello first time trying to sell timeshares due to personal (family) problems and according to the lawyer involved in protecting our assets I've been told that I need to have a contract in hand via a real estate agent (or some other means? even though I understand no go on anyone demanding up-front fees) so as to have proof that the timeshares are "up for sale" so that they are no longer assets in my portfolio that the IRS can claim further putting a dent into my dwindling bank accounts.
Is this correct advice? If so, how do I go around getting this done? Currently I have Division of Florida Condominiums, Timeshares, and Mobile Homes on file and will be calling the director but will he be much help? Will he be able to actually recommend real estate agents that can provide a contract? Need this in a hurry within a week or two from what I understand. Also, from what I understand, the lawyer has stated that merely listing the properties on ebay or other sites such as redweek, etc. will not be sufficient. I need contractual proof that these are up for sale.
I'm so lost, any help appreciated. Again, I understand how to stay away from the sharks and scam artists, just don't understand how to proceed from here.
James B.
Jay Jay....I have read your postings for years now and without knowing you have such trust in your experience. We may be interested in selling our timeshare weeks, and thanks to you and others on this forum are fully aware of the scammers and how to stay away from them. I just finished reading the "how to sell on redweek" info here on the redweek site. It looks like it could be an easy process with their escrow service and advice. SO...would it then be necessary to list with a real estate agent/broker if one could just sell it here on redweek? Appreciate any advice you can give! Thanks in advance.
jayjay wrote:jamesb1201 wrote:Would a Re/Max timeshare real estate agent be good? What is the consensus on Timeshare Brokers MLS?http://www.judikoz.com/ ..... Judi has a stellar reputation in the timeshare resale industry.
Candice and John M.
mccabin wrote:Jay Jay....I have read your postings for years now and without knowing you have such trust in your experience. We may be interested in selling our timeshare weeks, and thanks to you and others on this forum are fully aware of the scammers and how to stay away from them. I just finished reading the "how to sell on redweek" info here on the redweek site. It looks like it could be an easy process with their escrow service and advice. SO...would it then be necessary to list with a real estate agent/broker if one could just sell it here on redweek? Appreciate any advice you can give! Thanks in advance.jayjay wrote:jamesb1201 wrote:Would a Re/Max timeshare real estate agent be good? What is the consensus on Timeshare Brokers MLS?http://www.judikoz.com/ ..... Judi has a stellar reputation in the timeshare resale industry.
Thanks for you kind comments. To answer your question, I would first try to sell your week here before enlisting an agent ..... but there are many things you need to remember in this economy (ie: timeshares are at their lowest value ever, if you bought from a developer you will not get on the resale market anywhere what you paid initially, many very nice timeshares in very nice resorts are being given away due to ever rising yearly maintenance fees and people not being able to travel in this economy, what someone lists their timeshare for and what someone is willing to pay are two completely different things (in other words don't go by other people's listing prices), depending on the supply and demand of your resort and time owned would determine what you may get in return on the resale market plus many other considerations.
Also, it depends on how desperate you are to rid yourself of your timeshare ... meaning if you're financially strapped it might be to your advantage to offer to give your timeshare away (Redweek's Bargain Basement), and for extra incentive offer to pay closing costs and 2013 maintenance fees.
There's really no Kelly's Bluebook on the value of a timeshare (as there is for cars). It's something you'll have to determine yourself. One thing is for certain, though, the very worst thing a timeshare owner can do is NOT use, exchange or rent their timeshare losing their paid maintenance fee.
R P.
Thanks JayJay for the info. Yeah, we know we will take a loss on these weeks (Hawaii) if we decide to sell...we are not a rush and all are paid off and maintenance fees are paid in full each year. Marriott has emailed us offering to buy our weeks back, but we know very well they are worth more than what Marriott is offering!
I agree we should try redweek first. This website is great for renting out parts of our unit when not needed. I am just so leery of the scammers and dishonest people out there scouring for another victim. If we sell we want to do it right.
jayjay wrote:mccabin wrote:Jay Jay....I have read your postings for years now and without knowing you have such trust in your experience. We may be interested in selling our timeshare weeks, and thanks to you and others on this forum are fully aware of the scammers and how to stay away from them. I just finished reading the "how to sell on redweek" info here on the redweek site. It looks like it could be an easy process with their escrow service and advice. SO...would it then be necessary to list with a real estate agent/broker if one could just sell it here on redweek? Appreciate any advice you can give! Thanks in advance.jayjay wrote:jamesb1201 wrote:Would a Re/Max timeshare real estate agent be good? What is the consensus on Timeshare Brokers MLS?http://www.judikoz.com/ ..... Judi has a stellar reputation in the timeshare resale industry.
Thanks for you kind comments. To answer your question, I would first try to sell your week here before enlisting an agent ..... but there are many things you need to remember in this economy (ie: timeshares are at their lowest value ever, if you bought from a developer you will not get on the resale market anywhere what you paid initially, many very nice timeshares in very nice resorts are being given away due to ever rising yearly maintenance fees and people not being able to travel in this economy, what someone lists their timeshare for and what someone is willing to pay are two completely different things (in other words don't go by other people's listing prices), depending on the supply and demand of your resort and time owned would determine what you may get in return on the resale market plus many other considerations.
Also, it depends on how desperate you are to rid yourself of your timeshare ... meaning if you're financially strapped it might be to your advantage to offer to give your timeshare away (Redweek's Bargain Basement), and for extra incentive offer to pay closing costs and 2013 maintenance fees.
There's really no Kelly's Bluebook on the value of a timeshare (as there is for cars). It's something you'll have to determine yourself. One thing is for certain, though, the very worst thing a timeshare owner can do is NOT use, exchange or rent their timeshare losing their paid maintenance fee.
Candice and John M.
mccabin wrote:Thanks JayJay for the info. Yeah, we know we will take a loss on these weeks (Hawaii) if we decide to sell...we are not a rush and all are paid off and maintenance fees are paid in full each year. Marriott has emailed us offering to buy our weeks back, but we know very well they are worth more than what Marriott is offering!I agree we should try redweek first. This website is great for renting out parts of our unit when not needed. I am just so leery of the scammers and dishonest people out there scouring for another victim. If we sell we want to do it right.
I would certainly be curious to know what Marriott is offering .... of course it won't be anywhere near what you paid if you bought directly from Marriott, but then again, you're not going to get on the resale market anywhere near what you paid either.
Hawaii was once one of the most popular timeshare destinations out there, but in this economy with the cost of flying (plus all the hassles of flying), car rentals etc. Hawaii is not what is used to be as far as a destination .... you'll need to weigh all the pros and cons.
Good luck in whatever you decide.
R P.
JayJay..We have owned for many years and sure do know we won't get anywhere near what we paid. With no rush we are carefully weighing all of the pros/cons and so want to make the right decision. It is nice to not be in a big rush and do our homework.
I would be happy to share with you what Marriott offered us to buyback, but not publicly. Is there a way to reach you via email?
jayjay wrote:mccabin wrote:Thanks JayJay for the info. Yeah, we know we will take a loss on these weeks (Hawaii) if we decide to sell...we are not a rush and all are paid off and maintenance fees are paid in full each year. Marriott has emailed us offering to buy our weeks back, but we know very well they are worth more than what Marriott is offering!I agree we should try redweek first. This website is great for renting out parts of our unit when not needed. I am just so leery of the scammers and dishonest people out there scouring for another victim. If we sell we want to do it right.
I would certainly be curious to know what Marriott is offering .... of course it won't be anywhere near what you paid if you bought directly from Marriott, but then again, you're not going to get on the resale market anywhere near what you paid either.
Hawaii was once one of the most popular timeshare destinations out there, but in this economy with the cost of flying (plus all the hassles of flying), car rentals etc. Hawaii is not what is used to be as far as a destination .... you'll need to weigh all the pros and cons.
Good luck in whatever you decide.
Candice and John M.
On the Marriott forum on Tug2.net (timeshare users group) on the bbs, they are keeping a database on various Marriott buy back offers. Two bedroom ocean front and Ocean view units definitely have a resale value although it may not be as high as you were hoping. Island views and one bedroom units don't seem to have nearly the demand and although the Marriott buy back offer may be a little under market- at least it is quick an easy.
Tracey S.
