selling time share

whats the typical amount of time it takes for a timeshare to sell on your website

johnt1222 wrote:

whats the typical amount of time it takes for a timeshare to sell on your website

There is certainly no "typical amount of time" --- on this or any other timeshare web site. Some timeshares frankly can't even be given away for free. Timeshares with some resale market value must be competitively priced in order to attract potentially interested buyers. Overpricing will just encourage buyers to "keep looking" (or maybe, if you're lucky, submit a lower and more realistic offer). Closing costs and transfer fees (and knowing who will be paying them) must also be considered as a factor in pricing and for every sale transaction. All of these factors influence "how long" (regardless of the advertising venue utilized) it might take to find a valid new home for a timeshare.

I have personally purchased AND sold (and occasionally rented as well) timeshare weeks on RedWeek over the years. RedWeek is a very good timeshare site. The requirement for a paid membership to even respond to RedWeek ads helps a LOT to keep away spammers, scammers and "tire kickers". Those types of people won't pay for a membership to play their game --- and paying for a membership also identifies them, leaves a paper trail and therefore makes them traceable --- definitely NOT something that ANY scammer wants.

The bottom line, regardless of the particular web site utilized (including RedWeek), is to be honest and realistic about supply and demand --- and actual resale value. It does not matter one bit what someone may have paid for the timeshare when previously purchased; no one cares about that irrelevant "old news" figure. All that really matters is what the timeshare is actually worth to a new and willing recipient TODAY in the open marketplace.

I've been looking for personal experiences selling through Redweek. Thank you for sharing!

We had one that we sold through RedWeek. Some things to keep in mind is to be realistic about the resale price of your unit. Also, you might have to be patient. Some units take longer to sell than others.

lancec13 wrote:

We had one that we sold through RedWeek. Some things to keep in mind is to be realistic about the resale price of your unit. Also, you might have to be patient. Some units take longer to sell than others.

Thanks for your reply! Resale price is sobering, for sure!

Did you use the full-service feature, and if so, would you use it again?

Thx!

We also had a TS sold through Red week. As lance indicated, be realistic, if you have a quality TS, in a prime location, at a prime time, you won't have a problem. Perhaps a lag in time. But then Rome wasn't built in a day either. We have bought our TS's with the mind set of not only where we liked, but where everyone else wanted to be. Never bought with the intention of making money. As time went by and we reduced our holdings to a couple, one we rent, one we will probably hold on too. Saying all that if you have a quality TS, then time shouldn't be a consideration. Just be realistic in pricing and time will pass quicker than you know. As to "verifying", IMO it's just a third party confirming that you own what you want to sell, as we sold our TS's our self and by only using a closing company. It's been my experience that if some is interested, they will communicate by e-mail, phone what ever your contact preference in the offering.

I have sold two separate and unrelated timeshares through RedWeek in the past two years. Both were previously bought resale, used for some years and both were sold for about the same amount I paid (sold for just a bit less, actually). People who bought developer-direct will unfortunately always "take a bath" in the resale market, since all timeshares in the resale market are worth only a tiny fraction of the developers' price; a sad but irrefutable fact. The open resale market value simply "is what it is" and no one really cares one bit what a seller previously paid, or whether it was purchased developer-direct or resale.

The small additional ad cost to be "RedWeek verified" is a worthwhile expenditure, in my opinion. It gives inexperienced and / or nervous buyers some confidence that the seller has already been independently "vetted" and confirmed as the real and legitimate owner of record, hopefully alleviating some of their concerns and worries before proceeding with a transaction.

William, Ken...Thanks for your insights!

We purchased two weeks at the same Marriott resort because we had planned to use one week (as a forced vacation and to have a familiar place to take elderly parents with us) and trade the other week. That was the plan. We haven't actually used our resort in years and it's time to unload. Renting has become hit and miss, in terms of covering the maintenance fees. Last year, I listed it for rent relatively late (my fault) at the same price it rented for the previous year, but due to a bit of panic in getting it rented and price competition, we actually lost money on the rentals.

My "takeaway" in having the timeshare are some wonderful family memories.

Ken...you have a good purchase/exit strategy! And, yes, I am now keenly aware of the resale market! Sigh.

Again, thanks!