Selling a Timeshare

MtnGoat · 04-30-2011, 09:05

Okay I have a Timeshare and I have a Guy on my ODA. We both have been looking or trying to sell our Timeshares.

We both have looked into selling. I'm here to see if anyone has SOLD their Timeshare. Him and I have worked with a Company or do something in ways to sell them.

SO if you have sold let me know. Thanks.

Dusty · 04-30-2011, 09:15

It's illegal to sell timeshares, Bro. You can only buy them.

Red Flag 1 · 04-30-2011, 09:41

BT, wish I could say DT.

Wife bought one a decade or so ago. We've never used it, and every company that she used to sell through has failed. None that they said would sell it did so.

pm inbound.

RF 1

x SF med · 04-30-2011, 10:38

Pool all of unused timeshares as a GB Foundation resource, the owners could donate vacation time and take the tax credit for the timeshare and be able to give the beneficiaries of the foundation a nice place to stay ... maybe a raffle or blind auction could be done- multiple benefits for the GB Foundation.

Just a thought... the foundation muckety mucks are on her and we have a couple of legal beagles that could see if this is doable....

1stindoor · 04-30-2011, 10:50

This has been an invaluable resource.

http://www.tug2.net/advice/howtosellyourtimeshare.htm

I recommend you read all of the "horror stories" on that site. Do your homework and be willing to accept a loss.

MtnGoat · 05-01-2011, 21:02

Quote:

Originally Posted by x SF med

Pool all of unused timeshares as a GB Foundation resource, the owners could donate vacation time and take the tax credit for the timeshare and be able to give the beneficiaries of the foundation a nice place to stay ... maybe a raffle or blind auction could be done- multiple benefits for the GB Foundation.

Just a thought... the foundation muckety mucks are on her and we have a couple of legal beagles that could see if this is doable....

MED,

It's not using them.. like I said we, well wife and Family, have used it many times. Its just trying to get the time to use them. Fees go up and we both are getting hit with more and more fees becuase people are not paying their Year Maint fee, HOA, ETC. It's like planing a rental at Fort Story, VA. Plan a year out and then see if your around town then. We want to buy a Rental Condo or House that we can use when we want. At least once a month would be nice.

1st N - Thanks for the Link, Great Info!! We have seen a lot of this. We haven't been taken. But my Teammate has, for about $2500+.

**Roguish Lawyer** · 05-01-2011, 22:11

I own one and bought more units from someone else -- it is NOT illegal to sell them. There are a lot of companies out there that specialize in marketing them. I am sure you can find a bunch of them through google.

If you want to PM me the details on what you have, I'd be happy to try to help you find a way to liquidate it. Lots of timeshares have rights of first refusal and things like that you have to deal with when you sell.

Boobytrap · 05-01-2011, 22:52

There are a lot of organizations that offer to sell your time-share for you BUT, if anyone suggests you pay for an appraisal, hang up the phone. My wife (while I was away) flushed $400 down one of the scams.

1stindoor · 05-03-2011, 11:05

Let me know how it works out for you. I've been doing my homework for my Mother-in-Law. Currently she has 4 weeks and we normally use at least 2 weeks every year. It's gotten harder the couple of years as the kids have gotten older (we're not as much fun to hang out with).

MIL is ready to sell after 20+ years...she's just not ready to accept that it's going to happen at a loss to her. If I was in her shoes I would be willing to give them away and have the new owner pay for the lawyer and document fees. It would be a steal to a young family.

JJ_BPK · 05-03-2011, 11:27

No experience but I have a bud that has two for two weeks in KW.

On the years they don't need them the sales office rents the unit and he gets a check.

We have looked at purchasing a week for the kids when they visit us, but the kids don't want to be tied down to any "slot".

This same bud had three weeks at a TS that is 5 miles from his house. He has never stayed at the unit. He trades the time for units all over the world.

I also have a friend in Scotland that does the same with his unit in Spain.

Just some observations and possible opportunities from a FOG..

1stindoor · 05-03-2011, 12:57

JJ...good points on the "trade factor." Unfortunately for my MIL, these are very old timeshares (bought and paid for many times over IMNSHO) and in order to switch them over to a "Point System" she would have to be be willing to pay...which she isn't doing. She has four premo weeks (last two weeks of June through the first two weeks of July) for timeshare in New Bern, NC. We usually use two weeks of it...and normally can "rent out" the other two weeks for the cost of the maintenance fee.

We can "bank" the time or trade it, but it's kind of a long convoluted process. Years ago she was willing to sell one week and throw the second week in for free...no takers.