Anybody have experience with selling a timeshare?

flathead977

Ten Pointer
Like the title says, the wife and I have one we are thinking about selling. Wondering if anyone has any pointers on the best places to list it or anything like that. Thanks
 

rachievegas

Guest
My parents have one from the Wynn and they've had the worst experience trying to sell that. They get interested parties and that's basically where it ends. Hopefully you'll have better luck. :/


Sent from my happy place.
 

huntersteve

Guest
I know some people that have been trying to sell there's for several years....they even went to some groups that claim to buy your timeshare only to find out that they weren't offering very little money....don't mean to sound so negative about it but these are the stories I know about....
 

wturkey01

Old Mossy Horns
Contributor
I had one in Banner Elk for 20 years and finally felt a great relief when I was able to give it back to the Company we bought it from. After spending $400 for "maintenance & taxes" every year and only using it for 1 week it became an elephant in the jello. :mad:

We actually paid more in maintenance over the 20 years than the dang thing cost to begin with!!:mad:

Just be careful of the realtors who want to sign a contract on your condo and "guarantee" a sale........they're shysters who will charge you several hundred $$ and you'll still be stuck with it.
 

deerhunter28

Ten Pointer
10 cents on the dollar if your lucky.
Not trying to be negative just the truth.
Good luck



PSE EVO 60 Lbs.
Blacked out
 

Mountaineer91

Four Pointer
Just FYI, the places that advertise buying them will take it off your hands. But they either want it for free or for you to pay them some money. Often that is better than continuing to eat maintenance fees, especially if you are not using it. My experience . . . they can be very hard to sell unless someone you know is willing to take it off your hands.
 

Eric Revo

Old Mossy Horns
Contributor
This was my first job as a Realtor in Florida, selling timeshare condo's on Panama City Beach...so I have a bit of experience in that area. Your best bet is as conman says..to rent the time slot out for the rest of the time you "own" that slot. You may contact the company that manages the property or time, whichever you own, and see if you can trade for a different propery that you may want to utilize more or is easier or more beneficial to rent if that is your preference. $400.00 a week is a great deal for a weeks vacation jut about anywhere, but if you're not gonna use it, rent it.
Timeshares aren't bad if you know what you're jumping into, but a lot of the sellers of these "properties" have a less than honest manner of getting unsuspecting folks to spend their money.
 

Stick&String

Old Mossy Horns
My dad sold his the week of his timeshare. To a couple that was looking to buy one from the time share group. He sold it for 1/3 of the price they wanted.
 

EMB

Ten Pointer
My outlaws, I mean in-laws had one on Captiva Island in Florida, South Seas Plantation. Pretty nice resort. They paid a decent amount for it and maintenance just kept going up and up. They finally decided to put it up, but the by-laws state that it must be sold through South Seas Planation reality company who sold it to them. The kicker was it was a 15% commission and they were told up front they probably would only see about half of what they paid, due to low demand. I think they ended up about 50% of what they originally paid.

My aunt had one in Delray Beach Florida on the beach. Maintenance was similar in the fact it kept getting higher every year. They tried to sell without luck and finally just to get out of it, they gave it back to the company.

Timeshares are a trap. They make you feel like you own something but really you don't. Think of all the people who pay big dollars for one week(most, some have more time) and pay those dues yearly, and ask yourself who is really coming out ahead? Hope you get lucky but from all the posts here and seeing what people I know went through, it doesn't look good.
 
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Stick&String

Old Mossy Horns
I did the math for a salesmen one time. He hated that I flipped the paper over and did his scheme on him. But think about it. Let's say there are 100 units (rentals) and they sell all of them for $10,000. Now that's for a week. There are 52 weeks per unit. The grand total it $52,000,000! For the properties. And another 2.6 million annually in maintenance fees at $500 per unit per week.

Great deal right?
 
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