Has anyone ever sold a timeshare?

woodstock

woodstock

Final Approach
Joined
Feb 23, 2005
Messages
9,342
Location
Out of a suitcase
Display Name
Display name:
iTravel
My parents have a timeshare they are thinking of selling. Apparently going to the same place every year is kind of a drag.

Any tips on selling it? Is there a broker who does this kind of thing?

I'm not sure of the name of the timeshare company they bought it from.
 
Elizabeth, sorry to say this but I think its gong to be tough. In the rough economy folks are trying to unload timeshares like dirty diapers. There are companies that are out there that will buy them but at a steep steep discount. If the carrying fees are reasonable and their rules permit it they may just want to try to rent it out annually. A quick google search will enable them to find some of these companies that buy them up.
 
From what I hear selling time shares isn't happening now.
 
Frankly I don't think they care if they make money on the time share itself, they just don't want to pay the annual fee for the burden privilege of using it every year.

I don't see how anyone thinks timeshares are a good idea. It isn't even a bargain when you get done - you're still paying for the week/two weeks you have - and you are locked into it annually. Yes, I told them this when they bought it.
 
I have had a couple friends who sell (new) timeshares and make a killing ($300-$400k+). Their offices employ some ridiculous tactics like telling people even if they don't buy to pop champagne bottles and everyone claps to make it seem like they just bought to other prospects in the room. But - some people actually do like what they bought and end up buying more. I've seen some for sale on ebay or other listing sites.
 
N801BH said:
I am gonna guess Kissimmee Fla.. where the other 1,237,548 timeshares are located.:yesnod::hairraise:
Click to expand...

Hahaha. No. They do have a home in Florida for winters but the timeshare is in Tennessee. They usually spend their week hiking in the Smokies.
 
AirDC said:
I have had a couple friends who sell (new) timeshares and make a killing ($300-$400k+). Their offices employ some ridiculous tactics like telling people even if they don't buy to pop champagne bottles and everyone claps to make it seem like they just bought to other prospects in the room. But - some people actually do like what they bought and end up buying more. I've seen some for sale on ebay or other listing sites.
Click to expand...

That's nutty. Who would spend 300-400K on a few weeks a year - even if it's a luxury property. 5 star hotels for a week wouldn't cost that much and you can go anywhere you like.
 
woodstock said:
That's nutty. Who would spend 300-400K on a few weeks a year - even if it's a luxury property. 5 star hotels for a week wouldn't cost that much and you can go anywhere you like.
Click to expand...

I meant my friends MAKE that much per year. No one is purchasing that much in timeshares.

The most expensive ones that I know a couple people who own are http://www.exclusiveresorts.com/. Its something like $170,000 for a share (for 20 days) and you pay $20k a year in upkeep. But you are renting out multimillion dollar private residences all over the world. They seem happy with it.
 
Normally the timeshare management company has a sales office. I guess it depends on how much they want for it.
 
Whatever they do, don't let them fall for the outfits that charge a fee up front. They'll claim that is the only way they are allowed to operate, but it is a scam. They'll collect your parents' money and do nothing.

Good luck.
 
My in-laws have a Marriott version. They can trade their 2 weeks in SC for time shares wherever domestically or internationally there's a Marriott timeshare suite available. A lot of them are very nice, the bride and I have gone on a couple trips. They've had it for 20 years or so, and it's worked out pretty well. But now that the grandkids are getting older,
they want to get rid of theirs too. Marriott has some offer where for additional money, they'll swap it out for stays in hotels.
Such a deal....
 
Marriott is about the only timeshare presentation we've viewed that we gave serious consideration to.
 
I've heard its pretty decent if you can trade the timeshare. I attended an ISO auditing class and the guy teaching it was semi-retired and had several timeshares. When he got tired of one he would trade it for something else. He said usually if you are smart with your trades you can really trade "up". Maybe they can trade it for a new place they would be interested in visiting instead of selling for peanuts.
 
In-laws have Mariott. They like it. They've traded and gone different places in the retirement years.

I doubt they'll sell it until they can't travel at all anymore. Being he's an ex-Probate attorney, maybe he's drawn up plans to leave it to the kids.

Dad has a "traditional" timeshare in Steamboat Springs but it works for him because it's for a particular "mission", kinda like buying the right airplane... he spends a week long vacation skiing up there every year.

He bought into a VERY nice place and it has "space available" cheap hotel-style rates for owners in the off-season. We've stayed up there in the summer, very reasonably.

The bartender and regular guitar player know dad and we had a ball chatting with them. Steamboat's a great town.

So I'd say a timeshare is a great way to be able to "own" a piece of something nicer than you'd normally buy outright, if you have a specific need to go to that place every year. If not, rent.

Plenty of folks rent out whole homes/cabins around here via companies or often via their own websites for extra cash, up in the mountains 'round here. Or use 'em as trade bait for house swapping.
 
Played golf in Palm Springs with several time-share owners who are quite happy with their deals, many of them with Marriott. But they bought them on the secondary market, many at discounts of 70-80% of original cost.

OTOH, I'll happily continue to rent.
 
I've been to a few time share presentations while on work trips in Mexico just to kill time and get free stuff. I have no problem saying "no". One time I went with a flying buddy and the next thing you know he's buying it. :yikes:

I think he likes it, though. They've been down there a few times. I also think it's one you can trade if you want. I listened to at least that much of the presentation...
 
denverpilot said:
Steamboat's a great town.
Click to expand...

+1 on Steamboat. Haven't been for a few years, but the skiing was terrific, the restaurants above average and the people outstanding.

Like Leadville a lot too.
 
You must log in or register to reply here.
Back
Top