How to Sell My Timeshare

Please, looking for some direction to sell my Cancun timeshare. First of all
has anyone heard of "Sell My Timeshare Now" Margaret Noonan" Orlando, Florida
?
I have had numerous calls and I was bitten once. Twice shy!! Would appreciate some direction from the TUG experts.

They are a SCAM! Never, I mean never pay anyone money upfront to sell your timeshare. List it on eBay or have a legit eBay timeshare seller sell it for you. You may have to give it away - timeshares have little to no value.

Unfortunately, you will be lucky to even give away a timeshare in Mexico - the market is flooded with free timeshares.

There is a simple rule of thumb for timeshare business offers:

NEVER, EVER pay a high upfront fee (more than a $50 listing fee) to sell your timeshare. The companies that charge a high upfront fee already have your money, so why should they make any effort to actually SELL your timeshare?

How to give your timeshare away on TUG:
http://www.tugbbs.com/forums/showthread.php?t=132509

read the 'How to sell my timeshare' sticky at the top of the buying, selling, renting forum.

most important. Do not EVER pay anyone upfront to sell your timeshare. Commissions come out of the proceeds of the sale. You might try listing it in the Bargain Deals forum. Just remember, it is not worth anything like what you paid for it.

Best Wishes

Jim

morrisjim said:

They are a SCAM! Never, I mean never pay anyone money upfront to sell your timeshare. List it on eBay or have a legit eBay timeshare seller sell it for you. You may have to give it away - timeshares have little to no value.

Click to expand...

Thank you for your honest opinion... have read a lot of articles on TUG. Perhaps, just looking for confirmation.

Passepartout said:

read the 'How to sell my timeshare' sticky at the top of the buying, selling, renting forum.

most important. Do not EVER pay anyone upfront to sell your timeshare. Commissions come out of the proceeds of the sale. You might try listing it in the Bargain Deals forum. Just remember, it is not worth anything like what you paid for it.

Best Wishes

Jim

Click to expand...

Thanking you for your comments..

DeniseM said:

Unfortunately, you will be lucky to even give away a timeshare in Mexico - the market is flooded with free timeshares.

There is a simple rule of thumb for timeshare business offers:

NEVER, EVER pay a high upfront fee (more than a $50 listing fee) to sell your timeshare. The companies that charge a high upfront fee already have your money, so why should they make any effort to actually SELL your timeshare?

How to give your timeshare away on TUG:
http://www.tugbbs.com/forums/showthread.php?t=132509

Click to expand...

Thank you for your comments... where do I go Now

ginnyw said:

Thank you for your comments... where do I go Now

Click to expand...

Become a member for $15 and Post it on tug marketplace under bargain deals or in the bargains forums.

ginnyw said:

Thank you for your comments... where do I go Now

Click to expand...

CLICK ON THIS LINK -> How to give your timeshare away on TUG:

Has anyone ever bought from SellMyTimeshareNOW? I look at their listings occasionally, and they do have a bunch.

artringwald said:

Has anyone ever bought from SellMyTimeshareNOW? I look at their listings occasionally, and they do have a bunch.

Click to expand...

Nobody has ever bought from them because they don't sell timeshares, just like TUG doesn't sell timeshares. They are just a website where you list your timeshare and nothing more. If you try and buy a timeshare on their site you are dealing with the person that posted the ad and not selltimesharenow. They do not provide any services whatsoever beyond the website. The closing services offered are 3rd party.

Where the scam comes into play is they take people's money and let them think that their grossly inflated list price will ever sell. Almost all of the listings on sellmetimesharenow are for prices so far above market that they will never sell in a million years.

Here is a drastic example. This Marriott week is a "featured" listing and the price is $44,900. Marriott's resale department sells the same week for $10,900. I can't help but think that they took some poor saps money and let them believe that the price was realistic.

http://www.sellmytimesharenow.com/timeshares/index/content/details/AdNumber/1770722/

I am curious how successful browsing and low balling is. The sellers obviously have a distorted view of the value even though selltimesharenow supposedly offers a free tool to value your timeshare.

Saintsfanfl said:

Nobody has ever bought from them because they don't sell timeshares, just like TUG doesn't sell timeshares. They are just a website where you list your timeshare and nothing more.

Click to expand...

I heard/read that they do have a full-service broker service where they take their commission out of the proceeds of the sale. However, their minimum commission is $2000. There are some brokers on http://ltrba.com that charge only $1000. That's quite a difference.

But, as you said, SMTN seems to lead its clients to believe that their TSs are worth tens of thousands of dollars resale even though many similar units are being listed for $1 on E-bay (sometimes with no takers).

LannyPC said:

I heard/read that they do have a full-service broker service where they take their commission out of the proceeds of the sale. However, their minimum commission is $2000. There are some brokers on http://ltrba.com that charge only $1000. That's quite a difference.

Click to expand...

They technically do not provide broker services. What they do is refer the customer to timesharebrokerservices.com which is a separate operation and may or may not be owned by the same people.

artringwald said:

Has anyone ever bought from SellMyTimeshareNOW? I look at their listings occasionally, and they do have a bunch.

Click to expand...

they "have a bunch" because their ads never expire.

How to get rid of a timeshare?

Hello there.

I live in Brazil, and last year I traveled to the USA and stayed on a hotel (Vacation Village at Weston) where I was introduced to the RCI Points. They talked about all the advantages I would have, so I fell for it, , bought a 92.000 points week of the Vacation Village at Parkway, paid more than US$ 2.000 plus 72 monthly fees of around US$ 470 for mortagages, not to mention the yearly fee (US$ 768).

Like everybody else, I thought that with this system I would pay too litle to travel around the world for the rest of my life. Well, I slowly realized the deal was not nearly as good as they told me.

So I'd like to know what would happen if I just stop paying the montly fees. I live in Brazil, I have no business in the USA, although I'd like to travel there sometimes. From what I see, I will lose more money if I try to sell my week than if I just stop paying for it.

So what do you guys recommend me to do?

LegendBR said:

So I'd like to know what would happen if I just stop paying the montly fees. I live in Brazil, I have no business in the USA, although I'd like to travel there sometimes. From what I see, I will lose more money if I try to sell my week than if I just stop paying for it.

Click to expand...

You can start with this article:

http://tug2.net/timeshare_advice/stop_paying_for_timeshare.html

That article should have a link to the forum about how you can give your TS away for free here on TUG.

If I understand your predicament correctly, you still owe money on the purchase price (mortgage). If that is the case, your TS will be virtually impossible to sell or give away. Make sure you have your mortgage paid off and your maintenance fees up to date first.

You also mentioned that you are having a hard time finding good vacations. If you hold on to your interval while you are trying to pay it off, I would suggest that you read on these boards how to make good use through exchanges. The people who sold you the interval probably only mentioned one of the "big 2" exchange companies (RCI or II). There are some smaller independent exchange companies such as Dial-an-Exchange (DAE), San Francisco exchange (SFX) or Platinum Interchange, etc.

Sorry, forgot to add...

LegendBR said:

bought a 92.000 points week of the Vacation Village at Parkway, paid more than US$ 2.000 plus 72 monthly fees of around US$ 470 for mortagages,

So what do you guys recommend me to do?

Click to expand...

Ouch! That's pretty steep. So you do have a mortgage owing on it. That is probably very steep interest. If you decide that you will try to pay off the mortgage, may I suggest finding a loan from another party at a far lower interest rate? If you can pay off the mortgage lender, then you will be free to try to sell or give away your unit. Of course you would still have to deal with this lower-interest rate lender.:annoyed:

One word of caution is in order for people in your predicament. Watch out for all the scammers out there who prey on people in situations like yours. They may have great-sounding promises such as "Cancel your mortgage", "End your timeshare agreement", "Eliminate your maintenance fees", etc. They are usually scams because they will ask for an upfront fee, do nothing, and then leave you still stuck with your timeshare.

LegendBR said:

Hello there.

I live in Brazil, and last year I traveled to the USA and stayed on a hotel (Vacation Village at Weston) where I was introduced to the RCI Points. They talked about all the advantages I would have, so I fell for it, , bought a 92.000 points week of the Vacation Village at Parkway, paid more than US$ 2.000 plus 72 monthly fees of around US$ 470 for mortagages, not to mention the yearly fee (US$ 768).

Like everybody else, I thought that with this system I would pay too litle to travel around the world for the rest of my life. Well, I slowly realized the deal was not nearly as good as they told me.

So I'd like to know what would happen if I just stop paying the montly fees. I live in Brazil, I have no business in the USA, although I'd like to travel there sometimes. From what I see, I will lose more money if I try to sell my week than if I just stop paying for it.

So what do you guys recommend me to do?

Click to expand...

Welcome to TUG, I recommend you first read this thread. It's long but very informative. I'm not an attorney but since you do not live in this country I doubt there is much anyone can do to you if you just stop making all payments.
http://www.tugbbs.com/forums/showthread.php?t=207320

You will lose any money you have already paid but if the timeshare has no resale value at least you will save the monthly fees for the rest of your life.