Question about selling

Tough It Out & Do Not Get Taken In.

sharefree4all said:

My question how does one find a legit FMV to target when posting ads to sell their timeshare.

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Check eBay completed auctions for realistic timeshare resale values.

Somebody on TUG-BBS recently bought an eBay [timeshare week] (right across the street from [your resort] ) for a dollar.

Current values of many timeshares are right about at the Zero level.

eBay is likely your best chance for a sure sale if you list your timeshare there for $1 with no reserve.

You're smart not to get taken in by those phony-baloney up-front fee companies that pretend they'll sell your timeshare for you when all they'll really do is cash your check & put an unrealistic listing on some semi-obscure web site somewhere so they can direct you to that if you complain that nobody's buying even though you shelled out big bux in advance for the company's supposed services.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

Some very strong recommendations....

1. Start by reading (and studying) the "How to Sell" article located at the top of the list of topics for this Buying, Selling, Renting forum.

2. Pay particular attention to the advice in that article regarding paying upfront fees (Don't!) in an effort to sell your timeshare.

3. Look at the list of frequently mentioned resale companies - also located at the top of the list of topics for this forum. That will help you to choose places to list your timeshare. The other listings on that site will also help guide you as to what asking price to use.

4. Note that buyers will seek to pay the lowest price (or negotiate for a lower price) when looking to make a purchase. So keep that in mind when establishing an asking price.

5. The resale market for all but the best timeshares in the best seasons (e.g., a July week on the beach) is almost dead right now. There are many more sellers than buyers. So keep your expectations very low!

Thanks!

Thank you for the information. I will check out the information on this site that you (Dave) noted and will go from there. AWG, thanks for the information as well. We would certainly not pay someone up-front for anything, but your comment about Ebay makes me think we may just want to retain this - possibly if/when the market for such is better than you noted.

One other ownership question, if it is ok to ask here (if not please direct me to the appropriate area). We have used RCI in the past to trade for locations other than the one we own, but the past two experiences have not been pleasant - in fact the last one ending in a BBB claim and us getting our fees refunded! That being the case, we are no longer members to a trading company. As a timeshare owner, after I make my reservation do I have the right to rent my unit to someone else? We have been considering that in lieu of trading and just taking the proceeds and renting elsewhere (kind of trading without the trading company). Is this possible and, if so, do you have any helpful tips/information about doing this?

You can absolutely rent any week you own, you cannot rent exchanges, in most cases. (See the list at the top of the Exchange Board, in the Exchange Company Info. Sticky.)

At the top of this forum (Buying, Selling, Renting) there is a whole article about how to rent your timeshare.

Most likely it is perfectly okay to rent your unit. A very few timeshares (e.g., HGVC resorts) have a prohibition against doing so. Most do not.

You can find out if there is such a prohibition by carefully reading the legal documents (declaration, by-laws and program rules) that you got when you purchased your timeshare. Alternatively, call the resort and ask, recognizing that any answer you get could be wrong unless they can point you to a written confirmation of what they tell you.

Thanks again

Thank you, Denise and Dave, I appreciate the answers. From the point that we could actually reserve and then just rent, I think it may be best - at least for now - for us to hold onto the timeshare. The maintenance fees / taxes aren't outrageous, we just thought it would be easier to sell and then just travel where we want - no strings attached. However as long as we can rent the time, we still can do the same; just on our own. Thanks so very much for your assistance.

If you like to travel, and your MF are low, I'd suggest that you hang out with us a bit and learn how to get the most out of your TS. After you learn a few tricks of the trade, I bet you will like timesharing a lot more!

I Resemble That Remark.

sharefree4all said:

As a timeshare owner, after I make my reservation do I have the right to rent my unit to someone else? We have been considering that in lieu of trading and just taking the proceeds and renting elsewhere (kind of trading without the trading company). Is this possible and, if so, do you have any helpful tips/information about doing this?

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In recent years, we've been renting out our timeshare (same as your timeshare, in fact -- wink wink, nudge nudge -- unless I miss my guess ) for enough to cover fees, with a little something left over. Then we use the little something to pay for our own RCI Last Call & Instant Exchange reservations at other people's timeshares -- closest we can come to vacationing el freebo.

We do not have renters lined up for 2010, however, & so there is a possibility we'll be taking a "surprise" vacation there ourselves if that situation does not change.

1 never know, do 1 ?

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

I have seen the values for my timeshares on Ebay and it is certainly discouraging but if your getting good use out of it than it can't be all that bad. I am just going to keep an eye on how my fees increase, and when I decide it's not worth it anymore- I'll take a look at my options.