Selling Nantucket Timeshare Advice

[KathyOnOBX]

Hi! My best friend Linda owns a timeshare at a 14 unit complex on Nantucket (Island, Mass). She needs to sell it or get out from under it. There is no outstanding balance on it. The maintenance fees are paid through 2019. Her fixed week #21 was last spring. It is not part of a points system. Purchase price was only $1,500 (and still is) for this and similar units. Maint fee is $988. There are no additional amenities, free or otherwise.

I'm trying to help her as she has no business sense to speak of! LOL The "resort" lists units that are currently for sale and for which week they are for sale. There are NO weeks for sale in any unit there except around Thanksgiving and Christmas. Her week is the week leading up to and including Memorial Day. Nantucket weather is questionable for that week! We were unable to find a renter this last spring for her unit, though we didn't know about TUG or RedWeek etc until today. I've spent the last few hours here reading up on everything.

My questions, if anyone is willing offer advice:
1. Looks like she'll have to essentially give it away. Does the value increase at all since there are few or no other timeshares on Nantucket, and none for sale at this resort in spring or summer?

2. If she ends up giving it away, how much are the associated costs for that? Closing? Maybe $300-$500 for closing? Other costs? Title transfer fees? Resort transfer fees? (She is flat broke.)

3. The onsite manager and management (by board of directors) are not nice or helpful in any way. Not flexible. Very cranky and snooty. Only sales agent they will go thru is a member of their board of directors. Meaning, calling them rarely results in getting any questions answered! Hard to find out if they charge transfer fees, for example.

4. At the resort's website it appears they are members of VRI Americas but the wording is very vague. Is that a reciprocity group? Does she have to pay to belong to that? Can she keep the timeshare and perhaps use it somewhere else? (She left New England and moved to Vegas a couple years ago.)

What else do we need to know, please? Thanks in advance for any help!

Kathy

 

[BPCguy]

Hi! My best friend Linda owns a timeshare at a 14 unit complex on Nantucket (Island, Mass). She needs to sell it or get out from under it. There is no outstanding balance on it. The maintenance fees are paid through 2019. Her fixed week #21 was last spring. It is not part of a points system. Purchase price was only $1,500 (and still is) for this and similar units. Maint fee is $988. There are no additional amenities, free or otherwise.

I'm trying to help her as she has no business sense to speak of! LOL The "resort" lists units that are currently for sale and for which week they are for sale. There are NO weeks for sale in any unit there except around Thanksgiving and Christmas. Her week is the week leading up to and including Memorial Day. Nantucket weather is questionable for that week! We were unable to find a renter this last spring for her unit, though we didn't know about TUG or RedWeek etc until today. I've spent the last few hours here reading up on everything.

My questions, if anyone is willing offer advice:
1. Looks like she'll have to essentially give it away. Does the value increase at all since there are few or no other timeshares on Nantucket, and none for sale at this resort in spring or summer?

2. If she ends up giving it away, how much are the associated costs for that? Closing? Maybe $300-$500 for closing? Other costs? Title transfer fees? Resort transfer fees? (She is flat broke.)

3. The onsite manager and management (by board of directors) are not nice or helpful in any way. Not flexible. Very cranky and snooty. Only sales agent they will go thru is a member of their board of directors. Meaning, calling them rarely results in getting any questions answered! Hard to find out if they charge transfer fees, for example.

4. At the resort's website it appears they are members of VRI Americas but the wording is very vague. Is that a reciprocity group? Does she have to pay to belong to that? Can she keep the timeshare and perhaps use it somewhere else? (She left New England and moved to Vegas a couple years ago.)

What else do we need to know, please? Thanks in advance for any help!

Kathy

Hello

Hi! My best friend Linda owns a timeshare at a 14 unit complex on Nantucket (Island, Mass). She needs to sell it or get out from under it. There is no outstanding balance on it. The maintenance fees are paid through 2019. Her fixed week #21 was last spring. It is not part of a points system. Purchase price was only $1,500 (and still is) for this and similar units. Maint fee is $988. There are no additional amenities, free or otherwise.

I'm trying to help her as she has no business sense to speak of! LOL The "resort" lists units that are currently for sale and for which week they are for sale. There are NO weeks for sale in any unit there except around Thanksgiving and Christmas. Her week is the week leading up to and including Memorial Day. Nantucket weather is questionable for that week! We were unable to find a renter this last spring for her unit, though we didn't know about TUG or RedWeek etc until today. I've spent the last few hours here reading up on everything.

My questions, if anyone is willing offer advice:
1. Looks like she'll have to essentially give it away. Does the value increase at all since there are few or no other timeshares on Nantucket, and none for sale at this resort in spring or summer?

2. If she ends up giving it away, how much are the associated costs for that? Closing? Maybe $300-$500 for closing? Other costs? Title transfer fees? Resort transfer fees? (She is flat broke.)

3. The onsite manager and management (by board of directors) are not nice or helpful in any way. Not flexible. Very cranky and snooty. Only sales agent they will go thru is a member of their board of directors. Meaning, calling them rarely results in getting any questions answered! Hard to find out if they charge transfer fees, for example.

4. At the resort's website it appears they are members of VRI Americas but the wording is very vague. Is that a reciprocity group? Does she have to pay to belong to that? Can she keep the timeshare and perhaps use it somewhere else? (She left New England and moved to Vegas a couple years ago.)

What else do we need to know, please? Thanks in advance for any help!

Kathy

Hello Kathy-
I own 2 weeks at this resort and am happy to help answer questions. Please feel free to private message me and I’ll share my email that way. I may even be interested myself!

It is possible to sell spring weeks at Brant Point Courtyard, although this is not peak time for Nantucket. The season (and the flights & amenities) don’t really get going until the last week of June. I think you will find a taker, but don’t expect a large purchase price. TUG is a fine place to list it. The owners resale list is another. If you email the board member and ask for it, you will see a few other spring weeks listed.

You can also consider renting it via an on-island service like Nantucket Accommodations. It should rent for about the maintenance fee, especially in years when it falls on Memorial Day.

For closing costs expect a $175 closing fee plus local document stamp and tax payments of around $200. Most everyone on TUG will recommend using LT Transfers, and they have indeed done one of my closings. More expensive options are out there as well. It is also possible to do it yourself, but there is no escaping the $200 in local taxes. As far as who pays, that is up for negotiation with the buyer.

I’m glad you found TUG and will look for your message.

Alex

 

[KathyOnOBX]

Hi Alex. Thanks for your quick reply! I don’t see a way to reply privately to you. Duh! Lol. Let’s talk.

I’ve been to Brandt Point a few times. Love it so much! Stayed in a different unit but it’s just next door to the one for sale.

Look forward to hearing from you!

Kathy

 

[Sandy VDH]

I don’t see a way to reply privately to you.
Kathy

click on their name ( in Blue), from that popup window select "start a conversation"

 

[CPNY]

Hi! My best friend Linda owns a timeshare at a 14 unit complex on Nantucket (Island, Mass). She needs to sell it or get out from under it. There is no outstanding balance on it. The maintenance fees are paid through 2019. Her fixed week #21 was last spring. It is not part of a points system. Purchase price was only $1,500 (and still is) for this and similar units. Maint fee is $988. There are no additional amenities, free or otherwise.

I'm trying to help her as she has no business sense to speak of! LOL The "resort" lists units that are currently for sale and for which week they are for sale. There are NO weeks for sale in any unit there except around Thanksgiving and Christmas. Her week is the week leading up to and including Memorial Day. Nantucket weather is questionable for that week! We were unable to find a renter this last spring for her unit, though we didn't know about TUG or RedWeek etc until today. I've spent the last few hours here reading up on everything.

My questions, if anyone is willing offer advice:
1. Looks like she'll have to essentially give it away. Does the value increase at all since there are few or no other timeshares on Nantucket, and none for sale at this resort in spring or summer?

2. If she ends up giving it away, how much are the associated costs for that? Closing? Maybe $300-$500 for closing? Other costs? Title transfer fees? Resort transfer fees? (She is flat broke.)

3. The onsite manager and management (by board of directors) are not nice or helpful in any way. Not flexible. Very cranky and snooty. Only sales agent they will go thru is a member of their board of directors. Meaning, calling them rarely results in getting any questions answered! Hard to find out if they charge transfer fees, for example.

4. At the resort's website it appears they are members of VRI Americas but the wording is very vague. Is that a reciprocity group? Does she have to pay to belong to that? Can she keep the timeshare and perhaps use it somewhere else? (She left New England and moved to Vegas a couple years ago.)

What else do we need to know, please? Thanks in advance for any help!

Kathy

The buyer should pay closing, use LT Transfers. They are the least expensive usually

 

[TheTimeTraveler]

The buyer should pay closing, use LT Transfers. They are the least expensive usually

And they do a great job! Their website is below:


www.LTTransfers.com






.

 

[CPNY]

And they do a great job! Their website is below:


www.LTTransfers.com






.

Using them on a resale I bought on ebay Monday, charged 263 including EVERYTHING the title is already being recorded.