Sell Timeshare in Avon/Vail Colorado

[COKY]

Unable to travel in high altitudes due to lung illness. Own a 2 bedroom at Falcon Point in Avon, CO summer week paid ownership, only pay maintenance dues approx 1k/year. Beautiful area with a park a fishing & paddle boat lake. Lots of out door activities around. Please email if interested.
carolokistler@aol.com

 

[mjm1]

Not sure of the value but you should consider listing it for sale on the TUG Marketplace and redweek.com. You could also list it for auction on eBay. If there isn’t much if any value for it list it in the Bargain section on TUG Marketplace.

Good luck.

Mike

 

[COKY]

Not sure of the value but you should consider listing it for sale on the TUG Marketplace and redweek.com. You could also list it for auction on eBay. If there isn’t much if any value for it list it in the Bargain section on TUG Marketplace.

Good luck.

Mike

Thank you for the info! I listed it on TUG, but not on the Bargain section I guess it should be, I just want to get rid of it!

 

[scootr5]

I've stayed at Falcon Point in the summer. It's a nice little resort in a really good location. Hopefully you find a taker.

 

[COKY]

Thank you for the info! I listed it on TUG, but not on the Bargain section I guess it should be, I just want to get rid of it!

I listed on the Market Place no nibbles, I really would like to sell it quick as my health is not getting any better worrying about this. Any ideas?

 

[COKY]

I've stayed at Falcon Point in the summer. It's a nice little resort in a really good location. Hopefully you find a taker.

It is a very nice place have fond memories of it. No nibbles, I really would like to sell it quick as my health is not getting any better worrying about this. Any ideas?

 

[CalGalTraveler]

Try timesharenation.com

 

[Crafty71]

I notice on the Falcon Point website that they have a link to "resales"...have you contacted them to find out if you can deed it back to the HOA or the developer...?

Cheers!

 

[COKY]

I notice on the Falcon Point website that they have a link to "resales"...have you contacted them to find out if you can deed it back to the HOA or the developer...?

Cheers!

This is what they said: Kinda pricey to me!
1) You can put it on the resale list. It can take 3 or so years to sell. The listing price would be $1,800 with a 20% commission on the final sales price and about $400-500 in closing fees. I think I have to pay the maintenance due while it is on the list.

2) You can do a deed back which means you can deed back your week to Falcon Point with 2 years of maintenance dues plus $225 in legal processing fees. With your 2 bedroom summer week would owe:$2,337.The $2,337 would need to be paid once you get the legal documents from our attorney in the mail (can take up to 2 weeks) in the form of a person check which can take up to 3 weeks to clear or a cashier’s check which is most preferred with less time to clear.

 

[sandkastle4966]

You will pay MF "waiting" (read HOPING) to sell for a net $1000. If you sell it

Or deed it back and the sales team is now motivated to sell it because now THEY own the long term commit...….

is it worth a gamble?

 

[COKY]

You will pay MF "waiting" (read HOPING) to sell for a net $1000. If you sell it

Or deed it back and the sales team is now motivated to sell it because now THEY own the long term commit...….

is it worth a gamble?

You will pay MF "waiting" (read HOPING) to sell for a net $1000. If you sell it

Or deed it back and the sales team is now motivated to sell it because now THEY own the long term commit...….

is it worth a gamble?

You will pay MF "waiting" (read HOPING) to sell for a net $1000. If you sell it

Or deed it back and the sales team is now motivated to sell it because now THEY own the long term commit...….

is it worth a gamble?

Paying MF until they sell it is no motivation to sell it for me, they still can rent it out to make $$. Not sure on that idea. Deed it back to them I still pay MF no motivation for them to sell it either. I feel they won't help me out with this, I've been paying monthly payments to satisfy my MF, and have not used in over 4 years because of health problems. Thank you for the advise, I wish there was a easy way to get rid of it.

 

[TheTimeTraveler]

Paying MF until they sell it is no motivation to sell it for me, they still can rent it out to make $$. Not sure on that idea. Deed it back to them I still pay MF no motivation for them to sell it either. I feel they won't help me out with this, I've been paying monthly payments to satisfy my MF, and have not used in over 4 years because of health problems. Thank you for the advise, I wish there was a easy way to get rid of it.

Why would you continue paying maintenance fees if you deed it back to them? Yes, they may require $2,562, but after that you should be 100% out of it. FOREVER.

You've been paying maintenance fees for each of the last four years and haven't used it once. If you are unable to sell it then it seems like a smart financial move to me.



.

 

[COKY]

Why would you continue paying maintenance fees if you deed it back to them? Yes, they may require $2,562, but after that you should be 100% out of it. FOREVER.

You've been paying maintenance fees for each of the last four years and haven't used it once. If you are unable to sell it then it seems like a smart financial move to me.

That's what they told me but I will clarify it, thanks! Yes it now sounds stupid that I paid MF for so long, I hoped that my health would improve so I could use it. My health improved for a short time and everything got worse, I was naive to think I would recover & go there again. I just don't have the $2,562 right now so I will have to figure it out. Thanks for the advise!


.

 

[COKY]

I asked them why would I still be paying MF if I deed it back to them there reply is:
The reason the association collects dues is because the week may not sell for years and may or may not make any money by renting it. The dues still have to be paid annually by the association year after year. You will find this expense on your annual budget (Association Owned Dues). You can transfer your week to anyone who will accept the deed but not to the association without payment.
Still don't know what do...

 

[TheTimeTraveler]

I asked them why would I still be paying MF if I deed it back to them there reply is:
The reason the association collects dues is because the week may not sell for years and may or may not make any money by renting it. The dues still have to be paid annually by the association year after year. You will find this expense on your annual budget (Association Owned Dues). You can transfer your week to anyone who will accept the deed but not to the association without payment.
Still don't know what do...

Post #12 spells it out pretty clearly for you.

If you can't sell it or give it away then continue paying for it each year like you have been and not use it (you yourself said you hadn't used it in four years), or make a final one time payment and be off the hook legally. It will no longer be an asset for you and likewise it will no longer be a liability for you. Free and clear at last!

Best of luck!



.

 

[CO skier]

Deed it back to them I still pay MF no motivation for them to sell it either.

I think you do not understand the deedback offer. It sounds like what many small resorts offer -- prepay 2 years of maintenance fees and transfer costs and the resort will take back your timeshare.

You pay the $2337, they send you the paperwork to transfer your deed to their name (probably the resort Association). Once the deed is recorded (usually 2-3 months) you are done paying maintenance fees. The resort now owns the timeshare and is responsible for the mf. That is the easy way out, but it comes at a price.

Or, you could develop a marketing plan which would start by changing the selling price to $1 and list it in the TUG bargain basement in additional to the Marketplace. Have a closing company arranged to handle the transfer and a purchase agreement ready for the buyer to sign. In the ad, offer to pay all closing costs (which should be only a few hundred dollars if you use one of the closing companies often mentioned on TUG). Reserve a July or early August 2020 week now, while they are available. List the dates of the vacation week in the ad. The new owner can change the dates, subject to availability.

You should have no difficulty finding a buyer for a Vail Valley timeshare under these terms.

 

[COKY]

Try timesharenation.com

Have you used them to sell off your unit? I'm a little skeptical

 

[CalGalTraveler]

Have you used them to sell off your unit? I'm a little skeptical

I haven't used myself but it has been recommended by other Tuggers. Not sure of their listing fees though.

What do you have to lose if you list it? (unless they want large listing fees)

Sounds like deeding back or walking are your best options. You said you don't have $2,500. It's too bad you paid MF for the past 4 years and didn't use because that would have paid for your deedback. The HOA got rental income from your MF of non-use for free. That's pure profit to them. If you don't have the $2,500 to deed it back call them and tell them that. (but talk to a lawyer first so you are not giving up rights.) They are trying to see how much they can get out of you. (IMHO) $2500 seems high. These deedbacks should be $1000 or less.

If you don't have the money, perhaps you could walk and let them foreclose if you don't need credit and don't have assets that they could garnish? I would go online at RocketLawyer.com and ask a question of the community and see if you can speak for an hour with a Colorado foreclosure attorney. (about $100) or find a lawyer before taking action.

 

[CalGalTraveler]

Here is a link to Colorado State Laws. Colorado doesn't appear to be an anti-deficiency state when it comes to timeshares so you may be on the hook for any non-payment of MF, but if you don't have assets they can garnish it doesn't matter. Speak to a lawyer about this or find the $2,700 and be done with this. An anti-deficiency state (CA, FL, SC) means that all they can do after proper foreclosure is take back the timeshare. They cannot place a lien on your home or wages. However there are specific steps you need to take to ensure this happens in Florida and SC so you need legal guidance.

Colorado – CO: http://leg.colorado.gov/sites/default/files/images/olls/crs2018-title-38.pdf (begins pg. 286)

 

[COKY]

I haven't used myself but it has been recommended by other Tuggers. Not sure of their listing fees though.

What do you have to lose if you list it? (unless they want large listing fees)

Sounds like deeding back or walking are your best options. You said you don't have $2,500. It's too bad you paid MF for the past 4 years and didn't use because that would have paid for your deedback. The HOA got rental income from your MF of non-use for free. That's pure profit to them. If you don't have the $2,500 to deed it back call them and tell them that. (but talk to a lawyer first so you are not giving up rights.) They are trying to see how much they can get out of you. (IMHO) $2500 seems high. These deedbacks should be $1000 or less.

If you don't have the money, perhaps you could walk and let them foreclose if you don't need credit and don't have assets that they could garnish? I would go online at RocketLawyer.com and ask a question of the community and see if you can speak for an hour with a Colorado foreclosure attorney. (about $100) or find a lawyer before taking action.

I made monthly payments for the MF's as I told them I was not able to use it & could not afford the full semi yearly MF's. I'm telling them again I don't have the $2500 & can scrape up $1,000 to deed it back.Letting them foreclose will not work as I am 65 with health issues & need a credit line available. Thank you for the advise!

 

[CalGalTraveler]

I made monthly payments for the MF's as I told them I was not able to use it & could not afford the full semi yearly MF's. I'm telling them again I don't have the $2500 & can scrape up $1,000 to deed it back.Letting them foreclose will not work as I am 65 with health issues & need a credit line available. Thank you for the advise!

This is extortion. You paid your bills in good faith. This is fully paid off. You need a lawyer but you could spend more on lawyers than the $2700. The HOA knows this and they are taking advantage of you.

If you need your credit line and you have one, then use your credit line, deed it back and get rid of this albatross. I think you could take them to small claims court for the money but you need a paper trail that you are complaining about their fee is extortion. You could compare to major hotel brands in which the fee is $1000.

Before you pay them, spend an hour with a Colorado foreclosure lawyer and then you can decide. They may be able to write a threatening letter to the HOA and negotiate a payment plan or reduction in fees. Be careful not to overspend on a lawyer so no more than an hour. You can probably find one on RocketLawyer or AVVO.

BTW...many of these legal websites also allow free initial consultations. Sometimes you can get advice and not spend a dime. Tell them you are elderly and have health issues. There are also free forums on some of these sites where you can ask for your options there. Lawyers will respond.

 

[COKY]

Thank you all for the advise, you have given me some "ideas" to work on with them. Colo. is a booming state now, so I'm hoping to use that for my advantage. Have the best weekend all!