posted 03-22-2005 20:05            

Anyway, I know I shouldn't pay anyone up front to sell it for me, and saw some other advice about "open house" not being really open house. But, what other advice do you have? Should I try to sell it back to the 'developer' some how? I saw a couple properties for sell on ebay, but that scares me, just because I'm not an ebay user I guess.

When I google for this type of stuff, I mostly get info about sub renting my week out.

Thanks for any pointers or links.

Chris

[Edited to delete resort information to avoid the appearance of an advertisement. Dave M]

posted 03-23-2005 07:44               

quote:

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Originally posted by ChrisG:
... I have decided that the maintenance fees and property taxes are just too much.

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Welcome to TUG.

Your statement stikes me as if you're incorrectly assessing the ongoing costs of ownership. Let's say you hypothetically paid $15,000 for the deed and are in for $700/year M/F. I can show you that this developer purchase will cost you an average of $1500+$700 = $2200 per week of usage for the next 10 years, neglecting financing costs. Had you realized this at the sales pitch, you might have corrrectly stated, "I can't afford $320/night vacations, and said "no".

However, had someone given you the timeshare for "zero" upfront capital, you'd be saying "wow, I can take a luxurious vacation and ALL I have to pay is the $700 per week of usage Maintenance Fee. That's only $100/night....that's a luxurious condo for the price of Holiday Inn, and you'd be happy.

So....my point is, the real expensive part of the typical developer priced TS is the upfront capital, not the ongoing M/F.

I'd encourage you to realize that the resale value of your timeshare is likely 25% of developer's cost. So it's now only worth $4,000 (in my example; your milage may vary).

So...decide today if you're happy owning a $4000 TS deed, w/ ongoing $700 M/F. Nothing you do from here on out will bring back the $11,000 in depreciation....that's gone for good.

Had you bought resale for $4000, I'd say your costs will be something like $400+$700= $1100 per week of usage for the next 10 years. Do you want to take ten (or more) $1100 vacations? or do you want $4000 cash in the bank, take your lumps and go back to renting hotels? (but the $11k is gone in either case). The developer extracted that $11k from your wallet the day you bought the deed for $11k more than it's worth.

Hat

posted 03-23-2005 10:17               

Best of luck and welcome to TUG.

posted 03-30-2005 08:19               

The first two we sold ourselves through Internet ads, with the closing handled by Timeshare Transfer, inc. Then we sold an EOY through an Internet ad, again with the closing handled by Timeshare Transfer.

When our last EOY did not sell we donated it to the German Language School, with the transfer handled by Timeshare Transfer, Inc.

Seems like there's a pattern there.

I suggest you put "timeshares for sale" in google and do some studying. Pick some sites that look good, coming back here to ask about them, and then place some ads.

When you have a buyer contact Susan Gale:

susan@timesharetransfer.com

posted 03-30-2005 13:14               

They have enough other t/s's that they barely use now that having 2 less wouldn't impact them. It was sort of an okay situation a few years ago when m/f's were about $850/yr. But now, even if they hold out saying, "We won't give them away, we want at least $x for it", by the time they wait that long, if they get that money, it's probably cost them more in fees for the last few years.