I%26#39;ve been ripped off twice by so-called timeshare selling agents(one was RI Stromann, i forget the other one), I don%26#39;t know how to dispose of my timeshare. has anyone have ideas? I recently heard of redweek.com(do you know who pays for the closing fees?), but i%26#39;m afraid to waste more money.....any thoughts? thx for the help.
Orlando timeshare selling
You can go to a site called bidshares.com, and list it for free on there. I actually bought one from this site. You can also list on the real estate section on EBAY. The closing costs are almost always paid by the buyer. Just be prepared, if you bought these at full price from a developer, to recieve a fraction of the price you purchased these for depending on the resort and week-season. Just out of curiousity, where do you own, and what week do you own and I may be able to give you a ballpark figure on what you might expect to get for it, as I watch these sales quite a bit.
Orlando timeshare selling
Do not be drawn into paying anyone to list your timeshare for sale.
These people never do what they promise - except take your money.
RCI (the major timeshare exchange company) used to have a website and the number of people who were caught this way was unbelievable.
If you want to know about timeshare, buying, selling or exchanging log onto www.tug2.net
This site will tell you all you wish to know. There is an annual subscription of $15, but you can log on for free as a guest and access the pages you require for information on selling your timeshare.
We have a timeshare and love it, but it is not for every body.
Thanks for the help. I actually own 2 timeshares. I own 2Bd/2Ba lockoff unit at the Vacation Village at Bonaventure in Ft. Lauderdale. I think it%26#39;s week 41. Fully deeded and paid off. Maint fees are around 600. I really would like to get rid of this at any cost. I paid $15,500 in 1999.
Other one is 1Bd/1Ba Penthouse unit at The Jockey Club in vegas. It has the perfect view of Bellagio%26#39;s watershow and Eiffel Tower. It%26#39;s also a perfect location. the maint fees are $385. I would only sell this if the price is right.
I%26#39;ll check bidshares.com. In the meantime, if you can help me out. i%26#39;d be greatly appreciate it. thx
I bought a timeshare on e-bay and it was a very smooth transaction. I as the buyer paid the closing costs but you have to specify this in the ad. Good Luck!
forsalenyc, I really can';t comment on your Vegas timeshare, as I don';t follow that market. But as far as you other, here goes. I think you should go on Ebay and Bidshares and get a feel for the market for your particular location. In looking at the resort that you own, it is not a real big seller. I think you would be lucky to get a 100 bucks for it. In Florida the only properties that really are sought after are the Marriots, Hiltons, Sheraton, Embassy, Fairfield, and Orange Lake, and even these still only bring a fraction of what was paid to the Developer. In short, and I am very sorry to have to tell you this, you are never going to recoup your investment. I hope this helps, and if you have any other specific questions, please feel free to ask.
bssd....thx for your honest comment. I totally agree w/ you about my timeshare. That%26#39;s why I said i%26#39;d get rid of it at ';any cost';. would it be a bad idea to let it go into foreclosing? would it affect my credit? thx
forsalenyc, I can';t say for sure, but I would think any sort of forclosure would hurt your credit rating. There is another way to get rid of timeshares, and that is to donate them for charity. Not sure of how much tax benefit, etc.... goes with this but it may be worthwhile taking a look at. Just go to Google, and type in, donate timeshares to charity. This will bring up a number of sites you can look at. I do see a number these listed on Ebay. Hope maybe this will give you another option before the forclosure route, although I would throw it on bidshares.com and see if you get any bites. Hope I helped you some.
You can count on a foreclosure hurting your credit rating! It%26#39;s an unpaid debt. The best way is to get the carrier of the note to agree to letting you make reduced or interest only payments until it sells. Also, it is less likely that the maintenance fees would affect your credit rating so if you are truly getting desperate you might stop paying those. I know nothing about time share selling or buying so I can%26#39;t advise you there but do all you can to make arrangements with the company carrying the note and document all the efforts you made to avoid a foreclosure. Such stuff can stay on your credit rating for years so be very careful.
Just re-read and realized you do own the time share outright and it%26#39;s the maintenance fees that are a problem as I read what you wrote. You are thinking of letting the ';association'; foreclose for maintenance fees? I would try paying partial fees until you can sell or give away the place. Can you rent your week? Any foreclosure will hurt your credit but I would guess paying partial fees will forestall the event until you can make up your mind about how to dispose of the place.
I would certainly consider trying www.redweek.com for selling or renting your timeshare. Go to the site and read all of the free information before subscribing - it can%26#39;t hurt. We have a friend who sold their timeshare this way but I have no idea what kind of price they got. You should at least be able to see what prices they are being listed for.
The guy who started redweek.com is also the head of classmates.com. He was recently asked to speak at Oregon State University (he is an alum) - I%26#39;m not sure they would%26#39;ve asked a scam artist.
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