It looks Like I Have To Sell 1 Contract

[antree]

So I am coming to terms with it, I will have to sell a contract. I have 2 contracts with loans still on them from SSR, I have 1 contract paid for at HH.

So do I sell the 130 at SSR and pay off the loan or the 100 at HH. and hope to get enough to pay the loan at SSR.

I say sell HH I haven't brought that idea up to DH yet. I think that is the reasonable thing to do as far as home resorts go.
I owe about $6000.00 on SSR can I get that for HH? If not I can't sell it.

Now about the TimeShare Store. They say this in their ad.
"You will receive the sale proceeds less a $20 Right of First Refusal Fee and a commission. Any outstanding liens, mortgages, maintenance fees or late fees that may have been assessed to your property will also be deducted."

So I pay $20.00, and the loan gets paid off and they get a commission, right? Is that it? Does anyone know how much the commission is?

I hate selling it but if you seen my last post about that contract you know why.

Does anyone have any info to help me?

Thanks so much

 

[cruisinalong]

I would call the Timeshare Store and ask them. There are possibly other issues like MF, borrowed points, used points and loan prepayment penalty.

Hope everything works out for you.

 

[Deb & Bill]

Commission is 10-12%.

 

[vascubaguy]

You'll definitely want to talk to TSS, but I think it will be cutting it close to get $6,000 to cover the other loan. Assuming a 10% commission, you'd have to get at least $66.50 to cover commission and the ROFR fee. Of course, as others mentioned, MF's and other expenses can come into play. If you pay MF's all up front (or monthly) that has to be considered (you might have to pay the whole year and negotiate with the buyer about being reimbursed some of the MFs) etc.

I think HH listings are currently at 65-69 per point, so maybe having a smaller contract will help a little. If it is loaded that would help make it more appealing amidst the flood of listings out there right now.

Best wishes!

 

[Dean]

You will get more per point for SSR but that's because HH is worth less. Decide what contract serves your needs better. Given you've already got another SSR contract and assuming all are the same UY under the same Master, I'd personally sell the SSR because of a mildly higher per point return and a larger contract will bring in more dollars. Or you could just rent out some of your points for a while if you wanted and felt like in the end you'd want the extra points and would be financially OK long term.

 

[antree]

Thanks everyone for all the replies we are taking in what everyone suggested. We will be contacting the right people and we are going over the contracts.
I did rent out all the points and then some to help pay for it. It gave me 6 months of payments. So this month was our first payment that we had to make out of pocket. I would love to keep the extra points. But with settlement on the new house in 2 months and our Vacation in 3 mos. then Christmas, it is not going to work out. I hate this.
at this point if I want to keep going to Disney I have to get rid of one loans.

 

[calypso*a*go-go]

Good luck antree!

 

[50 years Too!]

You will get more per point for SSR but that's because HH is worth less. Decide what contract serves your needs better. Given you've already got another SSR contract and assuming all are the same UY under the same Master, I'd personally sell the SSR because of a mildly higher per point return and a larger contract will bring in more dollars. Or you could just rent out some of your points for a while if you wanted and felt like in the end you'd want the extra points and would be financially OK long term.

But I think it will be faster to sell the smaller HH contract because there a so many SSR contracts out there.

 

[Dean]

But I think it will be faster to sell the smaller HH contract because there a so many SSR contracts out there.

Unlikely, HH goes for less for a reason. But what could be done is to offer both with the idea of selling only one. Then take the first offer that fits the bill and pull the other back.

 

[chris1gill]

Unlikely, HH goes for less for a reason. But what could be done is to offer both with the idea of selling only one. Then take the first offer that fits the bill and pull the other back.

This is exactly what we did with two of our add on's, we listed them both, and the one that got the first offer was the one we sold.... our vacation habits have changed, so we just had too many points overall....