OT: Question on selling non DVC timeshare

[robsmom]

I know there are some serious experts here. I am looking for some guidance on selling a non DVC time share in Orlando. I emailed The timeshare store last weekend but they did not reply so i guess they don't deal in non-DVC? Can anyone help me with some suggestions. Also, I can see listings on line that range widely. Sheraton has their own re-sale site, but I don't want to use it (I would like a realtor as there are way to many on the website). The prices swing from 1500 to 10,000. I know there are different areas of the resort but even within the area I am selling the prices are this wide. I am wondering how i can tell what some actual sale prices are - does FL have public info on this?

Thanks for any help or suggestions.

 

[DisDaydreamer]

I don't think you are going to get much if any reply on this matter. Not sure your thread will even stay here. Otherwise, I would recommend a PM to the DIS member DEAN. He is our expert in these matters.

 

[CarolMN]

Try www.tug2.net

 

[Dean]

I know there are some serious experts here. I am looking for some guidance on selling a non DVC time share in Orlando. I emailed The timeshare store last weekend but they did not reply so i guess they don't deal in non-DVC? Can anyone help me with some suggestions. Also, I can see listings on line that range widely. Sheraton has their own re-sale site, but I don't want to use it (I would like a realtor as there are way to many on the website). The prices swing from 1500 to 10,000. I know there are different areas of the resort but even within the area I am selling the prices are this wide. I am wondering how i can tell what some actual sale prices are - does FL have public info on this?

Thanks for any help or suggestions.

First, while I know a lot about many timeshares, I don't feel I know enough to give you the answers. I will raise a few questions and give you an educated guess. I assume this is the Vistana resort. The value will vary with the week if its fixed or the season if floating and the view. For many weeks even the $1500 is likely optimistic. I assume you don't have the starwood options (points) to use at other Westin Timeshares. I'd go to redweeks.com and TUG (Timeshare Users Group) and look at the classifieds as well as the BBS on TUG to find those better versed in Vistana resale prices/options. I think you'll find you're better of keeping it and trying to trade in II taking advantage of the starwood internal trading preference. If you want to sell it, you can, you just have to price it low enough and likely a LOT lower than you thought going in. You do not want to use a broker because anything you get will be eaten by the commission. Do realize that listing price is not selling price, those listed for much higher amounts are not selling. Xmas, President's week, Easter and 4th of July should be the best. Jan, May, Sept, early Dec are likely the lowest demand and price.

 

[robsmom]

First, while I know a lot about many timeshares, I don't feel I know enough to give you the answers. I will raise a few questions and give you an educated guess. I assume this is the Vistana resort. The value will vary with the week if its fixed or the season if floating and the view. For many weeks even the $1500 is likely optimistic. I assume you don't have the starwood options (points) to use at other Westin Timeshares. I'd go to redweeks.com and TUG (Timeshare Users Group) and look at the classifieds as well as the BBS on TUG to find those better versed in Vistana resale prices/options. I think you'll find you're better of keeping it and trying to trade in II taking advantage of the starwood internal trading preference. If you want to sell it, you can, you just have to price it low enough and likely a LOT lower than you thought going in. You do not want to use a broker because anything you get will be eaten by the commission. Do realize that listing price is not selling price, those listed for much higher amounts are not selling. Xmas, President's week, Easter and 4th of July should be the best. Jan, May, Sept, early Dec are likely the lowest demand and price.

Thank you for your advice! I will check those sites. To be honest the values can not be lower than i thought going it because I personally think it is totally worthless! It is Vistana. Some con-artist told my in-laws a few years back that it was worth $20,000. I was very nice and did not laugh at them but was able to use some listings to convince them not to pay him $1500 on their credit card up front to sell it!! I just want to get them out of it and they can not realy afford the $2000 assessment just announced. Thinking about impact to their credit rating at this point if they just stop paying the fees and walk away?

 

[Dean]

Thank you for your advice! I will check those sites. To be honest the values can not be lower than i thought going it because I personally think it is totally worthless! It is Vistana. Some con-artist told my in-laws a few years back that it was worth $20,000. I was very nice and did not laugh at them but was able to use some listings to convince them not to pay him $1500 on their credit card up front to sell it!! I just want to get them out of it and they can not realy afford the $2000 assessment just announced. Thinking about impact to their credit rating at this point if they just stop paying the fees and walk away?

Yes the old pay me $XXX and I'll sell or rent it for a LOT of $$$ for you trick. I wasn't aware of a SA that had been announced there, depending on the week and location, it's likely not worth that and you can't just sell it without telling the other person. If they truly can't afford it, then I'd contact starwood and ask about a deedback in lieu of foreclosure. If they say yes, get it all in writing then get it done. I still think I'd consider keeping it and trying to trade it if it's a good week and unit. I don't see any way for them to sell without having to pay the $2000 SA plus yearly fees and I find it difficult to believe they'd be able to sell it for anything more than the SA and maint fee costs. If they walk away they could be sued for the costs anyway though many companies will just foreclose it. Still, if they truly can't afford it, I'd suggest they not pay any more money into it regardless of the outcome or consequences. It won't hurt their credit that much even if they turn it in to the credit reporting companies and there's a good chance they won't. I'd definitely post this question on the Buy/Sell board on TUG and see what others think, some will know a lot more specifics for this situation than would I.

 

[Brian Noble]

A realtor is likely going to be overkill for this week---especially if it is not a prime week/float. It's not worth a realtor's time if the week isn't worth enough to generate a real commission.

However, people sell timeshares without such services all the time. You'll need a competent closing agency licensed in Florida. I've used Timeshare Transfer to buy in Florida, and they are very good.

TUG, the Timeshare User's Group, has some good advice that will get you started: http://www.tug2.net/advice/howtosellyourtimeshare.htm