If I wanted to sell my timeshares what would I need to do?

ingeborgdot · #1 (**permalink**) 06-11-2009, 12:41 PM

I have two timeshares with Wyndham. One is at Pagosa and the other is at Royal Vista in Florida. I would really like to get them sold and have been very stupid in the past. I tried one company but they have not been able to sell it in the ten years I have had them. I paid for this by the way. I then tried another company (again I paid) (you see how stupid I am) but they left the US and went to the Bahamas. I then thought when contacted by a Century 21 company that my problems were over. I did not have to pay for their services but paid for an appraisal. My stupidity showed after this. They no longer return my calls and won't do anything about it. Why would I never learn. I keep in contact with the first company that I dealt with but it never sells. Timeshares are good for some people but I don't think they are right for me. I am stuck with two that I would really like to sell. I have 105,000 with Pagosa and 140,000 with Royal Vista so I really have 245,000 points with Wyndham. I will never pay an upfront fee again. Can someone give me some guidance? Thanks.

rikkis_playpen · #2 (**permalink**) 06-11-2009, 01:46 PM

Wyndham is an incredibly tough sale in the current market. If you are able to basically give the property away, simply look for low cost advertising and price at $99. This site has a classifieds section, and there are other timeshare classifieds that offer free ad space to timeshare owners such as TUG, Simplytimeshare.com, and Bidshares. You might also want to try eBay.

Be aware that there will be closing costs, and both a transfer fee and estoppels fee required to transfer the ownership. Ensure you include in your advertisement who will be responsible for these costs (normally the buyer pays).

If you have a mortgage, or are simply unwilling to sell them for next to nothing- spend time in the Wyndham and points forums and simply try to learn as much as possible to try and squeeze as much usage from them as you can. Using a timeshare is the ONLY way an owner gets any value from the purchase.

Good luck..

ingeborgdot · #3 (**permalink**) 06-11-2009, 02:17 PM

Is Wyndham the only tough sell? If so why Wyndham?

rikkis_playpen · #4 (**permalink**) 06-11-2009, 02:26 PM

Not the only- but one of the toughest!

The things that make a Wyndham points system so great to use (the flexibility of the points system and access to all affiliated resorts) are the same things that make it really hard to sell. You are not only competing with sellers at your home resort- you are realistically competing for buyers with EVERY Wyndham seller!

Wyndham is the largest timeshare system in the world, which in turn means they naturally have the most sellers of any timeshare developer. When you have thousands and thousands of sellers all selling basically the same product to a limited number of buyers (and no price controls in their system such as developer buybacks or a right of first refusal process)- you will find prices fall to ridiculous levels.

Wyndham's problems have also been compounded by the "Pay us to take your timeshare" seminars- which have further flooded eBay with points priced at $1.

Wish I had better news, but the resale market is going to be a really tough spot for you!

ingeborgdot · #5 (**permalink**) 06-11-2009, 02:28 PM

Off topic but where do you own?

rikkis_playpen · #6 (**permalink**) 06-11-2009, 02:32 PM

I just read over the last post and don't want to create a bad impression of the program. I'm actually a Wyndham fan, and often stay at their resorts! It's a fantastic time to be a buyer, but really difficult to be a seller. I actually just declined a Bonnet Creek listing yesterday, as the seller still owed about 25% of his original mortgage and I didn't feel the market would allow him to sell without coming to closing with cash.

We spent a few minutes on the phone, and I actually recommended a few of their resorts that he hadn't been to yet. Funny- I find that I spend time now reselling owners on their own property with this program- and simply encouraging them to use it! Now- if I could only figure out a way to make a commission from that!

ingeborgdot · #7 (**permalink**) 06-11-2009, 02:34 PM

Mine have been paid for for many years. I have no debt to my name other than the maintenance fees needing to be paid.

ingeborgdot · #8 (**permalink**) 06-29-2009, 09:13 AM

So, do you think it would sell for a decent price?

rikkis_playpen · #9 (**permalink**) 06-29-2009, 09:23 AM

I can't think of anything else to add to this.. Good luck.

Quote:

Originally Posted by rikkis_playpen

Wyndham is an incredibly tough sale in the current market. If you are able to basically give the property away, simply look for low cost advertising and price at $99. This site has a classifieds section, and there are other timeshare classifieds that offer free ad space to timeshare owners such as TUG, Simplytimeshare.com, and Bidshares. You might also want to try eBay.

Be aware that there will be closing costs, and both a transfer fee and estoppels fee required to transfer the ownership. Ensure you include in your advertisement who will be responsible for these costs (normally the buyer pays).

If you have a mortgage, or are simply unwilling to sell them for next to nothing- spend time in the Wyndham and points forums and simply try to learn as much as possible to try and squeeze as much usage from them as you can. Using a timeshare is the ONLY way an owner gets any value from the purchase.

Good luck..

ingeborgdot · #10 (**permalink**) 06-29-2009, 09:54 PM

Can I just give it back to Wyndham? I may just stop paying the maintenance fees. Will they take it back then>?