Buying Timeshare?

sheryll55 wrote:

I thought the brokers were all scams? We have tried to sell our multiple different ways and have never had any luck. We don't trust all the companies that call us all the time to buy them. We have just read so much on scams and how these companies say they will buy your property, but you have to put money down and then you never hear from them again.

Not all brokers are scams. If you go to ltrba.com, there will be a list of legitimate resale brokers. They only take their commission out of the proceeds of the sale, no upfront fees. Just remember that they charge a minimum $1000 commission.

What different ways have you tried to sell them?

And by the way, you are very smart to be wary of these upfront fee scams that promise to sell or rent your unit(s) but do nothing but take your money.

Is anyone familiar with "Licensed Timeshare Resale Brokers Association" . Info says that members do not charge any up front fees and all are knowledgeable and reputable. Is it better to go this way rather than trying to sell through Marriott's own resale site?

camilleb29 wrote:

Is anyone familiar with "Licensed Timeshare Resale Brokers Association" . Info says that members do not charge any up front fees and all are knowledgeable and reputable. Is it better to go this way rather than trying to sell through Marriott's own resale site?

Somewhere along the way they will ask for an upfront fee .... depending on what/where you own a Marriott brand probably still has value and you could sell it yourself, however if you bought from Marriott directly you will not get back anywhere near what you paid initially.

I have no idea what Marriott's policy is on reselling timeshares by Marriott owners but it wouldn't hurt to ask them.

In researching the prices for Marriott Maui Lahaina Tower or Sequel, I would receive approximately the same amount of money from a Redweek sale as from the 60% of the sale price Marriott would offer me. I have not researched fees, which may make a difference. Obviously, the Marriott price is a lot higher for the buyer, but how many people also want the ability to trade for Reward or Vacation Club points and other condos through Interval International and, therefore, would chose the direct sale ? Does anyone know if the timeshares sell more quickly through one sight or the other? Does Marriott push the resales as much as they do "new" sales at the same resort??

camilleb29 wrote:

Does anyone know if the timeshares sell more quickly through one sight or the other? Does Marriott push the resales as much as they do "new" sales at the same resort??

Marriott will push their developer timeshares ..... yours may be put on a list of resales ..... if your Marriott has any value then you've come to the right place to list it (Redweek).

Via researching your Hawaiian Marriott resort on Redweek prices are listed between 18K and 92K however NONE have sold. What someone is asking and what a willing buyer will pay are two different games ..... listing prices mean nothing in the world of timeshare resales. Many people mistakenly think they can get via a resale what they paid a developer ..... it's not going to happen.

HI there, We have tried to sell our timeshare on Craigslist, our neighborhood website, posted it on Facebook,we have talked to alot of friends, family. I have called Wyndam about options. We have talked to several of the companies that have called us about selling them (the scam companies). We have asked other people who them how to get rid of them and no one has any suggestions, b/c they can't get rid of their's either. They just pay the dues and never use them. I will say we do use ours (we have 2 in Myrtle Beach SC) we scuba dive, so we transfer throug RCI and have been to alot of nice places, but there are alot of places we would like to go, but those places aren't ever available. I actually joined Redweek.com to try and rent them or sell them. Do you know if anyone has any luck selling them on Redweek and how much they charge? Is the broker you receommended who you sold yours too? Look forward to your response.

sheryll55 wrote:

HI there, We have tried to sell our timeshare on Craigslist, our neighborhood website, posted it on Facebook,we have talked to alot of friends, family. I have called Wyndam about options. We have talked to several of the companies that have called us about selling them (the scam companies). We have asked other people who them how to get rid of them and no one has any suggestions, b/c they can't get rid of their's either. They just pay the dues and never use them. I will say we do use ours (we have 2 in Myrtle Beach SC) we scuba dive, so we transfer throug RCI and have been to alot of nice places, but there are alot of places we would like to go, but those places aren't ever available. I actually joined Redweek.com to try and rent them or sell them. Do you know if anyone has any luck selling them on Redweek and how much they charge? Is the broker you receommended who you sold yours too? Look forward to your response.

You say you use your Wyndham timeshares but that you're having problems exchanging them for places you want ..... in order to get popular exchanges and areas that you want you must deposit very early and start an ongoing request .... many people deposit a year in advance to get what they want in an exchange.

As far as selling your Wyndham timeshares or points, in this economy many very nice timeshares at very nice resorts can't even be given away, so if you actually use or exchange yours then you're way ahead of the game .... just deposit early.

Actually we do deposit early and do searches. There are just certain places we always try to get and just can't get them. But you are right, we are ahead of the game b/c we do use them. We would just like more freedom without them. We travel other places too, so we always have to figure out how and when to use them before the points expire. Well thanks for the input. Have a good night

I would never consider buying a timeshare. We owned one and were lucky enough to sell it. It cost us a lot of money. We could have had many wonder vacations for what it cost us to own and sell. The maintance fees are going up, up. You can always rent. My son goes to Hawaii every year and rents a very nice place for what it cost us to own in the States. Think twice they are a money pit.

Hi Camille,

There is no upfront fees whatsoever from the LTRBA brokers. They deduct their fees from the seller proceeds at closing. I’m a member myself plus I’m on the Redweek Panel of Experts.

david_cortese wrote:

Hi Camille,

There is no upfront fees whatsoever from the LTRBA brokers. They deduct their fees from the seller proceeds at closing. I’m a member myself plus I’m on the Redweek Panel of Experts.

Your response to Camille is more than four and a half *YEARS* after her post of Jan., 2013.

That aside, in the interest of full disclosure, it should be mentioned that there is generally a minimum commission (even if not upfront). Let's be honest here --- SOME timeshares have no value whatsoever in the resale market and, in such instances, are not even worth the minimum broker commission amount. In such instances, a seller / owner could actually OWE money to a broker (even a LTRBA broker) just to complete the transfer. If I am somehow mistaken in this particular observation, please feel free to correct me.

What is the process to sell my timeshare back to Marriott? The timeshare is in the silver time slot in Breckenridge Colorado.

allenh127 wrote:

What is the process to sell my timeshare back to Marriott? The timeshare is in the silver time slot in Breckenridge Colorado.

Will Marriott actually buy it from you? Very few timeshare companies of developers buy back units from owners.