New to redweek and selling timeshare on here?

I just wanted to know how many people have had sold timeshares on redweek and how successful this site is? I have heard nothing but good things about this site and just wondering what is an average on how long it takes to actually sell a timeshare?

roseannb6 has inquired, quoted in pertinent part: >>]...just wondering what is an average on how long it takes to actually sell a timeshare?<< =====================================

It depends entirely upon the desirability of the particular week beng sold (its location, size, time of year, float vs. fixed) and whether or not the week is realistically priced in the first place in regard to current market pricing and conditions. Maintenance fees also fit into the equation, as do any other outstanding (unpaid) special assessments and/or other unpaid fees or debts from current and prior year(s).

In short, there is no "one size fits all" answer to your question. A desirable, realistically priced week with no undesirable "issues" will likely sell quickly. An overpriced week, and/or one burdened with associated unpaid fees, may never actually sell at all. Good luck.

roseannb6 wrote:

I just wanted to know how many people have had sold timeshares on redweek and how successful this site is? I have heard nothing but good things about this site and just wondering what is an average on how long it takes to actually sell a timeshare?

I sold all of our 9 timeshare weeks on Redweek and other internet classified ad sites, BUT I priced them reasonably because we bought them at a reasonable price (except for the developer bought one that we took a huge loss on).

The KEY is to price your timeshare where it will get market attention. If you bought from a developer you will lose bigtime when you sell on the resale market. You will recoup only about 1/3 + - of what you paid the developer .... that is IF anyone is interested in your timeshare at all (some timeshares can't even be given away as is evidenced on Ebay). The key is to keep dropping your price until you start getting emails.

Redweek has over 1 million members and is the NUMBER ONE site on the internet for selling timeshares, however you are actually the seller and it's up to you to price your timeshare that will get market attention in your ad.

I just posted our timeshare on here a week ago and I haven't had a single bite. We paid $12,000 for our timeshare and we're asking $7,000 so we may need to drop the price.

sarahc93 wrote:

I just posted our timeshare on here a week ago and I haven't had a single bite. We paid $12,000 for our timeshare and we're asking $7,000 so we may need to drop the price.

Exactly .... try dropping it to 1/3 of what you paid the developer and you MAY have to drop it even further if you get no interest depending on popularity, season and supply and demand of your timeshare. It's sad, but it's the nature of the beast in the resale market. We took a loss of 7K on our 10K developer bought timeshare which is typical on the resale market.

WoW! this is so scary, all I can say is I wish I wouldn't have gone to that presentation that unfortunate day. By reading everyone inputs I see the way I'm going is not a nice one. I paid for my time share about 23K from the developer, put 2K down and been paying for 2 years, HAVE NOT used not ONCE due to scheduling conflicts, and also lost some points once. The only thing I was looking forward was to selling and at least getting just what's owed on it with no gains and entirely loosing my down payment. But I guess it's still priced too high and will keep loosing on it. Not to even mention the scam I fell for before when desperately trying to sell an recup some money. My only one advise I have left is #1 never buy fromt the builder, #2 Don't pay upfront fees to have someone sell it. Are there any good advices for me?

joannac18 wrote:

My only one advise I have left is #1 never buy fromt the builder, #2 Don't pay upfront fees to have someone sell it. Are there any good advices for me?

Your advice above is very good. The first thing to do is NEVER go to a timeshare presentation in the first place. The salespeople are very good at what they do and they build an image of timeshare ownership as something out of a fairytale.

They never tell you about the neverending and rising yearly maintenance fees and possible special assessments. Some salespeople tell you that you can make big bucks renting your timeshare if you don't use it and that you can sell it and make a profit (all lies).

If anyone decides to buy a timeshare, buy from the resale market and never finance a timeshare. If you can't afford to pay cash for such a luxury item, then forget it and move on. Not only are you responsible for the loan payment each month for several years, you are also responsible for yearly maintenance fees.

It's almost impossible to sell a timeshare with a loan balance.

I am new to redweek. Have not seen current postings of people being successful selling on redweek. Am interested in hearing success stories, particularly if your timeshare is on Hilton Head Island or under Coral Resorts. Thanks.

brendar298 wrote:

I am new to redweek. Have not seen current postings of people being successful selling on redweek. Am interested in hearing success stories, particularly if your timeshare is on Hilton Head Island or under Coral Resorts. Thanks.

The geographic or location of the resort or "chain" with which it is affiliated and success with any particular advertising site utilized are completely unrelated to one another.

I have no personal affiliation with RedWeek, I am just another paying member and occasional participant in these discussion forums, but it is my opinion that RedWeek is the BEST timeshare site in existence on which to advertise and successfully resell a timeshare. I have successfully sold several timeshares in recent years while "downsizing" our "portfolio" by advertising on RedWeek and I am actually in the process of successfully selling another one right now. I have an interested buyer AND a "backup" buyer if the first one bails out before closing.

Yes, you must PAY to place a "for sale" ad on RedWeek, but it will run for a full year on the best resale timeshare advertising venue available (IMO). You can choose instead to just put an ad on Craigslist for free --- and then likely hear nothing but the sound of crickets (and / or bogus inquiries from would-be scammers) for the next year. Your choice.

One thing I like about RedWeek is that ONLY paid members can even respond to a listing. Anyone can BROWSE RedWeek ads for free, but must pay a membership fee in order to be able to RESPOND to any ads. Believe me when I tell you that this membership requirement goes a very long way toward repelling "tire kickers" and / or scammers. If someone won't invest $20 once a year to rent or buy a timeshare, then they are (IMO) very likely insincere in the first place and just "kicking the tires" (or they are scammers reluctant to identify themselves, which they would have to do in the process of paying for a membership).

Regardless of the advertising site utilized, your timeshare must be fairly and realistically priced --- and there must be SOME demand for it. No advertising site can magically "create" interest or demand for something of no interest or value to ANY buyer. Also, some timeshares (particularly in Mexico, but in some U.S. cases too) have obscene transfer fees that greatly diminish both value and buyer interest. Bear in mind too that no one on earth cares one bit what YOU paid previously. All that matters in the reality of the resale marketplace is the actual resale value to a willing new recipient TODAY. If you originally bought directly from a developer and paid their inflated prices, there is absolutely no doubt that you are going to "take a serious bath" in the resale market. In any event, good luck.

I agree with Ken especially the last paragraph. I have sold thru Red week, I had same offering on TUG to no response at all, as Ken stated anyone who wouldn't pay 20.00 to either rent or buy isn't worth the response. I have also rented my TS's here In going back to the previous, having to pay to contact an owner, to me shows a serious inquiry. As to length of time, that (as Ken stated) is totally dependent on what you are trying to sell. If your TS in the middle of no where and no one wants to go there you won't get any (if any) takers. We bought our first one at developer price, but it was where everyone wanted to go. It only took a couple of weeks to get a serious inquiry, we took a loss, but not a bad one. As owned it for almost 20 YRS. so we did alright. Best logic.......buy smart to a place you would back to YR. after YR. and you won't get bit bad, and buy resale.......

Thank you for your reply. It is appreciated.

I have a lot of research to do to find out how to use this website efficiently including how to post our two timeshares. Again, I am new to this website and had a heck of a time just finding where I posted this question in the first place!

ken1193 wrote:

brendar298 wrote:

I am new to redweek. Have not seen current postings of people being successful selling on redweek. Am interested in hearing success stories, particularly if your timeshare is on Hilton Head Island or under Coral Resorts. Thanks.

The geographic or location of the resort or "chain" with which it is affiliated and success with any particular advertising site utilized are completely unrelated to one another.

I have no personal affiliation with RedWeek, I am just another paying member and occasional participant in these discussion forums, but it is my opinion that RedWeek is the BEST timeshare site in existence on which to advertise and successfully resell a timeshare. I have successfully sold several timeshares in recent years while "downsizing" our "portfolio" by advertising on RedWeek and I am actually in the process of successfully selling another one right now. I have an interested buyer AND a "backup" buyer if the first one bails out before closing.

Yes, you'll must PAY to place a "for sale" ad on RedWeek, but it will run for a full year on the best resale timeshare advertising venue available (IMO). You can choose instead to just put an ad on Craigslist for free --- and then likely hear nothing but the sound of crickets (and / or bogus inquiries from would-be scammers) for the next year. Your choice.

One thing I like about RedWeek ads is that ONLY paid members can actually respond to a listing. Anyone can BROWSE RedWeek ads for free, but must pay a membership fee in order to be able to respond to any ads. Believe me when I tell you that this membership requirement goes a very long way toward repelling "tire kickers" and / or scammers. If someone won't invest $20 once a year to buy a timeshare, they are (IMO) very likely insincere in the first place and just "kicking the tires" (or are instead scammers reluctant to identify themselves, which they would have to do in paying for a membership).

Regardless of the advertising site utilized, your timeshare must be fairly and realistically priced --- and there must be SOME demand for it. No advertising site can "create" interest or demand for something of no interest or value to ANY buyer. Bear in mind too that no one on this earth cares one bit what YOU paid previously. All that matters in the reality of the resale marketplace is the actual resale value to a willing buyer TODAY. If you originally bought directly from a developer and paid their inflated prices, there is absolutely no doubt that you are going to "take a serious bath" in the resale market. In any event, good luck.

Thank you for your reply. As mentioned to Ken, I have a lot of work ahead of me to familiarize myself with this website.

You can put an alert on this forum, so when there is a new reply you are alerted, and you won't have to search for it. You've come to the right place to find the help. GOOD LUCK..........

Thank you.

I own with Coral now called Palmera. There really is no resale market for these since the developer instituted a $1500 transfer fee ($1000 goes toward prepaying future MF and $500 goes to the developer) maybe 5 years ago. The market is such that you would probably have to offer to pay that fee and closing costs in order to find a taker and that is if you have a platinum week. If you have gold, silver or bronze you will need to add additional incentives if you hope to find a taker.

To Tracy's comment of "transfer fee's" that pretty much par for the course, in that to sell our Hyatt TS recently we had to pay our MF's current and a 650.00 transfer fee. Which is negotiable with the buyer, along with closing cost. Our part was a shade under 2300, paying MF, and transfer cost and buyer paying all closing costs, deed, tax stamp, etc. Just remember everything is a bargaining chip, verses how bad you or they want it.

What amazes me is that if you attend a timeshare sales presentation they will still claim that it's a good investment . They will tell you that with a straight face . The industry has no conscience .

thank you. All good information. It was good to hear from a fellow timeshare owner with Palmera.

Would you know a ball park figure for closing costs, deed, tax stamp (as you mentioned)? I know you are correct in saying everything is a bargaining chip but I am curious if these costs would normally be considered payable by buyer.

I guess a different way of asking that question is, will Redweek through the Full-Service Timeshare Resale be able to provide the seller with all the costs associated with one's timeshare resale?