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Good Question!
In fact, a class action lawsuit has been filed in Florida for that very reason. Eight Bluegreen timeshare owners are suing Bluegreen for a variety of credit and account issues. The timeshare owners became delinquent on their maintenance fees and Bluegreen reported those delinquencies as foreclosures to Experian and Equifax.
The agreement or understanding the timeshare owners had was that the accounts were simply deleted. However it showed up as a foreclosure on their credit report. So which was it? A cancellation or a foreclosure?
Rule #1 – Ask an attorney.
I am not an attorney and I am not giving legal advice. If you’d like, read the whole article here.
Before getting your credit score damaged or losing your timeshare for foreclosure consider selling your timeshare.
Selling your timeshare is a way to recoup some of your money and keep your credit (and sanity) intact.
Plus you no longer have the maintenance fees to worry about. That is a big relief to a lot of timeshare owners.
To be sure, many timeshare owners complain about the maintenance fees – especially when they cannot use their timeshare. Paying a fee for something you don’t use is worse than frustrating. It can drive you crazy.
Thank goodness there are reputable timeshare resale brokers who you can trust to sell your timeshare and get the job done right.
timesharelink.com
Technorati Tags: cancel, credit, dump, fee, foreclosure, owner, rescind, sales, score, sell, selling, timeshare
Of course I focus on timeshare and the resales industry. So what connection do I see between the 10% increase in second home sales in 2012 and timeshare sales/resales?
Quite a few. Sales of second homes have always been a sign of consumer confidence. Confidence that we have either reached the bottom or are bouncing back is expressed in higher sales of second homes. A second home is not a necessity. Instead it is a luxury. Think yacht, new golf clubs, ATV or other expensive “toys”.
Timeshare sales have seen a similar boost in volume. In fact, the rise in timeshare sales came before the increase in second home sales. By about two years!
Timeshare owners this is your cue to sell your timeshare now. It is much easier to sell your timeshare when the tide is rising than when things look gloomy in the economy. Is the economy totally recovered? No. But thanks to the mountains of cash baby boomers and others have been holding out of the market there are large numbers of buyers for luxury vacation properties – TIMESHARES!
Now is the time to sell your timeshare. No one wants to keep paying a maintenance fee forever. If you don’t sell your timeshare you will pay the maintenance fee forever!
You need to do it now!
Technorati Tags: for sale, home, owner, sales, second, sell, selling, share, time, timeshare, vacation
The answer to that question depends on what you paid for your timeshare in the first place. If you bought your timeshare on the timeshare resale market and paid at least 50% off the developer’s price then – Yes. It is possible.
Also, in isolated cases, if you bought your timeshare at a pre-construction rate you may be able to squeeze out a few dollars at closing if you get the right buyer.
Unfortunately, these cases are not the norm. In most situations people buy their timeshares from the developer at higher prices and sell them for much less. That’s the nature of the timeshare resale market. But, there is a market for timeshares on the resale market.
At timesharelink.com we have sold over $100 million in timeshares and continue to sell an average of $1 million a month. There are buyers and sellers ready to make deals. It is almost always a win-win situation. The seller is finally able to unload a timeshare they no longer want or need and the timeshare buyer gets a great resort at a reduced rate.
Technorati Tags: equity, howto, profit, resale, sell, selling, Selling Timeshare, timeshare, Timeshare Broker, Timeshare Equity, Timeshare Resales, Timeshare Value, value
Just about everyone is predicting a good travel season this summer. SmartMoney.com gave a list of their top seven best destinations for finding discount travel lodging. The downside of their list is that they don’t include timeshare rentals which, on average, go for even less than hotels at their destinations. Plus, with a timeshare you get your own kitchen, laundry, all the amenities, and planned activities for the whole family.
Their list included destinations like Las Vegas, Orlando, Colorado, Hawaii, and the Gulf Coast. As always, the downside of Hawaii is paying the airfare to get there. Yet there are many great deals to be found in Hawaii.
While Las Vegas may be one of the hottest places on earth, they have more air conditioned space there than the entire volume of some countries. Summer timeshare deals there are abundant and Las Vegas timeshares always go over the top with luxury amenities and activities.
Las Vegas timeshare resorts:
HGVClub at Flamingo Las Vegas
HGV at Las Vegas Hilton
Polo Towers
The Jockey Club
Summer Bay at Las Vegas Desert Club
Marriott’s Grand Chateau
HGVClub on Las Vegas Strip
Wyndham Grand Desert
Tahiti Village
Consolidated Club de Soleil
Colorado is a summer favorite of mine. The mild climate makes summers there an outdoors paradise. Rafting on white waters, fishing, hiking, cycling, camping, or just taking in the sights from over a mile high make for a great time.
Colorado timeshare resorts:
Grand Timber Lodge
The Christie Lodge-Phase 1
Wyndham Pagosa
Falcon Point
Eagle Point
Marriott’s Mountain Valley Lodge
Gold Point Condominiums
Streamside at Vail Evergreen
Streamside at Vail-Birch
Sheraton’s Mountain Vista
Orlando tends to be a little overcrowded for my liking. Too much Mickey Mouse (sorry kids). I will still go there soon, most likely.
Orlando timeshare resorts:
Sheraton’s Vistana Orlando
Orange Lake Country Club Holiday Inn Club Vacations
HGVClub at Sea World Orlando
Marriott’s Cypress Harbour
Marriott’s Grande Vista Resort
Westgate Vacation Villas
Sheraton’s Vistana Villages
Wyndham Cypress Palm
Vacation Villas @Fantasy World
Cypress Pointe Resort
The Gulf Coast is also a bargain hunters dream vacation spot. Places like South Padre Island, and the entire Florida Gulf Coast is packed with great deals for the perfect summer vacation. In addition to the beach, consider all the water sports, fishing, slow pace, and so on. You can’t go wrong with a summer vacation on any of Florida’s Gulf Coast Beaches.
Technorati Tags: blog, condo, deal, discount, rent, rental, share, summer, time, timeshare, vacation
The Alex Hotel on East 45th street has been purchased by Wyndham. Wyndham Vacation Ownership (timeshares) intends to convert the 203 rooms and facility to timeshare.
For many years the only Manhattan timeshare was the Manhattan Club. Over the last few years Hilton and Hyatt have converted properties to timeshare use in Manhattan. Now with Wyndham joining the timeshare action in NYC Wyndham and timeshare owners will have more choices to stay in New York City.
The astronomical cost of hotels has caused the timeshare concept in New York to thrive. Even with costly maintenance fees, a one week stay in a Manhattan timeshare is far less than a hotel. Plus you get more square feet per dollar and more amenities.
Wyndham Vacation Ownership boasts more than 500,000 members! They also have over 160 timeshare resorts in their portfolio, 13,700 employees, and over 20,000 timeshare units.
If you have considered selling your Wyndham timeshare, the addition of this Manhattan timeshare project will attract more buyers! Any time you add a high profile and valuable timeshare property to your family of resorts (Wyndham, Marriott, Hilton, etc) you add value to what you own. You may not necessarily get more money for it but it may make it easier to sell your timeshare. Go here for advice on how to sell your timeshare.
Check out these Wyndham timeshares for sale. Follow these links to see Manhattan timeshares for sale: The Hilton Club, St. Regis Residence Club New York, The Manhattan Club, West 57th St by Hilton Club.
Technorati Tags: buy, buying, manhattan, new york, nyc, sell, selling, share, time, time-share, timeshare, wyndham
Last night I received a robo call to my cell phone. I listened to the pitch: Participate in our political opinion survey and receive a three day vacation to a wonderful resort!
Does that sound familiar? The three day timeshare vacation where you are subjected to hours of timeshare sales talk that makes it sound like you are a fool if you don’t buy?
Timeshare sales pitches have invaded our cell phones. They could be getting your number from Facebook or other social media sites where your friends have access to your phone number. The problem is that there are so many thousands of fake and bot created pages that you may have “friended” one of them and not know it. Thus the robo call invite to buy a timeshare.
Why must buying a timeshare be thrust on us this way? Timeshare sales are way up from last year and I cannot imagine actually taking the bait on this timeshare scam bait and switch ploy. Apparently many do take the bait.
When you are ready to buy a timeshare, buy on the resale market. That way you can make your timeshare buying decision based on logic and reason, rather than pressure from anyone. Timeshare resales brokers specialize in this kind of transaction and can handle the whole thing for you. Take the time to investigate just what www.timesharelink.com can do. They have a deep network of professional sales people who are licensed Realtors, and associations with myriads of title companies, international escrow specialists, attorneys, and closers who can complete a timeshare sale no matter what you are selling or where you live. All from home.
That’s the way to do it.
Technorati Tags: blog, buy, call, cell, free, phone, scam, scams, share, telemarket, time, timeshare, tour
“I own a timeshare – how will I know it is a good time to sell it?”
Often a timeshare owner will get to the point where they decide it would be better to sell their timeshare than to keep paying their maintenance fees. Financial reasons are the reason most people give when explaining why they want to sell their timeshare. Circumstances in life may change such that it is no longer an affordable option.
Sometimes a change in family status may cause a timeshare owner to decide to sell. Divorce, death, or children “leaving the nest” could all be reasons why someone may decide to sell.
Owners may also become frustrated with their attempts to trade or exchange their timeshare through RCI or Interval International. The exchange process may not be living up to how they perceived it should work for them. As a result, out of frustration, an owner will decide to sell their timeshare since they cannot get an exchange that they desire.
There are situations where special assessments or increasing maintenance fees may persuade a timeshare owner to sell their timeshare. Timeshare owners do not often anticipate that their annual dues (maintenance fees and taxes) will increase. But often they will.
(More on the maintenance fee dilemma from timesharelink.com below)
Ultimately, when a timeshare is not being used, it is time to sell it.
About Timeshare Maintenance fees:
When you begin to think about selling your timeshare, there are many things in which you should consider before making a decision. Sometimes you may find that you are in a position in which it is no longer feasible to continue owning your timeshare due to the maintenance costs that must be paid each year. Another common trend in timeshare resales is the desire to seek a less expensive vacation destination. It is not rare to find timeshare owners who do not utilize their timeshares but continue to keep their maintenance fees paid. Sometimes financial reasons prevent owners from taking a vacation and being able to use their timeshare property and they have to deal with finding someone to rent their week so that some of the value can be recovered.
Another factor you may consider when you want to sell timeshares is whether you want to pay your maintenance fees the year of the sale. Some owners allow proceeds from the sale at closing to cover the maintenance fees when their property is put on the market to sell. It may be more appealing to pay the maintenance fees at the sale closing. Depending on the resort, a property may foreclose due to unpaid maintenance fees, and the amount of arrears unpaid varies as well from one resort to the next. It is not uncommon for some owners to find that they are hard pressed to sell their timeshares with arrears before a foreclosure occurs. A property can be sold when fees arrear, however, all delinquent fees must be brought current before the property can be transferred. Any outstanding balances must be paid from the proceeds of the sale by the closing company.
Technorati Tags: how, sale, sales, sell, selling, share, time, timeshare, timesharelink, to, value, worth
Okay. You’re ready to sell your timeshare. Typically, your first and natural inclination is to say, “Call the resort and see if they have a timeshare resale program to help us.” If they do have a resale program and are no longer selling retail, fine. Generally, you can expect to pay around 25% to 40% sales commission. (Unfortunately, a good percentage of timeshare resorts do not offer a resale program for the benefit of their individual owners who want or need to sell.) If your home resort has a resale program but is still selling retail to the public, think about this: When a buyer walks into the resort, which unit do you think the Resort Sales Rep will promote first — an original unit at the higher retail price (where the resort has up to 50% of the retail price in marketing costs), or a unit that an owner has listed for resale, generally at a lesser resale price. Consider the following:
- Common sense dictates that resorts do not sell their timeshares to buy them back later. However, some timeshare resorts will consider buy backs baed on a Right of First Refusal if the selling owner has contracted with a buyer and received earnest money.
- If your resort has no resale program, ask them if they have plans to make this service available.
- If your resort does have a resale program, ask if it is a reload program consisting of POA/HOA inventory to be resold to existing owners (typically priced low.)
There are some timeshare resorts that will not transfer special programs from the selling owner to the new purchaser when the timeshare transaction was initiated by a third party. This practice is to deter owners from going to third party resellers and to encourage them to sell through the home resort. This can present problems for the selling owner because one of the reasons the new purchaser elected to buy the timeshare in the first place was to take advantage of the special programs offered by the resort. However, many of today’s timeshare buyers have become more sophisticated and knowledgeable about their timeshare purchase and are savvy enough to compare the savings realized by the resort’s special programs versus the savings achieved by purchasing in the timeshare resale marketplace.
Obviously, this is only a snapshot of selling your timeshare through your Home Resort and isn’t all-inclusive by any means; however, it may contain a few items that perhaps you had not considered if you are planning to sell your timeshare through your Home Resort.
TimeshareResaleBlogs.com
Technorati Tags: developer, for, home, owner, resales, resort, sale, sales, sell, Sell Timeshare Resales, selling, share, time, timeshare, Timeshare Resales, Timeshare Resales Brokers
Recently ABC in Phoenix ran this advice column about timeshare buyers having second thoughts. As the story goes, a married couple traveled to Cancun Mexico where they attended a timeshare information meeting presented by Grupo Mayan. Now you must know that the Mayan group of resorts consist of six absolutely magnificent timeshare resorts in Riviera Maya, Los Cabos, Nuevo Vallarta, Puerto Vallarta, Acapulco, Mazatlan, and Puerto Penasco.
The problem arose when as the article said, “It’s why Marjorie and husband Joseph invested in one months ago.”
What made this couple or the writer think buying a timeshare is an investment? Investments are usually purchased with the intention of it growing in value. A timeshare, especially a limited lease common in Mexico, decreases in value. That is not an investment. The only investment quality about a timeshare is the accumulated discounts over the years of consistent annual usage. Who does that? Just about nobody. The resorts count on it. In fact, they bank on it.
When this couple in the story used an exchange to go to Maui they got a bonus with their accommodations: bugs in the bed! When they attempted to get a refund they failed. There was no mention of the Maui resort attempting to provide alternate rooms. Maybe they did. No way to know for sure.
Exchanges are in fact a third party deal and the original resort has no control over what either RCI or II does.
The lessons to learn here are many. First, never consider buying a timeshare as an investment. That never happens. Period. Second, if you end up with less than desirable accommodations at any resort work with that resort so you end up having a good experience. It is always in the timeshare resorts’ best interest to give you a good experience as long as it is within reason. Third, IF you decide to buy a timeshare, buy it at half price through a timeshare resale broker, or timeshare resales firm. Terrific deals can be found this way and closed through title companies with experience in these kind of closings.
Technorati Tags: bad, bought, buy, Exchange, experience, invest, investment, share, time, timeshare
Have you ever said “I wish they had a guide for (insert most difficult subject here)?”
I know I wish there were a guide to raising teenagers, assembling a swing-set (in English), and various annoying subjects. But what about selling your timeshare? It seems like the only public advice you get is either “Don’t buy one in the first place” which does not address the problem or “Whatever you do don’t pay a fee upfront” while offering no other alternatives. Too bad the media and press offering such sage wisdom have no solutions on how to actually get a timeshare sold.
So, here is the ultimate guide to everything you ever wanted to know about selling your timeshare. Subjects like “Setting the Sales Price“, “Advertising Companies“, “Timeshare Escrow“, “Using a Realtor in Timeshare Resales” are covered. There are loads of tips and advice on using local real estate offices, net listing companies, commission fees, and understanding the sales process for timeshare.
When you get ready to sell your timeshare, do your homework first. This timeshare seller’s guide is the best place to start. Information is power.
The company preparing this guide has been in business since 1979 and has closed over $100 million in timeshares sold. That’s closed deals!
Technorati Tags: advice, blog, guide, help, how to, owner, sales, sell, selling, share, sold, time, timeshare, tips
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