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evicpin
Joined: 28 Dec 2007
Posts: 70
Location: Midwesty
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 Posted: Wed Feb 27, 2008 8:43 pm Post subject: Buying on the resale market |
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We've often discussed selling on the resale market, and how fraught with scams it is, but never BUYING on the resale market.
I bought my first timeshare on resale, through a friend of a co-worker. Just got lucky in that respect, I suppose.
I've heard there are timeshares selling for a penny on CL or ebay, although I have yet to come across one THAT cheap. Has anyone bought a resale through an agent, or a listing service? I'm sure there's a process for avoiding scam there, too. |
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dial-a-shue
Joined: 04 Feb 2008
Posts: 36
Location: The Big Snapple
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| Posted: Thu Feb 28, 2008 8:36 pm Post subject: |
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Never through an agent. A listing service, perhaps, depending on what is meant by that.
I always found the idea of penny timeshares rather dubious. There's supply and demand, but then there's supply and scam. Will I want something that someone else is selling for a penny?
Realistically, there are good deals to be had on those sites, but they're still timeshares, and so all of the usual problems (maintenance fees, perpetuity) should be taken into account. There's more issues with the industry than the sticker price. |
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warrenpeas
Joined: 08 Jan 2008
Posts: 34
Location: Cali
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| Posted: Mon Mar 03, 2008 8:22 pm Post subject: |
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I agree with the above, but it seems like it must be done often enough to the buyers advantage...there are stories everywhere about individuals who happily purchased "on resale"
Most timeshare advice columns also tell you to look at resale prices before committing to anything. I'm not saying that automatically makes them great deals, I think the act of buying on resale is fairly commonplace in spite of the scams that abound. |
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evicpin
Joined: 28 Dec 2007
Posts: 70
Location: Midwesty
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| Posted: Mon Mar 10, 2008 9:14 pm Post subject: |
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| warrenpeas wrote: | | I agree with the above, but it seems like it must be done often enough to the buyers advantage...there are stories everywhere about individuals who happily purchased "on resale" |
You're right, but why is it that those stories always seem to come from individuals who are in turn re-selling weeks?
Most of the successful resales I've been told about were, again, involving friends or neighbors or family members. Unless anyone has had experience (or heard about experience) to the contrary? |
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warrenpeas
Joined: 08 Jan 2008
Posts: 34
Location: Cali
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| Posted: Thu Mar 13, 2008 3:22 pm Post subject: |
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| evicpin wrote: |
You're right, but why is it that those stories always seem to come from individuals who are in turn re-selling weeks?
Most of the successful resales I've been told about were, again, involving friends or neighbors or family members. Unless anyone has had experience (or heard about experience) to the contrary? |
Hm. You might be right. Most of this claim is stuff I've "overheard" in other travel forums (fodor's, etc). I don't know if those individuals were in any way affiliated with the timeshare industry. |
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Jon
Site Admin
Joined: 26 Nov 2007
Posts: 85
Location: California
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| Posted: Fri Mar 14, 2008 5:38 pm Post subject: |
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| evicpin wrote: |
Most of the successful resales I've been told about were, again, involving friends or neighbors or family members. Unless anyone has had experience (or heard about experience) to the contrary? |
I've read a few experiences to the contrary on places like sedona blog, where we were mentioned last month. I think the author there had bought a timeshare on the resale market.
I've also read similar testimony on the Timeshare User's Group, but they have such a high concentration of sales people it's difficult to know for sure. |
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evicpin
Joined: 28 Dec 2007
Posts: 70
Location: Midwesty
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| Posted: Mon Mar 17, 2008 11:42 pm Post subject: |
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| Jon wrote: | | I've also read similar testimony on the Timeshare User's Group, but they have such a high concentration of sales people it's difficult to know for sure. |
Yeah, I know what you mean...not that they aren't telling the truth, but the situation is bound to be different for folks who can wheel and deal with multiple properties under their belt. A lot of them probably have connections whereby they can rent out quicker and cheaper than the average consumer as well. For the rest of us, however, it's a far more difficult process, or at least seems to be, judging from the testimony. |
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dial-a-shue
Joined: 04 Feb 2008
Posts: 36
Location: The Big Snapple
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| Posted: Wed Mar 19, 2008 6:05 pm Post subject: |
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| evicpin wrote: | | Most of the successful resales I've been told about were, again, involving friends or neighbors or family members. Unless anyone has had experience (or heard about experience) to the contrary? |
I've both rented and sold before through local classified ads. It made more sense to do it that way because the timeshare was somewhat "local," being a popular resort for people in my area. I think it depends on where the timeshare is.
People in metro area like NY, for instance, probably find it more beneficial to go through a listing service since their timeshare spots (in Florida, for example) are likely to need a plane ticket. So you could sell it.
Rule of thumb maybe: if you drive to your timeshare, use a local ad. If you fly, go with a national listing service. |
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talez
Joined: 01 Oct 2008
Posts: 10
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| Posted: Thu Oct 02, 2008 5:51 am Post subject: I'm considering selling it for a penny |
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Well, I have Shell Vacations Club. I wouldn't mind selling it for a penny (or just simply a title transfer), as long as you take care of the title transfer.
Too many scams out there. Sellers can't sell, if they get an offer they are most likely getting scammed; buyers won't buy because they are afraid of being scammed.
I wish there is a way to punish all the scams |
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dial-a-shue
Joined: 04 Feb 2008
Posts: 36
Location: The Big Snapple
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| Posted: Wed Oct 08, 2008 4:57 pm Post subject: Re: I'm considering selling it for a penny |
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| talez wrote: | Well, I have Shell Vacations Club. I wouldn't mind selling it for a penny (or just simply a title transfer), as long as you take care of the title transfer.
Too many scams out there. Sellers can't sell, if they get an offer they are most likely getting scammed; buyers won't buy because they are afraid of being scammed.
I wish there is a way to punish all the scams |
Here here! Have you been able to use the SVC recently? Do you own points with them or a deeded property? |
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talez
Joined: 01 Oct 2008
Posts: 10
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| Posted: Sat Oct 11, 2008 3:37 am Post subject: |
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Yeah I was able to use SVC. To really utilize SVC, I have to book at least 9 month out. That is not so practical for me.
I own points and I also have a piece paper from a title company. It says I'm a permanent member. What does a deed look like? Is it the title paper? |
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evicpin
Joined: 28 Dec 2007
Posts: 70
Location: Midwesty
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| Posted: Mon Oct 13, 2008 4:30 pm Post subject: |
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| talez wrote: | | Yeah I was able to use SVC. To really utilize SVC, I have to book at least 9 month out. That is not so practical for me. |
yikes
| talez wrote: | | I own points and I also have a piece paper from a title company. It says I'm a permanent member. What does a deed look like? Is it the title paper? |
Deed and title are very often used interchangeably, so that would suggest that you do in some way have SOME ownership, although the details of this would probably be difficult to nail down. That phrase "permanent member" is a little odd.
At the end of the day what the "title" or "deed" looks like is probably less important than the terms that are stipulated in the contract. Interesting, tho, I've never been in a point-based system and did not know that they issued titles of any kind. |
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