• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Time Share

Status
Not open for further replies.

norapp

Member
Joined
Jul 11, 2016
Professional Status
Certified Residential Appraiser
State
New York
I just got an order to appraise a timeshare. I have never done one and am not starting now. Just curious who has done this type of appraisal?
 

Howard Klahr

Senior Member
Joined
Oct 4, 2004
Professional Status
Certified General Appraiser
State
Florida
who has done this type of appraisal?
There are several types of timeshares some involve interests in real estate and others are not. Depending on the type and the licensing laws in your state will determine if you are even allowed to perform these type of assignments.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Would not touch it with a ten foot pole. Many, probably most, are worth less than zero. And those with actual RE are often so tied up they are perpetual money makers for the creators. You cannot even quit claim them. There are law firms that specialize in breaking such contracts. I know a party who once paid $200 (transfer cost) just to give one away, another who got $1,000 for theirs.
 

Riick

Elite Member
Joined
Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware
They ain't Real Estate.
BTW... is this possibly for Estate purposes?
 

norapp

Member
Joined
Jul 11, 2016
Professional Status
Certified Residential Appraiser
State
New York
They ain't Real Estate.
BTW... is this possibly for Estate purposes?
No. Lender said it was ordered as a condo sale. I told her if I could buy a lakefront condo for $95k I would be living on the lake. Condos start at $500k.
 

glenn walker

Elite Member
Joined
Oct 11, 2006
Professional Status
Certified Residential Appraiser
State
California
Are you sure the lender did not make a mistake ?? I don't know any traditional lenders doing small timeshare loans - ?
 

norapp

Member
Joined
Jul 11, 2016
Professional Status
Certified Residential Appraiser
State
New York
Are you sure the lender did not make a mistake ?? I don't know any traditional lenders doing small timeshare loans - ?
They did make a mistake. It was represented as a condo with full use. They took it back.
 

Riick

Elite Member
Joined
Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware
Riick said: They ain't Real Estate.
They can be.
Really... ? I think of them as merely right to use for certain time period @ year,
never looked at any more legal detail than silly timeshare salesmen in
badly worn-out sports jackets had information on. EG: zilch
 

Pittsburgh Pete

Elite Member
Joined
May 6, 2008
Professional Status
Certified General Appraiser
State
Pennsylvania
Riick said: They ain't Real Estate.

Really... ? I think of them as merely right to use for certain time period @ year,
never looked at any more legal detail than silly timeshare salesmen in
badly worn-out sports jackets had information on. EG: zilch
They are a limited ownership interests in real estate. Valuing specified interests in real estate is what we do!
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks