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Re: What happens if you just stop PAYING? (by R P.):

carvana wrote:

I have enjoyed timeshares for twenty years and my family has enjoyed many wonderful vacations using them. The problem with timeshares is that there is no established secondary market for selling them.

There is IF you do your homework and persuse all the ad sites to see what a comparable week has sold for. It's called self education, just like these forums (and others like TUG) try to educate people concerning all phases of timeshare.

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I look forward to the day when it will be as easy to sell a timeshare as it is to buy it.

Don't hold your breath. It's the nature of the beast and that's why we're here. A resale will ALWAYS sell for what the market (buyer) will pay .... no more, no less. There will never be a resale scale to go buy .

That day will arrive sooner rather than later if some of the deadbeat resorts that sell timeshares for $8,000 that are immediately worthless are put out of business permanently.

The resorts aren't deadbeats, nonpaying owners are the deadbeats by not paying their fees. Until and unless timeshares are regulated by the federal government, the current practices will remain as they are now. That's why we tell people to NEVER BUY FROM A DEVELOPER, because the minute you do your week drops to 1/2 (if you're lucky) to 1/4 in value of what you paid initially.

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Certainly these resorts refuse to take deed backs because they recognize the timeshare is worthless the day they sell it. Jayjay's argument that the owners should continue to prop up these deadbeat resorts by continuing to pay the MFs delays the day when the timeshare industry cleans up its act and weeds out these deadbeats and establishes a secondary market.

It's not a resort's responsibility to educate the public on developer bought timeshares vs the resale market .... every buyer should do their own due diligence and read everything on the internet they can concerning all phases of timesharing, the ins and outs, the scams, the good, the bad and the ugly.

The first timeshare we ever bought was from a developer because we didn't know any better. By the time I got back home and was able to peruse the internet concerning a developer bought week vs a resale, it was too late to rescind. I don't blame the developer, I BLAME MYSELF for not getting to the internet in time. Developers have very high overhead and they have to make a profit ..... again, I didn't blame the developer.

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I believe in the sanctity of a contract as much as anyone but I also recognize that some state and/or Federal regulation should be brought to bear on an industry where the comparative knowledge of the parties entering into the agreement is so disparate that it often results in one party being unjustly enriched and the other with a timeshare that cannot be sold or given away.

Again, since buying that first developer timeshare, I never buy anything without checking it out backwards and forwards and inside and out on the internet. That's what I should have done then, but I had other things on my mind like unpacking and getting life back in order after vacation.

We went on to buy 8 resales at a fair price and I sold all of them for what we paid for them via my timehare education via the internet.