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New Assessment & Timeshare Sale (by Terry D.):

question this assessment & the use of funds also. Our assessment for a Banyan suite is approx. $800 for one week. You multiply this by 52 weeks & you're looking at over $40,000 for one unit. We bought back around 1986 & have never used the unit. Did rent it out twice, as I recall. I looked into getting rid of it after I rec'd this asssessment, rather to keep dumping money into it & was surprised at the cost involved in selling the unit. Island Realty wants approx $2,000 in commission plus approx $400-500 in closing fees, plus 4% state tax, plus my $500+ for 07 maintenance, plus $800+ for assessment. Approx, $3,800 in fees. Per Island Realty, most Banyan units are listed from $3,800 up. So much for any profit! The only one making money is the realty. Does anybody know of a quick way to get rid of a timeshare or any other Realtors?