Post reply

Re: Problem with timeshares (by Lance C.):

carolinae14 wrote:

I have a timeshare given to me by my dad. The maintance fee is very expensive 1,800 dlls per year I seldom use it but rather give it to relatives to use it by paying me at least the maintenance. I am tired to pay always in advance how can I sell it if I am a non resident for a very little price and still have to pay taxes?

The first rule is to never pay any company a large, upfront fee to sell, rent out, market, or "cancel" your timeshare. Those are scams. The next thing to do is to get an idea of what it is worth on the resale market. Over 90% of the units out there are worth about zero dollars. Try checking E-Bay for completed (not active) listings of similar units to see what they sold for.

Regardless of how much it is approximately worth, use reputable web sites such as here on Redweek, My Resort Network, Timeshare Users Group (aka "TUG"), the aforementioned E-Bay, or Craigslist. Some owners have also reported success listing on their Facebook groups. If you find out that your unit is worth zero or less, try offering the new taker an incentive such as you paying the closing costs and possibly even the next maintenance fee. Also, some timeshare companies and various resorts have deed back programs that allow the owners to surrender their ownership to the resort under certain conditions so check that out with the resort or timeshare company.