WALK AWAY FROM TIMESHARE

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Original Message:

Re: Re: WALK AWAY FROM TIMESHARE (by NoOneYouKnow):

laurrao wrote:
We have a timeshare in Costa Rica, one week per year. We want to get rid of it. Options include reselling it ourselves or through a resale company, or turning it back in, which would cost $1500US in lawyer fees. Can I just not pay the maintenance fees and walk away from it? L

Have you tried to get rid of it yourself? I assume you have another year before another fee is due.

So, offer it for free wherever you can, and offer to give it to the "resort", even if that means the HOA. As I stated earlier in this thread, I asked one of our "legacy" resorts to take a week back for years, and they finally did, after I had given two weeks away. If the resort has a rental program, they can normally earn more than a maintenance fee if they own the week and rent it out.

One of the resorts we still own at does exactly that, and gets $900 instead of $533. They also rent out owned weeks, for a 25% commission, and in that case they earn $533 plus $225, and the owner gets their $533 back, plus $150.

A "legacy" resort can be profitable, but only if there is an HOA that has the desire to, and a responsible adult in charge.

Of course, if there is no real market or rental value for the resort or location, it's pretty much doomed, which is not necessarily a bad thing.