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Deedbacks (by R P.):

ken1193 wrote:

I don't disagree with much that's stated above.

That said, I am nonetheless aware of some resorts which DO seem to make "deedbacks" work, at least to some degree. Maintenance fees must be current, with no outstanding fees, assessments, loans, liens or any other encumbrances as an obvious pre-condition for consideration and acceptance.

What the HOA then does in these instances is openly offer the accepted "deedback" week to other owners on a "bid" basis via periodic newsletter notice to owners. This is ONLY offered "in house" (i.e., to other existing owners). Who better than a current owner to be potentially interested in a virtually free additional week? The submitted bid must always be, at a minimum, at least the amount of a years' maintenance fee.

In this manner, an "internally auctioned" week, although essentially being given away, now has a new owner responsible for maintenance fees --- and fully intending to pay them.

I'm certainly not recommending that people make bad or hasty purchase decisions, nor am I suggesting that anyone can (or should) just turn their back on a financial and legal obligation. I'm also not saying that every week has value; some are frankly just about completely worthless. I'm simply saying that "deedbacks" do have their place in some instances, to the benefit of both former and new owner, as well as the resort which needs the MF's for operation. Where and when available, "deedback" is certainly a better option than paying a PostCard Company $3k (except, of course, for the PostCard Company...).

There might be a few resorts that take deedbacks, but the vast majority do not. And those resorts that do probably know they can resale the weeks with no problems (supply and demand).

The resorts where you own would probably take deedbacks since you own in the very powerful southwest Florida area (high demand) during snowbird season (wks 1-15 ... low supply), so your resort(s) know that your weeks can be resold in a NY minute ..... actually, there's probably a waiting list for any weeks that become available .... entirely different ballgame.