Getting rid of a time share.

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Original Message:

Re: Getting rid of a time share. (by Steve M.):

lancec13 wrote:
adahiscout wrote:
, they have a Lifetime agreement for a one time $1,198. MD

That's one of many euphemisms for "large upfront fee".

So I will repeat this rule that cannot be overstated: Never, ever pay anyone a large, upfront fee (regardless of how they label it) to sell, rent out, or market your timeshare.

I have to agree 100% with this comment. NEVER pay upfront fees. The only time you should be paying anything, is if it is to an escrow company to cover any costs you have agreed to pay in selling the time share. Such as if you agree to pay for the closing on a sale that is low enough in price to not cover the closing costs and transfer fees. Then and ONLY then you should send the funds directly to the escrow service for the expected balance due at closing.

And one last point - you MUST check out the closing company if you did not contract them yourself. There are a lot of scams out there where the closing company is actually owned by the buyer. Once you send the funds in - they disappear - and you are out the money - maybe even out the time share if they transfer the deed and then keep the money owed you. Always use an independent escrow.