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Re: Getting rid of your timeshare (by R P.):

drk14 wrote:

jayjay wrote:

BECAUSE of the economy timeshares are not worth anything like they were pre-2006.

You are so right. However, it brings up an interesting question. How are the resorts still able to sell theirs at their presentations for the exorbitant prices they get? If they are, why wouldn't an HOA let the resort sales team resell those they take back at the resorts selling price and give 50% or even more to the resort sales group? Is it unreasonable to hope the sales team and the HOA are working to help each other when they can? They would still make more money than trying to collect on delinquent maintenance fees and it would help the desperate owners out of their financial crisis.

They wouldn't be selling at after market prices. The sales would be done as part of the resort's sales process, but with more profit since the unit has already been paid for and doesn't have to be rebuilt again. If each of 50 weeks (two off for maintenance) is sold to pay for the unit having been originally built, and one gets resold by the sales force again, it represents pure profit with only sales commissions and costs again. Am I missing something?

The HOA gets extra money. The resort sales force gets extra profit. The desperate financially owner gets out of their problem and there's no need for us or any other outside sales system. That sound's like a win, win, win solution. How do we go about getting the resorts and HOA to go along with this?

Because if the resort took back every timeshare every owner wanted to dump (due to whatever reason) the HOA could not sell them fast enough to maintain the resort. Also, people are not buying timeshares in this economy as timeshares are considered a luxury (not needed) item.

The resort would have to employ salespeople which they couldn't afford without maintenance fees coming in. You have to remember that the HOA is not the developer .... the HOA are non-paid owners that wish to see that the resort is maintained properly. If they thought it prudent to take back every timeshare that an owner wanted to dump and they could resale, then they would.

You have to remember that a contract was signed, notarized and is listed in property records at county courthouses. They're not just something the developer sold to an unsuspecting client with no legal contract involved.

And that's what I can't get my head around .... people thinking they can just give back something that they signed a legal contract for and then they're surprised when the HOA comes after them for non-payment. You couldn't do that with any other product on the market but for some inexplicable reason people think their timeshares are exempt from the same rules as other purchases.

Also, the county gets taxes from those sold timeshares so it goes deeper than just the resort and HOA.