General Discussion

Getting rid of a time share.

cynthiah220 wrote:
ALL THIS JUST TO GET RID OF SOMETHING. The more I read, and try to figure out what to do with a timeshare, I have not used and still owe on, and want to get rid of. Makes me think ever more what a racket the whole thing is. $ to buy .$ to keep for life. $ to get rid of. $$$$$$$$$$$$$$$$$ wish I had not been talked into it.

The only way to legitimately get rid of a timeshare is to transfer ownership to someone else. The fact that you still owe money on your original purchase is a negative since no one will buy (or be given) a timeshare with a mortgage. The best thing you can do is learn how to use, exchange or rent your timeshare until it's paid off then you can try to sell or give it away.

R P.

Cynthian220 and others like yourself like to blame others for talking you into buying a timeshare. You can't be talked into buying into a timeshare unless you wanted one, of coarse I'm giving you credit for some common sense! Again as stated many times you only buy a timeshare for your family use and any other reason just a backup option. There are millions of happy timeshare owners out there because they own and use their resort for vacations and not trying to make a profit! Yes timeshares have like homes lost value but if you are enjoying your week or exchanging you have lost nothing.

Phil L.

Last edited by phill12 on Jun 01, 2012 08:00 AM

There is NO ~ let me repeat this ~ NO company that will sell your timeshare ~ if you pay $ up front ~ consider it GONE...we have experienced this listening to the salesperson at Hacienda del Mar in Cabo San Lucas :-(

Selling a timeshare is not difficult ~ Redweek works ~

Colleen O.

Haven't used it. what surprised me was they lied about my finances, we talk them our income and they added to it, for us to pass. yea my fault. I guess i saw a dream that doesn't exsist. can't afford it, or closing or anything. Income ssi and ihss I get for taking care of my daughter. We had an estate we were trying to get rid of, they wrote that the estate was paying us, it was not, we told them so. Could I talk to the resort? Or am I stuck with trying to use it and points. For the rest of my life. I have very little $

Cynthia H.

One more time:

Also, what was told you verbally by the salesperson (he said, she said etc) is of no consequence .... the only legal binding is what is written in the contract.

R P.

cw90 wrote:
Selling a timeshare is not difficult ~ Redweek works ~

Selling a timeshare in this economy IS difficult ..... many are being given away with the owners paying closing.

R P.

has anyone heard of the book "write a letter to cancel your timeshare?

Cynthia H.

cynthiah220 wrote:
has anyone heard of the book "write a letter to cancel your timeshare?

I personally have never heard of that book. Frankly, I don't see why one would need a whole book explaining how to write a letter.

The suggestion that's bandied about on boards like these is just to write a letter to the resort's Home Owners Association (HOA) explaining your plight and that you need to get rid of your timeshare. The HOA might comply and take it back. It might require you to pay closing costs and perhaps1 or 2 years' maintenance fees.

If the HOA says no, then try other methods to give it away. But, whatever you do (and I will repeat this as many times as necessary until all these scam artists are shut down and jailed), never ever pay anyone a large, upfront fee to sell, rent out, market, or "cancel" your timeshare.

Lance C.

cynthiah220 wrote:
has anyone heard of the book "write a letter to cancel your timeshare?

As Lance stated, one can't just write a letter deeding a timeshare back to a resort .... the resort would have to be willing to take the deed back and paperwork would have to be handled.

Cynthia must be talking about a rescission letter (sent via USPS certified with return receipt) that is sent to a resort WITHIN the rescission period designated in their contract after purchasing.

R P.

Has anyone used the site Donate For A Cause? If so, please enlighten me on your thoughts? Thank you. ----Ray

Ray H.

koolray wrote:
Has anyone used the site Donate For A Cause? If so, please enlighten me on your thoughts? Thank you. ----Ray

It's a scam, pure and simple. Stay as far away as possible.

Tam M.

traudem wrote:
koolray wrote:
Has anyone used the site Donate For A Cause? If so, please enlighten me on your thoughts? Thank you. ----Ray
It's a scam, pure and simple. Stay as far away as possible.

I wouldn't refer to Donate For A Cause (DFAC) as a scam per se. DFAC will do what you pay them to do and there are no hidden charges.

Right from the get-go they tell you what it will cost you ($2500 or more) for them to take over ownership from you. If you pay that fee, then they will indeed take over ownership and continue to pay maintenance fees until they can legally transfer it to another willing owner.

That being said, there are at least three things to watch out for:

1) You can get rid of your timeshare for a lot less than $2500 by advertising that you want to give it away. If you offer to pay the closing costs and 1 (or even 2) year's maintenance fee, you might find a taker.

2) DFAC won't accept a timeshare that they don't think they can quickly turn around and resell or at least give away. So, if they say they will accept yours, it might just be cheaper for you to try to give it away yourself.

3) The one thing that bothers people in these timeshare circles and forums about DFAC is the tax advice DFAC gives. DFAC tells you that you can write off close to what you paid the developer. So in other words, if you paid the developer about $15,000 for your timeshare, then you should be able to write off about $12,000, or so, on your tax return. That advice is sketchy at best. Writing off a timeshare donation on your tax return is a complicated, risky process. My personal advice (FWIW) is to not bother with any tax deduction if you decide to "donate" your timeshare.

Lance C.

lancec13 wrote:
traudem wrote:
koolray wrote:
Has anyone used the site Donate For A Cause? If so, please enlighten me on your thoughts? Thank you. ----Ray
It's a scam, pure and simple. Stay as far away as possible.
I wouldn't refer to Donate For A Cause (DFAC) as a scam per se. DFAC will do what you pay them to do and there are no hidden charges.
Right from the get-go they tell you what it will cost you ($2500 or more) for them to take over ownership from you. If you pay that fee, then they will indeed take over ownership and continue to pay maintenance fees until they can legally transfer it to another willing owner.
That being said, there are at least three things to watch out for:
1) You can get rid of your timeshare for a lot less than $2500 by advertising that you want to give it away. If you offer to pay the closing costs and 1 (or even 2) year's maintenance fee, you might find a taker.
2) DFAC won't accept a timeshare that they don't think they can quickly turn around and resell or at least give away. So, if they say they will accept yours, it might just be cheaper for you to try to give it away yourself.
3) The one thing that bothers people in these timeshare circles and forums about DFAC is the tax advice DFAC gives. DFAC tells you that you can write off close to what you paid the developer. So in other words, if you paid the developer about $15,000 for your timeshare, then you should be able to write off about $12,000, or so, on your tax return. That advice is sketchy at best. Writing off a timeshare donation on your tax return is a complicated, risky process. My personal advice (FWIW) is to not bother with any tax deduction if you decide to "donate" your timeshare.

You are the first person claiming that this company actually "transfers ownership" in legal terms. I don't believe it, period.

Tam M.

i have a place falmouth ma cape cod captains quarters 1 bd 2 bath i dont want too hard to travel anymore , ken

Ken H.

kenh244 wrote:
i have a place falmouth ma cape cod captains quarters 1 bd 2 bath i dont want too hard to travel anymore , ken

Many are in the same boat as you wanting to unload a timeshare. The sad truth is there aren't as many looking to buy/take a timeshare as there are owners who want to unload.

Your best bet is to list it here in RedWeek's Bargain Basement for a dollar and see if anyone wants it. Also, check out Timeshare Users Group (aka "TUG"; tugbbs.com) in the Bargain Deals section. Just follow the instructions at the top of that page.

But, above all, never ever pay anyone a large, upfront fee to sell, rent out, market, or "cancel" your timeshare otherwise you will get scammed.

Lance C.

This is an ad .... ads are not permitted in the forums.

R P.

We are mexicans, living in Mexico. My mother owns a Timeshare in Florida, she bought it 10 years ago and she has never used it. We have to give away the weeks to friends and family every year. All payments are up to date. No mortgage, it was paid in full some time ago. The issue is that my mother doesnt want to continue paying mainteninance fees, shee does not want anything back, jut to get rid of the obligation. As that she is retired and does not have the means to continue with payments. If she stops payments, Is there anything the resort can do to make damage my mother ?

Carlos R.

carlosr123 wrote:
We are mexicans, living in Mexico. My mother owns a Timeshare in Florida, she bought it 10 years ago and she has never used it. We have to give away the weeks to friends and family every year. All payments are up to date. No mortgage, it was paid in full some time ago. The issue is that my mother doesnt want to continue paying mainteninance fees, shee does not want anything back, jut to get rid of the obligation. As that she is retired and does not have the means to continue with payments. If she stops payments, Is there anything the resort can do to make damage my mother ?

It depends on the resort, but they can come after your mother via collection agencies and other means if she stops paying maintenance fees .... the best thing you can do is either offer the week back to the resort or give it away and offer to pay closing costs and this years' maintenance fees. Redweek has a bargain basement ad section for such. If it's a Florida summer ocean front or gulf front week it may have some value. If so you need to place an ad in the sell section here.

R P.

Has anyone heard of Heartland Transfer? They appeared on my email and it says there is no upfront fee? Is this another scam??

Barbara G.

It's a scam. They will ask for some kind of " fee " before they can complete the transfer. They first set the hook by claiming there is no upfront money but then they come up with the " fee " after they feel you are on the hook. Don't answer the email and you won't get burned.

Don P.