Buying, Renting, and Selling Timeshares

I DONT KNOW WHAT TO DO ANYMORE

Hi my name is Denise, I dont even know how i got into this timeshare thing. I've had this property since 2000 (had already tried to sell it--& got scammed) & to make the situation even more disgusting the resort practically forced us to upgrade our property because it would be impossible for us to use it otherwise.

I've tried everything, even tried to sign a quick-claim deed with the resort but they refuse to do it.

I'm frustrated and upset and I still owe money so I can't even give it up with out this affecting the rest of my life.

Does anyone have any suggestions. I've tried to put it up for sale but there are hundreds of timeshares for sale for less.

Denise A.

denisea76 wrote:
Hi my name is Denise, I dont even know how i got into this timeshare thing. I've had this property since 2000 (had already tried to sell it--& got scammed) & to make the situation even more disgusting the resort practically forced us to upgrade our property because it would be impossible for us to use it otherwise.
I've tried everything, even tried to sign a quick-claim deed with the resort but they refuse to do it.
I'm frustrated and upset and I still owe money so I can't even give it up with out this affecting the rest of my life.
Does anyone have any suggestions. I've tried to put it up for sale but there are hundreds of timeshares for sale for less.

================= Unfortunately, your options are limited as long as you still owe money. Even if you found a charity that was willing to take your unit, they could not do so until the loan was paid. Depending on your unit, you might be able to rent to cover some of your costs. Where do you own? How many bedrooms? What week do you own (fixed or floating)? In the meantime, you should use the unit or look into possible exchange options.

Mike N.

mike1536 wrote:
denisea76 wrote:
Hi my name is Denise, I dont even know how i got into this timeshare thing. I've had this property since 2000 (had already tried to sell it--& got scammed) & to make the situation even more disgusting the resort practically forced us to upgrade our property because it would be impossible for us to use it otherwise.
I've tried everything, even tried to sign a quick-claim deed with the resort but they refuse to do it.
I'm frustrated and upset and I still owe money so I can't even give it up with out this affecting the rest of my life.
Does anyone have any suggestions. I've tried to put it up for sale but there are hundreds of timeshares for sale for less.
================= Unfortunately, your options are limited as long as you still owe money. Even if you found a charity that was willing to take your unit, they could not do so until the loan was paid. Depending on your unit, you might be able to rent to cover some of your costs. Where do you own? How many bedrooms? What week do you own (fixed or floating)? In the meantime, you should use the unit or look into possible exchange options.

Its a 2/2 floating annual in the Mystic Dunes in Orlando, Fl. What could be a reasonable rent price?

Denise A.

denisea76 wrote:
mike1536 wrote:
denisea76 wrote:
Hi my name is Denise, I dont even know how i got into this timeshare thing. I've had this property since 2000 (had already tried to sell it--& got scammed) & to make the situation even more disgusting the resort practically forced us to upgrade our property because it would be impossible for us to use it otherwise.
I've tried everything, even tried to sign a quick-claim deed with the resort but they refuse to do it.
I'm frustrated and upset and I still owe money so I can't even give it up with out this affecting the rest of my life.
Does anyone have any suggestions. I've tried to put it up for sale but there are hundreds of timeshares for sale for less.
================= Unfortunately, your options are limited as long as you still owe money. Even if you found a charity that was willing to take your unit, they could not do so until the loan was paid. Depending on your unit, you might be able to rent to cover some of your costs. Where do you own? How many bedrooms? What week do you own (fixed or floating)? In the meantime, you should use the unit or look into possible exchange options.
Its a 2/2 floating annual in the Mystic Dunes in Orlando, Fl. What could be a reasonable rent price?

========== There are 2 bedroom units on RedWeek that rent from $700/week to $1500/week. Check out tug2.net and vacationtimesharerentals.com to see what listings they have. Orlando is oversaturated with TS and there is a wide assortment from which to choose (over 1500 Orland area rentals on Vacation Timeshare Rentals alone). Try to book a high demand week and rent for a reasonable price. Reserve a week where if you cannot rent, you can use the unit yourself. This is a 5-Star with Interval International, so (assuming you are a member of II), if you deposit early you might get some good exchange possibilities. RedWeek has its own exchange program, and while it is still in its infancy (still has a few bugs), you might want to check it out as well. If you do decide to use RedWeek for exchange, the early you deposit (prior to check-in) the more points you will get for exchanging. Good Luck Mike

Mike N.

dinesea, please don't beat yourself up over your timeshare purchase. Millions of people bought their first timeshare from the developer so you're definitely NOT alone.

As Mike suggested, until your timeshare is paid off you're more than likely stuck with it, but you can reap benefits from your ownership by using, renting or exchanging it.

You own at a very nice resort .... we toured there (it was under another name) when it was new. And yes, it's in overdeveloped Kissimmee/Orlando, but millions of people visit that area yearly from across the globe. Best I can remember, the unit we toured had leather furniture and a huge screen TV and the decor was beautiful.

As mike suggested, if you don't want to use or exchange it perhaps you can rent it. Since it's a floating week, try to confirm a week that is in high demand (a holiday week; Christmas, New Years, 4th of July, Easter, spring break etc.) when that area is in huge demand. Also, when choosing a rental amount, be competitive in your pricing since there are literally thousands of rentals (of all types including houses) in/around Orlando.

And, as mike suggested, you might consider depositing your week with Redweek (after cofirming a week with Mystic Dunes) and see what you may get in a trade closer to your home.

R P.

Denise - dont get too frustrated, and try to get something out of it. If you cannot use your week -try to post it for rent at www.bidshares.com, or try to put an ad on ebay(UK). Also, spacebanking with RCI ( if your resort has that option ) helps a lot, you can even exchange it online and offer other top resorts for next year which you are able to exchange into. They also have other features such as extra vacations and cruises, which are a bargain compared to rental prices charged by those resorts - even considering guest certificate fees. If you are investing a little time and effort, perhaps you can even earn some money to pay back your debt. The membership fees RCI charges are a very smart investment. We also bot first unit just like you did, but got smarter over time. Just don't believe upgrading or switching from fixed to floating or even point system helps - it just helps the salesperson, does not make your situation any better. Jayjay is right - it is a nice resort, close to everything - including summercamps for kids, and lots of outlet shopping. European visitors love it, in particular if you consider the dollar/Euro exchange rate ! Be patient, if you actually use it and compare maintenance with hotel costs you would have paid, you slowly amortize your purchase price. But yes, it will take a couple of years. On the other hand, many people burn money in the stock market overnight, and may never recover their investment. Just make sure your resort remains top-quality !

I W.

THANK YOU GUYS FOR ALL OF YOUR ENCOURAGING WORDS. I TRULY APPRECIATE ALL THE ADVICE AND SUGGESTIONS. I WILL DEFINITELY LOOK INTO ALL OF THE IDEAS YOU GUYS HAVE GIVEN ME.

THANK YOU VERY MUCH!!! DENISE

Denise A.

mike1536 wrote:
denisea76 wrote:
Hi my name is Denise, I dont even know how i got into this timeshare thing. I've had this property since 2000 (had already tried to sell it--& got scammed) & to make the situation even more disgusting the resort practically forced us to upgrade our property because it would be impossible for us to use it otherwise.
I've tried everything, even tried to sign a quick-claim deed with the resort but they refuse to do it.
I'm frustrated and upset and I still owe money so I can't even give it up with out this affecting the rest of my life.
Does anyone have any suggestions. I've tried to put it up for sale but there are hundreds of timeshares for sale for less.
================= Unfortunately, your options are limited as long as you still owe money. Even if you found a charity that was willing to take your unit, they could not do so until the loan was paid. Depending on your unit, you might be able to rent to cover some of your costs. Where do you own? How many bedrooms? What week do you own (fixed or floating)? In the meantime, you should use the unit or look into possible exchange options.

how do you go about renting it

Maisha B.

denisea76 wrote:
THANK YOU GUYS FOR ALL OF YOUR ENCOURAGING WORDS. I TRULY APPRECIATE ALL THE ADVICE AND SUGGESTIONS. I WILL DEFINITELY LOOK INTO ALL OF THE IDEAS YOU GUYS HAVE GIVEN ME.
THANK YOU VERY MUCH!!! DENISE

Denise I just read your post I am sorry that you are not happy with your timeshare purchase. I suggest trading it to travel to other resorts. If you can afford the expencence of flying, I would highly recommend going to one of the Caribbean Islands. My husband and I purchased our first timeshare in 1984 At first it was hard to make the payments etc, but after few years of owning it and then trading it through Interval International we saw then what a great investment it was. We would have never been able to trravel and see the beautiful Islands if it hadn't been for our timeshare weeks We now own 5 other weeks at different resorts and we rent them at times, let family use them and deposit and rent them. Just hang in there. Many Blessings to you and your family, Barbara in Va

Barbara M.