ask-redweek-get-rid-of-my-timeshare

If you want out of your timeshare and: 1) It's paid for 2) You are up to date on maintenance fees

Call your timeshare and do as the article says: find out if they offer a "deed-back/surrender" option.

Most of them do. However you MUST use those words. If you call and say I want to give it back they will tell you that you cant do it. You have to say "deed-back".

They will most likely say, they need to check inventory and let you know. Then they will call you back and tell you there is a fee for them to do the legal paperwork blah blah etc. Pay the fee, complete the paperwork, get it notarized, send it back by traceable means and in about 2 weeks to a month you are done with that millstone of a timeshare that was around your neck.

YOU DO NOT NEED a timeshare exit company or any attorneys to charge you $$$ to do what you can do for yourself. Because, guess what? This is EXACTLY what they will do on your behalf and charge you thousands on top of it to make you think you needed them.

Signed, A person who got out of my timeshare on my own by calling and asking for their deed-back option.

Anyone who buys timeshares this day & age are idiots.

anyone who buys a timeshare this day & age with all the information out there is an idiot.

I CAN NOT afford this. It was not my idea. I called Orange Lake and got the rudest person I'v ever spoken to to in my life. I want to work something out with them, but I don't need attitude. Please tell what I need to do to get out of this trap!

You could just walk away and let them foreclose .

Sondra, Go the the industry website: www.responsibleexit.com. The second line down shows Holiday Inn Vacation Club, which is the owner of Orange Lake. Go to their link, read it, and fill out the form. They have a complete department that specializes in this subject. They should call you back or direct you to a number for their services. Clerks at the resort know nothing. Plus, if you anything on your timeshare, you will probably be out of luck.

realityw wrote:

anyone who buys a timeshare this day & age with all the information out there is an idiot.

I wouldn't call such people idiots. Some might make an unwise purchase, but they're not idiots. Besides, there are some people who like owning timeshares and owning timeshares works for them. Are they idiots if they enjoy and make good use of the timeshare(s) they purchase?

Anyone have anything with Silverlake resort in Florida? We have a contract but want out!

Anyone have anything with Silverlake resort in Florida? We have a contract but want out!

What do you mean by you want out of the contract? If you own a deeded week, you own property, not a contract. Nonetheless, if you no longer wish to be an owner with all its responsibilities, then you have to find another owner for your deeded week. Here are some options although they might not be to your liking.

Try asking the resort's Homeowners' Association if it will take your unit back. It might ask you to pay closing costs and maybe even the next maintenance fee but that will be a small price to pay compared to other options. Perhaps say firmly that you are not going to pay another penny in maintenance fees so it would be in everyone's best interests for the HOA to take back the unit amicably.

Try advertising it for sale/giveaway here on RedWeek. You can also try E-Bay, My Resort Network, Craigslist, or Timeshare Users Group (aka "TUG"; tugbbs.com). TUG has a Bargain Deals section that allows you to advertise for free that you want to give your unit away.

The other option is to just stop paying maintenance fees and the resort will eventually foreclose on you. The downside is that you will face a barrage of collection calls and letters and probably a hit/ding on your credit rating or credit score.

But most importantly, do not use the services of many of these companies or law firms that have words in their names such as exit, cancel, relief, freedom, etc. These are usually scams.

This last comment was very helpful as we are also at Silver Lake in Florida and want out. We have a Red (open) week - it's actually points , and have no financial commitment to the Deed other than the annual Maintenance Fee. We're done and no longer want it. We are letting the RCI expire as well. Very leery of any third party time share exit groups or lawyers. It appears the best way of going about this is to approach the Resort and try and resolve amicably?

This is horrible information. There is no resale value on Timeshares. Go on Ebay and see for yourself. THEY DONT SELL. Hire a lawyer to do a legal dissolution. That is the only way.

I’m a Canadian senior who is doing the “walk away” option after I told the resort that I want to pay them to get out many years ago, to which they said that there is no way. Last week, I received a letter from a collection agency from California and I started to worry. I’m not concerned about credit score but not sure if they can take money from my bank account. Also starting to look at exit company but afraid that I will get myself into another money pit. Not sure what to do yet.

What state did you buy the timeshare in? Some states require a non-recourse foreclosure where the timeshare company can only take back the timeshare and cannot go any further. Florida is such a state. DON"T hire an exit company. They can't do anything constructive. Just ignore the threatening letters. You can go to www.tug2.com and explain your situation. A number of helpful owners can direct you. Canadian owners rarely get prosecuted in America - too expensive.

Just say no and walk away.

f you want out of your timeshare and: 1) It's paid for 2) You are up to date on maintenance fees

Call your timeshare and do as the article says: find out if they offer a "deed-back/surrender" option.

Most of them do. However you MUST use those words. If you call and say I want to give it back they will tell you that you cant do it. You have to say "deed-back".

They will most likely say, they need to check inventory and let you know. Then they will call you back and tell you there is a fee for them to do the legal paperwork blah blah etc. Pay the fee, complete the paperwork, get it notarized, send it back by traceable means and in about 2 weeks to a month you are done with that millstone of a timeshare that was around your neck.

YOU DO NOT NEED a timeshare exit company or any attorneys to charge you $$$ to do what you can do for yourself. Because, guess what? This is EXACTLY what they will do on your behalf and charge you thousands on top of it to make you think you needed them.

Signed, A person who got out of my timeshare on my own by calling and asking for their deed-back option.

I have a timeshare that I believed was given back to Marriott in February of 2022. Our dues were paid in December of 2021 for 2022 by my husband. But now Marriott wants $1,800 to deed this back. My husband passed away in December of 2021. I am 80 years old and don't need to pay anymore money to Marriott Desert Springs II. I do not drive and will not need to have good credit. I have not used this timeshare in 2022 nor will I use it 2023. I believe that Marriotts deed back program is very costly and unfair because I was told in February that I could just deed it back with no costs. Now 2023 fees will be due. They have sent me a 21 page document with many instructions that I don't understand. I believe this is elder abuse. I will consider other organizations that will help me with this issue. I am unable to pay maintenance fees for something I did not use and will not use for 2023. Deed back program is costly. Do not deal with Marriott.