Would like to know what I am doing wrong.

From everything I have read our TS should be selling. I have had a few inquiries, maybe 3. They are generally only one email,and then nothing. We priced it low, and listed on more than one site. I am quick to respond to emails. I don't know what else to do.

Our maintenance fees are coming due for the year and frankly we don't want to pay them and then not have it to use this year. Ours is EOY odd years. I am getting frustrated, and need some advice. IMO we have it low, do I need to go lower?

The last inquiry asked what was my rock bottom, *including closing*. It seems like in FL that could be upwards of 600-700. I really don't want to take more off the price with us paying those fees. Any advice? I hate to literallly give it away, of course would be better to keep it if we do that.

I also have a ts that I would sell if I thought that I could. After browsing around various websites and ebay, it seems to me that I would be lucky to sell it for anything substantial. My week is a red week in florida near Kissimmee. There is just too many. Various people have already commented on donating it to a charity. Try donateforacause.com I currently have an email into them for more info but have not gotten a response yet. They say it can take 2 days. As well, I contacted my developer/management group and inquired about options. At my resort they have an option for me to give the deed back to the owners association. The cost to do the legal work is $100.00. It sounds like they have done it a few times because its sounds very simple and quick to do. Personally I am going to wait to hear on the charity option. If they will give a reasonable fair market value for my donated ts week, say $5000.00 for example, I think/hope that my accountant will be able to use it to lessen my income tax payable next year. The worst option I think is to get drawn in by some of these ts relief groups and pay another several thousand dollars to get rid of a problem. If you have been browsing around this site you likely realize that you may be able to rent it on this site or tug and likely others as well. Do make sure that you know what you have before you give it away though. In searching through ebay sites and others, some ts do have real value and rent quite easily. If you let someone on this site know what you have, like jennie or jayjay and I'm sure many others, you can likely determine a course of action. Don't panic. My resort charges me $25.00 for late payment of fees and that will carry me for a few months before they would get anxious and do something more drastic, like maybe a collection agent!! Good luck

Thanks for the encouragement, I wasn't sure if it is ok to say what the place is. We have a week in July at Westgate Lakes in Orlando. It may be that we have to just use it or rent it this year and try again in 2 yrs. I can't imagine anyone buying it in a year that can't be used. In my mind 2500.00 is pretty low. Now I wonder if we would have to go even lower to get a sale.

nancy, Kissimmee (and the surrounding area) is severely over saturated with timeshare resorts, timeshare resales, timeshare rentals and private home and apartment rentals.

My advice would be to still list it for sale at $2500 but offer to pay for closing. If you then get no response I would lower the price and still offer to pay closing. Many prospective buyers have no idea how to go about the closing process and this frightens many buyers off. You might get back in touch with the person that asked if closing costs were provided by you.

In the Orlando/Kissimmee market you have to be very competitive selling or renting your unit because there are SO MANY sales and rentals available (literally thousands).

There is an economical closer that charges a small fee of $75 for the closing paperwork, however he does not provide escrow (holding money until the transaction is complete) at www.timetraveltraders.com

If you should require escrow, which would cost more, you would need to use a full service closing company such as Redweek's American Title or www.timesharetransfer.com

Thanks JayJay. :) Maybe I will just go and edit both listings and add in that we will pay closing costs. From what I can tell, we are listed really low in comparison to others. You are right Orlando is over saturated! That is one reason we want to sell ours. I wonder how much it hurts us that the maintenance fees are due right away too? Thanks for your time and advice :) I so want to get this settled so we can plan our summer vacation somewhere else :)

nancy, I haven't look at Westgate resales, but since you own an EOY (every other year) .... an EY (every year) price would double the $2500 asking price to $5000. You have to take your EOY ownership into consideration compared to EY prices.

You will know when you've hit market price (if you should have to lower it) when you start getting serious inquiries. I think you will be successful if you pay for closing. July is a very popular month in the Orlando area when kids are on school vacation.

The charitable donation rules changed a couple of years back. You can now deduct only the ACTUAL amount the charity realized in selling it.

As most of the donate for a cause timeshares go for $100 on Ebay (not counting their $495 closing fee (very high - not part of your deduction), it is as good as giving it away for free.

PS. Same IRS rules now apply to car donations.

Jayjay, are you saying we should let it ride at the price I have it ? Or drop price? I responded back to the inquiring person to clarify that we would pay closing costs, but evidently that deal wasn't sweet enough. :( I really appreciate your advice! Nancy

It depends on how bad you want to sell it. If you want to sell it NOW you may have to immediately lower your price. In the end you may not see any profit at all. The fact that it's an EOY could be a detriment.

I would not bother selling it but rent it out for a little above you maintainance fee.

Thanks Jayjay, I will talk to the hubby and see just how badly he wants to let it go, I am wondering if we go 2000.00 if it would help at all. I SO don't want to pay that MT again! Omolarad, I guess as a last resort we could rent. But don't looking fwd to having to pay to list eoy, and go thru hassle to make arrangements for someone to rent it. That would be worse than giving it away really. Unless I am missing something. Nancy

Thanks Jayjay,

I thought buying timeshare is a good thing, cause we can go to the place we like to take vacation year after year, or trade our timeshare unit for other around the world for a fee with RCI and / or II.

Now we feel depressed, we can not go to the other place that we like to visit because there is no week available for trade said "RCI" and "II". We can not sell it or rent it, but we still need to keep paying the maintenance fee year after year. The situation is hopeless; Timeshare owners will not deposit their weeks with RCI or II because they will be at the mercy of RCI and II (these companies will try to make profit by renting the weeks out first), while timeshare owners are waiting for the week and time they like to vacation to. Timeshare owners are tire of waiting! Now, with the thousand of timeshare internet websites, timeshare owners get smarter and start doing their own rentings, do not deposit their weeks with RCI and II, hence create a shortage of timeshare in RCI or II systems. So timeshare property investors build and sell more timeshares. This is an endless circle. Hope I said it correctly.

The solution is; we keep going to the home resorts year after year, and be happy with what we get.

Jayjay, with your knowledge of owning a timeshare, please go on the 60 minute TV show, and let every one in America and the world know what is happening with owning a timeshare, and be ware of getting fault information from timeshare developers and buying a timeshare. I am new at this, do not know much like you, and might not be able to explain the system as good as you can. If I could, I would tell every one, at least, I will feel good that I am doing something good!

Soon