Donating our timeshare

joycee31 wrote:

Wow and woe,,,get a grip and a hold of yourself. It was a joke that I was hoping no one took serious. Line up and take a deeeeep breath. Meanwhile, thanks for the tip about calling the resort. I shall do that tomorrow. Bye now.

Next time you ask a question here, be sure and add that the question is just a joke so we won't be bothered to answer you. There have been many serious people on these forums that have asked the same questions as you and we have answered them in the same manner as our advice above and it was appreciated by them (foreclosure and having one's credit rating ruined is no joking matter).

And, as Ken said above, don't bother calling the resort since they'll laugh (or hang up the phone in your face) at you asking them to take back your debt. Most resorts won't take deedbacks even if a loan is paid off (and that's no joke).

jayjay wrote:

joycee31 wrote:

Wow and woe,,,get a grip and a hold of yourself. It was a joke that I was hoping no one took serious. Line up and take a deeeeep breath. Meanwhile, thanks for the tip about calling the resort. I shall do that tomorrow. Bye now.

Next time you ask a question here, be sure and add that the question is just a joke so we won't be bothered to answer you. There have been many serious people on these forums that have asked the same questions as you and we have answered them in the same manner as our advice above and it was appreciated by them (foreclosure and having one's credit rating ruined is no joking matter).

And, as Ken said above, don't bother calling the resort since they'll laugh (or hang up the phone in your face) at you asking them to take back your debt. Most resorts won't take deedbacks even if a loan is paid off (and that's no joke).

Whatever !

There are several companies that will take your TS for a fee. If someone goes this route, they have to be sure the deed is being transferred and they are not just signing a Power of Attorney for the company to sell the TS. There have been situations where the owner is being billed for MFs since the company never re-sold the unit.

It's interesting that in the thread quoted above you "heard of people" donating to this unknown entity (whose web site you considerately provided) --- but in another thread this week in the "Timeshare Companies" forum, you refer to this entity as "we", thereby indicating that this entity is actually YOUR OWN outfit!

Further, if your advertised entity is actually a "charitable organization", why is your site [.com] (i.e., commercial) instead of [.org] (as most other non-profit organizations commonly identify themselves)?

Some open disclosure and considerably more "truth in advertising" would certainly seem to be in order here...

This is simply another postcard company that takes your timeshare for a huge fee (in the thousands) then puts it on Ebay for auction, however it's not necessarily out of your name (depending on the PCC) and you may continue to be billed the yearly maintenance fees. That group is not a donation charity.

Vanessa was promoting her own company here. Thanks for exposing the truth!

marty8084 wrote:

Vanessa was promoting her own company here. Thanks for exposing the truth!

My pleasure to help do so. The behavior of denigrating a long established and respectable non-profit organization was entirely inappropriate, particularly since her true (but hidden) intent was actually to slyly promote her own upfront fee, for-profit company.

all the messages up to now are from 07, anything from 2010? Anyone have a success story on donating and could they share it? I would love to donate a timeshare or two but don't have the foggiest where to begin. Char

charlenes59 wrote:

all the messages up to now are from 07, anything from 2010? Anyone have a success story on donating and could they share it? I would love to donate a timeshare or two but don't have the foggiest where to begin. Char

Donate For A Cause accepts only high end timeshare weeks or weeks that are in high demand with low supply .... if you own a mediocre week at a mediocre resort or an off season week then they won't take it .... and even if they take a week you still have to pay them a transfer fee.

jayjay wrote:

Donate For A Cause accepts only high end timeshare weeks or weeks that are in high demand with low supply .... if you own a mediocre week at a mediocre resort or an off season week then they won't take it .... and even if they take a week you still have to pay them a transfer fee.

DFAC will, however, charge closing costs PLUS an additional fee of somewhere between $1,200--$1,900, to accept a lower demand / lower value week which might take DFAC quite a while to part with. In either instance, there must be NO outstanding loans and ALL maintenance (or other) fees must be current.

The ONLY timeshares which DFAC will always summarily reject outright are weeks at "problem" facilities or companies. DFAC openly maintains a specific list of these particular "will always be rejected" entities right on the DFAC website.

I have a timeshare that I paid a lot of money for. Now the maintenance fees are exorbant and going higher. I can't even rent the darn thing because the timeshare association is renting them for almost 1/2 of what I'm paying in maintenance fees. The only way I see to get out of this- die and have my estate go into bankruptcy if that can be done. I don't think it is fair that my children and grandchildren, etc will have to keep paying these fees for eternity. However, what I'm reading on the internet now is that portions of the timeshare industry will "implode" in a number of years. That will solve our problem.

alfredc37 wrote:

I don't think it is fair that my children and grandchildren, etc will have to keep paying these fees for eternity. However, what I'm reading on the internet now is that portions of the timeshare industry will "implode" in a number of years.

2. I don't know what you are reading or where, but in my opinion there are VERY few portions of the timeshare industry in ANY danger at all of imploding or exploding, now or in the future. Some exceptions might be bankrupt operations (e.g., Celebrity) or badly or unethically managed operations (e.g.,Westgate) or weak "motel conversions" (e.g., Neptune, Fort Myers Beach, FL). Operations like these have actively dug their own deep holes with their very own shovels. However, independent, sold out facilities (i.e., those not still active in ever-plummeting developer sales) in most places will remain alive, well and reasonably healthy.

Maintenance fees, like everything else, will continue to increase at most facilities, but for those who bought resale, at reasonable prices, at "sold out" facilities (i.e., NOT directly from a developer still in "sales mode", paying absurdly huge money) those increases will be expected and absorbed and all will remain quite well indeed for a good long time to come.

This is just my own personal opinion, of course, but it is one based upon extensive experience with the timeshare industry for about 30 years now as an owner, a BOD member and a student of various and sundry different aspects of the industry overall.

alfredc37 wrote:

I don't think it is fair that my children and grandchildren, etc will have to keep paying these fees for eternity. However, what I'm reading on the internet now is that portions of the timeshare industry will "implode" in a number of years. That will solve our problem.

Your heirs do not have to accept ownership of your timeshare however the 'estate' is responsible for any fees relating to such.

Concerning implosion of the timeshare industry, I think it's already begun with many resorts going bankrupt due to owners not paying their maintenance fees.

From what I'm being told those timeshares directly on the beach, in very desirable places, etc are doing well, but for the bulk of them a lot of the people are defaulting and I'm having to come up with the extra because I still get some retirement income and the collection agency can get to my assets. I pay $1089.28/yr maintenance fees and hopefully this year there will not be a special assessment. The Homeowner's Association has all these empty rooms so they are trying to rent them out for $89/night. If I didn't have this albatross around my neck then I could rent in this place for a week for a lot less than I'm paying for the maintenance fees/year. Why in the heck would anybody in their right mind want to take these on! Believe me the internet is getting the word out that for the most part Timeshares are bad bad business. The cheaply made buildings are going to require more and more maintenance and upkeep. There has to be end. I don't see the silver lining. Yes,the "sky is falling"!

This weekend I filled out an online form to donate my Timeshare through "donateforacausenow.com. It is supposedly reputable. Yesterday I got a call from a rep. and he said I had a very desirable timeshare and he could easily sell it for @ $7000. I asked what is the bottom line. Well, he said "we have to clear the title" and Chicago Title can do that for only $599.00 and then all the paper work can go through after we sell the Timeshare and then you will easily get your $599.00 back. I asked him how they could sell it better than I could on TUG or RedBook. He said that it takes professionals that know how to get the ads out to the right people. Does anyone "smell a fish" here? Or am I unnecessarily pessimistic. This is supposedlly a reputable donation outfit. Are there any good ones out there? I really want to get rid of this stupid timeshare!

alfredc37 wrote:

Does anyone "smell a fish" here? Or am I unnecessarily pessimistic. This is supposedlly a reputable donation outfit.

If DFAC is waiving their customary fees (which generally approach about $2k) , then they must believe that they can easily sell your particular timeshare. Not likely for anyhwhere even remotely near $7k, but certainly for SOMETHING (on eBay, or elsewhere).

Yes, DFAC is legitimate, but IGNORE any "tax guidance" you might get from them, as any such info it is likely completely incorrect.

alfredc37 wrote:

This weekend I filled out an online form to donate my Timeshare through "donateforacausenow.com.

Is "donateforacausenow.com" the website for Donate For A Cause? This could be a sly impostor seeking to snag the unwary?

lancec13 wrote:

Is "donateforacausenow.com" the website for Donate For A Cause? This could be a sly impostor seeking to snag the unwary?

The correct URL for DFC is http://www.donateforacause.org

alfredc37 wrote:

From what I'm being told those timeshares directly on the beach, in very desirable places, etc are doing well, but for the bulk of them a lot of the people are defaulting and I'm having to come up with the extra because I still get some retirement income and the collection agency can get to my assets. I pay $1089.28/yr maintenance fees and hopefully this year there will not be a special assessment. The Homeowner's Association has all these empty rooms so they are trying to rent them out for $89/night. If I didn't have this albatross around my neck then I could rent in this place for a week for a lot less than I'm paying for the maintenance fees/year. Why in the heck would anybody in their right mind want to take these on! Believe me the internet is getting the word out that for the most part Timeshares are bad bad business. The cheaply made buildings are going to require more and more maintenance and upkeep. There has to be end. I don't see the silver lining. Yes,the "sky is falling"!

Exactly, however I don't see an end unless resorts come up with a better plan that suits their owners ..... something's got to be done to change the timeshare industry as it is now .... I would suggest lowering maintenance fees and cutting budgets to the bone or NO RESORTS (but the most desirable locations and time owned) will be left standing.

As far as developer sales .... it's tanked big time and the only people that would even consider buying from a developer are those that are totally clueless.

alfredc37 wrote:

Believe me the internet is getting the word out that for the most part Timeshares are bad bad business. The cheaply made buildings are going to require more and more maintenance and upkeep. There has to be end. I don't see the silver lining. Yes, the "sky is falling"!

In the timeshare world, there are few (if any) accurate "one size fits all" conclusions or observations to be made. The industry is just much too diverse to be so easily and casually summarized.

The Internet CAN be a valuable and helpful resource, but it is also a source of uninformed opinions, unsubstantiated conclusions, and "information" which is often just plain WRONG. One particular regular contributor to these RedWeek forums repeatedly demonstrates and proves that fact on a fairly regular basis...

It is certainly true that there are (some, not all) facilities of exceedingly poor quality in their original construction. There are others (some, not all) that although well built originally, now show perceptible signs of too much "deferred maintenance". There are lots of places and conditions to found at hundreds of places in between.

It is also true that in a "down" economy, some owners (some, not all) choose to (or, unfortunately, have to) default on some legal obligations (including timeshare fees, home mortgages, etc.). In the case of defaulting timeshare owners, other owners have to "pick up the slack" --- on this there can be no question and at some point can be truly problematic.

Based upon my own several decades of ownership and observation, I just don't personally believe (or see signs) that the industry as a whole is going to collapse, implode, explode or otherwise fall apart. Yes, some large timeshare companies are in big financial trouble. But, many small independents are in the best shape ever. There is a whole lot of room to be found in between. Personally, I think it has little to do with "beachfront value" (no argument there), but there are certainly lots and lots of healthy, viable timeshare facilities in many different inland locations which are alive, well and financially healthy. It all likely (imho) has a lot MORE to do with competent and fiscally responsible management, an attentive and owner-oriented BOD, and an owner base that WANTS the facility to survive and thrive.

Timeshare is a supremely lousy "financial investment", on that much I'm sure that EVERYONE can agree. Aside from buying a brand new car, I can think of no more profound example of a "depreciating asset". Timeshare ownership as an "investment" is a fool's errand, plain and simple. Some ownerships are literally worthless (except for their vacation "value" to the owner). It has always been so and it will forever be so.

I certainly don't know or have (or claim to know or have) all the answers here. I'm merely weighing in with a personal viewpoint and perspective, based upon my own active participation in the timeshare world as an owner and occasional BOD member for several decades now. Your opinion (and / or mileage) may vary....