Is there an honest Timeshare transfer company....no upfront fees?

ebrahimp4 wrote:

I have completely paid off. Now I have to pay maintenance fee for rest of my life. How can I get rid of this? PLEASE HELP.

You have not identified whatever it is that you own, but be advised that Wyndham, Diamond and Westgate all currently have "deedback" programs where you can surrender your ownership *IF* your account is fully current, with no unpaid fees outstanding. You would need to contact the corporate entity directly to determine your eligibility and for further instructions. Wyndham charges no fee for deedbacks. DRI and Westgate both charge significant fees. Diamond will reportedly only accept "deedback" of purchases which were originally made directly from DRI; i.e., not those purchased in the secondary (resale) market.

If whatever you own is at a "independent" resort (i.e., a resort which is not affiliated with any corporate "chain"), you need to contact your resort HOA to ask if they will accept a deedback of your ownership. Many independent resorts are very reluctant to accept deedbacks, but you can't and won't know until and unless you overtly ask.

My suggestions above assume that you could not otherwise sell (or even give away for free) whatever it is that you own. If that is the case, "deedback" is really your only realistic option, unless you are willing to just simply stop paying, walk away and face foreclosure. Good luck.

It is a TimeShare in a Resort in Mexico. When you say "deedback," does that mean I loose all the money I paid???

ebrahimp4 wrote:

It is a TimeShare in a Resort in Mexico. When you say "deedback," does that mean I loose all the money I paid???

There are no timeshare "deedbacks" in Mexico because there are no timeshare "deeds" there in the first place. With Mexican timeshares, you don't actually own anything at all, you merely have a "right to use" contract (no deed).

But to answer your question, whether it's a deeded ownership or a right to use contract and whether it's here in the U.S. or south of the border in Mexico, the answer is yes --- you will forfeit any and all money previously paid. You are not going to get any money back under any circumstances.

ebrahimp4 wrote:

It is a TimeShare in a Resort in Mexico. When you say "deedback," does that mean I loose all the money I paid???

You will lose all the money you paid because it is worth zero dollars on the resale market. So that applies to whether you stop paying or give it to someone else. But at least you will not be stuck paying maintenance fees for the rest of your life as you so concernedly expressed in a previous post.

What will happen if I stop to pay maintenance fee? Are they going to sent me to collection? Will I be involved with court?

ebrahimp4 wrote:

What will happen if I stop to pay maintenance fee? Are they going to sent me to collection? Will I be involved with court?

Hi Ebrahim, What Resort do you own at? How many bedrooms/bathrooms? Is it a fixed week, floating week or points? There are a couple Mexican timeshares that you will find on the resale market.

Is it possible to just " give back", walk away, or stop paying? I want out of mine and would gladly give it to someone who wants to take over payments.

rhondar175 wrote:

Is it possible to just " give back", walk away, or stop paying? I want out of mine and would gladly give it to someone who wants to take over payments.

Don't shoot the messenger, but here are the straightforward and accurate facts, answering your questions in the order you have posed them above:

1. If you took out a loan, the timeshare is not yet yours to "give back" until / unless that loan is fully paid off. You may not even be able to "give it back" then, depending on the developer. Wyndham, Westgate and Diamond all have "deedback" programs, but only for fully paid off ownerships and with no outstanding maintenance fee bills.

2. Timeshare loans cannot just be "transferred" to someone else, but that doesn't really matter, since no one on planet Earth would be interested in taking over someone else's debt obligation for a timeshare anyhow, particularly when there are always plenty of inexpensive (even free) timeshares available.

3. Yes, you can certainly choose to "stop paying" and "walk away" anytime you wish. Just understand very clearly before making that decision that there will be negative credit report consequences, which will remain a matter of record on your credit report for 7 years after you default on the loan. This consequence may be of some concern if you have plans to apply for other loans (or a home mortgage) anytime during that time period. Lenders do not really get a warm and fuzzy feeling when a loan applicant has already defaulted on a previous loan. By the same token, you should ask yourself if it makes sense to keep pouring money into something which may already be of little or no resale value, even if / when fully paid off. If you don't intend to use and enjoy what you signed up for via a legally binding contract, then you have some difficult personal decisions to make. No one "needs" a timeshare; it's a luxury --- and perhaps a luxury that you cannot afford.

rhondar175 wrote:

Is it possible to just " give back", walk away, or stop paying? I want out of mine and would gladly give it to someone who wants to take over payments.

In addition to the advice that Ken C. gave you and considering that the topic of this thread is "Is there an honest Timeshare transfer company....no upfront fees?", I will offer this piece of advice that is usually given to people in situations like yours. Do not go seeking the services or "help" of these companies, law firms, or charities with names like exit, relief, or cancel, etc., that promise to get you out of your timeshare, especially if you still have money owing on it. Many are scams. Others use illegal or questionable means to get you out of your contract.

Villa Del Palmar Cancun. It is point-based. I get 5,500 points every year. That allows me to have one or two or three bedrooms depending on what month of the year. Resale market? You said this type of timeshare has no value at all.

ebrahimp4 wrote:

Villa Del Palmar Cancun. It is point-based. I get 5,500 points every year. That allows me to have one or two or three bedrooms depending on what month of the year. Resale market? You said this type of timeshare has no value at all.

Most in Mexico have no resale value. You can check E-Bay for completed listings of similar units at that resort to see what they have sold for.

I'm not too sure about how the points system works or how much you have to pay in maintenance fees each year. That ration usually affects the resale value. You can try listing your unit for resale here on RedWeek. Just be realistic about what you can expect to receive for the sale of your unit. Yes, again, many in Mexico are worth about zero dollars.

I own a 1 bedroom master suite at grand lodge peak 7. Breckenridge. Fall/spring odd years. Uou can use interval and use any season bank weeks etc. You can use points to use different season also. I want to get rid of it. We dont use it and I was considering an exit company but dont want to get burnned. Is there a way out? Angela

Contact the resort and ask them to take it back . If they agree it is quick and inexpensive , They may want you to pay the next years maintenance fees to give them time to find another owner . I got rid of two timeshares in 2011 that way .

We own a Hyatt timeshare (in Lake Tahoe). There is no loan on it. But the maintenance fees just keep going up and up. I would love to deed it back. Does anyone know if Hyatt works with owners wanting to give theirs back?

Call them . Make sure you get a hold of the person that handles the deeds . I got rid of two timeshares in 2011 that way . I was persistent and I told them that in no other words that I was getting them out of my name with or without their assistance and it was in their best interest to work with me . I let them know that once I found a new owner I was not responsible if they defaulted on their future maintenance fees and assessments .

I am currently stuck with a timeshare purchased through Occidental Allegro Cozumel about a year ago. Now currently experiencing a divorce and want/need to get rid of this thing as circumstances have changed. Seemed a great idea at the time but not so much now. Question I have is how realistic is it to list a 1 bedroom studio First Club Membership thru the Redweek website? I plan on using the Full Service Resale option considering i still owe on the membership but I was wondering if sales actually occur using the website? Has anyone reading these postings been successful with a Redweek Full Service resale? I mean even if I loose some, still worth it to me. Just unsure exactly how to deal with it but I will follow the previous advise and reach out to the HOA and explain my situation to see if there is anything they can do to assist. Part of my contract agreement states I must notify them of a planned sell anyway so I might ask them about any ways I could get myself out of the situation. Part of my problem is that we are both on the contract and I cannot remove my now ex-wife until the balance is paid in full. I would not consider not payment the monthly dues and risk ruining her credit or mine as the amount owed isn't worth that drastic outcome to me personally. Again, curious about success resale stories thru Redweek if any. I'll let everyone know what i hear back from the resort and anyone else I contact. Thanks for the good advise, one way or another I'm getting out of this thing.

If anyone has had success with such a company please do let us know as all seem to be scammers including Mexican Timeshare Soluctions whom I believe to be reliable at first. Thanks

You can find the RedWeek historical resale data for your resort on this page: Occidental Allegro Cozumel Historical Resales (https://www.redweek.com/whats-my-timeshare-worth/P332-occidental-allegro-cozumel/sale-historical)

You cannot sell or transfer your Allegro Vacation Club contract if you still owe money on it.

Thank you - considering the research I have done and the small amount I owe (about 5K), i've determined it might simply be best to keep it and use the darn thing at least until it is paid off. But thank you all for the responses, I had no idea it was this difficult to sell these timeshares - total lesson learned.