Getting rid of a time share.

Time Shares are God's proof ....that there is a sucker born every minute. I know.....because I was one of those SUCKERS! Stay away from Westgate or any time-share company.

glenk29 wrote:

Time Shares are God's proof ....that there is a sucker born every minute. I know.....because I was one of those SUCKERS! Stay away from Westgate or any time-share company.

You're a sucker if you purchase from the developer (through their hi-pressure, unethical sales tactics) and don't exercise your right of rescission.

True, I hear that Westgate is not the greatest or most favorably spoken of time share company.

However, not all timeshares and purchases are bad. If you buy resale, then you can usually get a good deal. Also, it helps to do a lot of research before you buy. And when I say research, I don't mean a 2-hour biased sales presentation.

Buyers must do some soul-searching and think 10 or more years down the road. Ask yourself "Will we be able to travel to this resort 3 out of every 5 years (others may suggest every other year)?" "Will we be able to afford to come here that often?" "What will I do when a maintenance fee comes each year around Christmas?"

Most people who have done their research have concluded that buying such a timeshare is a good investment for their future vacation plans. So timesharing is not all that bad. You just have to think long and hard about the long-term finances and benefits.

Yes, understand what you are getting and see how that squares with your ability to travel and to pay MF increases over a period of years. Don't buy tickets to the Superbowl, for example, if you don't like crowds. MD

has anyone had any dealings with transfer america

williamb677 wrote:

has anyone had any dealings with transfer america

Looking at their website it looks like they're similar to postacard companies where you pay them big bucks to (supposedly) take your timeshare off your hands.

williamb677 wrote:

has anyone had any dealings with transfer america

Different company name, same "big bucks upfront" game...

Has anyone heard of "true transfers"? we recently had an unsolicited call from them they sound like one of those companies that will take your timeshare for a fee, the only thing that sounded different is that they charge three of my current maintenance fees but only AFTER transfer is completed, my timeshare is in Mexico and since I live here 6-8 months of the year, owning it and paying maintenance fees doesn't make any sense... But I also have been burned by the upfront fee scam! Any advice will be greatly appreciated

NEVER will I use redweek to sell my timeshares again.....all of you can not see outside of your USA.....I wasted my money advertising it here...you are all to biased.............I just had to read some coments who where made on to my forums messages.......

richardv131 wrote:

Has anyone heard of "true transfers"? we recently had an unsolicited call from them they sound like one of those companies that will take your timeshare for a fee, the only thing that sounded different is that they charge three of my current maintenance fees but only AFTER transfer is completed, my timeshare is in Mexico and since I live here 6-8 months of the year, owning it and paying maintenance fees doesn't make any sense... But I also have been burned by the upfront fee scam! Any advice will be greatly appreciated

Your instincts are probably already telling you (and likely correctly) that this is likely just another unknown PostCard Company or scammer, which will charge you thousands of dollars to MAYBE "take your timeshare off your hands".

If your timeshare is in Mexico, then presumably you don't actually "own" it in the first place; far more likely is that you have a right to use (RTU) "membership" of some sort, with a specifically identified contract expiration date.

There might be little differences and nuances in the way they play the game , but the important rule to remember remains the same --- DON'T pay ANYONE ANY money upfront. If you do so, you are plainly just volunteering to get burned AGAIN.

Haven't heard of 'True Transfers', but I just recently donated my timeshare to 'Donate For a Cause'. Generally, you don't have to pay any money, but bec' mine wasn't selling, you can go the 'guaranteed way' and pay I believe $1895 which was the closing fees. They evidently have sources that will purchase the timeshares for minimal costs provided they don't have to pay the closing fees. Whatever they buy the timeshare for - a portion of that amount is donated to the charities. I did a lot of research up front before going this route. Contacted IRS, The charitable agencies they donate to (i.e. Kidney Foundation, Cancer Society, American Heart Assoc). Wanted to make sure from IRS they were legit and I could claim any monies that were used for closing costs and value of the property. I was able write these costs off on my income tax, which did help (already recd my refund back). Confirmed the deed was transferred out of our name. We've had the timeshare over 10 years. It was in Maui and the fees had gone up too high.

I did try donating it and it didn't qualify... I never really asked why, but it sounded to me as if they wanted to secure a buyer before taking it, I did recieved an email this morning explaining how "true transfers" works and what they claim over and over is that they do not want the money (3 maintenance fees) upfront, only when the transfer is complete also I do have to pay transfer fees to the resort, but they assure over and over that they will only bill me once they have taken over the timeshare, i will try to get more info from them, and proceed with caution. Thank you all for your input it's greatly apretiated

patw170 wrote:

....I just recently donated my timeshare to 'Donate For a Cause'. Generally, you don't have to pay any money, but bec' mine wasn't selling, you can go the 'guaranteed way' and pay I believe $1895 which was the closing fees....

They evidently have sources that will purchase the timeshares for minimal costs provided they don't have to pay the closing fees....

Actually, MOST timeshares offered to DFAC these days will require payment of those same hefty fees which you paid (...if even accepted for donation at all). This is merely a reflection of the current very weak resale market. Only for a truly "stellar" week, guaranteed to sell quickly and for serious money, will DFAC waive those fees. The assessment of marketability is actually made by Resort Closings, Inc, which handles all DFAC closings (in point of fact, the very same people own and run BOTH entities, which is why "closing costs" are of relatively little concern to DFAC).

As far as the DFAC "sources that will purchase the timeshares" , I believe that most of the weeks accepted by DFAC for donation can be found relatively soon thereafter as "no reserve" eBay auction listings, placed under any one of several different names (e.g., vaca4life is one that comes to mind --- there a few others as well).

To their credit, DFAC DOES place the accepted donation into their own name (unlike many so-called PostCard Companies, which often fail to do so). The only practice that is questionable with DFAC is that they have previously posted tax advice which has been openly and energetically contested by knowledgeable others (CPA's, etc. --- I certainly don't claim to be one of them). Because of this reportedly questionable tax advice, some of those same folks have expressed their doubts and concerns regarding whether "appraisals" provided by DFAC affiliates would / can / will successfully withstand potential scrutiny by the IRS, if challenged later by the IRS. Again, I do not claim any personal knowledge in that arena; I am merely repeating doubts expresssed by far more knowledgeable others...

Just an update, we started the transfer process since yesterday... The resort is taking care of everything we just need to send notarized letters and the assignment of contract signed by both parties haven't paid anything, they assured me(and it's in the agreement) that I will pay them three current maintenance fees once the transfer is completed, The resort has told it will take them 4- 6 weeks to complete it.

They seem ok but the minute they try to charge me anything before the transfer is finished I will cancel the whole thing, but so far so good.

richardv131 wrote:

Has anyone heard of "true transfers"? we recently had an unsolicited call from them they sound like one of those companies that will take your timeshare for a fee, the only thing that sounded different is that they charge three of my current maintenance fees but only AFTER transfer is completed, my timeshare is in Mexico and since I live here 6-8 months of the year, owning it and paying maintenance fees doesn't make any sense... But I also have been burned by the upfront fee scam! Any advice will be greatly appreciated

then have to

Oh, dear. Now we are hearing that, not only should we avoid companies with "up front fees" but we should be suspicious of companies without any! That does not leave us many options! MD

Where IS your timeshare jacobr? There are many lovely timeshares overseas, but the cost of getting there on a regular basis would make it unlikely for most of us to buy that far from home. Some potential buyers might also be baffled by money exchanges and different purchase and ownership laws. At least you would not have paid a lot to advertise on RedWeek. It was probably worth a try. MD

I should've mentioned that I have paid the transfer fee to the resort upfront (150usd), I have to pay True transfers 3 maintenance fees once it's all done, so as long as I don't have to give them any c/c numbers untill it's transferd I'm happy I'll keep you all informed!

Thanks

Has anyone had business or contact with TimeshareoptionsLLC out of Texas. They will get you out of your timeshare for $1250.

jayjay wrote:

If you merely want to get rid of your timeshare the charitable sites below might accept it. However, all maintenance fees must be paid up to date and there should be no liens (if you financed it) on the property:

http://www.timesharetrap.com/charities_that_accept_timeshare_donations.html

redbird wrote:

How does one get rid of a timeshare that we no longer use and can't sell for just one maintainace fee or less. We just attended a presentation with a company called Timeshare Relief Inc. Has anyone had any experiance with that Co. They wanted $3500 for one week and $4200 for two weeks to end all obligations to the timeshare that we own. Than they said that we could write off all the loss from purchase price and the amount they charged to get rid of the timeshare aginst capital gaines and never have to pay another maintaince fee again. Our timeshare is now going to charge an extra assessment plus maintaince to the total of just under $1,000 per week on a timeshare that we could not sell for $500. Also it is available for extra weeks on RCI for under $400. Need Ideas

brucer69 wrote:

jayjay wrote:

If you merely want to get rid of your timeshare the charitable sites below might accept it. However, all maintenance fees must be paid up to date and there should be no liens (if you financed it) on the property:

http://www.timesharetrap.com/charities_that_accept_timeshare_donations.html

redbird wrote:

How does one get rid of a timeshare that we no longer use and can't sell for just one maintainace fee or less. We just attended a presentation with a company called Timeshare Relief Inc. Has anyone had any experiance with that Co. They wanted $3500 for one week and $4200 for two weeks to end all obligations to the timeshare that we own. Than they said that we could write off all the loss from purchase price and the amount they charged to get rid of the timeshare aginst capital gaines and never have to pay another maintaince fee again. Our timeshare is now going to charge an extra assessment plus maintaince to the total of just under $1,000 per week on a timeshare that we could not sell for $500. Also it is available for extra weeks on RCI for under $400. Need Ideas

Redbird It's hard not to reply to someone who asks for advise or ideas, when I think I can help.. worth a try, you can always say no..