Getting rid of a time share.

also their has to be some kind of escrow. If you pay someone, (scam) how do you know if they will take your money and not relieve you of your Commitment to your HOA ? I was told someone wanted my unit (scam) for a fee (HA!) never happen. Just my two cents. I am on a HOA Timeshare board.

I just posted a message today. We had the same problem and I read an article in Time Sharing Today that suggested just calling your time share to see if they would take it back. We called the two time shares and they both agreed to take them back with just a quit clain deed. The cost was minimal and we are now free of them

Calling the Time Share company is an excellent idea, but may not work out. It will depend on how badly the time share company wants the property. If they have to come after you, they will have legal expenses, and they may rather just let you pay the $500 or so that it cost to transfer the title back to then with a quit claim deed.

Another option is the time share relief type companies - but you need the kind that is actually buying the unit from you. There should be a sales contract where you pay them a fee at closing to take possession of the week - along with responsibility for all fees and expenses. This should be closed by an independent time share closing company - not by the guy offering to buy the property. Contract should clearly state that they are assuming all costs and expenses existing and future. Expect to pay added costs if you are behind more than this years fees.

The last possibility is one you may have tried - but if you only owe this years fees, and not past years fees - you may be able to sell the time share for a small cost on eBay. Set the price at $1 and offer to pay the closing costs. You can contract the closing company to use - so you know that they are working for you. Then stipulate in the sale that they assume all costs of fees and taxes - along with any unused usage for this year. You should be able to get out from under the unit for about $500 to $700 dollars in fees to eBay and the time share company. And you will have proof that you no longer own the unit.

Look at the website: timesharesbegonellc.com

I would like to share my experience with you all of how i got rid of my timeshare. After dealing with many companies and losing plenty of money, i eventually found a company that was very different to them all out there. A proper internet marketing company that specializes in timeshare. After 3 months i was introduced to 2 prospects that were interested in my timeshare, and i managed to strike a deal directly with them. It was plain sailing and no middlemen involved. Fantastic. All i paid was a one off fee to cover advertising and they were very helpful and friendly. They did what they said which was market my timeshare worldwide. Thank the lord i found you.

janetk158 wrote:

I would like to share my experience with you all of how i got rid of my timeshare. After dealing with many companies and losing plenty of money, i eventually found a company that was very different to them all out there. A proper internet marketing company that specializes in timeshare. After 3 months i was introduced to 2 prospects that were interested in my timeshare, and i managed to strike a deal directly with them. It was plain sailing and no middlemen involved. Fantastic. All i paid was a one off fee to cover advertising and they were very helpful and friendly. They did what they said which was market my timeshare worldwide. Thank the lord i found you.

I smell a SHILL !!!!

I had a call today from Timeshares by Owner, which I had heard of and thought was somewhat like RedWeek. Maybe not. They appear to do much more marketing and claim to have regular renters whom they work with, many from overseas. If you want to rent with them on a regular basis and possibly sell at some point, they have a Lifetime agreement for a one time $1,198. Not cheap. Presumably, they will be sending me a load of background material on the company which, they say, was commended by the Attny General of Florida who has gone after many crooked operators in this field. Has anyone had experience renting from or through TBO? They claim that their purpose is actually to sell timeshares which they finance at a profit. They do rentals to get possible customers acquainted with particular resorts and timesharing in general in the expectation that some will buy. No, I have not signed up! However, hope springs eternal! Actual experience, anyone? MD

adahiscout wrote:

I had a call today from Timeshares by Owner, which I had heard of and thought was somewhat like RedWeek. Maybe not. They appear to do much more marketing and claim to have regular renters whom they work with, many from overseas. If you want to rent with them on a regular basis and possibly sell at some point, they have a Lifetime agreement for a one time $1,198. Not cheap. Presumably, they will be sending me a load of background material on the company which, they say, was commended by the Attny General of Florida who has gone after many crooked operators in this field. Has anyone had experience renting from or through TBO? They claim that their purpose is actually to sell timeshares which they finance at a profit. They do rentals to get possible customers acquainted with particular resorts and timesharing in general in the expectation that some will buy. No, I have not signed up! However, hope springs eternal! Actual experience, anyone? MD

That spiel is a load of BS .... how did they get your name and phone number to cold call you out of the blue with their lies? That should have raised a red flag with you. All they want is the $1,198 then you're history to them.

I'm really surprised at you, a longtime Redweek Forum reader and poster, for falling for this BS. Also, they don't finance anything .... another of their long list of lies.

Maybe this will open your eyes (copy and paste URL):

http://www.myfloridalegal.com/lit_ec.nsf/timeshares/484B55E6DE35E16C85257728006B737B

http://www.wptv.com/dpp/news/region_s_palm_beach_county/boca_raton/boca-raton-company-is-a-target-of-florida-attorney-general-in-timeshare-resale-scam-probes

adahiscout wrote:

, they have a Lifetime agreement for a one time $1,198. MD

That's one of many euphemisms for "large upfront fee".

So I will repeat this rule that cannot be overstated: Never, ever pay anyone a large, upfront fee (regardless of how they label it) to sell, rent out, or market your timeshare.

lancec13 wrote:

adahiscout wrote:

, they have a Lifetime agreement for a one time $1,198. MD

That's one of many euphemisms for "large upfront fee".

So I will repeat this rule that cannot be overstated: Never, ever pay anyone a large, upfront fee (regardless of how they label it) to sell, rent out, or market your timeshare.

I have to agree 100% with this comment. NEVER pay upfront fees. The only time you should be paying anything, is if it is to an escrow company to cover any costs you have agreed to pay in selling the time share. Such as if you agree to pay for the closing on a sale that is low enough in price to not cover the closing costs and transfer fees. Then and ONLY then you should send the funds directly to the escrow service for the expected balance due at closing.

And one last point - you MUST check out the closing company if you did not contract them yourself. There are a lot of scams out there where the closing company is actually owned by the buyer. Once you send the funds in - they disappear - and you are out the money - maybe even out the time share if they transfer the deed and then keep the money owed you. Always use an independent escrow.

Re-read, Jay-jay. I did not give them a cent or promise to, but I would have liked to hear feed-back about the specific company from someone who dealt with them even as a renter. How did they get my phone number? Golly, doesn't everybody have it? Surely seems like they do! MD

Good reference material on the Florida Attny Gen site. Note that they say:

"Active Public Consumer-Related Investigation The case file cited below relates to a civil -- not a criminal -- investigation. The existence of an investigation does not constitute proof of any violation of law. "

also "Some resale companies charge up-front or advance fees for resale activities. The legality of these fees depends on your state law. Check your state law before paying any advance fees. You may wish to consult with a state government agency such as the Department of Real Estate, Real Estate Commission or the Bureau of Timesharing to determine the legality of such fees in your state.  A list of such agencies is available at www.arello.com."

and "Be aware that some resale companies require up-front fees which are not refundable.  Some of these fees may legitimately be for advertising your timeshare—ranging from as little as $25 to hundreds of dollars."

It should be obvious that nobody can flatly guarantee to sell or rent anything. What stinks is when they overpromise, overcharge, and then make no genuine effort. MD

mccabin wrote:

ken1193 wrote:

gerrymanning wrote:

Do a google search on timesharesbegone and you will find the llc, which is in Alvaton, Kentucky (no phone number, web site, etc.) If you check domain registrations you will find that the names timesharesbegone.com timesharesbegone.info are both taken, but have moved around from host to host a lot and cannot be accessed directly at the present time. I would guess that this particular scam has been take "off-line" at least for the present time.

Ultimately, this alleged "transfer to a mystery llc" may never be acknowledged or accepted by the resort. Moreover, the transfer deed itself, if challenged in court, could later be determined to be invalid and void if this mystery LLC was created solely for the purpose of defrauding facilities by creating a phony dumping ground for unwanted timeshares. In short, "colvin" should not consider this matter "closed". It may very well resurface later and he could very well later be determined to STILL be the lawful owner of record --- with $985 less in his bank account, and maintenance fees unpaid and accruing late fees and interest. We shall see...

So, if person did want to sell their timeshare who would they turn to for help? After reading all these replies who can we trust to help us? If we list it on redweek, who do we get to help us complete the transaction? It's all scary.....

I would recomend you first try to give the time share back to the actual resort. You will have to pay for closing, transfer recording, and any back fees or mortgage, but you would then be free of the unit.

Another possible way is to list on eBay or $1. You can find title closing companies which will take care of escrow and the actual transfer. Most will even provide a generic sales contract for you to use to spell out the terms. Always include that the buyer will assume all cost as of the date of closing.

The last, if you are current on your fees and owe no mortgage, is to use one of the charity sites, like ones on eBay.

I have purchased a total of 7 timeshare units via eBay over the last 4 years, most from people desparate to get out from under the recurring payments. There are others like me out there, who will purchase your unit, if it fits what they are looking for, and is at very little up front cost. I have paid as little as $100 for a 3Br annual, and as much as $1200 for the same type of unit at the same resort, but in that case, the full $1200 was to reimberse that years maintenance fees, and the seller paid all other costs. What always ammuses me is those who think they will sell a $40,000 developers price time share at $10K - $20K. Often you see the exact same unit types selling for $1 on the same sites. Your goal should be fredom from the obligation, not profit, or even partial recoup of your investment. Sorry, but that is just how it is.

I would note - I am always looking for properties that are in the Club Navigo time share points system. If you have such a unit that you need to unload, and understand the reality of todays timeshare market, drop me a note. No promises that I will buy or take it off your hands, but I will certainly take a look.

What is with all the deleted messages?

stevem532 wrote:

What is with all the deleted messages?

Probably posts by scam charities trying to advertise on Redweek.

Had an interesting presentation by TravelRCI.com. They will transfer timeshares in exchange for purchasing what is essentially some sort of club membership. The annual fee is $199 and the transfer price is variable. (In my case they valued my points at $11000 reducing the cost of the package to a few thousand). It was more than I wanted to pay without getting additional info on the company. So I passed. But it seemed to be at least a little reasonable and probably worth the price in order to get out of maintenance fees. Anyone know anything about this company?

Who pays for the closing costs? The seller or the buyer? I'm thinking of posting my listing on RedWeek and using their closing company....

suzannes77 wrote:

Who pays for the closing costs? The seller or the buyer? I'm thinking of posting my listing on RedWeek and using their closing company....

Traditionally, it's been the buyer who pays the closing costs. However, recently, because many people are desperately trying to unload their timeshares, they've been offering to pay the closing costs as an incentive.

Remember, there are way more sellers than buyers right now so look at it this way. If I were in the market to buy a timeshare like yours and I saw half a dozen other ads for a similar timeshare, what would you offer to make me choose yours over the others? If others are offering to pay the costs while you insist that the buyer for your timeshare pay the closing costs, which do you think I would choose?

In your ad, it would be best if you made it clear who will be responsible for the closing costs as well as resort transfer fee (if there is one).