How to get rid of a timeshare you no longer want ....

tonik22 wrote:

Sorry you are having problems.

I just bougt two timeshares on e-bay and I believe I received a good deal. One I bought at the Resort at Cocoa beach for $900, 2 bedroom 2 baths (float red week) and I know I will use this one. It is close to port canaveral so I can use it on the way to a cruise, go to Disney or since I am in real estate, I can even use it for a give away for a drawing on a open hose or a realtors luncheon to draw realtors to high end homes. I bought another one (Driftfoot Inn) for a $1. and it is also worth it as I can trade it for other vacations. My total maintenance on both resorts is $1,200 and I usually spend at least $2,000 for accomodations in a year. My broker travels all around the world on his timeshares by trading with RCI and he told me to make sure to get one right on the beach as it will trade for 4 or 5 star resorts just about anywhere.

If I were you, I would rent it on this site or e-bay like the other poster said, and try to sell it for cheap if you can't pay the maintenance fee or don't want to deal with renting it.

After I go to both of my timeshares this year, I would love to trade through RCI or directly with others. I know that you just need to learn how to trade yours so that you can get back the money at least to cover maintenance.

I wanted one in Orlando but didn't go for it because it seemed like there was a lot of inventory there.

Good luck!

tonik, congratulations on your new purchases. You did exactly the right thing by knowing exactly what you wanted and chose resorts that you will use at least 50% of the time.

You were also wise not to buy in Orlando as most any resort you own can trade into there.

The Resort On Cocoa Beach is a gold crown resort and, from the wishbook, looks very nice. We rode over to Cocoa Beach when we were in Orlando in December and ate lunch at the pier restaurant there. And, you are correct, it is very close to Port Canaveral where several cruise ships dock.

The Driftwood Inn is a hospitality rated resort. I believe it's charm is it's quaintness and, of course, it's ocean front location.

Again, congratulations on doing your homework before purchasing. Everyone should be so diligent

alfredn1 wrote:

annt45 wrote:

To alfredn1 and your criticism of those who are "lazy and or intimidated by the process". I think your comments are rude since you do not know people's situations. Maybe your a timeshare tycoon or connoisseur. If I had known about this site and a couple others I've found lately that may not have been around when I needed them I would have tried to sell instead of donate but I got tired of the sell your timeshare scams which I did not fall for but I paid alot of money in ads and only got 2 calls. I'm done with the timeshare crap and God help anyone who approaches me at the beach to go to a timeshare showing/meeting, whatever. Hope you make many more $$$ in whatever it is you do in your timeshare world.

I want to apologize to the timeshare owners who did actually attempt to sell/rent their timeshares unsucessfully,and took offense to my description of the other owners that made NO EFFORT to relieve themselves of their burden.I feel that the persons that annually write maintenance fee checks,yet KNOW that they can't take the time to travel to the resort,are most likely throwing away $$$$ in other every day expenses, and are in NEED OF financial counseling! And,NO,I do not make any significant $$$ in renting my excess weeks.I mean,if I can realize $50-$100 profit above the maintenance fees,that's a GOOD return on my time invested in sorting/corresponding the Email inquiries.

Comment above-"I feel that the persons that annually write maintenance fee checks,yet KNOW that they can't take the time to travel to the resort,are most likely throwing away $$$$ in other every day expenses, and are in NEED OF financial counseling! " Are you kidding me???!!!! I have a timeshare at Bluebeards Castle in St Thomas USVI that I have been trying to sell for the last 3 years!!! I have tried Ebay, listed it on every state on craigs list, posted it on every timeshare site that I could find, put an add in the local paper and have yet to be able to sell it. Not to mention all these sites that I list it on I have to pay. More money going out on this timeshare! There are no charities that will accept Bluebeards including the one listed above! The only other option I have is to foreclose on it but I cant even do that cause its paid off! have not used it in the last 4 years due to one year getting married, the next year we moved to a new town, the next starting a new job that I could not take time off, and the next year we had to take in my grandmother, so who are you to tell me that "I NEED FINANCIAL COUNSELING"????? I have tried to rent it and still no bites! This timeshare has several lawsuits going on and half the rooms are closed due to mold so who would want to stay there. I have even contacted an attorney to see if there is a legal way to get out of the deed. NOPE!!! So I am stuck with a deeded property with a main. fee of 1,050.00 a year. Not to mention the cheapest airline tickets that I could find are around 700.00 pp. We took our honeymoon to mexico for a week( at a 4 star resort on the beach, which Bluebears is not even on the beach), w/airlines, all inclusive to ten different restaurants, and had a spa package included for 1,800 total for both of us! So what Im saying is it is still cheaper for us not to use the timeshare since the whole trip cost the same of what just our airline tickets would be, not to mention we still have to buy food and drinks for a week!!! When I originally purchased this timeshare the maint. fee was 400.00 so in 6 years its gone up almost 700.00!!! How dare you accuse people that they are throwing away money in every day expenses when you have no idea of peoples situations!!!!

Ask an Expert

http://www.freewebs.com/timeshareexpert/index.htm

Best way to get rid of a timeshare is to go to ebay and put it on auction. Ask for .01 as starting bid. List all fees that are due and state that the new owner will be responsible for them. You might get a bidder or find other options for getting rid of it.

People like to suggest donations, I would tell my clients as a tax consultant not to, unless they did everything they could to first sell it. I know it was suppose to be a vacation spot, however every one of those sales presentation claimed that you where buying or making an investment and it would be very easy to claim you purchased the timeshare as more of an investment than personal use. So you can take a long term investment loss on every dollar you lose plus and cost associated with selling your timeshare. Some have already spent a lot of fees for owning it, all tax deductible if you word it right.

Donations, you get to right of the amount of the value of the item at the time it was donated. You will need to have enough deductions to do a schedule A and not go over your limits to use any deduction. You will also need to pay all the fees and taxes up to date prior to donation.

Best to try to sell it on ebay at least once.

andria wrote:

jayjay wrote:

andria wrote:

DONATION is a great way to create a win win situation. You get a tax deduction and the charity makes some money to help thier cause. With the resale market being so low it is hard to sale a timeshare for anywhere close to the original cost.... Check out www.TREJESTO.com to donate your timeshare... you will be glad you did. :-)

andria, does TREJESTO.com take any and all timeshares or are they selective in what they will take. Looks to be a very good cause ... thanks.

**********************************************************

Thanks for your question, it is a WONDERFUL Cause. I have been there many times and know that the money is used to to help these wonderful animals who are unable to help themselves.

We try to take as many timeshares as we can. We are way more flexible than other charities and have many sources which we offer the timeshare to. The limitations that we have are if it is in an area we are unable to close/transfer (ex. bahamas) or if the usage is low season. There are some as you well know that you cannot give away. :-)

Remember that our mission is to help the charity not hinder it.

Thanks again -- Andria www.trejesto.com

I have a even year usage vacation ownership in Orlando at Bonnet Creek Resort, its a beautiful resort and o n Disney but it's killing us financially and with a baby on the way i am afraid if we don't get out from under this thing we will default on the payments soon. Any info on how to sell this thing or rent it out until we can would be greatly appreciated.

roslynb8 wrote:

I have a even year usage vacation ownership in Orlando at Bonnet Creek Resort, its a beautiful resort and o n Disney but it's killing us financially and with a baby on the way i am afraid if we don't get out from under this thing we will default on the payments soon. Any info on how to sell this thing or rent it out until we can would be greatly appreciated.

It's almost impossible to sell a timeshare with a loan still attached to it.

Depending on the season you own, you could probably rent it as Bonnet Creek is very popular and adjoins Disney.

My advice would be to look at the rentals here for Bonnet Creek and then place your rental ad with a lower price than other rental ads for your time period owned.

roslynb8 wrote:

I have a even year usage vacation ownership in Orlando at Bonnet Creek Resort, its a beautiful resort and o n Disney but it's killing us financially and with a baby on the way i am afraid if we don't get out from under this thing we will default on the payments soon. Any info on how to sell this thing or rent it out until we can would be greatly appreciated.

warrenf17 wrote:

Best way to get rid of a timeshare is to go to ebay and put it on auction. Ask for .01 as starting bid. List all fees that are due and state that the new owner will be responsible for them. You might get a bidder or find other options for getting rid of it.

People like to suggest donations, I would tell my clients as a tax consultant not to, unless they did everything they could to first sell it. I know it was suppose to be a vacation spot, however every one of those sales presentation claimed that you where buying or making an investment and it would be very easy to claim you purchased the timeshare as more of an investment than personal use. So you can take a long term investment loss on every dollar you lose plus and cost associated with selling your timeshare. Some have already spent a lot of fees for owning it, all tax deductible if you word it right.

Donations, you get to right of the amount of the value of the item at the time it was donated. You will need to have enough deductions to do a schedule A and not go over your limits to use any deduction. You will also need to pay all the fees and taxes up to date prior to donation.

Best to try to sell it on ebay at least once.

As stated above I have tried to sell on ebay- $50 to post and listed for 1.00. Did not even have any people watching it. The charity that people keep listing on this site does not take Bluebeards Castle. For that matter there are no charities that take Bluebeards Castle. Trust me I have researched this for yrs now. To donate it to a school or church function- What kind of person would I be to put someone else not knowingly in the same situation I am in. My thing is there has to be a way out of a deed. Otherwise I will just have to let it go to collections and deal with it for the next 7 yrs!

andria, does TREJESTO.com take any and all timeshares or are they selective in what they will take. Looks to be a very good cause ... thanks.

**********************************************************

We try to take as many timeshares as we can. We are way more flexible than other charities and have many sources which we offer the timeshare to. The limitations that we have are if it is in an area we are unable to close/transfer (ex. bahamas) or if the usage is low season. There are some as you well know that you cannot give away. :-)

Remember that our mission is to help the charity not hinder it.

Thanks again -- Andria www.trejesto.com

Andria,

What do you do for those people that have a timeshare you can't take, or sold on eBay for $1, and no other charity will take it? What do you suggest they do? After all, they need help to?

sharonh157 [Timeshare MLS.org assisted with the sale of my timeshare!! I would recommend to check them out !!! www.timesharemls.org

Sharon Savannah GA[/Q]

This company has an unsatisfactory rating with the BBB. I would not trust them.

wendit5

sharonh157 wrote:

[Timeshare MLS.org assisted with the sale of my timeshare!! I would recommend to check them out !!! www.timesharemls.org

Sharon Savannah GA[/Q]

This company has an unsatisfactory rating with the BBB. I would not trust them.

adahiscout states / asks, in part: >>Sharon, If you are saying Timeshare MLS really did sell your timeshare for a reasonable price, tell us more details.<< ==============================================

I don't expect we''ll see any such details posted, since I believe no such details actually exist in the first place. I will further venture to openly and clearly state my firm belief that this is merely a shill posting. Prove me wrong, Sharon, by identifying the County, book and page number of the recorded deed for your sale. I won't hold my breath while waiting to see that info, however....

Timeshare MLS.org (which is **NOT** a licensed realtor, and **NOT** the commission based, no upfront fee organization of licensed realtors to which Judy K. and others belong) is just another upfront fee scam operation, long discussed in great detail on numerous different timeshare sites (including previously in RedWeek forums, if memory serves correctly).

In a recent issue of Timesharing Today magazine, there was an itemized listing of ALL licensed realtor, no upfront fee, commission based timeshare sellers. There is also a standing link to a similar (but less descriptive of commission details) list somewhere on TUG. Rest assured that TimeshareMLS.org is **NOT** any part of that group, despite their misleading name which deceitfully implies otherwise.

I am a licensed appraiser (CGA) in Hawaii and Georgia and have been doing t/s appraisals for about a decade. I appreciate the info found in these messages and agree that the buyer and seller need to get firsthand valid info before executing a transfer. Value is what is being paid and not asking prices. That is the tough part though, to get the closed sales needed for a proper appraisal.

Mahalo.

bobbl wrote:

I am a licensed appraiser (CGA) in Hawaii and Georgia and have been doing t/s appraisals for about a decade. I appreciate the info found in these messages and agree that the buyer and seller need to get firsthand valid info before executing a transfer. Value is what is being paid and not asking prices. That is the tough part though, to get the closed sales needed for a proper appraisal.

Mahalo.

Even with closed sale prices, the time owned is part of the equation ... it's all about supply and demand of a given week at a given time.

Donation can be a great way to get rid of your timeshare but too often charities decline them because most charities in this crisis times are finding them just as hard to move as anyone else, and they certainly do not want to get stuck with maintenance fees that they cannot afford.

If you have no one else to turn you'll still can have timeshare relief over this stressful endeavor.

jayjay wrote:

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

johnw928 wrote:

jayjay wrote:

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

JayJay, You should also try www.givebacktimeshare.com because they may be able to help you.

Thanks John, but I don't own a timeshare to give to charity .... I sold all 9 of my timeshares a few years ago via Redweek and other internet listing sites. I was just trying to help others who might wish to donate, however many charites aren't taking timeshares any longer as they can't turn around and sell them for a profit in this economy and with all the $1 timeshares on Ebay.

OK. Thanks, JayJay. Have a great day.