Why would someone sell a timeshare for $0?

Why would someone sell a timeshare for $0? Is there something wrong with it? Is there a reason no one wants it? If I took one, would I end up regretting it? Is it risky?

Thanks

cynthiaf91 wrote:

Why would someone sell a timeshare for $0? Is there something wrong with it? Is there a reason no one wants it? If I took one, would I end up regretting it? Is it risky?

Thanks

Lots of timeshares are being listed "for sale" for $0 because the owners desperately are wanting to get rid of them. Likely the owners are no longer using the timeshares and want to relieve themselves of the yearly maintenance fees (and possible special assessments).

If you're looking to pick up one of these free timeshares, make sure you do your homework. Ask yourself some soul-searching questions such as: Can I afford the yearly maintenance fees? Will I travel to this resort at least every other year? What will I do if a large, untimely special assessment comes (see discussions about Poipu Point in Kauai)? If I die, will my heirs or the executor of my estate know what to do with the timeshare? What does it cost to rent there for a week (from a current owner) compared to the yearly maintenance fees?

If you are going to "buy" one, you are definitely wise to look for some cheap/free ones because there are many out there (as opposed to directly buying from the resort or its developer). Just make sure that you plan to use it often and are prepared to pay the maintenance fee bills each year (whether or not you use it that year)>

I just deeded back two timeshares to my home resorts. When we first bought them we would travel every year and we enjoyed exhanging them. We used RCI as an exhange company. Since then RCI was taken over by a greedy corporation that began selling the good weeks on the open market depriving the owners of the good exchanges. Our lives changed over the years and we don't want to travel as much anymore. We were still obligated to pay the maintenance fees and taxes every year. Then there were the special assessments. They can easily be thousands of dollars that you will be responsible for paying. My best advice is to look at the timeshare rental listings and rent one that is available rather than commit yourself to a life long obligation you might regret.

Because that is what it is worth the minute you sign the papers buying it for many thousands.

Why would someone sell a timeshare with $0 maintenance fees for $1? What other fees could a potential buyer encounter

michaela1451 wrote:

Why would someone sell a timeshare with $0 maintenance fees for $1? What other fees could a potential buyer encounter

There is no such thing as a timeshare with “$0 maintenance fees”. Why / how would you ever somehow believe otherwise?

One reason why people are sometimes willing to give away their timeshare for free is to ESCAPE those mandatory maintenance fees, which ALWAYS exist (and which also generally tend to increase by at least 5% every year). Maintenance fees (...not magic, not divine intervention) are what support the day to day operating costs (utilities, insurance, groundskeeping, staffing, building and appliance and A/C repairs, pool maintenance) and other maintenance costs at any and every timeshare property in existence. There is no "free lunch" in timeshare ownership, plainly and simply stated.

michaela1451 wrote:

Why would someone sell a timeshare with $0 maintenance fees for $1? What other fees could a potential buyer encounter

Please point out to me a legitimate timeshare that has $0 maintenance fees. I doubt they exist.

As for "What other fees could a potential buyer encounter", there are special assessments which have been discussed numerous times on these boards.

I have a brother that deals in timeshares. He gets SEVERAL each and every year where the current owner simply wants out. They give him their interest in the timeshare and he pays for the transfer (and other) fees. He generally rents that timeshare out for that year, then gives them away before the maintenance fees come due again.