Exit Strategy

Not pointing any particular fingers at any particular forum or users, why is it that on the several timeshare-lover forums when someone says they're done and they just want to figure out how to get rid of it, some people feel a need to tell them how to use it better, and some people feel a need to criticize the person, telling them stuff like they never took the time to understand what they owned.

What's so hard about "I'm done with. How do I get rid of it?"

The first step is to call your home resort and ask them to take it back through a " deed back ". You have to state your case like I did. I told them in no other terms that I was going to get rid of it with or without their help and it was in their best interest to work with me. You have to be current in all your fees and assessments. Some resorts require you to pay the next years maintenance fees to give them time to find a new owner.

The process takes only a few weeks and all I had to pay was a minimal fee. Make sure when you call you get a hold of the person that handles the titles. It might take a few calls but the effort is worth it.

I guess I'm not understanding your question. Are trying to develop a strategy, or are you making an observation?

I'm making an observation from my 17 years on Internet timeshare forums . . . that some people don't understand that when someone says they are done with their timeshare it means they are done with their timeshare. Normally by the time they are posting on an Internet forum, they have exhausted everything they know to try to unload it. So, what they are looking for is how to do that, and nothing else.

It's possible that when people respond with something other than that, it is because they don't know how to get rid of a timeshare.

FWIW, every timeshare owner will want to, or need to, get rid of it some day for some reason. Every owner. So, why doesn't the industry provide for that?

The industry is only interested in selling the product they have in stock. The reason they sell at timeshare presentations is that if they advertised on the open market they would go out of business. They count on high pressure sales to lure victims . Why would they take back a product that is difficult to unload. They count on luring people who are in a euphoric state on a vacation and that they won't realize what they bought until after they get back home and the rescission period has expired.

There is an excellent article written by Michael Finn Esq. on the 11/7 issue of www.insidethegate.com which addresses the industry's lack of exit plans for timeshare owners. As you state, everyone will need an exit plan. Some sooner than others. Because they were victim of aggressive and overbearing sales people, some people need help right after they purchase. And, because rescission periods are so short, many people are stuck with a lifetime of bills because of their naive good intentions.

You make a good point about some posters advising people to "learn to use the product." They are people who tend to have the necessary knowledge and patience to vacation by the industry rules. They have studied their contracts and know when to make reservations and how. The disappointed only know that they were lied to and they can't make plans a month in advance. Salesmen have either lied or bent the truth to make a sale and most people don't understand they have signed a lifetime contract.

Unfortunately, the industry doesn't want people giving back timeshares. It would crush earnings and drive stock prices down. The only 2 companies who offer any relief are Diamond and Wyndham. Both require all mortgages to be paid in full and maintenance fees to be current. They can then sell the contracts at retail and make tons of money from new victims - er - customers. But, this doesn't help the newer customers who are saddled with large debt.

Of course, something is bound to change. The companies are now dealing with a plethora of exit companies who seem to have some national acceptance. It is costing them money and it is costing them customers. They will want to change that. Will it create new exit plans? Maybe - maybe not.

When I say "industry" it is because I realize that in most cases when the owner reaches the point when they want to get out, the folks who got them in are no longer in the picture. In most cases, it is the HOA that has the responsibility to deal with the issue. I know of some HOAs that do it really well, and I know that most do not.

But, that is not what the OP is about. It is about the way some people on Internet forums reply to people looking for suggestions on how to get out.

jlb wrote:

...some people feel a need to tell them how to use it better, and some people feel a need to criticize the person, telling them stuff like they never took the time to understand what they owned.

What's so hard about "I'm done with. How do I get rid of it?"

Actually, I'm not one of those people. If someone comes on boards like these wondering how to dump their timeshare, I usually give advice on how to do so while avoiding the many scams, illegal schemes, and (at best) questionable companies.

Advising people to learn how to use what they bought is just one of many suggestions put forth on boards like these but is by no means the only suggestion. One reason why some advise these owners to learn to use what they bought is that, if owners do learn to use what they bought, they might actually like it.

Yeah, I know people giving advice not asked for think they are doing a good thing. But, some just don't get it; they just don't get, "I'm done."

If they also tell them how to get rid of it, they have done a good job. But, if you've never had to have to get rid of one (or four), how can you advise how to do it?

As a multiple TS owner for over 20 yrs. haven bought and "gotten rid of" on occasion. I do understand the meaning of "I'm done" I also, in the beginning sat thru the awe unspringing, dog and pony show. Only to learn to play by the rules.

Granted there may be some legitimate exit strategy, and there may be some not so legit. As stated previously, it's not the "industries" concern to help people exit. I have seen on other sites where a couple of TS companies are offering buy backs, or are ROFR'ing TS that they can make money on, by re-selling.

To your original point of "why". I would say, that what may have worked for one, may not work well for another. To your point of going off in other directions, or suggestions. I would ask you this, If you were standing on a cliff and you were bound to jump off and surely die because you thought there was no other way, but I told you there was a bridge that you could walk across and live. Would you jump ?

As far as being rude, there is no excuse for that. I have caught several scammers, travel companies, and one person with there own agenda of luring people to a lawyer that has no reputation, or track record, other than taking some ones money and disappearing.

You mentioned that you have given advice to people regarding an exit strategy for their timeshare. I am 62 yrs now and I am still using my timeshare and renting it when I decide to go somewhere else and can't use it myself. Can you give me a few points that are important to know when the time comes that a person wants to exit their timeshare? Naturally, my first contact would be to the resort. Thank you in advance and Happy New Year!

hollyh117 wrote:

Can you give me a few points that are important to know when the time comes that a person wants to exit their timeshare? Naturally, my first contact would be to the resort.

The first important point to know is to not pay anyone a large, upfront fee to get rid of your timeshare. There are a number of questionable law firms out there that will gladly take your money upfront and then might not do anything. Other avenues not recommended are charities, Post Card Companies (PCCs), or Viking Ship operations (although they won't tell you that they are Viking Ship operations).

Contacting the resort is a good start. Make sure your mortgage, special assessments, and maintenance fees are all paid up. Then make sure you contact someone at the Homeowners' Association (HOA) rather than a desk clerk at the resort.

If you are willing to do a little bit of work, you can try advertising your unit for giveaway here on RedWeek, My Resort Network, Craigslist (just watch out for the many spam and scam attempts), or Timeshare Users Group (aka "TUG"; tugbbs.com). You might have to offer to pay closing costs and maybe even the next maintenance fee, but that will always be cheaper than paying a law firm.

FWIW, the European union of timeshares, whatever they call themselves, RCI, and ARDA recommend that resorts have an exit program. You can google and find those sources.

The OP in this thread is about why some people on the Internet ignore or disrespect people who want to get rid of their timeshares, not about how to get rid of them.

I understand the OP for the thread and apologize for asking the question. Sincerely, Holly

No problem. No hard feelings. No ill intent.

Just trying to get an answer to the question asked in the OP, why some people on Internet timeshare forums answer "How do I get rid of it?" by telling folks how to keep it.

Happy holidays.

which resort do you work for?

You don't have to work for a resort to question some of the responses you see here. A certain amount of communication problems on an internet forum are to be expected. Total strangers sending brief messages to each other is bound to cause innocent misunderstandings.

People that have advanced knowledge of a given topic tend to assume that people who ask for help are clueless. Sometimes the adviser is right and he saves a clueless OP from making a big mistake.

Other times, the OP knows exactly what he is doing and he is insulted by what he sees as condescending "advice".

Then there are those that take a dismissive or hostile tone towards everyone. Every forum has some of these people and they are best ignored. That's my two cents on the subject.

That's at least four cents worth!

If a person cannot provide the information a person asks for, why do they insist on providing information the person did not ask for?

For those who ignore the fact that there is an exit strategy problem, here's an ARDA assessment from two years ago. Not addressing it is getting some resorts bulldozed.

Do you think it has gotten better or worse since then?

http://www.redweek.com/resources/ask-redweek/timeshare-resales-arda-predictions

how do I contact you