Problem with timeshares

Hello

I know not to get a timeshare but I caved for my wife(at the time) and we got it. A year or two later we divorced and I was stuck with it. It's paid off and I'm tired of paying the yearly fee of about$500. I've tried selling it. I've asked them to take it back and sell the junk to someone else, I'd just sign it back over to them. Is there any way to get out of the damn thing!?

Thank you

In the meantime try using it or renting it out to mitigate your losses while you try to get rid of it . Call the resort and ask them to take it back . If it's a Mexican timeshare just walk away and stop paying . $ 500 maintenance fees is quite low so you should be able to rent it out and at least break even .

raymondg121 wrote:

Hello

It's paid off and I'm tired of paying the yearly fee of about$500. I've tried selling it. I've asked them to take it back and sell the junk to someone else, I'd just sign it back over to them. Is there any way to get out of the damn thing!?

Timeshare Users Group (aka TUG) has a "Bargain Deals" forum where you can offer to give away your unwanted ownership. If posting there, you need to be very clear and specific about the chain / resort / unit size / week number / points, etc. Better to provide every available detail in the posting than to have to continually answer multiple questions over and over again about details of the ownership if you fail to provide important and relevant details right up front in your "ad". Good luck.

raymondg121 wrote:

I've asked them to take it back...

To whom did you speak when you asked for "them to take it back"? You have to contact someone at the Homeowners' Association rather than a front desk clerk. Some other suggestions depend on what the chain is. Diamond, Wyndham, and Westgate are taking back a select, limited number of units in their respective deed back programs.

Also, if you contact the HOA, tell them that you are not going to pay any more in maintenance fees so it would be in the resort's best interests for it to take the unit back rather than go through the costs an rigors of foreclosure. Don P and KC also gave you some good advice above. The other thing I will add is to not go seeking the "help" of these law firms, charities, or other companies with words like cancel, exit, relief, or release, etc. in their name. These are usually scams or will charge you thousands of dollars to do what you can do yourself.

I have a timeshare given to me by my dad. The maintance fee is very expensive 1,800 dlls per year I seldom use it but rather give it to relatives to use it by paying me at least the maintenance. I am tired to pay always in advance how can I sell it if I am a non resident for a very little price and still have to pay taxes?

carolinae14 wrote:

I have a timeshare given to me by my dad. The maintance fee is very expensive 1,800 dlls per year I seldom use it but rather give it to relatives to use it by paying me at least the maintenance. I am tired to pay always in advance how can I sell it if I am a non resident for a very little price and still have to pay taxes?

The first rule is to never pay any company a large, upfront fee to sell, rent out, market, or "cancel" your timeshare. Those are scams. The next thing to do is to get an idea of what it is worth on the resale market. Over 90% of the units out there are worth about zero dollars. Try checking E-Bay for completed (not active) listings of similar units to see what they sold for.

Regardless of how much it is approximately worth, use reputable web sites such as here on Redweek, My Resort Network, Timeshare Users Group (aka "TUG"), the aforementioned E-Bay, or Craigslist. Some owners have also reported success listing on their Facebook groups. If you find out that your unit is worth zero or less, try offering the new taker an incentive such as you paying the closing costs and possibly even the next maintenance fee. Also, some timeshare companies and various resorts have deed back programs that allow the owners to surrender their ownership to the resort under certain conditions so check that out with the resort or timeshare company.