Buying, Renting, and Selling Timeshares

Is there an honest Timeshare transfer company....no upfront fees?

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Jun 07, 2018

Can anyone suggest an honest company to get rid of timeshares?

Avatar for Jane C.
Jane C.

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Jun 07, 2018

There is no company that can get you out of your contract . You can do it yourself if your home resort agrees to take it back through a deed back . Contact them and explain your situation to them . If they agree to take it back it should take only a few weeks to process , I got rid of two timeshares in 2011 that way . I contacted them and told them that I was going to get the timeshares out of my name with or without their assistance and they agreed to take them back .

You have to be current in all your fees and assessments . They may require you pay the next years maintenance fees to give them time to find another owner but that's a small price to pay to rid yourself of never ending fees .

NEVER pay anyone money upfront that claims they can get you out of your contract !!

Avatar for Don P.
Don P.

Last edited by donp196 on Jun 07, 2018 06:52 PM

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Jun 08, 2018

My resort does not take them back. I asked. What do I do? I advertised it for free and am current with fees.

donp196 wrote:
There is no company that can get you out of your contract . You can do it yourself if your home resort agrees to take it back through a deed back . Contact them and explain your situation to them . If they agree to take it back it should take only a few weeks to process , I got rid of two timeshares in 2011 that way . I contacted them and told them that I was going to get the timeshares out of my name with or without their assistance and they agreed to take them back .

You have to be current in all your fees and assessments . They may require you pay the next years maintenance fees to give them time to find another owner but that's a small price to pay to rid yourself of never ending fees .

NEVER pay anyone money upfront that claims they can get you out of your contract !!

Avatar for Jane C.
Jane C.

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Jun 08, 2018

My resort will not take it back.

Avatar for Jane C.
Jane C.

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Jun 08, 2018

janec244 wrote:
My resort does not take them back. I asked. What do I do? I advertised it for free and am current with fees.

NEVER pay anyone money upfront that claims they can get you out of your contract!

To whom did you speak at the resort? You should try to contact the resort's Homeowners' Association (HOA) rather than just a front desk clerk. Maybe offer to pay closing costs and perhaps even the next maintenance fee. Another thing to do is to say, in no uncertain terms, that you are not paying another nickle in maintenance fees (unless they agree to take it back with you offering to pay the next fee). It would be more rigorous and expensive for the HOA to go through foreclosure than to take your unit back amicably.

As for you advertisement, where did you advertise and how long ago? You might want to offer the taker an incentive such as offering to pay closing costs and the next maintenance fee.

And I will repeat what Don P emphatically stated. Do not pay some company, law firm, charity, etc., money to supposedly "cancel" your timeshare. Those are scams.

Avatar for Lance C.
Lance C.

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Jun 08, 2018

Lance is correct . I made many phone calls until I finally got a hold of the person that handles the deeds and titles . I convinced them that it was in everyone's best interest to take it back . I explained to them that I was not responsible for the next owner if they do not pay their maintenance fees . It was a win win if they cooperated with me rather than me finding another owner on my own . You have to be your own advocate . If that doesn't work you might have to become creative to find another owner or in some cases just walk away and let them make the next move . If you stop paying they might reconsider taking it back . That's a decision you have to make for yourself .

Avatar for Don P.
Don P.

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Jun 08, 2018

janec244 wrote:
My resort does not take them back. I asked. What do I do? I advertised it for free and am current with fees !

Hi Jane, I would list the timeshare for free at RedWeek’s Bargain section and the Timeshare Users Group (TUG) Bargain Deals. https://tugbbs.com/forums/index.php?forums/bargain-deals.55/ and https://www.redweek.com/featured/bargain-timeshare-resales

You could sweeten the deal by offering a enticing gift/cash card, maybe $500.00? You can also list your timeshare on eBay, Craigslist’s and myresortnetwork.com.

If an agent is a Licensed Timeshare Resale Broker, they shouldn’t be asking for upfront fees to sell your timeshare.

http://www.licensedtimeshareresalebrokers.org

They should be able to tell you if your timeshare has any value.

Where is your timeshare?

Avatar for Carol P.
Carol P.

Last edited by carolp491 on Jun 08, 2018 07:20 PM

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Jul 15, 2018

I am a former timeshare sales and marketing executive who has worked in the timeshare industry for 15 years. If it is paid in full, you can simply write them a letter, inform that you will no longer need the timeshare and ask for their instructions to return it to them. If they refuse, ignore them.

Despite the scare tactics that you hear from others, this will not affect your credit if it is paid in full. You owe them nothing. What they will want to do is have the means to resell it and make another profit.

Best of luck!

Avatar for Wayne C.
Wayne C.

Last edited by vhines on Jul 25, 2018 07:55 AM

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Jul 16, 2018

Thank you so much I will follow yur advice soon and let you know.

Jane

Avatar for Jane C.
Jane C.

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Jul 16, 2018

At what resort do you own at?

Avatar for Alex C.
Alex C.

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Oct 26, 2018

Waynec...I read your reply and don't believe that the resort will take it back even if I prepaid one years HOA dues....can you email me or reply and offer me more info on this? Thank you so much

Avatar for Charles M.
Charles M.

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Oct 29, 2018

Charles M. wrote:
Waynec...I read your reply and don't believe that the resort will take it back even if I prepaid one years HOA dues....can you email me or reply and offer me more info on this?

I am not Waynec, but I do have 35+ years of timeshare ownership and experience, including time as a sitting HOA / Board member.

The simple truth is that no resort can ever be "forced" to accept a "deedback". Some will do so willingly, some will (foolishly) never consider doing so under any circumstances. It's a individual resort policy decision, so don't listen to anyone who attempts to tell you there is a "one size fits all" answer. It just ain't so.

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KC

Last edited by ken1193 on Oct 29, 2018 08:03 AM

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Oct 29, 2018

Thank you so much for your reply… That’s exactly what I was thinking, but needed someone with real experience to reply. If you have any other suggestions, I would appreciate it… Thank you so much!

Avatar for Charles M.
Charles M.

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Oct 29, 2018

Has anyone ever tried to work with clubwyndham to get out from under a timeshare contract?

Avatar for Andrea W.
Andrea W.

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Oct 30, 2018

Charles M. wrote:
Thank you so much for your reply… That’s exactly what I was thinking, but needed someone with real experience to reply. If you have any other suggestions, I would appreciate it… Thank you so much!

Have you tried to give away your timeshare for free? Timeshare Users Group (http://www.tug2.net) has a "Bargain Deals" section where people do that all the time (although not always successfully). You may have to offer to pay closing costs and any resort transfer fee (and maybe even the next maintenance fee bill) to entice a new recipient / owner with a free week of usage. However, some timeshares (Westgate comes immediately to mind) are difficult to even give away for free, but Westgate now fortunately now has a "deedback" program (as long as the timeshare is fully paid off and maintenance fees are current --- and you also pony up another $950 to those parasites just for them to take the ownership back).

If whatever you own is at a non "chain" independent resort, your best bet may very well be to aggressively pursue a deedback to the HOA. If the HOA is adamant in its' refusal to accept a "deedback", you can (and should) clearly point out to them that if you simply stop paying, then the HOA will end up with the timeshare anyhow --- after they undertake the completely avoidable time, expense and inconvenience of initiating foreclosure on your ownership. Good luck.

Avatar for KC
KC

Last edited by ken1193 on Oct 30, 2018 05:16 AM

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Feb 18, 2019

What about if you're not completely paid-off, and still have an outstanding balance? What's your advice in this situation?

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Angelia Y.

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Feb 18, 2019

angeliay2 wrote:
What about if you're not completely paid-off, and still have an outstanding balance? What's your advice in this situation?

That would depend on how much you have already paid and how much you still owe. As well, do you owe on a deeded timeshare, a Right-to-Use (RTU), or a travel/vacation club?

If you owe more than what it's worth on the resale market, then one option would be to stop payments, let it default and go into foreclosure. You would lose all the money you have paid into it thus far and probably face a bunch of annoying collection calls and letters. Most of those calls are usually just threatening with no enforcement.

The biggest piece of advice (if it hasn't been mentioned already) is to not pay any of these companies or law firms that claim they can "cancel" or "exit" you from your timeshare, especially if you still have money owing on it.

Avatar for Lance C.
Lance C.

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Feb 19, 2019

angeliay2 wrote:
What about if you're not completely paid-off, and still have an outstanding balance? What's your advice in this situation?

I respectfully decline to offer you any "advice", as you have provided far too little background facts or figures or information on which to possibly base any such advice. Every situation is different.

I will merely note that if you default on a loan, there will almost certainly be negative credit report consequences. Whether or not this fact concerns you is a personal matter. Negative credit report information will remain in place and on record for seven years. This is something to consider if you have plans to apply for any other loans (including a home mortgage) during that time frame.

There is no "magical escape" from a legally binding contract you voluntarily entered of your own free will and choice. You either honor those contract terms or breach the contract and default on the loan.

Avatar for KC
KC

Last edited by ken1193 on Feb 19, 2019 02:45 AM

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Feb 19, 2019

Any member of the Licensed Timeshare Resale Broker Association will list most timeshares (except mine due to excessive secondary market restrictions) with no upfront charge. You may just break even, but at least it helps to create a glimmer of a secondary market. http://www.licensedtimeshareresalebrokers.org/

Avatar for Irene P.
Irene P.

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Feb 21, 2019

I have completely paid off. Now I have to pay maintenance fee for rest of my life. How can I get rid of this? PLEASE HELP

ken1193 wrote:
angeliay2 wrote:
What about if you're not completely paid-off, and still have an outstanding balance? What's your advice in this situation?

I respectfully decline to offer you any "advice", as you have provided far too little background facts or figures or information on which to possibly base any such advice. Every situation is different.

I will merely note that if you default on a loan, there will almost certainly be negative credit report consequences. Whether or not this fact concerns you is a personal matter. Negative credit report information will remain in place and on record for seven years. This is something to consider if you have plans to apply for any other loans (including a home mortgage) during that time frame.

There is no "magical escape" from a legally binding contract you voluntarily entered of your own free will and choice. You either honor those contract terms or breach the contract and default on the loan.

Avatar for Ebrahim P.
Ebrahim P.

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