Getting rid of a time share.

Thank you John for pointing out the true story. It is too bad that the internet is rife with misinformation by wanna be expert types.

Don't they put the units up for auction on eBay, not for just a flat $1.00? I'd think that was just the opening bid, but I'm no eBay pundit.

Nevertheless, I think some of you are being unfairly hard on Elsa for the crime of trying to be fair.

And, if anybody cares, "to" is used for "to town" or "to John". If you mean "also" or "excessively" or "more than enough" it is spelled "too"--more than enough O's. Get it? This is a bad error to make while you are criticizing someone else's intelligence.

I checked Ebay this morning and I could not believe the hundreds of nice timeshares for auction at 1 cent to $1. This is really deflating the value of ALL timeshares. You used to never see this on Ebay.

adahiscout wrote:

Don't they put the units up for auction on eBay, not for just a flat $1.00? I'd think that was just the opening bid, but I'm no eBay pundit.

Nevertheless, I think some of you are being unfairly hard on Elsa for the crime of trying to be fair.

And, if anybody cares, "to" is used for "to town" or "to John". If you mean "also" or "excessively" or "more than enough" it is spelled "too"--more than enough O's. Get it? This is a bad error to make while you are criticizing someone else's intellegence.

jayjay wrote:

I checked Ebay this morning and I could not believe the hundreds of nice timeshares for auction at 1 cent to $1. This is really deflating the value of ALL timeshares. You used to never see this on Ebay.

adahiscout wrote:

Don't they put the units up for auction on eBay, not for just a flat $1.00? I'd think that was just the opening bid, but I'm no eBay pundit.

Nevertheless, I think some of you are being unfairly hard on Elsa for the crime of trying to be fair.

And, if anybody cares, "to" is used for "to town" or "to John". If you mean "also" or "excessively" or "more than enough" it is spelled "too"--more than enough O's. Get it? This is a bad error to make while you are criticizing someone else's intellegence.

jayjay wrote:

I checked Ebay this morning and I could not believe the hundreds of nice timeshares for auction at 1 cent to $1. This is really deflating the value of ALL timeshares. You used to never see this on Ebay.

adahiscout wrote:

Don't they put the units up for auction on eBay, not for just a flat $1.00? I'd think that was just the opening bid, but I'm no eBay pundit.

Nevertheless, I think some of you are being unfairly hard on Elsa for the crime of trying to be fair.

And, if anybody cares, "to" is used for "to town" or "to John". If you mean "also" or "excessively" or "more than enough" it is spelled "too"--more than enough O's. Get it? This is a bad error to make while you are criticizing someone else's intellegence.

In reply to the e bay messaage. It may seem that e bay devalues our timeshares, however ebay is the market value of all things. timeshares to me are not as desirable as they once were for a couple of reason. now I am retired and can drive and stay with family. also the fees and assessments can really add up. i have two listed on red week, and i do have one on deposit. i am thinking of putting the last one we have on e bay because even for a penny plus closing many have to be relisted.

And timeshare resorts are being drastically overbuilt in many locations (Orlando, Vegas, Hilton Head, Branson etc.) ... it's not a new concept any longer AND people are becoming better educated concerning the subject of timesharing.

What's so sad is that the vast majority of 1 cent to $1.00 timeshares on Ebay have NO bids at all (I peruse ending timeshare auctions only).

jayjay wrote:

And timeshare resorts are being drastically overbuilt in many locations (Orlando, Vegas, Hilton Head, Branson etc.) ... it's not a new concept any longer AND people are becoming better educated concerning the subject of timesharing.

What's so sad is that the vast majority of 1 cent to $1.00 timeshares on Ebay have NO bids at all (I peruse ending timeshare auctions only).

=========

I suppose that if you value your timeshare as worthless, possible bidders take your word for it and walk away. MD

adahiscout wrote:

jayjay wrote:

And timeshare resorts are being drastically overbuilt in many locations (Orlando, Vegas, Hilton Head, Branson etc.) ... it's not a new concept any longer AND people are becoming better educated concerning the subject of timesharing.

What's so sad is that the vast majority of 1 cent to $1.00 timeshares on Ebay have NO bids at all (I peruse ending timeshare auctions only).

=========

I suppose that if you value your timeshare as worthless, possible bidders take your word for it and walk away. MD

you made me take a step back and think about your statement. i do not value my timeshare as worthless, but i do value my serenity as priceless. that is why i would rather give my timeshare away then to worry about how i am going to pay fees and assessments every year on three timeshares. fifteen years ago my husband and i had great vacations with them. now we have hit hard times, and as i said serenity is priceless to me. there is not any right or wrong way to view the value of a timeshare only different ways.

adahiscout wrote:

I suppose that if you value your timeshare as worthless, possible bidders take your word for it and walk away. MD

Thousands of people have tried several different methods to sell their own timeshare with no success including enlisting the aid of high priced upfront fee resale company scams and their lies. Many people have been scammed more than once by these companies.

Those timeshare owners are at the end of their rope and desperate to rid themselves of that albatross (timeshare) with ever increasing yearly maintenance fees and possible future special assessments, thus the postcard companies step in to take that responsibility off the owner's hands charging them a fee of $3000 + -.

They then turn around and auction those timeshares for $1.00 on Ebay. If no one bids, then yes, the timeshare is deemed worthless just as the postcard company has reiterated to their clients.

jayjay wrote:

adahiscout wrote:

I suppose that if you value your timeshare as worthless, possible bidders take your word for it and walk away. MD

Thousands of people have tried several different methods to sell their own timeshare with no success including enlisting the aid of high priced upfront fee resale company scams and their lies. Many people have been scammed more than once by these companies.

Those timeshare owners are at the end of their rope and desperate to rid themselves of that albatross (timeshare) with ever increasing yearly maintenance fees and possible future special assessments, thus the postcard companies step in to take that responsibility off the owner's hands charging them a fee of $3000 + -.

They then turn around and auction those timeshares for $1.00 on Ebay. If no one bids, then yes, the timeshare is deemed worthless just as the postcard company has reiterated to their clients.

-------- I looked into donating a TS to charity. Based on the paperwork, they did not transfer the title until the charitably organization actual re-sold the property. I was responsible for all fees and taxes UNTIL they resold the unit, even if it took a few years to sell. In addition, I was prohibited from renting, exchanging or using my unit. If anyone find an organization willing to take a TS (no strings attached) let me know. Depending on your tax bracket another option would be to donate your current week to local organization for their raffle, auction, etc; then claim a deduction for the “retail value” of vacation week. While this doesn’t solve the problem of getting rid of you TS, it might help pay the bill.

One thing you see on all these forums about this subject is people paying all this money out(wasting) and then caring about how much the company sells for!

You wanted out and had no knowledge of what to do so you pay some parasites a high fee to take your timeshare. Now you worry about that fact they may only sell for a dollar, "WHO CARES HOW MUCH THEY SOLD FOR". The profit was from you and you are now free and clear of that timeshare and you should be happy, and a lot less funds in your bank account.

PHILL12

I recently sold a Cape Cod timeshare on bidshares.com after only two auctions. I also bought a Hilton Head timeshare.

4weeks wrote:

I recently sold a Cape Cod timeshare on bidshares.com after only two auctions. I also bought a Hilton Head timeshare.

I also like Bidshares. I sold one timeshare there.

I was in the same position and then I found a company that I could Donate my Timeshare to. It cost me no money and I received a $4900.00 tax credit to boot. The Charity is a IRS Non-Profit Wildlife Refuge and the Company that handled everything was www.TREJESTO.com. They were great and everything was done in a couple of weeks. I would highly recommend them.

Ann Cherry Hill, NJ

annm246 states, quote: >> I was in the same position and then I found a company that I could Donate my Timeshare to. It cost me no money and I received a $4900.00 tax credit to boot. The Charity is a IRS Non-Profit Wildlife Refuge and the Company that handled everything was www.TREJESTO.com. They were great and everything was done in a couple of weeks. I would highly recommend them. <<

Ann Cherry Hill, NJ =======================================

You don't get a "tax credit" for a timeshare donation. A "tax credit" is a "dollar for dollar" reduction of your total tax liability, and that's NOT what a timeshare donation actually qualifies for under IRS regulations.

More accurately, you MAY be eligible for a tax *DEDUCTION* as a result of your donation, based upon its current market value (NOT whatever was paid originally), up to a maximum of $5k. Actual tax savings are FAR less money than a "tax credit" would be since, as already stated, the "dollar for dollar" nature of a "tax credit" does NOT apply to a timeshare donation.

Tax matters aside, however, the bigger issue with timeshare donations today is that many charitable organizations simply (and understandably) DO NOT WANT THEM and will promptly DECLINE the donation offer unless it's a popular week / resort / geograhic area (as Ann's Cape Cod timeshare clearly was). Some charities (most of them, actually) use a closing company to decide whether the "offered" timeshare should be accepted at all; very often it is NOT accepted.

Don't forget, a timeshare week is every bit as much of a financial burden for the recipient of the "donation" as it was to the previous owner who was willing to give it away (maintenance fee bills, special assessments, etc.). Unless an organization can promptly and easily turn a donated timeshare directly into cash by a very quick turnaround sale, it's absolutely worthless to them and just becomes an unwanted financial liability to them. For that reason, more timeshares are rejected than accepted.

Not to sound pessimistic, but having some direct, first hand knowledge and experience in this particular area, I wouldn't want folks seeing Ann's post quoted above to jump to incorrect conclusions and have false hope that an unwanted timeshare can simply be donated. Again, in today's market, more timeshare "donations" are REJECTED than are actually accepted as "gifts".

In short, Ann's experience is the exception, not the rule -- Cape Cod is a highly desirable area with a very limited number of timeshare locations and weeks being available. You wouldn't have the same success trying to donate a timeshare in a geographic location where thousands of timeshares are advertised for sale every day for pocket change (Kissimmee, FL , for example).

If the company that you purchased your timeshare from has a good reputation they may take your timeshare back. OUCH! You need to own your timeshare outright. You have to have the deed. Some places are willing to take the timeshare back. It hurts financial, but not for long. My sister paid Timeshare relief to take her timeshare, they charged her 1700. If she had called the timeshare directly and told them her financil problem they would have taken it back (she owned it) and she would not have had to pay any one. May 125 to record the deed.

I have heard that this has worked it is worth a try. Cynthia

cynthiap28 wrote:

My sister paid Timeshare relief to take her timeshare, they charged her 1700. If she had called the timeshare directly and told them her financil problem they would have taken it back (she owned it) and she would not have had to pay any one.

Are you sure the resort would have taken her timeshare back? Most resorts have heard all the excuses in the world (whether legitimate or not) and will not take a deed back.

jayjay wrote:

cynthiap28 wrote:

My sister paid Timeshare relief to take her timeshare, they charged her 1700. If she had called the timeshare directly and told them her financil problem they would have taken it back (she owned it) and she would not have had to pay any one.

Are you sure the resort would have taken her timeshare back? Most resorts have heard all the excuses in the world (whether legitimate or not) and will not take a deed back.

===== It never hurts to ask. The worst they can say is, "No!".

ken1193 wrote:

annm246 states, quote: >> I was in the same position and then I found a company that I could Donate my Timeshare to. It cost me no money and I received a $4900.00 tax credit to boot. The Charity is a IRS Non-Profit Wildlife Refuge and the Company that handled everything was www.TREJESTO.com. They were great and everything was done in a couple of weeks. I would highly recommend them. <<

Ann Cherry Hill, NJ

=======================================

You don't get a "tax credit" for a timeshare donation. A "tax credit" is a "dollar for dollar" reduction of your total tax liability, and that's NOT what a timeshare donation actually qualifies for under IRS regulations.

More accurately, you MAY be eligible for a tax *DEDUCTION* as a result of your donation, based upon its current market value (NOT whatever was paid originally), up to a maximum of $5k. Actual tax savings are FAR less money than a "tax credit" would be since, as already stated, the "dollar for dollar" nature of a "tax credit" does NOT apply to a timeshare donation.

Tax matters aside, however, the bigger issue with timeshare donations today is that many charitable organizations simply (and understandably) DO NOT WANT THEM and will promptly DECLINE the donation offer unless it's a popular week / resort / geograhic area (as Ann's Cape Cod timeshare clearly was). Some charities (most of them, actually) use a closing company to decide whether the "offered" timeshare should be accepted at all; very often it is NOT accepted.

Don't forget, a timeshare week is every bit as much of a financial burden for the recipient of the "donation" as it was to the previous owner who was willing to give it away (maintenance fee bills, special assessments, etc.). Unless an organization can promptly and easily turn a donated timeshare directly into cash by a very quick turnaround sale, it's absolutely worthless to them and just becomes an unwanted financial liability to them. For that reason, more timeshares are rejected than accepted.

Not to sound pessimistic, but having some direct, first hand knowledge and experience in this particular area, I wouldn't want folks seeing Ann's post quoted above to jump to incorrect conclusions and have false hope that an unwanted timeshare can simply be donated. Again, in today's market, more timeshare "donations" are REJECTED than are actually accepted as "gifts".

In short, Ann's experience is the exception, not the rule -- Cape Cod is a highly desirable area with a very limited number of timeshare locations and weeks being available. You wouldn't have the same success trying to donate a timeshare in a geographic location where thousands of timeshares are advertised for sale every day for pocket change (Kissimmee, FL , for example).