Getting rid of a time share.

mike1536 wrote:

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

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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).

Anyway, just another word of caution. I checked out donating a TS to "Eyes for Sight". I declined after reading the requirements. They did not actually take the TS until after a buyer was found. In the meantime, I would've had to continue the maintenance fees AND I was not allowed to use, rent or deposit the unit.

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.

I'm in the process of a "Deed in Lieu of" transfer back to the T/S company. For $294 attorney fees I can deed it back in exchange for forgiveness of ("in lieu of") over $3000 in past MFs (the mortgage was paid years ago).

The owner is Sunterra but I bought it from my in-laws years ago before Sunterra bought in so I may be grandfathered with rights such that Sunterra may not be making the same offer to later purchasers there. My guess is that Sunterra is trying to get these older deeds off the books so they can sell new ones with fewer consumer protections. At the least, they must want that week cleared to sell as a rental.

The ony reason I'm here is because I was researching a mailing from Timeshare Relief Inc. and I'm glad I did. The alarm bells went off after viewing the bogus "interview" video on their website. They were extremely careful not to describe exactly how they would provide their "relief" or mention that you would be the one who pays. It was non-stop self-praise and how happy they were to be able to help so many people - all doled out with every sofball question from the "interview host". I now understand that when their mailer to attend a presentation says "our representatives will be making offers on Timeshares on the following dates" they don't mean offering to buy your unit - which is what every sane person reading their mailer would assume - but making offers on how much they will charge you in order to have you deed it over to them.

An earlier defender of Timeshares Relief here said they're a business providing a service, what's wrong with making a profit for a service? I smell a rat there, too. This is a classic communications ploy. Make a reasonble, unchallengable general statement and infer that it also applies to the specific example at hand. But:

1. If the "relief" service engages in some of the same deceptive practices as the original T/S sellers then they are just as guilty. 2. They are in the same league as "businesses" who "deserve to make a fair profit" for providing "legitimate services" at massively inflated fees - for services that you can get for free or nominal costs from the original sources. Such as charging to track down lost funds held in your name by state treasuries when all you have to do is go to the state website and search. In other words, a massively overpriced rip-off.

For $3,500, at the current rate of my unit's annual maint. fees I can list my unit to sell (or give away) on e-Bay and Craig's List and other sites for at least 7 years before hitting the break-even point. In my case, that actually would be more like 13 years because I'm also shedding a $3,000+ debt in lieu of. YMMV but do the math first and ask your T/S company about a deed in lieu of, people.

I saved one part until last because I want it clear that I'm not making any accusations whatsoever, simply an "observation of fact" as our TRI defender did, except that I'm clearly noting that it may or may not apply here and I don't pretend to know or imply the answer.

Con men long have known that the best potential suckers are those who already have fallen for the same basic type of con. That's why they sell their vicim lists to each other. If you bought the crappy, overpriced basement waterproofings job, you're probably an easy sell for the crappy overpriced siding job - or even for an oh, so sympathetic pitch that "We feel your pain but we'll do your basement waterproofing right this time!".

Whether intentional or not, targeting timeshare victims with an overpriced "relief plan" using borderline-ethical pitches kind of smacks of the same "repeat business" marketing tactic, doesn't it?

"If you were dumb enough to buy the timeshare..."

I have mixed feelings about postcard companies that charge to take a timeshare off an owner's hands.

On the one hand, an owner may have tried unsucessfully selling their timeshare themselves and they are still stuck with it and all future maintenance fees (rising) and/or special assessments. They are willing to pay 3+ years maintenance fees to a postcard company to rid themselves of that albatross and all the financial obligations tied to it. Of course, I believe relying on a postcard company should be a last resort (excuse the pun) in getting rid of any unwanted timeshare.

There are thousands of timeshares that can't be sold for $1 or even 1 cent on Ebay that are timeshares that were acquired by a postcard company. If the postcard companies can't sell them for that amount, then surely the owner couldn't have given it away either and was 'stuck' with it forever. The postcard company is then responsible for future maintenance fees and/or special assessments for that timeshare.

So, in my opinion, postcard companies do offer a 'service' of sort, albeit an expensive service. Sometimes 'peace of mind' (getting rid of that unwanted timeshare albatross) is more important to an owner than the money given to a post card company to rid that owner of their unwanted timeshare.

I don't disagree in principle with any of your points. As I said, do the math and explore all options. If paying to take it off your hands still makes sense then do it - as a calculated decision made while fully informed and "eyes wide open".

My gripe is that their selling tactics, which are as bad as the timeshare sellers, don't lend themselves to making that kind of calm, informed decision. They're exploiting the desperation that the T/S companies created by harping on deliberate scare tactics that can be questionable at best, and they won't even tell you what the "real deal" is until they get you in the door. They play a bogus "interview" video where everything was scripted and bought and paid for, but unless you know what to look for, you would gotten the impression that this was a legitimate consumer affairs journalism piece. I could go on and on but I'm pretty sure you already understand my point.

orvillem5 wrote:

I don't disagree in principle with any of your points. As I said, do the math and explore all options. If paying to take it off your hands still makes sense then do it - as a calculated decision made while fully informed and "eyes wide open".

My gripe is that their selling tactics, which are as bad as the timeshare sellers, don't lend themselves to making that kind of calm, informed decision. They're exploiting the desperation that the T/S companies created by harping on deliberate scare tactics that can be questionable at best, and they won't even tell you what the "real deal" is until they get you in the door. They play a bogus "interview" video where everything was scripted and bought and paid for, but unless you know what to look for, you would gotten the impression that this was a legitimate consumer affairs journalism piece. I could go on and on but I'm pretty sure you already understand my point.

Oh, I definitely understand your point and agree with most everything you say, however, in this day and time of instant search capabilities via the internet, I can't wrap my mind around the fact that people don't research postcard companies before they do business with them. There are 'free to use computers' at all libraries in case someone doesn't have a computer at home. The world of knowledge and education is at one's fingertips via the internet.

But, just like with most everything having to do with timeshares and all the negatives concerning such from developer high prices to upfront fee resale scam companies to postcard companies, people just don't seem to research all aspects of timesharing before committing themselves financially ... that's my point.

If they would research postcard companies (or the name of the company on the postcard) via the internet they would realize that they have to pay them to take that timeshare off your hands.

However, forums such as Redweek's forums are trying to educate the consumer on all aspects of timesharing as is evidenced by the many 'upfront fee resale company scam' threads here. Many people had no idea that they were being lied to by these scammers until they researched them on the internet.

jayjay wrote:

Oh, I definitely understand your point and agree with most everything you say, however, in this day and time of instant search capabilities via the internet, I can't wrap my mind around the fact that people don't research postcard companies before they do business with them. There are 'free to use computers' at all libraries in case someone doesn't have a computer at home. The world of knowledge and education is at one's fingertips via the internet. ... If they would research postcard companies (or the name of the company on the postcard) via the internet they would realize that they have to pay them to take that timeshare off your hands. b]

People still fall for the Nigerian e-mail scam, go figure. At $3500 a pop you only need a small percentage of responses on your postcards to make a nice living off the misery and greed of others. If 95% of 4 million T/S owners are too smart to be taken or aren't interested in selling, that leaves (do the math - it's what the military would call a "target-rich environment").

orvillem5 wrote:

If 95% of 4 million T/S owners are too smart to be taken or aren't interested in selling, that leaves (do the math - it's what the military would call a "target-rich environment").

Exactly, but the timeshare industry as a whole is rampant with a "target-rich environment" and it starts at the top with timeshare developer salespeople and their spiels and lies (old saying ,"if a timeshare salesperson moves their lips, they're lying") with the domino affect into other areas such as upfront fee resale scam companies and postcard companies.

There's just too many scams and get rich schemes involved in the entire industry.

yes, I wanted to know if the the 1700 you sister paid to sell her timeshare work and if you know anyone of those companies that charge you to take your timeshare is legit and really take back the timeshare? let me know anyone out there.

timw139 wrote:

yes, I wanted to know if the the 1700 you sister paid to sell her timeshare work and if you know anyone of those companies that charge you to take your timeshare is legit and really take back the timeshare? let me know anyone out there.

You also might try contacting the resort to see if they will buy back the week. Always worth a shot.

Good luck.

vicki296 states in part: >> DO NOT TRUST THOSE COMPANIES!!! You are better off marketing and selling it yourself. The internet is a huge marketplace. If you check completed auctions on ebay you can see what your timeshare is going for.<<

Good, sound advice which I would echo. ================================================

Re: >> You also might try contacting the resort to see if they will buy back the week. Always worth a shot.<<

While it's certainly worth a phone call to see if the resort will accept a "deedback", unfortunately it is unrealistic to even hope that any resort will actually "buy" a week back. Very few resorts accept deedbacks at all (i.e., take ownership back for free). A resort paying out money to take a week back from an owner is, at best, highly unlikely....

redbird How does one get rid of a timeshare that we no longer use and can't sell for just one maintainace fee or less. Regarding "Timeshare Relief"-- We owned a timeshare in New Orleans (and love New Orleans) but could not visit each year. Because of Katrina, unfortunately the desire to visit there had declined at the time. We were not successful in renting out our booked week or selling the floating week, so we used "Timeshare Relief" to rid ourselves of it. We did pay over $2,000 for this and are now glad we did. What we sold to them was not deeded to Timeshare Relief. The company did what they said they'd do for us: legally took it off our hands using a Timeshare closing service. The IRS told me that you cannot write off a timeshare loss unless you rented it out a good percentage of the time (I don't know the exact percentage), so we did not claim it as a writeoff. I definitely don't think this is a great idea for timeshare owners, as it probably puts a lot of rental weeks on the market competing with other deeded owners who are trying to rent weeks they cannot use.

julias32

redbird wrote:

How does one get rid of a timeshare that we no longer use and can't sell for just one maintainace fee or less. Regarding "Timeshare Relief"-- We owned a timeshare in New Orleans (and love New Orleans) but could not visit each year. Because of Katrina, unfortunately the desire to visit there had declined at the time. We were not successful in renting out our booked week or selling the floating week, so we used "Timeshare Relief" to rid ourselves of it. We did pay over $2,000 for this and are now glad we did. What we sold to them was not deeded to Timeshare Relief. The company did what they said they'd do for us: legally took it off our hands using a Timeshare closing service. The IRS told me that you cannot write off a timeshare loss unless you rented it out a good percentage of the time (I don't know the exact percentage), so we did not claim it as a writeoff. I definitely don't think this is a great idea for timeshare owners, as it probably puts a lot of rental weeks on the market competing with other deeded owners who are trying to rent weeks they cannot use.

We also owned a timeshare week at Hotel De Eau l' Vive in New Orleans. When we moved to the mountains of NC, we sold ALL of our timeshares including the one in New Orleans .... right after that Katrina hit.

I am so thankful we sold it before the hurricane and the advent of postcard companies that sell timeshares for $1 on Ebay (there were no such entities when I sold our timeshares). I probably couldn't give my timeshares away now (9 owned over the years) and would probably have to pay a postcard company to take them off my hands or be indebted to those resorts forever (maintenance fee/special assessment ... horrors indeed).

P.S. Just checked Ebay's completed timeshare auctions and many are selling for 1 penny .... this definitely devalues ALL timeshares.

Post deleted. I decided I didn't want to stir up a hornet's nest.

mike1536 wrote:

Post deleted. I decided I didn't want to stir up a hornet's nest.

TimeShares are like Restaurants...... we ALL have an Opinion as to their quality of product and service they provide. I am a NEW Redweek Reader/Poster but have had nearly 20 years (50+ rentals) experience at a dozen Resorts (including SunTerra-Williamsburg, VA)... We had a 2BR with Jacuzzi on 15th TEE for under $500/week. Most were fantastic!... Yes, the Pahwaton Estate included. (sorry, I flunked third grade spelling.. and am Canadian).

I AM 'interested' in HOW the Management of some TSRs can increase their MFs to $1200 and more. That does seem unreasonable.... except, TRY to rent a NICE room in a Major Hotel Chain for under $250 a night... ...Just MyNotSoHumbleOpinion..

donaldd67 states in part: >> I AM 'interested' in HOW the Management of some TSRs can increase their MFs to $1200 and more. << ============================================

Where exactly are maintenance fees that high??? I have owned a handful of coastal U.S. location weeks, at several different resorts, for almost 25 years now. NONE of my annual maintenance fees have yet reached $600, so I'm genuinely curious about the factual basis for your $1200 MF reference (which is more than twice the amount which I pay for any of my weeks). Where exactly might that $1200 MF be, if I may ask?

ken1193 wrote:

Where exactly are maintenance fees that high??? I have owned a handful of coastal U.S. location weeks, at several different resorts, for almost 25 years now. NONE of my annual maintenance fees have yet reached $600, so I'm genuinely curious about the factual basis for your $1200 MF reference (which is more than twice the amount which I pay for any of my weeks). Where exactly might that $1200 MF be, if I may ask?

He's probably talking about the high end timeshares such as Marriott, Westin, 4 Seasons, Hyatt, Hilton, Disney and others where the maintenance fees are always higher.

I know that Marriott had a substantial hike in maintenance fees for 2008 and their maintenance fees are now in the $1000+ range.

ken1193 wrote:

donaldd67 states in part: >> I AM 'interested' in HOW the Management of some TSRs can increase their MFs to $1200 and more. << ============================================

Where exactly are maintenance fees that high??? I have owned a handful of coastal U.S. location weeks, at several different resorts, for almost 25 years now. NONE of my annual maintenance fees have yet reached $600, so I'm genuinely curious about the factual basis for your $1200 MF reference (which is more than twice the amount which I pay for any of my weeks). Where exactly might that $1200 MF be, if I may ask?

Many "high end" timeshare MFs - e.g., Marriott, Starwood, Hilton, etc - exceed $1,200. Just a cursory review of Marriott listings on Redweek revealed several Marriott listings at Streamside Vail with MFs in excess of $1,200. The Redweek listings for Marriott Kauai Beach in Hawaii indicated MFs in excess of $1,616. There is one non-Marriott listing in Vail - Streamside Aspen - with a MF of $1,431. Within the last year I sold two timeshares in Vail because the MFs exceeded the fair rental value for summer weeks.

I am in a lot of trouble please help someone. I have a timeshare with vacation village at weston, and i am in desperate need to get rid of it. I got a call from vacation village resort member services, after speaking with the guy about the timeshare i told he i wanted to get rid of it, and that i would even do it for free, just sign it over. He told me he would call me back on his own time , which he did and i agreed to sign over the timeshare to him with a quick quit claim deed that he send me. I filled it out and got it notarized and sent it back and the was it. It has been two months since then and he has not recorded the deed to this day, i can't find him, he won't answer my calls. I don't know what to do, someone please help.

irinap5 wrote:

I am in a lot of trouble please help someone. I have a timeshare with vacation village at weston, and i am in desperate need to get rid of it. I got a call from vacation village resort member services, after speaking with the guy about the timeshare i told he i wanted to get rid of it, and that i would even do it for free, just sign it over. He told me he would call me back on his own time , which he did and i agreed to sign over the timeshare to him with a quick quit claim deed that he send me. I filled it out and got it notarized and sent it back and the was it. It has been two months since then and he has not recorded the deed to this day, i can't find him, he won't answer my calls. I don't know what to do, someone please help.

You have placed yourself in a state of limbo. You are asking for advice after the "horse is out of the barn". It is too late but you should have insisted upon at least a dollar consideration evidenced by a check signed by the donee (buyer) coupled with a signed contract reflecting your agreement. With three documents in hand - a cancelled check for $1 payable to you for the timeshare, a contract signed by the "buyer" indicating his agreement to the transfer and an executed quit claim deed transferring title to him - you should have then recorded the deed yourself in the appropriate county or parish. Then you should have notified the resort and paid the transfer fee to get the title recorded on the resort's books in his name. Having failed to do the above it is a little late to asks for advice.

Still, there may be hope for you. Was there an accompanying letter signed by him when he sent the quit claim deed to you in which he agreed to take title to the property? If so, keep this letter secure for future reference if needed. Then, send a certified letter to him at his last known address notifying him that if he does not record the deed within a stated period of time - e.g.,30 days, you will record a substitute quit claim deed to replace the one he "apparently lost". If you don't have a signed letter from him or at least something signed by him reflecting your agreement you are at his mercy. As I said, you have placed yourself in a state of limbo. He can hold the quit claim deed until he has a buyer and then record it or failing to find a buyer he can just destroy the deed. Folks desparate to rid themselves of an unwanted timeshare are easy prey for this type of scam.