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Getting rid of my timshare without cost to me

Discussion in 'Buying, Selling, Renting' started by mnmkolst, May 13, 2013.

  1. mnmkolst

    mnmkolst Guest

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    From what I have seen and read, there is no way to get out of a timeshare without some type of cost to me. I would give it to some one if they would take care of the charges. Suggestions?

    [details deleted to comply with no advertising rule]

    How do I get rid of it?

    Mike
     
  2. DeniseM

    DeniseM Moderator

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    Please consider giving your timeshare away on TUG, to a private individual who would like to own it.

    Why?
    -You can give it away yourself for nearly no cost.
    -You can control the transfer process to make sure it is truly transferred out of your name.
    -You won't have to deal with companies that may or may not be Legit.
    -You can transfer it to a private individual who will be happy to have it for their own use.
    -You will have the satisfaction of knowing that you ended your ownership legally and ethically.

    There are TWO places on TUG where you can give away your TS's for free (no charge for the Ads.) THEY ARE COMPLETELY DIFFERENT - SO YOU SHOULD POST IN BOTH AREAS. There are other cheap and free sites on the internet, as well.

    TUG Marketplace - the only cost is your TUG membership - $15 (List it for $1 and it will automatically go in the Bargain Basement Ads.)

    Bargain Deals - Totally FREE! - just write a simple post with all the pertinent info. In your post, include the following info.:
    -resort name
    -unit size
    -season owned
    -maintenance fee
    -current reservations​

    To make it more attractive I would:

    1) Pay the 2013/2014 maintenance fees and don't ask for reimbursement.

    2) Pay for the title transfer (you can get a simple title transfer with no escrow or title search for about $100.) Many Tuggers (including me) have been using Legal Timeshare Transfers, a no frills document preparation company, and they are receiving good reviews on TUG.:

    Legal Timeshare Transfers/Ready Legal
    Lisa Short and Mary Pless
    http://legaltimesharetransfers.com/
    1.706.219.2709

    3) Reserve a popular holiday week in 2013/14 for the new owner

    4) Instead of paying a fee to a rescue company - consider offering a cash incentive to the new owner.

    5) Here is the very important step that most people miss: Come back to TUG once a week and add more info. to your thread - this will bump it to the top of the page.


    Good luck!
     
    Last edited: May 13, 2013
  3. Passepartout

    Passepartout TUG Review Crew: Veteran TUG Member

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    List it in the Bargain Deals in this forum. Just follow the basic outline as the rest. Resort, size unit, week, MF, current? Who pays closing? Etc. Sounds like a nice week. Is it reserved this year? Someone will give it a good home.

    Jim
     
  4. bogey21

    bogey21 TUG Member

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    Try calling the Resort and see if they will take it back via a deed back. Be prepared with a good reason you can't afford to keep it as the first thing out of their mouths is that they don't allow it. But it is worth a try. It wasn't easy but I got rid of 4 Weeks via deed backs.

    George
     
  5. Ron2

    Ron2 TUG Member

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    I can personally attest to the value of posting your timeshare on TUG for sale or for free. I tried for over a year to give one away and even checked into Donate for a Cause (expensive alternative) without any success. This past December I was introduced to TUG where I found success at last. This was my post when the sale was finalized: http://www.tugbbs.com/forums/showthread.php?t=189460
    You can’t go wrong with TUG. The $15 membership fee is a bargain and the folks on here provide valuable advice. Good luck! :)
     
  6. csxjohn

    csxjohn TUG Review Crew: Veteran TUG Member

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    I recently gave two away at no cost to me and one that cost me a few hundred to get rid of.

    The one I gave away here on TUG took one day in the bargain deals forum.

    It will depend on what you own and how badly someone wants it.

    In my case the buyer paid the closing costs and resort transfer fee.

    If I had no takers I would have eventually offered to pay the closing costs then offer a free weeks usage.

    Everything will depend on how badly you want out.

    What ever you have to pay to get out can be considered part of what you paid for the TS to begin with. What's a few hundred $ between friends anyhow?
     
  7. LannyPC

    LannyPC TUG Member

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    Ditto to what others have said above but I will also add this warning.

    Watch out for various transfer or "Viking Ship" companies or supposed law firms that promise to get you out of your timeshare ownership if you pay them some sort of hefty, upfront fee.

    You may see their Google ads on timeshare-related websites with slick-sounding promises. If you look at threads such as these (long ones):

    http://tugbbs.com/forums/showthread.php?t=191192

    http://tugbbs.com/forums/showthread.php?t=190167

    you'll see that that these could lead to unwanted and unexpected trouble.
     
  8. TUGBrian

    TUGBrian Administrator

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    cleaned up the nonsense here...again
     
    Last edited: May 14, 2013
  9. mnmkolst

    mnmkolst Guest

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    Thanx for all the ideas. I will check each carefully.
    I did contact Festiva. I was told there would be a $225 charge for deed transfer. That is reasonable.
    I asked about release. The charge is twice the maintenence fee. I thought that was a bit too much. What do you think?
    I have not "banked" the week yet and need to get that done, if I don't get out of this unit.

    This week, I will join Tugg ($15) and get it listed, too.
    Mike
     
  10. buzglyd

    buzglyd TUG Member

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    I think there are a few management companies now using this type of model. A deedback with prepaid maint fees.

    It give the HOA some breathing room while they can market and resell the week.
     
  11. theo

    theo TUG Review Crew: Veteran TUG Member

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    My $0.02 worth...

    I realize and understand that "paying out of pocket just to get out" is not an option with a particularly pleasant or palatable taste, but I will nonetheless just remind you that many ownerships offer no such legitimate and responsible option at all --- at any price. I'd probably be inclined to take advantage of that option while it's even still offered and available to you; it might very well "go away" without any notice.

    Frankly, a Festiva ownership may be very hard to sell --- or perhaps to even give away for free, but it might still be worth a very brief attempt to give it away for free as a TUG "Bargain Deal", while presumably offering to pay the closing costs and transfer fees yourself.

    Personally, I'd give very serious consideration to "biting the bullet" and dealing directly with Festiva to just get "out" quickly, ethically, cleanly and expediently, despite the clearly unwelcome "out of pocket" cost.
    Any and all other options and approaches will necessarily involve additional time --- with uncertain results.

    In the final analysis, it's your decision and your call. Good luck with whichever exit route you choose.
     
    Last edited: May 15, 2013
  12. DeniseM

    DeniseM Moderator

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    I think this is a fair offer. Remember someone has to pay the maintenance fee while they are trying to resale your timeshare. If you don't pay it - the other OWNERS will have to cover it.
     
    Last edited: May 15, 2013
  13. bogey21

    bogey21 TUG Member

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    Agee. Take the deal and do it quickly. Who knows whether it will be there next week or not.

    George
     
  14. timeos2

    timeos2 Tug Review Crew: Rookie TUG Lifetime Member

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    If the OP is interested in properly disposing of their property then the offer is a good one.

    This also again proves that no matter what a resort offers it is never enough to ensure that those looking for an easy out will take it. They want others to handle all the work and expense that rightfully is theirs to do.
     
  15. csxjohn

    csxjohn TUG Review Crew: Veteran TUG Member

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    Everything depends on how badly you want out!

    You could offer it for free here but the offer you have been given may not last long.

    If they are willing to take it back you may very well be able to give it away for less than MFs X 2.

    When I gave mine away I was not desperate but things changed and it was time to make some changes myself. I planned to continue using them until I was able to unload. Personally I would not have paid 2 MFs. I had an offer to pay $1,000 plus transfer costs. I ended up paying about half that and it wasn't a very desirable week/unit.
     
  16. ttt

    ttt TUG Member

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    Great advise, thanks...took 3 requests, but after telling the resort that I would join the ranks of delinquent owners, I received a deed to sign it back to the resort.:D
     
  17. TUGBrian

    TUGBrian Administrator

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    there are definitely folks out there who take offense (on both sides) to folks listing at high prices, or folks making low ball offers.

    I personally dont mind any inquires on anything im selling, or making any offer on something I want to buy.

    Clearly in all situations the ad still running points out that noone has satisfied your current asking price!

    I suppose its just the anonymity of email...as most people face to face would politely say no thank you.
     
  18. Ken555

    Ken555 Tug Review Crew: Rookie TUG Member

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    Well said.
     

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