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I want to give away my Timeshare

Discussion in 'Buying, Selling, Renting' started by beauxdeigh, Jun 24, 2012.

  1. beauxdeigh

    beauxdeigh Guest

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    Hi,

    Complete noob here, looking for some guidance.

    My wife and I bought into a timeshare about 10 years ago. Since that time our lifestyle has changed and our family has grown and the property no longer fits us. We want to let it go.

    I recognize that resale values of timeshares are effectively zero in most cases. We've long since paid it off, so we're not trapped under a loan. I'm willing to give it away, but I'm not sure where to start.

    [Specifics deleted] Do I need to contact Diamond before being able to sell the property?

    Also, what paperwork do I need to have in place before finding a "buyer" and what paperwork is needed to complete the exchange?

    Is there any advice regarding Diamond specifically? We want to make this process as smooth as we possibly can.

    Thanks for any help.

    Jonathan
     
    Last edited by a moderator: Jun 24, 2012
  2. pacodemountainside

    pacodemountainside TUG Member

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    You will probably get phone calls from resale scammers offering to have it sold next week for thousands if you wire say $995 to them. Hang up

    PCC guys may contact and for 3 years MF , $2K-$3K , whatever take off your hands. Kinda expensive.

    So, advertise here, possibly do own e-bay ad, craigslist(beware of scammers) who want up front closing cash or send certified check and you wire overpayment somewhere.

    Doesn't hurt to call resort and plead your case that you can't afford/use and want to give them first crack.

    No easy solution. Look at your competition and price accordingly!
     
  3. Gophesjo

    Gophesjo TUG Review Crew: Veteran TUG Member

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    Do you have the original deed you received when you bought your TS? Finding it is a good place to begin. You WILL want to find out from Diamond what their fee for 'transferring' title is (only in their records because actual title is governed by the recorded deed). There are several closing services discussed and reviewed on this Board who can help you with all the rest. Good luck to you...
     
  4. beauxdeigh

    beauxdeigh Guest

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    We've already received a couple of these. We didn't bite. I'm not giving anyone hundreds of dollars without a guarantee of performance.

    What's PCC?

    I planned on advertising here. Is eBay worth the time?

    Does that work? Does anyone have any experience with Diamond doing a 'Deed-Back'?

    No argument there. I want to give it away to someone who will use it.
     
  5. beauxdeigh

    beauxdeigh Guest

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    Find the deed. Check.

    Title transferring fee. Hooray.

    Closing service. Is there a list somewhere?

    Thanks.
     
  6. Cheryl20772

    Cheryl20772 TUG Member

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  7. pacodemountainside

    pacodemountainside TUG Member

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    Quote:

    Originally Posted by pacodemountainside

    PCC guys may contact and for 3 years MF , $2K-$3K , whatever take off your hands. Kinda expensive.

    What's PCC?


    They are guys/gals that procure the listings you see on e-bay. They send out tons of post cards(about 1/2 cost of first class mail). They have you call and sent up an appointment when they are in your area next week. Gal answering phone does not know nothing-just makes reservations. Often offer a $20 gas voucher or similar.

    Meet with you in hotel/motel and are so sympathetic to your plight and agree Wyndham sales scammers should be boiled in oil!

    Fortunately, they have a magic solution, you just give them a couple grand and quit claim your deed to them and you are a free person. No more MF, resale scammers, etc. Take your spouse out to dinner tonight and celebrate!
     
    Last edited: Jun 24, 2012
  8. beauxdeigh

    beauxdeigh Guest

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    I probably did, but I've read a lot in the last couple of weeks. Thanks for pointing that out to me.

    Are there any other closing services I should consider? Any I should avoid?
     
  9. Jaybee

    Jaybee TUG Member

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    I think that PCC's are Post Card Companies. They love to send out post cards with a lot of phony bait.
     
  10. Passepartout

    Passepartout TUG Review Crew: Veteran TUG Member

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    Beau, just list it up above here in the Bargain Deals sub-forum. Just follow the basic outline (resort, size, season, number of points, MF, transfer cost- whether buye or you will pay, you may sweeten the pot by booking a desirable week for the new owner). You will want to revisit your ad, Say weekly or so to bump it up.
    Look in the TUG BBB for a reputable closing agent if you don't want to DIY.

    Good luck! Welcome to TUG. Yours is a nice resort in Sedona, but we already own one in town. :)

    Jim Ricks
     
  11. beauxdeigh

    beauxdeigh Guest

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    Actually, that was my sales plan. I just wanted to be sure that I had checked as many of the pre- and post- sales boxes as I could before I started. I didn't want to wind up missing a vital piece of information and not be able to close the deal.

    I work with a mechanic when my car needs repair. I work with a tax accountant every March, once all of our documents have come in. I'm a firm believer in working with the right expert for the right job.

    Then I'm scratching your name off of my list, Jim. See if I send you a Christmas card. :)
     
  12. DeniseM

    DeniseM Moderator

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  13. beauxdeigh

    beauxdeigh Guest

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    Thanks, I read that one, too. I plan to follow it exactly once I'm ready to list it. I just wanted to make sure I have everything I need before I jump in, because I don't want to be perceived as an untrustworthy seller if I forgot something.

    I'll call Diamond tomorrow and get the xfer fee amount and any other info they're willing to give up. I'll make sure I have the deed in hand. Then I'll post it in the Bargain Deals forum as per your excellent advice.

    I'll probably contact a closing service ahead of time to find out what they'll need.

    Any other advice?
     
  14. Cheryl20772

    Cheryl20772 TUG Member

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    If you feel that you need someone to hold your hand through the process, there are some licenced timeshare resale brokers. Find one on this site http://www.licensedtimeshareresalebrokers.org/member-directory.php?curr_page=1

    We have some members of their group on this forum (not me).
     
  15. DeniseM

    DeniseM Moderator

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    There are definitely some good brokers on TUG, but using a broker will add $1,000 to the cost, and for a free timeshare this will either mean that the owner will shoulder the cost, or it won't be free.

    A reputable deed transfer is all that is really needed.
     
  16. BocaBum99

    BocaBum99 TUG Member

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    Go through your entire process. If you cannot give it away, there are good service providers who will help liquidate your timeshare for under $1000. Just keep looking, many are listed in the threads quoted on this thread.
     

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