I inherited a Breezy Point timeshare and don't have any use for it. The give back timeshare sites seem expensive to get rid of it. I am willing to pay something to get rid of it but would like to minimize my expense and make sure I'm dealing with somebody reputable. Any sugestions on how to accomplish this?
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Liquidating Timeshare
- Thread starter Itasca
- Start date
DeniseM
Moderator
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Hi and welcome to TUG! 
Please consider giving your timeshare away to a private individual who would like to own it, before you spend a cent with a company like this.
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.) 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.:
To make it more attractive I would:
Good luck!
Please consider giving your timeshare away to a private individual who would like to own it, before you spend a cent with a company like this.
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.) 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
-unit size
-season owned
-maintenance fee
-current reservations
To make it more attractive I would:
1) Pay 2011 maintenance fees and don't ask for reimbursement.
2) Pay for the title transfer (you can get a simple professional transfer for about $100) I've used this licensed document Prep. company and the owner is a Tugger. - Note, this is my personal recommendation, not as a representative of TUG.
3) Reserve a popular holiday week in 2011 for the new owner
2) Pay for the title transfer (you can get a simple professional transfer for about $100) I've used this licensed document Prep. company and the owner is a Tugger. - Note, this is my personal recommendation, not as a representative of TUG.
3) Reserve a popular holiday week in 2011 for the new owner
Good luck!
Hi,
I am new to the group and have been given a couple of options for getting rid of my timeshare. I would gladly give it away if someone would take it. Does anyone have any comments as to the best way of doing it?
I contacted donateforacause and they suggested that I liquidate the timeshare using Resort Closings Inc. Works out at a cost of $1600.
Then there is TimeshareLuxury.com and they say they'll take it off my hands for about $5000. I need to put the money in an Escrow account first.
This is such a complex transaction and I find it difficult to trust anyone!!
I look forwrad to hearing your comments.
Kind regards,
Graham
I am new to the group and have been given a couple of options for getting rid of my timeshare. I would gladly give it away if someone would take it. Does anyone have any comments as to the best way of doing it?
I contacted donateforacause and they suggested that I liquidate the timeshare using Resort Closings Inc. Works out at a cost of $1600.
Then there is TimeshareLuxury.com and they say they'll take it off my hands for about $5000. I need to put the money in an Escrow account first.
This is such a complex transaction and I find it difficult to trust anyone!!
I look forwrad to hearing your comments.
Kind regards,
Graham
A few thoughts...
1. Run fast and far (...don't just walk) away from that completely unknown "Timeshare Luxury" outfit.
2. Join TUG ($15) and offer your week (at no additional cost to you as a member) as a "give away" in the "Bargain Deals" forum. Give some thought in advance to who will pay the closing costs, including any "transfer fee" imposed by the resort to process an ownership change (this "transfer fee cost, if any, is separate from and unrelated to deed prep and recording costs, which will be somewhere between $100-$300). You may well have to pay all of those costs yourself to find a willing recipient.
3. Have you already overtly asked the resort if they will take back your week, accepting your "deed in lieu of foreclosure"?. Maybe / maybe not, but maintenance fees will certainly have to be current.
In my opinion, it is highly unlikely that you should have to go so far as to pay Donate for a Cause $1600 to part with your ownership. They are legitimate and they will indeed take the week and get the deed out of your name; I just happen to believe that you can very likely get to that same goal without spending $1600.
1. Run fast and far (...don't just walk) away from that completely unknown "Timeshare Luxury" outfit.
2. Join TUG ($15) and offer your week (at no additional cost to you as a member) as a "give away" in the "Bargain Deals" forum. Give some thought in advance to who will pay the closing costs, including any "transfer fee" imposed by the resort to process an ownership change (this "transfer fee cost, if any, is separate from and unrelated to deed prep and recording costs, which will be somewhere between $100-$300). You may well have to pay all of those costs yourself to find a willing recipient.
3. Have you already overtly asked the resort if they will take back your week, accepting your "deed in lieu of foreclosure"?. Maybe / maybe not, but maintenance fees will certainly have to be current.
In my opinion, it is highly unlikely that you should have to go so far as to pay Donate for a Cause $1600 to part with your ownership. They are legitimate and they will indeed take the week and get the deed out of your name; I just happen to believe that you can very likely get to that same goal without spending $1600.
DeniseM
Moderator
- Joined
- Jun 6, 2005
- Messages
- 57,753
- Reaction score
- 9,154
- Points
- 1,849
- Resorts Owned
- WKORV, WKV, 2-SDO, 4-Kauai Beach Villas, Island Park Village (Yellowstone), Hyatt High Sierra, Dolphin's Cove (Anaheim)
Please read post #2 in this thread.
bogey21
TUG Member
It may be too late, but if the Estate has not been closed, it is simpler to decline the inheritance.
George
post voluntarily deleted -- OP Itasca is in the US and I was intending to respond to the later post from GGLopez in the UK, the location of whose timeshare is not actually identified.
I was essentially going to wonder "out loud" which country's inheritance laws would apply when a timeshare is physically located in the U.S.A., but an "inheriting" recipient is actually a resident of another country (UK, for example, like GGlopez above). I frankly am not at all sure...
I was essentially going to wonder "out loud" which country's inheritance laws would apply when a timeshare is physically located in the U.S.A., but an "inheriting" recipient is actually a resident of another country (UK, for example, like GGlopez above). I frankly am not at all sure...
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