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On The Spot Timeshare Disposal...

Discussion in 'Buying, Selling, Renting' started by beachbum4, Dec 10, 2012.

  1. beachbum4

    beachbum4 TUG Member

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    Has anyone had any dealings with this company? They say they will dispose of your timeshare for $585. Has anyone used them And had success or not so much???
     
  2. Ridewithme38

    Ridewithme38 TUG Member

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    Don't pay anything until the Deed, with the new name is actual registered with the county and accepted by the TS company....If those two things done and the transfer and all paperwork is legit then you're in the clear
     
  3. beachbum4

    beachbum4 TUG Member

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    I don't think they allow that.
     
  4. Ridewithme38

    Ridewithme38 TUG Member

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    How can you pay someone almost $600 on just the word of a website? I wouldn't do it

    Maybe call them up and talk to them, go through how they actual dispose of the TS's and the total cost out the door...I still wouldn't pay till i knew it was done though
     
  5. DeniseM

    DeniseM Moderator

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    This is the problem with these "disposal" companies: many of them have no intention of actually acquiring your timeshare and taking legal ownership. Instead, they plan to deed it to a "Viking Ship" LLC, bankrupt the LLC, and abandon the timeshare. This dumps your maintenance fee on the remaining owners, and makes it difficult and costly for the HOA to reacquire the deed.
     
  6. beachbum4

    beachbum4 TUG Member

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    DeniseM,

    I have tried to contact the resort company to give the deed back as I have had no luck selling it (giving it away). How is this any different?
     
  7. beachbum4

    beachbum4 TUG Member

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    Also, how is this different from letting the foreclose on the unit?
     
  8. Passepartout

    Passepartout TUG Review Crew: Veteran TUG Member

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    Since you registered here just today, I see no evidence that you even listed it in the no cost Bargain Deals section here in this very forum. Seems to me you haven't explored all the low-to- no cost options.

    Best wishes and Welcome to TUG.

    Jim
     
  9. LannyPC

    LannyPC TUG Member

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    Asking the resort to take it back would be a mutual thing and it is quicker and less painful.

    Letting it go into foreclosure is a much longer drawn-out process and more costly. Not to mention, letting it go into foreclosure will likely affect your credit rating negatively.
     
  10. timeos2

    timeos2 Tug Review Crew: Rookie TUG Lifetime Member

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    Then don't allow them to see $1 of your money. It's not hard to do.
     
  11. timeos2

    timeos2 Tug Review Crew: Rookie TUG Lifetime Member

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    If you pay them you have given them money to do something - let it be foreclosed on potentially with a negative mark on YOUR credit despite that payment - for something you could have done for free yourself. So the real question is why spend money you don't have to? Why risk money that may get you less than nothing in return?

    These groups are not out to help anyone except themselves. Don't support them. If your Association will not accept ti back then just tell them to foreclose. You might be surprised that the story will change once you are clear that payment will not be made. Good luck. And don't give them any money prior to proof that they did what they promised in rmoving your name a the legal owner.
     
  12. beachbum4

    beachbum4 TUG Member

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    Jim,

    Valid point. Just know that this is not the only place you can offer to give away something. I have tried several other avenues with no success. So saying you haven't seen it here doesn't mean I wasn't trying. Anyway, I am not opposed to giving this a try as well. Also, thank!s for the welcome
     
  13. DeniseM

    DeniseM Moderator

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    Because it's fraud...

    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.) 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 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 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!
     
  14. beachbum4

    beachbum4 TUG Member

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    DeniseM,

    Thank you for that "not so gentle" reminder of doing what is right isn't always the easiest road! Also, thank you for breaking down the steps to follow to make that happen. I also saw that there was a thread trying to track how successful this process is. I hope to have positive report for you soon.

    Thanks,
    Paul
     
  15. beachbum4

    beachbum4 TUG Member

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    oh, I mean,

    Thanks,
    Beachbum4
     
  16. beachbum4

    beachbum4 TUG Member

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    THIS UNIT HAS BEEN SOLD! Thanks for all the interest.

    Thanks,
    Beachbum4
     
  17. timeos2

    timeos2 Tug Review Crew: Rookie TUG Lifetime Member

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    See? Usually no need to pay these usually fraudulent groups a penny. If you make the reasonable efforts needed there is almost always a taker.

    NEVER PAY ANY UPFRONT MONEY TO ANYONE PROMISING TO "FREE YOU" OF YOUR TIMESHARE!
     
  18. chapjim

    chapjim TUG Member

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    So, how did you sell it? We're dying to know!

    Jim
     

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