# Selling time share problems - HOW DO WE GET OUT??



## RockinMomma (Oct 24, 2010)

My husband and I have had this time share for nearly 10 years.  Sorry to say in all that time we have not been able to use it.  Between going other places on vacation due to work or family and then having a family of our own and not having time or money to travel, it's just sat there.  

We're sick of paying for it and not using it.  

I've tried to sell it on our own for a while now.  No one is biting.  I've even got it priced pretty low to just get it our of our hands and cover what we've paid this year on it. 

We recently read an article in the local paper (in a money matter article) about someone in the same position as us.  They talked about just not paying the yearly dues. 

What will happen if we do this?  Will we just lose the timeshare?  Will it go on our Credit report?  

Please help!


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## djs (Oct 24, 2010)

Your credit would get dinged if you don't pay the fees, and the fees would continue to accrue. 

You might have to give away the timeshare (and even then there's no guarantee that you'll be successful).  Whatever you do, do not pay any company to sell this for you, or you'll be out that money too.


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## AwayWeGo (Oct 24, 2010)

*Better Option Needed Than Just Walking Away.*




RockinMomma said:


> What will happen if we do this?


Click here for a clue. 

If the timeshare is free & clear -- i.e., no money owed on the purchase & all fees up to date -- it's possible the timeshare resort will accept deedback, but it's up to them & certainly not guaranteed that they will.  Can't hurt to call up & ask.  

_Full Disclosure*:*_   We deeded 1 back to the resort this past summer -- called up & asked, they said OK, so we got signatures notarized on quitclaim deed, which we sent back pronto, & that was that. 

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​


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## DeniseM (Oct 24, 2010)

If you quit paying your maintenance fees, they will report you to the credit bureaus, and turn you over to collections.  It will damage your credit rating.

Because of the economy, most timeshares are selling for 0-10% of original retail price, and the market is flooded with cheap and free resales, so it's a terrible time to try to sell a timeshare.

Another option is to give it away yourself - to get rid of the maintenance fees.

*Whatever you do - don't pay someone a high upfront fee to sell it for you - that is ALWAYS a scam!*  Those companies make their money with upfront fees and they have no intention of selling your timeshare.

Here's how to find out what your timeshare is selling for on the resale market:

1) Register with eBay
2) Log into eBay
3) Search for the resort by exact name
4) Click on "completed listings" on the menu on the left

(Be sure you look at the completed listings - those are actually SELLING prices - you will find asking prices all over the place, but what really counts is what they actually sold for.)​
If you poke around a bit, you will see that there are more than 300 timeshares listed on ebay for $0-100 - most with no bids. Many people are having a hard time even giving away their timeshares these days.

If you discover that your TS has no resale value, it may be possible to give it away, if it is paid off, and all your fees are up to date.  

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​
To make it more attractive I would:

1) Pay 2010 (and possibly 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 2010 or 2011 for the new owner​
Good luck!


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## RockinMomma (Oct 24, 2010)

Thanks everyone.  I never thought of calling to see if the company will deedback. 

We don't owe anything on it.  2011 dues are coming up soon.


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## Passepartout (Oct 24, 2010)

If that doesn't work- or even if it does, book a desirable week and either use it yourself or rent it to lighten your financial load.

Welcome to TUG! Many here have just studied the FAQs, asked questions and figured out how to get the most of their timeshare purchase.

Jim Ricks


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## Mausi (Oct 27, 2010)

Hi, 
if you can't sell it then try and give it away. Don't let your Credit go bad because of not paying your MF.


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## RockinMomma (Oct 27, 2010)

Yeah I'm about at that point of just giving it away.  I've got one person nibbling right now, so I'm just waiting a little longer.


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## jl2010 (Oct 27, 2010)

Put it on Ebay and see what you get for it.


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## Villa holiday (Oct 28, 2010)

*keep learning from TUG*

I TOO started the 'get rid of my timeshare before 2011 maint fees are due' odyssey about a month ago. I am now addicted to lurking and learning on TUG.  Well I have learned that I am going to have to continue to fork it out but there are options. Don't be hasty as others have said-your credit will be shot!  First thing to do is reserve the best week 2011-this way you can either rent it out yourself, find a buyer (good luck) or have an agency take over and rent for 40-50% profit to them.   I am trying to find a renter myself-spring break time!  Wish me luck and good luck to you!


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## Villa holiday (Oct 28, 2010)

*best thing I did....*

was to join TUG!  Great info.  Some of the posters get a little opinionated but everyone overall has been very helpful.  AND I thought I knew what I was doing with my TS.  I almost gave it away to a company that was recommended by my resort.  That is when I started to hit the internet and found TUG.


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## MLR (Nov 15, 2010)

*re: How do we get out?*

Same thing with us. We own a floating week, 2BR every odd year on the Big Island and live in the Midwest. It is getting harder and harder to go every other year. Our deed is paid for.

Someone mentioned reserving the BEST week and renting it out. What would be the BEST week on the Big Island in 2011? Maybe a week during Ironman? Xmas? Easter? When? 

I am a newbie here - so can you point me in the right direction if we just want to Give our timeshare away? We have read so much about being 'taken.'

Thanks all


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## DeniseM (Nov 15, 2010)

See post #4 above - it has complete instructions about giving your TS away.

Renting is depressed right now - it's doable, but it takes some work.  I had an Easter week for rent this year, and it never rented even though I advertised it widely.  I ended up giving it away.


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## dan704 (Nov 15, 2010)

Thanks for ALL the posts on this, my wife & I have been contimplenting this issue for months.

We have points w/Wyndham & Bluegreen and 2-Wks w/W'gate Vac Villas, that we have enjoyed w/some of our 14 grandchildren.

Times are tough with Many here in Michigan.
Thanks again, David


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