Timeshares for Sale on Ebay

[darrius1st]

I have seen a few timeshares for sale on ebay for 1 cent. Is this real or what?

 

[glypnirsgirl]

It's real. The question is, is it worth the future commitment for the maintenance fees?

elaine

 

[ampaholic]

Yes I have purchased 4 timeshares on ebay for a total bid of $4.00 ($1.00 each) - they have closed just fine and I have already been enjoying them.

Check the closing costs as well!

That said - before you bid I would recommend you research the seller here on TUG and that you make sure the TS is one you want to pay the MF's (maintenance fees) from here on out.

There are only a few rules of thumb that (almost) always apply to timeshare purchasing:

1. Buy Resale - the money you save could send your first born to college
2. It is a LOT easier to buy a TS than to sell one, so choose ones you will be pretty sure to get use out of.
3. The right TS for you may be cheap or it may be expensive (who knows) - but the wrong TS for you will always be expensive.
4. TUG is a great place to learn the ins and outs and to learn how to get the most from your purchase.
5. Start modest - you can always add more later.

 

[e.bram]

6. Buy in a trust, corp or LLC so you can bail with impunity.

 

[AwayWeGo]

Let Your Conscience Be Your Guide.

Buy in a trust, corp or LLC so you can bail with impunity.

No need to trouble yourself over dabbling in fraud.

After all, it's only a timeshare.

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

 

[e.bram]

AwayWeGo;
Yep. Timeshares were conceived by fraud(heretical I know, Mephistopheles is it's father). And still fraught with fraud.

 

[DeniseM]

6. Buy in a trust, corp or LLC so you can bail with impunity.

How is that working for you so far?

 

[ampaholic]

6. Buy in a trust, corp or LLC so you can bail with impunity.

If you take care going in - it is unlikely you will want to "bail". Consider carefully before you set up an (arguably) fraudulent corporation, many AG's frown on that.

Just my $.02

 

[AwayWeGo]

They're Real & They Are Spectacular.

I have seen a few timeshares for sale on ebay for 1 cent. Is this real or what?

Believe it. It is for real.

Not only that, some of the companies offering $1 & 1¢ timeshares on eBay are also giving away timeshares el freebo.

Click here for an example of giveaway timeshares. Take all you want.

Keep in mind that even with freebie timeshares, costs are still involved (e.g., resort transfer fees).

Plus, all timeshare owners are required to pay the ongoing maintenance fees for their units. That applies no matter how much or how little it costs to obtain the timeshares in the 1st place.

Full Disclosure: We bought an eBay timeshare from a company that offers $1 & 1¢ timeshares on eBay. After the dust settled, our winning bid was more like $162, but closing costs & resort transfer were included, as were 3 years of paid-up maintenance fees. We had to pay our winning bid amount + RCI Points transfer fee. We thought it was a good deal at the time. (Still do.) Also, the same year that we bought the eBay timeshare referred to, we gave away two -- 2 -- timeshares -- 1 by deeding it back to the timeshare resort & 1 by giving it to a fellow TUG member.

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

 

[DeniseM]

There are 1 cent timeshares on ebay that are nice timeshares that can provide years of cost effective vacations, and there are 1 cent timeshares on ebay that aren't even worth 1 cent. It takes some research to know the difference, and you don't want to buy one, until you do.

 

[bogey21]

6. Buy in a trust, corp or LLC so you can bail with impunity.

I have done it a little differently. I bought Weeks at small well managed independent Resorts on the cheap, most for less than $500. When it was time for me to divest I was able to deed 3 of them to their respective HOAs. No pain, no strain and no cost.

George

 

[e.bram]

Denise's formula for getting rid of unwanted TSes is actually a way of getting free vacation lodging if you use tip No. 6.(You sought of become a mini PCC).

Denise:
Or is it incumbent(morally) of a disposer using your technique to verify(how) the intention of the TS receiver? Would you recommend a disposer not deed over to anything but an ACTUAL(not trust, corp or LLC) person with an 800 FICO score? Is add it to your recommendation.

ps. Found out about the concept too late.

 

[ampaholic]

6. Buy in a trust, corp or LLC so you can bail with impunity.

I am really curious e.bram have you ACTUALLY tried this out or is this just theory that you want others to do the experiments with?

 

[Ridewithme38]

I am really curious e.bram have you ACTUALLY tried this out or is this just theory that you want others to do the experiments with?

Its an interesting thought...God forbid something happens to you before you are able to get rid or sell all the timeshares that you hold in your name...Your spouse our possibly your children are now stuck with thousands of dollars in MF's that they just don't have the experience as the rest of us to dispose of...Your leaving your children stuck into a legally binding contract with thousands of dollars in fees every year, that they will be stuck with for life

If the TS's are instead in the name of an LLC, Trust or Corporation and only your name is assigned to that LLC, Trust or Corp...it can easily be desolved upon your death and your children won't have to go into bankrupcy because of your choices in travel

 

[DeniseM]

That's not true, as discussed here many times before - heirs are never forced to accept unwanted property, nor are they obligated to pay the maintenance fees.

 

[ampaholic]

Its an interesting thought...God forbid something happens to you before you are able to get rid or sell all the timeshares that you hold in your name...Your spouse our possibly your children are now stuck with thousands of dollars in MF's that they just don't have the experience as the rest of us to dispose of...Your leaving your children stuck into a legally binding contract with thousands of dollars in fees every year, that they will be stuck with for life

If the TS's are instead in the name of an LLC, Trust or Corporation and only your name is assigned to that LLC, Trust or Corp...it can easily be desolved upon your death and your children won't have to go into bankrupcy because of your choices in travel

Debt in general dies with the debtor - COLLATERAL is a whole 'nother story.

 

[ampaholic]

Except debt to the men with guns (government).

 

[Ridewithme38]

That's not true, as discussed here many times before - heirs are never forced to accept unwanted property, nor are they obligated to pay the maintenance fees.

Interesting....I didn't realize that...so if i die, what happens to my TS if my children/spouse aren't on the paper work and don't want it...the Resort HAS to take a deed back? I thought it stayed with the estate until it bankrupted everyone associated with that estate

 

[AwayWeGo]

The Timeshare Resort Does Not Have To Take It Back.

I didn't realize that...so if i die, what happens to my TS if my children/spouse aren't on the paper work and don't want it...the Resort HAS to take a deed back? I thought it stayed with the estate until it bankrupted everyone associated with that estate

It is up to the estate executor to dispose of the ownership lawfully.

Till that's taken care of, the estate cannot be closed out.

So it goes.

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

 

[theo]

The eternally unanswered question...

I am really curious e.bram have you ACTUALLY tried this out or is this just theory that you want others to do the experiments with?

This question has been asked of this particular poster time and time again in these forums, virtually every time this "suggestion" is proferred. Each and every time, the absolute silence of the reply is quite deafening.

It seems reasonable to assume that this individual merely thinks that it's a good idea for someone else to attempt to implement this particular scheme; one which may or may not actually constitute fraud.

 

[Ridewithme38]

It is up to the estate executor to dispose of the ownership lawfully.

Till that's taken care of, the estate cannot be closed out.

So it goes.

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

Isn't that just a fancy way of saying....Your kids(Estate Executors) are stuck with your TS's?

I'm a bit confused...Granted some people go above and beyond with lawyers and professional Excutors when they pass...but those are usually for very large estates....The average person, their estate executors are someone in their family, a child or spouse, Right?

What about those that pass without professionally setup estates...or even Wills....this is alot more common then you'd think

 

[MichaelColey]

Many 1 cent timeshares are overpriced. Tread very carefully.

 

[bogey21]

I believe that heirs can disclaim any inheritance. Seems like then it would the Estate's problem to dispose of it which would likely decrease the value of the estate.

This is what I did. I gave everything of value to my children and ex-wives about 15 years ago. Bank Accounts (which are relatively small) are all JTWROS. My estate will be insolvent because essentially all that remains are the undesirable assests and unsecured debts.

I live on a decent sized pension and social security that will expire with me.

George

 

[AwayWeGo]

I Resemble That Remark.

The average person, their estate executors are someone in their family, a child or spouse, Right?

I was executor of my late father's estate -- handled it D.I.Y. down at the circuit court probate office & the office of the court's commissioner of accounts.

My executorship was not mistake-free -- I had to pay a small fine for missing an accounting deadline -- but I got it done before too long, & I was able to disburse assets to my brother & my sister in accordance with terms of Dad's will without delay.

The Chief Of Staff was executor of her mother's estate. But with all her mom's assets in trust or in joint ownership with The Chief Of Staff & The Chief Of Staff's sister, closing out that estate was simplicity itself.

Full Disclosure: Neither my late father nor my late mother-in-law owned any timeshares, so their estate executors did not have to deal with any of those. Meanwhile, all timeshares owned by The Chief Of Staff & me are deeded in our names plus the names of our (older) son & daughter-in-law, JTWROS. That means when we assume room temperature, the kids take over the timeshares without any estate involvement -- assuming we still own timeshares at the time of death (not a sure thing).

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

 

[Ridewithme38]

My estate will be insolvent because essentially all that remains are the undesirable assests and unsecured debts.

George

Ok so i'm a bit slow...but i think i'm starting to understand...(sorry to use you as an example george)

So in give or take 150yrs when George passes depending on fast food intake...his friend, family member, spouse, lawyer will become executor of his estate...this person will be responsible for finding a legal way to get rid of whatever TS's are held by the estate at this time..Even if this takes this person 10yrs to get rid of the TS....that person will NEVER be resposible for ANY MF's and since the Estate will be insolvent, none can be collected from there?