has anyone here experienced a successful buy-back or deed-back with the HOA or property owner? i need to be educated on the processes involved with such, and whatever fees i might incur, that way i can be more prepared this time around than the first time when a "friend" lured me into such useless, money-draining timeshare.
i would really appreciate all your help here. the maintenance fees are killing me. it keeps me from using whatever money i have to save for retirement
There is no "one size fits all" answer available, and we don't know whether you own within a "chain" (e.g., Wyndham, Hilton, etc.) or at an independent facility, but your best first step is probably to contact the HOA of your resort directly, preferably in writing, to formally ask if they will accept a "deedback" (buy back is not usually a realistic option). Whether the HOA will agree to a "deedback" is always an uncertainty, and what fees might apply if they do agree varies quite a bit. Except for within the "chains", it's really a "resort by resort" and a "case by case" situation and decision. Do
not just blindly accept responses or info from unauthorized desk clerks at the resort, who really have no authority to even address the matter at all in the first place. You must reach the HOA (your HOA President name and address might well be found and retrieved from the newsletter which your facility may send out periodically, as many do).
If you own within a "chain", some "chains" have established deedback programs (Wyndham's "Ovation" program, for example). If you own at an independent facility however, all bets are off, as HOA positions on accepting "deedbacks" vary quite widely. Most
don't accept deedbacks, quite frankly, but you have to ask the right people (HOA President is best) to get a straight and accurate reply on the matter. Good luck.
