Grand Solmar Lands End

[AAL]

Hi,
We purchased Grand Solmar in Cabo, 1 bedroom, 22 week odd year time share in 2015 and used it just once last year with paying $910 maintenance. This timeshare does not make sense to us and the beach is not safe to swim in that specific area. For that $900, we can find many nice locations in Cabo. We would like to terminate. What is the best way to exit? We still owe about 9K. They did say that no one can sell it for us. Open to suggestions here

 

[PigsDad]

Since this is not a HGVC resort, you might ask the admins to move this post to the appropriate board.

 

[AAL]

Since this is not a HGVC resort, you might ask the admins to move this post to the appropriate board.

Thanks- new member here

 

[GT75]

No problem, I will move to Mexico forum for you.

 

[Eric B]

Is it a deeded week or an RTU? If the latter, you might be able to just abandon it without finishing paying the loan. It would be a hit on your credit, of course, but it's another 9K on an asset you can't sell easily and comes with a recurring cost. They would have the difficulty of pursuing across the border.

 

[AAL]

Is it a deeded week or an RTU? If the latter, you might be able to just abandon it without finishing paying the loan. It would be a hit on your credit, of course, but it's another 9K on an asset you can't sell easily and comes with a recurring cost. They would have the difficulty of pursuing across the border.

Thanks for the advice. It just sucks to take a credit hit

 

[frank808]

Thanks for the advice. It just sucks to take a credit hit

Take a credit hit or pay 9k plus interest and maintenance fee of $910 a year for something you will not use? Me, I would take a credit hit instead of paying ten of thousands of dollars for something i wont use.

Sent from my SM-T217S using Tapatalk

 

[moonstone]

But.... can a Mexican timeshare (or collection agency) collect from an owner living in the US or Canada?

~Diane

 

[Eric B]

That’s their problem; as with any debt, it can be difficult to collect from an uncooperative person. It’s particularly difficult when no goods have changed hands and it’s just the promise of availability of future services; it’s simple for a court to say just don’t provide the future services and call it a day instead of enforcing a Mexican contract. Not meant as legal advice, of course, just an observation on the reality of the costs to them if pursuing someone that has decided not to pay.

 

[PamMo]

I bet the financing is through a U.S. entity, which would certainly ding your credit if you just stopped making payments. Have you tried contacting them to see if you have any options?