Capital Vacations Graceful Exit

[rockhill30]

Hello All,

I recently got rid of my timeshare through Capital Vacations Graceful Exit and thought I would share the experience for anybody thinking of doing the same. I have had a Silver Lake FL timeshare since 2009. I bought it for closing costs and picked it up just to use the 89,000 EOY RCI points. I have never actually been to Silver Lake. With the recent increase in fees, assessment, and poor financials I decided it was time to cut my losses. In recent years I have tried to sell it with no luck. I would not even give it away now unless the person wanting it understood how bad the financials are and that more MF increases and assessments are probably on the way. The process to sign the deed over was surprisingly smooth. The steps I took were:

* fill out a form on the Capital Vacations website. The website claims that somebody will contact you within 72 hours but this did not happen.
* three weeks later I received a letter telling me that I could send two checks. One for $480 to Capital Vacations to handle the process. One for approximately $1,500 to Silver Lake which was a year of maintenance fees. I thought they would ask for two years. I assume I only had to pay one year because it is an EOY timeshare.
* I mailed the checks. Three weeks later I received the deed transfer form. It needed to be signed, witnessed, and notarized.
* I completed the form as requested and mailed it back. Three days after the tracking number showed delivery Capital Vacations recorded it with the Osceola County FL clerk. I was able to access the record on the Osceola website to confirm that it was filed.

I was OK with the cost because that seems to be about the going rate for many who want to get rid of a timeshare. The owner offers to pay closing costs and the next maintenance fee.

Capital Vacation has been filing a lot of these recently. You can see them by searching the Osceola County FL website at https://officialrecords.osceolaclerk.org/browserview/.

I plan to keep my RCI account because they have some pretty good deals on extra vacations. In many cases it is a lot less expense to pay for an extra vacation compared to paying a maintenance fee and then using your points to book a week.

I may have been premature in paying money to dump it, but I have no regrets. I got great value out of the timeshare until recent years. I will still have my favorite timeshare, which is Trapp Family Guesthouses, will buy extra vacations from RCI, and will rent from others when I see a good deal.

Kevin

 

[TUGBrian]

thank you for providing a detailed update on the capital resorts exit program!

 

[mdrxc@01]

Hello All,

I recently got rid of my timeshare through Capital Vacations Graceful Exit and thought I would share the experience for anybody thinking of doing the same. I have had a Silver Lake FL timeshare since 2009. I bought it for closing costs and picked it up just to use the 89,000 EOY RCI points. I have never actually been to Silver Lake. With the recent increase in fees, assessment, and poor financials I decided it was time to cut my losses. In recent years I have tried to sell it with no luck. I would not even give it away now unless the person wanting it understood how bad the financials are and that more MF increases and assessments are probably on the way. The process to sign the deed over was surprisingly smooth. The steps I took were:

* fill out a form on the Capital Vacations website. The website claims that somebody will contact you within 72 hours but this did not happen.
* three weeks later I received a letter telling me that I could send two checks. One for $480 to Capital Vacations to handle the process. One for approximately $1,500 to Silver Lake which was a year of maintenance fees. I thought they would ask for two years. I assume I only had to pay one year because it is an EOY timeshare.
* I mailed the checks. Three weeks later I received the deed transfer form. It needed to be signed, witnessed, and notarized.
* I completed the form as requested and mailed it back. Three days after the tracking number showed delivery Capital Vacations recorded it with the Osceola County FL clerk. I was able to access the record on the Osceola website to confirm that it was filed.

I was OK with the cost because that seems to be about the going rate for many who want to get rid of a timeshare. The owner offers to pay closing costs and the next maintenance fee.

Capital Vacation has been filing a lot of these recently. You can see them by searching the Osceola County FL website at https://officialrecords.osceolaclerk.org/browserview/.

I plan to keep my RCI account because they have some pretty good deals on extra vacations. In many cases it is a lot less expense to pay for an extra vacation compared to paying a maintenance fee and then using your points to book a week.

I may have been premature in paying money to dump it, but I have no regrets. I got great value out of the timeshare until recent years. I will still have my favorite timeshare, which is Trapp Family Guesthouses, will buy extra vacations from RCI, and will rent from others when I see a good deal.

Kevin

Thanks for posting your experience. I just now started the graceful exit process this week. I'm waiting for the exit quote to be mailed. The customer service rep said that can take 60 days. Seems like a tactic to stretch into next year and be on the hook for another year's maintenance fee. My membership (mortgage) is fully paid and 2025 maintenance fees also paid. An exit company wants $5k to help get me out of the contract. The price you paid to Capital Vacations is certainly more reasonable.

 

[theo]

An exit company wants $5k to help get me out of the contract. The price you paid to Capital Vacations is certainly more reasonable.

I am certainly no fan of Capital Vacations (to say the very least) but their exit program, while costly, is at least legitimate.

Please understand very clearly that NO so-called "exit company" anywhere on Planet Earth can possibly "help get you out of the contract". The only "help" you will receive from that (or from any other) "exit company" is "help" in reducing your bank account balance by the $5k figure you have cited.

 

[BLM#57]

Hello All,

I recently got rid of my timeshare through Capital Vacations Graceful Exit and thought I would share the experience for anybody thinking of doing the same. I have had a Silver Lake FL timeshare since 2009. I bought it for closing costs and picked it up just to use the 89,000 EOY RCI points. I have never actually been to Silver Lake. With the recent increase in fees, assessment, and poor financials I decided it was time to cut my losses. In recent years I have tried to sell it with no luck. I would not even give it away now unless the person wanting it understood how bad the financials are and that more MF increases and assessments are probably on the way. The process to sign the deed over was surprisingly smooth. The steps I took were:

* fill out a form on the Capital Vacations website. The website claims that somebody will contact you within 72 hours but this did not happen.
* three weeks later I received a letter telling me that I could send two checks. One for $480 to Capital Vacations to handle the process. One for approximately $1,500 to Silver Lake which was a year of maintenance fees. I thought they would ask for two years. I assume I only had to pay one year because it is an EOY timeshare.
* I mailed the checks. Three weeks later I received the deed transfer form. It needed to be signed, witnessed, and notarized.
* I completed the form as requested and mailed it back. Three days after the tracking number showed delivery Capital Vacations recorded it with the Osceola County FL clerk. I was able to access the record on the Osceola website to confirm that it was filed.

I was OK with the cost because that seems to be about the going rate for many who want to get rid of a timeshare. The owner offers to pay closing costs and the next maintenance fee.

Capital Vacation has been filing a lot of these recently. You can see them by searching the Osceola County FL website at https://officialrecords.osceolaclerk.org/browserview/.

I plan to keep my RCI account because they have some pretty good deals on extra vacations. In many cases it is a lot less expense to pay for an extra vacation compared to paying a maintenance fee and then using your points to book a week.

I may have been premature in paying money to dump it, but I have no regrets. I got great value out of the timeshare until recent years. I will still have my favorite timeshare, which is Trapp Family Guesthouses, will buy extra vacations from RCI, and will rent from others when I see a good deal.

Kevin

Thanks for posting this about the exit fee transfer, we own a warranty deed property at Stormy Point in Branson Mo. we want to deed back, it is also $480 , I will call the exit hotline and check what it costs with the MF attached, we also purchased a Capital Vacations Timeshare and we want out of it also, we are ready to get rid of the package, we have contemplated to just stop paying MF's our loans are all paid off, I don't want to try and sell the deeded property, like you I just want to cut my loses and get out of all the Timeshare business.
B

 

[lilandy]

Where is the form on the website? Can someone provide a link?

 

[TUGBrian]

sticky at the top of the page: https://tugbbs.com/forums/threads/h...et-out-of-a-capital-resorts-timeshare.291397/

 

[Antunalu]

Hello All,

I recently got rid of my timeshare through Capital Vacations Graceful Exit and thought I would share the experience for anybody thinking of doing the same. I have had a Silver Lake FL timeshare since 2009. I bought it for closing costs and picked it up just to use the 89,000 EOY RCI points. I have never actually been to Silver Lake. With the recent increase in fees, assessment, and poor financials I decided it was time to cut my losses. In recent years I have tried to sell it with no luck. I would not even give it away now unless the person wanting it understood how bad the financials are and that more MF increases and assessments are probably on the way. The process to sign the deed over was surprisingly smooth. The steps I took were:

* fill out a form on the Capital Vacations website. The website claims that somebody will contact you within 72 hours but this did not happen.
* three weeks later I received a letter telling me that I could send two checks. One for $480 to Capital Vacations to handle the process. One for approximately $1,500 to Silver Lake which was a year of maintenance fees. I thought they would ask for two years. I assume I only had to pay one year because it is an EOY timeshare.
* I mailed the checks. Three weeks later I received the deed transfer form. It needed to be signed, witnessed, and notarized.
* I completed the form as requested and mailed it back. Three days after the tracking number showed delivery Capital Vacations recorded it with the Osceola County FL clerk. I was able to access the record on the Osceola website to confirm that it was filed.

I was OK with the cost because that seems to be about the going rate for many who want to get rid of a timeshare. The owner offers to pay closing costs and the next maintenance fee.

Capital Vacation has been filing a lot of these recently. You can see them by searching the Osceola County FL website at https://officialrecords.osceolaclerk.org/browserview/.

I plan to keep my RCI account because they have some pretty good deals on extra vacations. In many cases it is a lot less expense to pay for an extra vacation compared to paying a maintenance fee and then using your points to book a week.

I may have been premature in paying money to dump it, but I have no regrets. I got great value out of the timeshare until recent years. I will still have my favorite timeshare, which is Trapp Family Guesthouses, will buy extra vacations from RCI, and will rent from others when I see a good deal.

Kevin

It worked exactly the same for me thankfully, but I do have another unit even years only and they want $3200 plus the $480 to deed this one back. Two years ago I gave $2200 plus the $480 for an every year unit. I do not plan to spend that much to deed it back this time after I had for 35 years. I am thinking to just voluntarily foreclose since I’m not worried about my credit dropping some. Still deciding.