charities

[spiceycat]

okay asked here and got told that the refund on you taxes can only be what the charities sells it for - now have a charity - asking for an appraisal?

is this really a charity?

 

[TUGBrian]

http://www.tug2.net/advice/TUG_Taxes_and_Timeshares.htm

 

[spiceycat]

thanks brian - so I do need an appraisal to donote it.

 

[Bill4728]

thanks brian - so I do need an appraisal to donote it.

Personally, I'd go to ebay and look at completed auctions for the TS I was thinking of donating. If the completed auction were for over $5,000, you need an appraisal. Since, all donations over $5000 need an appraisal. BUT if the completed autions were for under $5K, you do not need an appraisal.

 

[itgrafix]

Has anyone heard of the Timeshare Warehouse Group?

I got an email about them, do they work, is it legit? Let me know if anyone knows anything about them. :

 

[Blue7143]

I am currently looking at donating my timeshare as well. I was just told by a resale company,so uncertain how truthful, that donating is not a good option. If a charity is even willing to accept my timeshare then issues a tax receipt, I will find in 2-5 years I receive a bill for unpaid maintenance fees, because the "donation" wasn't valid/legal or binding. Anyone successfully donated a Timeshare without any problems?

 

[theo]

The past is not the present...

Anyone successfully donated a Timeshare without any problems?

...Not anytime in the past year (or likely anytime in the next year either).

A timeshare "donation" is only of interest to any charity if the charity can very promptly turn the "donation" into cash. If you can't promptly sell your timeshare, chances are the charity can't do so either -- and they don't want the maintenance fee obligations any more than you do.

With the current economic climate and a thousand timeshares offered on eBay every day for pennies and nickels, the likelihood of your finding any charity willing to accept a timeshare donation these days is, unfortunately, very slim indeed. The rare exception would be a highly desirable week / facility and all fees paid and current. If it was highly desirable and in high demand and fitting those criteria, "donation" would not likely be your subject of inquiry.

Donate for a Cause is a reputable avenue, but the above facts still apply. Good luck.

 

[bogey21]

Anyone successfully donated a Timeshare without any problems?

About 5 times, but also not in the last couple years. It used to be that the charity took title immediately thus assuming responsibility for MFs immediately. When the value of the weeks started declining and the charities started having trouble selling the donated weeks they stopped doing this leaving the responsibility for the MFs with the donor until they sold the Week.

Today, if I wanted out of a Week with certainity, I would either sell it on the cheap or give it away, paying the costs of the transfer and handling the transaction myself.

George

 

[Blue7143]

Thank you Theo & Bogey21 for replying to my message.

Just to let you know "donation" was my query as researching resales is very confusing. There are alot of companies, and a lot of upfront fees. We are very inexperienced with timeshares (have only had one for 1 year) Decided that we are not going to be utilizing it as much as we thought we would during the sales pitch, we are choosing to sell/donate/give away to someone who will utilize it as it was a great resort when we were there.

Anyways..thank you both for your responses.

 

[Dave M]

Please, please, please carefully read the "How to Sell" article located at the top of the list of topics for this Buying, Selling, Renting forum before signing up with any resale company. There are many resale scams, including most upfront-fee requests. There are also many legitimate resale companies, which you can find out about in the article or in the separate list of resale companies - also located at the top of the list of topics for this forum.