Exiting Vacation Village Timeshare Contract

[Konigin118]

Does anyone have information on how to exit a contract with Vacation Village in Orlando? Or know how to find reputable lawyers in Florida to help with canceling a contract? I was manipulated into a contract a couple years ago and am eager to find a legal way to cancel this contract. I understand that I am outside of the ten-day cancelation window, and the resort has said no to my request to give the timeshare back to the company (admittedly I have only asked once and did not push very hard). Any and all information is welcome and very much appreciated!!

 

[TUGBrian]

VV is a tough one...it has literally zero resale value and TONS of owners all looking to get out and offering their ownerships up for free on the resale market.

sadly there is no "legal way" to cancel your contract short of defaulting or finding someone willing to take over your ownership.

plenty of folks out there who will charge you thousands of dollars to tell you otherwise though!

 

[Konigin118]

What exactly happens when you default then?

 

[TUGBrian]

depends on the resort...if you still owe on the mortgage...etc etc

https://tug2.net/timeshare_advice/stop_paying_for_timeshare.html

 

[Fredflintstone]

VV is a tough one...it has literally zero resale value and TONS of owners all looking to get out and offering their ownerships up for free on the resale market.

sadly there is no "legal way" to cancel your contract short of defaulting or finding someone willing to take over your ownership.

plenty of folks out there who will charge you thousands of dollars to tell you otherwise though!

Brian,

In your opinion, why do some resorts hold better resale value than others? I do know one of the reasons is because some resorts have great amenities. However, I have stayed at the Grandview in Las Vegas and Parkway and both places were very nice with good amenities.

Could it be purely brand driven? Perhaps....


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[TUGBrian]

Id say most(if you define most as 50% or more) dont hold any resale value if you look at it on a scale comparing ALL timeshares.

just with most products, nicer ones are worth more and thus on average marriotts/hiltons/etc have some semblance of resale value...and they are helped by the brand name everyone knows and trusts. (disney is another example of an example that bares zero resemblance to anything else in the playing field)

however you will find that even in those brand name systems (dvc excluded) there are worthless timeshares that struggle to even be given away given the annual maint fees are at or higher than you can rent those weeks for as a non owner.

thus is the problem with painting the industry with such wide strokes...there is always an exception to the rule...but making claims based on those exceptions simply doesnt work for the vast majority of owners!

other developers do their owners no favors by penalizing resale buyers and driving those values to below zero levels (diamond, holiday inn, westgate all come to mind)...until those companies make some drastic changes...they will continue to drive countless thousands of desperate owners right into the jaws of the scammers simply because they arent provided with any other good options.

 

[LannyPC]

In your opinion, why do some resorts hold better resale value than others? I do know one of the reasons is because some resorts have great amenities.

I'm not Brian but I'll offer my two cents' worth. I would base resale value on the ration of what an interval can fetch for a rental to MFs. So IOW, if an interval can easily be rented out for, say, $1500 and the MFs are only $1000, then it has good resale value. OTOH, if the MFs are $1000 but owners are struggling to find renters who will pay even just $800 (see TUG's Last Minute Rentals section for some examples), then it has negative value.

Or let's put it this way. In the first example, I would possibly gladly buy something where I only pay $1000 to use it rather than paying another owner $1500. Whereas, in the second example, why would I buy something and pay $1000 to use it when I can easily find another owner who will be bowing down before me to pay him only $800 to use it?

 

[PaulT]

This is exactly why I stopped owning T/S's years ago and just rent them when I want to go on a vacation. Most of the time I travel on off-season so finding a reasonably priced t/s to rent isn't a problem. The rentals may not be the top-tier brand names all of the time, but there are good choices out there. I have rented Wyndham , Worldmark and Marriott t/s's (plus others) for far less than their maintenance fees and didn't have to pay exchange company membership or exchange fees. I know this isn't for everyone, but if you travel on off-season or shoulder season, renting can be a good value. As an example, a few years ago, I stayed at the Wyndham Kona Hawaiian (next to the Worldmark) during July and I paid $600 for the week in a 2 bedroom unit.