Free westgate orlando timeshare

[NikoKritikos]

Hi,
I'm new to all this, last November we bought a timeshare and are not using it so I would like to give it away, the monthly mortgage is $350 and the yearly dues are almost $1000. It has tons of cruises and hotel deals.
Let me know if you want it.

 

[spackler]

Hate to be the bearer of bad news, but you'd have to pay the mortgage off first. Zero chance anyone would accept that with a mortgage attached.

 

[Janann]

the monthly mortgage is $350

Part of the issue is that the title can't be transferred with the mortgage attached, and the other part is that your timeshare probably has very little or no resale value. No one is going to pay $350 per month for something that is valued around zero.

Its kind of like trying to sell a car with a loan attached -- its impossible because the loan is not assumable.

 

[RX8]

Its kind of like trying to sell a car with a loan attached -- its impossible because the loan is not assumable.

Except most cars have a positive value worth thousands of dollars. Having a loan on a car usually doesn't prevent a sale as the new buyer just needs to get a new bank loan themselves (or pay cash) and wait for the title after the seller's loan is paid off.

A better timeshare sale analogy, in my opinion, is that it is kind of like trying to sell an uninsured totaled car that still has a loan on it.

 

[T-Dot-Traveller]

Hi,
I'm new to all this, last November we bought a timeshare and are not using it so I would like to give it away, the monthly mortgage is $350 and the yearly dues are almost $1000. It has tons of cruises and hotel deals.
Let me know if you want it.

Hi @NikoKritikos
Welcome to TUG : Timeshare Users Group
Many of us bought our first timeshare the way you did. The value is in use .

Westgate is a weeks program - your $ 1000 "yearly dues" pays for 7 nights.This is $143 per night
in accomodations that are much nicer than the average hotel room.

You bought 4 months ago in November 2022. It is time to read your contract and learn how to use what you own.
Since you bought from the developer (Westgate) you can use without any of the restrictions they place on resale buyers.