Getting out of my timeshare

[JB95]

Good morning....we are brand new to TUG. We own two weeks with Sheraton Vistana and one week with Westin. We recently purchased a third week through Sheraton and are looking to get out of our Westin maintenance fees. The sales agent told us to just stop paying the maintenance fees and the HOA will eventually take the week back. I feel a little uncomfortable doing it that way but I don’t really want to pay for a lawyer to get out of it and I don’t want to pay the $1800 maintenance fee. Does anyone have suggestions? Thanks

 

[bnoble]

You have a couple of (realistic) options:

1: Offer the Westin week for free here at TUG. Depending on exactly what week and where, you may have to offer to pay transfer fees, or you may not. Folks in the Sheraton/Westin forums can help you figure that out. https://tugbbs.com/forums/forums/vistana-sheraton-westin-timeshares.51/

2: Follow the sales person's advice and just stop paying. That is likely to involve lots of annoying calls/letters from a collection agency, and possibly a negative entry on your credit report. There may or may not be potential additional consequences for that depending on exactly where you own. See this thread for some of those details: https://tugbbs.com/forums/threads/links-to-official-state-timeshare-laws-and-guides-manuals.298554/

If you imagine needing to borrow money in the next several years (buying a house, car, etc.), it is worth it to try Option #1, even if it costs you a little. Again, depending on exactly what/where you own it might be pretty easy to give away.

 

[bogey21]

Well said @bnoble...

George

 

[JB95]

Thanks for the advice and quick reply’s. It’s paid in full and the sales agent said that there would be no negative credit reporting...allegedly.

 

[Iggyearl]

The sales agent made a commission from you - and it is not his credit score. bnoble's post #2 is good advice. If you don't want to take that credit gamble, there are a complete thread on how to give away timeshares on this site. Plenty of good information.

 

[RX8]

Not surprised by the salesperson’s advice to just stop paying, and making it sound so easy, Salespeople will say anything to make a sale and earn their commission. Sounds like you purchased Sheraton direct from the developer. If you are still in the rescission period my recommendation is to rescind and purchase resale. The thousands saved will help you properly divest of your Westin. If you are past the rescission date, then it is suggested to go with your gut and do the right thing (give it away versus defaulting and taking the risk of a credit hit). While many on TUG recommend defaulting as an option for those that are in financial distress (no job, health issues, etc) this doesn’t appear to be your case.

 

[bnoble]

While many on TUG recommend defaulting as an option for those that are in financial distress (no job, health issues, etc) this doesn’t appear to be your case.

...and it may be very very easy to give away your week. If you have a high-season week in a desirable Westin destination, you will almost certainly find a taker here on TUG for it. If you don't, it might still be pretty easy but the folks in the Vistana/Sheraton/Westin forum will have more of a sense of this.

 

[tschwa2]

Vistana also has a deed back program. They will do up the paperwork and send to you. You do have to be up to date with MF's so you would have to pay 2021 if you have not but you would get 2021 usage.

 

[JB95]

Thanks for all the great advice. Again we are new to TUG so should I post a similar question on the Vistana forum?

 

[rickandcindy23]

Thanks for all the great advice. Again we are new to TUG so should I post a similar question on the Vistana forum?

No, don't post this again.

Who did you recently buy from? What resort, and was it resale? You need to think twice before buying something else from the same company because they won't let you pay the MF's on a desirable purchase and not pay on something you don't want.

 

[JB95]

So we bought two weeks at Sheraton Vistana Orlando from Sheraton Vistana. Then we actually bought from a TUG member many years ago resale one week at Westin Kierland. We sat through our Zoom owners update last November and bought a third week through Sheraton. We have had that resale week for like 10 years and every year they try to get us to get rid of it. Since the maintenance fees are expensive we decided last year to try and just dump it. We only bought it resale for $300 so we aren’t really taking a hit on it if we give it away.

 

[rrsafety]

So we bought two weeks at Sheraton Vistana Orlando from Sheraton Vistana. Then we actually bought from a TUG member many years ago resale one week at Westin Kierland. We sat through our Zoom owners update last November and bought a third week through Sheraton. We have had that resale week for like 10 years and every year they try to get us to get rid of it. Since the maintenance fees are expensive we decided last year to try and just dump it. We only bought it resale for $300 so we aren’t really taking a hit on it if we give it away.

So I am clear, you bought two weeks at retail/developer prices AFTER knowing about the existence of TUG?

 

[JB95]

Yea I guess...it’s a little more complicated maybe...LOL. We purchased about 20 years ago and then learned about TUG from talking with an owner who also used this forum. Many years have passed and I guess we forgot. Came across this again during a google search and then we joined.

 

[theo]

<snip> ....but I don’t really want to pay for a lawyer to get out of it.... <snip>

It has not yet been overtly stated in this thread, so please allow me to add a thought...

NO attorney can magically extract you from the legal obligations of a valid and binding contract, voluntarily executed. Accordingly, it would be wise to understand and accept that any such futile and expensive trip down that particular rabbit hole is simply not among the effective options available to you.