Getting rid of Coral Reef (Palmera) in Hilton Head, SC

[Chris_M]

Hello Everyone:

So I've come to the conclusion that a Coral Reef timeshare in Hilton Head that I inherited 14 years ago is not as easy to get rid of as I initially thought. I've seen several classifieds essentially offering it for $1 and/or for free with zero takers.

The timeshare is fully paid off and all maintenance fees have been paid each year,

From what I understand...

Palmera does not have a deed buyback program, so there is no way to simply relinquish the timeshare back to them.

Coral Reef is not a desired timeshare where someone would buy the timeshare on the resale market.

I'm going to be putting together a Will soon and from reading comments definitely should not include it... basically telling my kids to let it go into foreclosure. Because I have other assets that they will inherit... will having the timeshare go into foreclosure when I'm dead penalize my kids oe the estate?

Has anyone hired a timeshare exit lawyer and successfully exited Coral Reef?

Has anyone hired a time share exit company and successfully exited Coral Reef?

It's not a situation where I need to exit immediately... but I'd like to know if there are other Coral Reef owners who have successfully exited the timeshare and the best way to go about it in regards to Coral Reef specifically.

I've basically already offered it for free to anyone I know, but understandably in these times no one thus far has been interested in committing themselves to a yearly maintenance fee.

Thanks in advance for any help and/or insights.

 

[Fido Chuckwagon]

Has anyone hired a time share exit company and successfully exited Coral Reef?

These are all scams. Every single one of them. Under no circumstances should you hire one.

Just stop paying the maintenance fees. I’d do this now, I wouldn’t wait till after death, you don’t want your heirs to have to deal with the headache. Eventually the resort will foreclose. There’s a (small) possibility of a credit hit, but since it’s only unpaid maintenance fees and not a loan, more likely than not you won’t see a credit hit based upon anecdotal reports on this forum.

 

[jp10558]

I'd still suggest listing it for free on the free timeshare giveaway forum here on TUG - it's possible somebody may want it.

 

[bnoble]

Depending on when it is, you may well be able to find a willing taker here on TUG. Try this:

How can I give away my timeshare on TUG for Free?

Before you pay an upfront fee to someone to "take your timeshare off your hands," please consider giving your timeshare away to a private individual who would like to own it. Why? -You can give it away yourself for nearly no cost. -You can control the transfer process to make sure it is truly...

tugbbs.com

 

[silentg]

Have you tried renting it? What week is it?

 

[Chris_M]

Have you tried renting it? What week is it?

Have not tried renting yet. I've banked the week with RCI each year.

May paperwork says Gold Season, Week 10, annual usage room type 2 BR Sun Pet

 

[Chris_M]

Depending on when it is, you may well be able to find a willing taker here on TUG. Try this:

How can I give away my timeshare on TUG for Free?

Before you pay an upfront fee to someone to "take your timeshare off your hands," please consider giving your timeshare away to a private individual who would like to own it. Why? -You can give it away yourself for nearly no cost. -You can control the transfer process to make sure it is truly...

tugbbs.com

Will definitely read through that thread. Thx for the suggestion.

 

[bnoble]

That's not a half-bad week. RCI will give you 26 trade power units for it. March isn't high season on HHI, but it can be a nice time to visit. I bet someone would take it off your hands unless for some reason the annual fees were way out of line.

 

[TUGBrian]

here is how your exit company will get you out....

The Dirty Secret Behind Timeshare Exit & Cancellation Companies

Discover the truth about timeshare exit and cancellation companies from the most trusted source of timeshare owner information, backed by over 30 years of experience

tug2.net

 

[TheTimeTraveler]

Have not tried renting yet. I've banked the week with RCI each year.

May paperwork says Gold Season, Week 10, annual usage room type 2 BR Sun Pet

A week in March may be very difficult to unload, however try placing it on eBay for $1 and let the high bidder buy it (even if it's one dollar).

Best of luck!







.

 

[vacation911]

Hello Everyone:

So I've come to the conclusion that a Coral Reef timeshare in Hilton Head that I inherited 14 years ago is not as easy to get rid of as I initially thought. I've seen several classifieds essentially offering it for $1 and/or for free with zero takers.

The timeshare is fully paid off and all maintenance fees have been paid each year,

From what I understand...

Palmera does not have a deed buyback program, so there is no way to simply relinquish the timeshare back to them.

Coral Reef is not a desired timeshare where someone would buy the timeshare on the resale market.

I'm going to be putting together a Will soon and from reading comments definitely should not include it... basically telling my kids to let it go into foreclosure. Because I have other assets that they will inherit... will having the timeshare go into foreclosure when I'm dead penalize my kids oe the estate?

Has anyone hired a timeshare exit lawyer and successfully exited Coral Reef?

Has anyone hired a time share exit company and successfully exited Coral Reef?

It's not a situation where I need to exit immediately... but I'd like to know if there are other Coral Reef owners who have successfully exited the timeshare and the best way to go about it in regards to Coral Reef specifically.

I've basically already offered it for free to anyone I know, but understandably in these times no one thus far has been interested in committing themselves to a yearly maintenance fee.

Thanks in advance for any help and/or insights.

Don't hire a timeshare exit lawyer or group. At best they will get you to stop paying and get a foreclosure. This will satisfy there promise to cancel the timeshare.

 

[sun starved Gayle]

If you really want to get rid of it, you might offer it here on TUG for free and sweeten the pot by paying all closing costs and 2025 maintenance fees so the buyer would get a week vacation for free the first year.