Giving back timeshare - do most companies take them back now?

[ramsredspistons]

I have a question about just giving back your timeshare to the company. I am confused by some of the timeshares I see on ebay and such that are trying to sell thier timeshare for a buck and will even pay for the closing costs, etc. I have had a Wyndham timeshare in the past and they had a program that just took my timeshare back with no fees, etc. (Provided I had paid the maintenence fees and everything was in good standing). I also have an old Sheraton and now Vistana timeshare and I am under the impression I could give it back as well. I bought both resale so didn't pay much at all for them, so giving them back was a good thing as I didn't have to go through any major issues of trying to post and work through the sale process. Why don't more owners do this? Or do some companies not take them back? Or do some of the ones I mentioned only take certain ones back? Just curious. Thanks!

 

[TUGBrian]

correct some companies do not offer deedbacks.

unfortunately many owners do the same amount of research trying to exit, as they did when buying and never learn about these programs.

 

[rickandcindy23]

I have a question about just giving back your timeshare to the company. I am confused by some of the timeshares I see on ebay and such that are trying to sell thier timeshare for a buck and will even pay for the closing costs, etc. I have had a Wyndham timeshare in the past and they had a program that just took my timeshare back with no fees, etc. (Provided I had paid the maintenence fees and everything was in good standing). I also have an old Sheraton and now Vistana timeshare and I am under the impression I could give it back as well. I bought both resale so didn't pay much at all for them, so giving them back was a good thing as I didn't have to go through any major issues of trying to post and work through the sale process. Why don't more owners do this? Or do some companies not take them back? Or do some of the ones I mentioned only take certain ones back? Just curious. Thanks!

Wyndham didn't allow us to deedback our contracts that we wanted to get out from under. They said absolutely not, so we had to give them away, most of them I closed (typed the deed myself), and we are paying the $399 transfer fee to Wyndham.

Your timeshare with Vistana may have had enough value to be re-sold for $$. But sure, Vistana will take it back because they will sell it again. Companies still in active sales will often take back a timeshare.

I love my Vistana and Marriott weeks. Wyndham is still something we are trying to figure out how to use our Platinum Founder's VIP accounts. We own a lot of points between the two.

 

[LannyPC]

I have a question about just giving back your timeshare to the company. Or do some companies not take them back? Or do some of the ones I mentioned only take certain ones back? Just curious. Thanks!

The answer to both these questions is basically Yes. For instance some companies will only accept deedbacks if you bought them from the TS company or developer.

One suggestion that we sometimes give to owners who are asking the resort's Homeowners' Association to take it back is this. Tell the HOA that you are not paying any more money in MFs and that it would be in everybody's best interests for the HOA to take it back now amicably rather than the HOA to go through the expenses and rigours of foreclosing.