Help with selling parent's timeshare [merged]

[JoanE]

sorry- i don't think this relates to the discussion-but i couldn't figure out how to start a new thread- have tried to sell my parent's timeshare both on tug and ebay without any success- have contacted givebacktimeshares.com- they've made me an offer - it doesn't sound terrible - does anyone have any dealings with them? thanks - joane - (if there is a better place to post this- please let me know)

 

[DeniseM]

Help with selling parent's timeshare

Hi Joan - I started a new thread for you.

This is a tough time to sell a timeshare because of the economy. Have you tried listing it on TUG for $1 and giving it away with the stipulation that the buyer pay all the transfer costs? I would try that before I'd pay someone to take it off my hands.

If you want to, click on my name and send me the name/size/season info. for your parent's resort and I'll try to find some comps. Please, don't post it on the board, however.

To start a new thread, click on the "New Thread" button at the top of any board.

 

[JoanE]

buy back timeshares

hi has anyone had dealings with buybacktimeshares.com? I would like to get rid of a timeshare owned by my parents- i have tried to sell it on tug and ebay with no results- please let me know if you have heard of this company and if they are reputible - they have quoted me $999 ish to "donate" El Sid - efficiency-
thanks, joane
jhorwich@wowway.com

 

[theo]

Be very, very careful here...

I would never advocate paying anyone to take a timeshare, but it is still true that some timeshares are almost worthless. You may need to "do what you gotta do" if this is something you for which you simply want no further ownership. You couldn't just sell it eBay (or on Bidshares, where advertising for as long as you want is completely free) for even just one dollar???

BEFORE proceeding another step and / or signing (or paying) anything, you really need to first very clearly and very specifically determine and fully understand whether this proposed "arrangement" is merely giving these people power of attorney (which still leaves you as the owner, responsible for all future fees while they try to sell it), or whether a new deed will be recorded in their name now, thereby immediately making them the new owner and making them responsible for any and all future fees.

Please understand that these are two radically different situations and scenarios, as completely different as night and day. Needless to say, the power of attorney approach is (for you) expensive and risky --- you could pay these parasites a thousand dollars and still own the timeshare and all of its associated future maintenance fee obligations. The risk to them is zero, since they have nothing at all at stake and might make a few bucks if they ever sell it. If you couldn't, why would you believe that they can?

I don't know you, or your timeshare or its' value (if any). Nonetheless the words of caution above are sincere. Please make very sure that you fully understand the scenario distinctions described above; failing to do so will ultimately be at your own financial peril. Good luck.
==============================================

P.S. I recommend removing your email address from the bottom of your post. Someone in your situation will be perceived as "fresh meat" to some of the many commercial parasites out there looking to take advantage of timeshare owners in a bind. Providing your email address is just an open invitation to hear from lots of them, without the benefit of any "truth test" being applied to their input to you. Make them put all their claims and assertions right here, out in the open, for experienced and knowledgeable TUG members to see, examine and comment out in the bright sunlight...

 

[JoanE]

givebacktimeshare.com

Hi - I have tried to sell my parent's timeshare both on tug and ebay without any responses. Since my parents are both in their 80's and will never use the property in Mazatlan, I found this website on Tug and contacted them. Givebacktimeshare offered the following:
Timeshare Closing Services, Inc., a licensed, bonded, insured, Title Agency that has handled over 60,000 timeshare closings since 1999. Upon review of this initial paperwork, please sign and send back to my attention within 7 days of receipt to receive the discounted closing and transfer fee of $997.00

I have spoken with Ike twice and this seems to be reasonable - but thought I would get some more opinions before I hand over the money. or - if anyone responding to this wants an efficiency at El Sid-get in touch with me and I will get you pertinent information about this ts.
Thanks Joane

 

[theo]

Hi - I have tried to sell my parent's timeshare both on tug and ebay without any responses. Since my parents are both in their 80's and will never use the property in Mazatlan, I found this website on Tug and contacted them. Givebacktimeshare offered the following:
Timeshare Closing Services, Inc., a licensed, bonded, insured, Title Agency that has handled over 60,000 timeshare closings since 1999. Upon review of this initial paperwork, please sign and send back to my attention within 7 days of receipt to receive the discounted closing and transfer fee of $997.00

I have spoken with Ike twice and this seems to be reasonable - but thought I would get some more opinions before I hand over the money. or - if anyone responding to this wants an efficiency at El Sid-get in touch with me and I will get you pertinent information about this ts.
Thanks Joane

You have previously posted this same inquiry in multiple forums. I gave you a detailed reply already to the one in "Newbies Help" --- a day or two ago. I'm not going to retype it all over again, but please read up on and fully understand the important distinction between "power of attorney" and an actual deed transfer. POA still leaves you as owner and mf bill recipient.

 

[dougp26364]

If all you signing is a power of attorny and not a deed transfer and, if you've posted this question multiple times, then you're foolish if you think that either your parents timeshare problems will be solved by this company or that asking the questions multiple times will result in the answer you want to hear.

It may not be what you want to believe but getting good advice and then ignoring it until someone tells you something you want to hear could cost you $997 without solving your problems.

 

[DeniseM]

JoanE - Rather than starting new threads on the same topic, please add any new questions to the thread that you have already started. (This thread.)

I know it's not what you want to hear, but no one here is going to recommend that you pay a big fee to someone to take your timeshare off your hands. Try some of the other suggestions first.

 

[thinze3]

You may have to prepay MF's and offer this year's week in the bank with RCI or II and also offer to pay next year MF's and all closing costs. It is sad but true.

I have a unit that may go through the same scenario in a couple of years when I am ready to sell it. I will probably book a prime week and offer to pay all closing costs just to get rid of it. What has happened is that all the weeks, other than the winter ski weeks, have become worthless and many of those owners aren't paying their fees anymore. The resort has taken ownership through the courts system and the previous owners probably have judgements against them. This has created a situation where the ski week owners, like me, have higher than normal MF's, even though the resort tries to rent them out everything that is resort owned.

I told the HOA about a recent occurrence at a similar resort where Tuggers posted that the other resort was giving away weeks. I believe it was fairly successful as many weeks were snapped up. Hopefully this helped keep MF's under control.


Terry

 

[ScottF]

gotta help mom get out!

On one hand I'm surprised more people aren't looking to extricate themselves from the mess my mom finds herself in, but on the other hand, after reading many posts in several other threads, it does seem that many here are fairly happy with fractional ownership - and some are even making a little money from it. That's definitely encouraging.

However, my mom just isn't one of them and I could use any and all advice on how to release her from this obligation. [Specific timeshare info. removed.] she feels very much victimized by all the financial turmoil the resort has gone through over the years.

Any insights, advice or tips are very much appreciated.

[Specifics removed so the post won't be perceived as advertising-DeniseM Moderator]

 

[applegirl]

Joan,

You keep saying that you've tried to sell it on ebay and TUG. Did you list it for $1? If you haven't tried listing yet at this bargain basement price, try that first before paying someone to take it off your hands.

Janna

 

[theo]

You keep saying that you've tried to sell it on ebay and TUG. Did you list it for $1? If you haven't tried listing yet at this bargain basement price, try that first before paying someone to take it off your hands.

Good advice. For that matter, Joan could advertise the timeshare as being available for one penny, with a crisp $100 bill also provided to the new owner upon deed recording. She would still be saving $900 over the cost of the "deal" she appears to (...somehow) be seriously considering.

 

[JoanE]

sorry- couldn't find my postings - so thought they were lost/noone saw- just have located responses this am-thanks for the suggestions

 

[JoanE]

thanks theo - have just located all of the responses - didn't think my posting was in the right place- i appreciate all of the suggestions
joane

 

[DeniseM]

An easy way to find your own posts is to click on Quick Links (in blue bar right above posts) and then Your Posts.