how do i give away a timeshare [merged]

[meshall]

when my father died we got 2 weeks at ocean city md bay club. they ar 7 and 36. but we can not use them, and wonder if there is a way to give them to someone who can. the mat. fees are 585 a week.
any sugestions?
thanks
michelle

 

[DeniseM]

Welcome to TUG!

It's hard to give away a timeshare in this economy. Your best bet is to offer it for free on several of the free or low-cost TS sites and offer to pay the transfer costs, which could be a few hundred dollars.

You can list it right here in the TUG classifieds for free.

Craigslist is also free, and www.redweek.com is only $19 for a 6 mo. Ad.

 

[vacationtime1]

eBay. Start the auction at a dollar.

But do some research first. Make certain that your description is both descriptive and very accurate. Check other ads to see how ads are typically structured. You want the buyers to know what you are selling and you don't want the deal to unwind after the auction closes because the buyer discovers he did not buy what he thought he was buying.

The buyer typically pays closing costs in timeshare transactions. Some sellers offer to pay them (typically about $300-$400). That is a judgment call. If the buyer is paying for the escrow, let the buyer pick the escrow agent.

 

[DeniseM]

Robert is right, the buyer does traditionally pay closing costs, but in this market some sellers are paying them as an incentive to sell their week faster. There is a week for sale on Redweek right now for $1 and the seller is paying the MF.

 

[Keitht]

When placing the advert, I would emphasise the fact that they were purchased by your late father and that you have no use for them. That way there will be less of a sense that you are trying to dump them because of the cost (even if that is the reality).

 

[meshall]

thanks

i'm new at this so any info is helpful. thank you much
michelle

 

[funtime]

I suggest starting with week 36 - do some research on ebay and try to get some pictures and really "sell" the unit. I have placed some of my medium timeshares on either ebay or another site and by the time I am through with the description, I like the unit all over again. Week 36 is a great time to be at the beach. Also, I personally dislike reading about Mom getting older, or husband has cancer and we have to sell etc. I don't think that helps you to sell the unit and I don't thinks that people bid on timeshares as a result of a pathetic plea. Instead, concentrate on the positives of the unit and the potential trades if it has trade history etc. Also check out Redweek and see if there are other units for sale etc. Week 7 will be a lot harder to sell in my experience. So separate the two units and treat them differently. Good luck. Funtime

 

[FlyerBobcat]

...Also, I personally dislike reading about Mom getting older, or husband has cancer and we have to sell etc. I don't think that helps you to sell the unit and I don't thinks that people bid on timeshares as a result of a pathetic plea......

I don't think that this post reflects what Keith was saying....

 

[Patri]

If you have a starting price that is very cheap, I don't think you have to pay closing costs, too. Try your luck. If no buyers, then offer in a later ad that you will pay closing.

 

[DeniseM]

These are off-season weeks at an older resort - it's going to be hard to find a taker in this economy. There are already Ads out there for this resort for $1 with the seller paying closing. If she just wants to get rid of them quickly, then the fastest way is to sell for a dollar and pay closing.

 

[roadtriper]

when my father died we got 2 weeks at ocean city md bay club. they ar 7 and 36. but we can not use them, and wonder if there is a way to give them to someone who can. the mat. fees are 585 a week.
any sugestions?
thanks
michelle

Michelle, are these weeks still in your fathers name? I'm not a lawyer, and don't even play one on TV. But I believe that children do not inherit their parent's obligations, when the parent dies. and timeshare weeks can definatly be more of an obligation than an asset! just a thought? RT.

 

[DeniseM]

Michelle, are these weeks still in your fathers name? I'm not a lawyer, and don't even play one on TV. But I believe that children do not inherit their parent's obligations, when the parent dies. and timeshare weeks can definatly be more of an obligation than an asset! just a thought? RT.

According to Tuggers who are in the know about this, the children aren't responsible, but the estate is, so they still have to figure out to do with the timeshares in order to settle the estate. The estate is still responsible for maintenance fees and taxes, until they do.

 

[richardm]

State taxes for Maryland may also be due from the seller at closing, so will also need to be considered along with possible probate issues. I'd recommend you contact a closing agent very familiar with your particular resort to ensure you are aware of any specific requirements you may need to resolve to transfer this ownership before you spend money to advertise.

 

[Dave H]

State taxes for Maryland may also be due from the seller at closing, so will also need to be considered along with possible probate issues. I'd recommend you contact a closing agent very familiar with your particular resort to ensure you are aware of any specific requirements you may need to resolve to transfer this ownership before you spend money to advertise.

Rich:

Very sound advice. If they are in Dads name and probate has not been done, the cost is more than they are worth. She really does not say if probate in MARYLAND has been done. If it was done in a different state than the timeshare state, the probate judge where he died would not have jurisdiction to pass the property on to anyone.

 

[rsnash]

Meshall - Do you not vacation at all or can you just not go to Maryland during the weeks you now own? If the latter, do yourself a favor and learn all you can about the opportunities to make use of them (by exchanging them) before dumping them on eBay.

 

[natarajanv]

donate them

There are lots of websites which takes the TS as a donation. Try donating it.

http://www.sellmytimesharenow.com/owners/index/content/donate/

 

[DeniseM]

There are lots of websites which takes the TS as a donation. Try donating it.

http://www.sellmytimesharenow.com/owners/index/content/donate/

Sellmytimesharenow.com is not a charity. It's an upfront fee company.

More information.

Bona fide charities will only accept the donation of a timeshare with some market value that they can resale quickly. In this economy, with lots of people trying to unload their timeshares it is difficult, not easy, to find a legitimate charity that will accept a timeshare with little or no resale value.

 

[natarajanv]

This is what I got from their website.

SellMyTimeshareNOW is pleased to announce that we are now able to process timeshare donations! We offer a program with no fees to the donor - not up front, not after the sale, never.

If anyone had used their service to donate, please let us know...

 

[richardm]

Timeshare donations...

http://www.timeshareforums.com/foru...ting-your-timeshare-charity-did-work-you.html

I've got an ongoing thread at the above link dealing with the subject of timeshare donations to charities. Info on numerous groups is contained there, as well as info on Sellmytimesharenow and the Southern New Hampshire University.

Is it just me- or does Sellmytimesharenow seem to be spending an awful lot of time in this forum with self-promotion. There should be a disclaimer attached to all "guests" that post from those IP addresses! I hope this thread isn't allowed to be hijacked away from the OP's original concern.

 

[meshall]

it has been transfered to my name so we could close. he did not have a will, but it is now in my name

 

[meshall]

we see these weeks as less of an asscet and more af a burden. we have to pay the mat. fee in jan for both weeks. it just does not work for our fam. Now it just does not seem to be a way out

 

[meshall]

we tried to donate but they would not take it

 

[DeniseM]

Meshall - have you tried any of the suggestions in this thread?

 

[theo]

Deedback?

we see these weeks as less of an asscet and more af a burden. we have to pay the mat. fee in jan for both weeks. it just does not work for our fam. Now it just does not seem to be a way out

Have you contacted the resort HOA (...in writing, no phone calls) to explain the details of this situation and overtly ask them to consider acceptance of a deedback of these 2 weeks?

I know nothing about the facility at issue, but if you make it very clear that you have no interest in ownership of this inherited and unwelcome obligation --- and that you have neither interest nor intentions regarding paying future maintenance fees, they might (...repeat, might) just agree to acceptance of a deedback. If they fully comprehend and truly believe that this is an ownership which is ultimately and inevitably headed toward a future foreclosure (which would necessarily involve an unwelcome and avoidable "out of pocket" legal expense for the HOA), then they might just decide to instead accept a deedback as a proactive alternative.
It will cost you nothing to at least ask the question...

 

[I_Hate_Timeshares]

wow...

what is going on when the company does not even want to take the timeshare free of charge.
a timeshare that they can sell again to another person.

makes you really think how timeshares are a burden than an asset if the company doesn't want to get it absolutely free.