How much effort does the average person put into selling or giving away an unwanted Timeshare?

[TUGBrian]

This has been a thorn in my side for awhile now, but recent forum and Facebook posts lead me to believe the answer to this is "as little as possible".

While we cover the 3 ways to dispose of any timeshare (resale/return/default), I find so many owners put forth a bare minimum of effort, if any at all in trying to find a new home for an unwanted timeshare. No doubt its difficult to "sell" something you feel is/was a terrible purchase for you to begin with, but its so utterly difficult to read post after post from folks who claim:

"weve been trying to get rid of this thing forever"
"noone wants this"
"I cant even give this back!"

or other such quotes day in and day out that highlight the despair that many owners face when it comes time to truly find a new home for an average timeshare ownership! I always make a point to ask these folks about what they have tried thus far in their attempts to sell or give away their ownership, and by and large the OVERWHELMING majority respond with nothing at all.

This was highlighted on facebook earlier this week when someone inquired about BUYING a timeshare, and the post was absolutely inundated with people posting that they would be willing give away theirs! I wound up counting nearly 50 separate responses from folks with timeshares they wanted out of, and I asked every single one of them the same questions, as well as posted the link where they could actually list their free giveaway timeshare at no cost here on the forum.

I never got one single reply, nor did I notice any of the timeshares offered get posted on the free giveaway forum which leads me back to my initial question. How much effort does the average owner actually put into finding a new home for an unwanted timeshare? If i had to answer truthfully, at this point it would be "about the same effort they put into researching before they bought in the first place"

I have been discussing defaulting on the last few videos we have done, but I always explain that it should be an option of last resort AFTER you have made a good faith effort to try to give away, or give back your Timeshare.

Fact is, there ARE plenty of people out there who would be interested in taking over a free timeshare, and while posting it on the TUG giveaway forum is never a guarantee of success. If your level of effort does not exceed posting a single sentence on Facebook as a reply to someone's post you can almost guarantee failure!

I created the free giveaway forum to provide ANY owner the ability to offer their timeshare at no cost and that forum has been wildly successful with so many owners very thankful they were able to find a new owner without paying a dime! However I see so many folks who despite not only being told about the forum, and given a link....simply dont even bother.

Am I just unique in my experience here? or do those of you who regularly participate in other groups/forums/etc see an overwhelming number of owners who fall into this category?

 

[The Colorado Kid]

With apologies to Meatloaf...."I would do ANYTHING to get rid of my timeshare...but I won't do THAT!"

 

[LannyPC]

However I see so many folks who despite not only being told about the forum, and given a link....simply dont even bother.

Am I just unique in my experience here? or do those of you who regularly participate in other groups/forums/etc see an overwhelming number of owners who fall into this category?

This also explains why so many desperate TS owners come on here asking, "Has anybody heard of (or used) [such-and-such] timeshare exit/cancel/relief company to cancel their timeshare?" It seems like so many are willing to just throw money at the problem and not do any work.

 

[The Colorado Kid]

This also explains why so many desperate TS owners come on here asking, "Has anybody heard of (or used) [such-and-such] timeshare exit/cancel/relief company to cancel their timeshare?" It seems like so many are willing to just throw money at the problem and not do any work.

EXACTAMUNDO! This same type of person will pay an exit company $3-$5K but then wants to haggle over paying closing costs.

 

[claraj]

Well, how easy is it to giveaway a timeshare? What are the specific steps? Maybe it's the unfamiliarity of the process that's keeping owners from taking the steps to try and give it away.

 

[rickandcindy23]

Well, how easy is it to giveaway a timeshare? What are the specific steps? Maybe it's the unfamiliarity of the process that's keeping owners from taking the steps to try and give it away.

There is a forum here for it, TUG Bargains timeshare giveaway, or whatever it's called.
There is a marketplace you can list it free with a paid TUG membership ($15 per year).
You can list it on ebay (I wouldn't do it).
You can ask a seller on ebay how much to sell your timeshare and if they can even sell it. Think Buy and Sell Timeshares for one that will do it for you.
You can advertise on Redweek.
You can ask friends and family.

Once you find someone to take your timeshare, offer to pay closing costs and contact readylegal@gmail.com, Legal Timeshare Transfers OR use Resort Closings, in Bozeman, MT, or do it yourself pretty easily:

Contact the county, ask how much for recording fees, type the deed yourself (easy to do), contact the resort and ask what transfer fees cost, most are under $200, and you can get it done in a matter of days.

I have closed many myself, it's been a cinch, and I plan to close more in the future. $26 for Rutherford County, NC, which is where Foxrun is located. $18 for Pagosa Springs in Archuleta County for a recording fee. They want a cashier's check, which is stupid, but okay.

When you get the deed back from the county, you make a copy of the deed for transfer, mail a check for the transfer fees to the resort or the management company. Then mail the original deed to the new owner and throw your old deed away.

Easy, breezy.

 

[DeniseM]

Well, how easy is it to giveaway a timeshare? What are the specific steps? Maybe it's the unfamiliarity of the process that's keeping owners from taking the steps to try and give it away.

I have given away and acquired many timeshares on TUG - it's not difficult, but it can take awhile, and you need to put some effort into it. On the Free Timeshares Forum, there is a walk-through and it tells you exactly how to do it:

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

 

[The Colorado Kid]

Want to move it fast...offer this:

$1 purchase price
Seller pays all closing/transfer/resort fees of any kind
Buyer has first year free use

 

[dioxide45]

Sadly, we are in an era of instant gratification. You can buy a timeshare and be setup in their tsystem to start making reservations within a day or two. Long before the rescission period ends. People want the same thing when getting rid of it. The reality is, that it doesn't work that way. Many people comment on my videos that they want to get rid of a timeshare, I point them to the free timeshare giveaway forum, but never see posts there related to the timeshare they want out of. Then there are the people that do post there with their one liner of x timeshare they have and want to get rid of. If you put time and effort into it, then in most cases you can get rid of it. The problem for many of these people is that they only think about their timeshare once a year, when the bill comes and it reminds them they want to get rid of it. Once they suck it up and pay the fees for another year, they forget about it till the next year.

 

[Mongoose]

I think that there is a large percentage that haven't really pursued it and just go on paying the MFs. Many of these are people who purchased from the developers never bothered to learn the system, don't plan ahead and then become frustrated they can't find the unit they want 2 weeks out. I read a post of FB, where they lady hadn't used it in ten years but still paid her monthly dues. Its kind of like an expensive gadget, if you don't read the manual or try to figure it out on your own it sits there until it ends up in a yard sale or the trash. Worse its still costing you money. If I hadn't found Tug it would have been hard for me to learn all the important details.

 

[Mongoose]

I have given away and acquired many timeshares on TUG - it's not difficult, but it can take awhile, and you need to put some effort into it. On the Free Timeshares Forum, there is a walk-through and it tells you exactly how to do it:

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

When selling I blanket TUG, eBay and Redweek. The majority have gone on eBay. Thinking about it over the past 15 years I have bought 11 and sold 8 (3 HICV, 1 Marriott, 1 Hyatt, 2 independents in Cocoa Beach, 1 Diamond) all purchased resale and all sold for a profit. I think the key is to be very selective and patient in your purchases and when selling, write a compelling item description with lots of great pictures and use a good company to handle the transfer.

 

[rjwehr]

I would say maybe there should be a template of what to post in the Free Timeshare area, but it's already essentially there:

What details should I include in my Free Giveaway Listing?

In the live stream tonight a member suggested some instructions on how to craft a free giveaway listing to help folks out who may or may not know exactly how to give away a timeshare (or it might not even be theirs, as in giving away for a relative or deceased family member etc). I wanted to...

tugbbs.com

For a newbie, it could be "the unknown" of how to do closing or the fear of getting scammed?

... Or, maybe it's one of those mysteries we're really not supposed to solve, kind of like:
What happened to the lost colonists at Roanoke? Where is Amelia Earhart? Is there really a money pit on Oak Island? How many licks DOES it take to get to the center of a Tootsie Pop?
Just a thought.

 

[silentg]

It’s a matter of someone wanting what you have. Most timeshares I have bought or sold were not expensive. Never sold or bought from developer ( except first one) . I’m in the process of gifting my HICV to someone who was looking for what I have and no longer want. Hoping to resolve a hiccup soon.

 

[rickandcindy23]

Sadly, we are in an era of instant gratification. You can buy a timeshare and be setup in their tsystem to start making reservations within a day or two. Long before the rescission period ends. People want the same thing when getting rid of it. The reality is, that it doesn't work that way. Many people comment on my videos that they want to get rid of a timeshare, I point them to the free timeshare giveaway forum, but never see posts there related to the timeshare they want out of. Then there are the people that do post there with their one liner of x timeshare they have and want to get rid of. If you put time and effort into it, then in most cases you can get rid of it. The problem for many of these people is that they only think about their timeshare once a year, when the bill comes and it reminds them they want to get rid of it. Once they suck it up and pay the fees for another year, they forget about it till the next year.

If they want out of a Marriott or Westin Hawaii timeshare, send them my way.

It's a little bit odd that people buy a timeshare they don't really want. I talked to our DIL's parents a while back about their timeshare at Marriott's Ko Olina. They were smitten when they bought, and they are still loving it. They have zero regrets, and they bought developer. Even if I mention they can buy resale and add another week, they say they would buy again from Marriott directly. But they just love that one timeshare, it has a decent amount of points and enrolled when offered, and they only stay at Marriott resorts. I didn't ask how much they paid.

Our DIL was in high school when they bought their week. That would have been about 2005 or earlier. Went on a discounted stay. Their first trip to Hawaii.

 

[DeniseM]

For a newbie, it could be "the unknown" of how to do closing or the fear of getting scammed?

Read through my walk-through that I posted above - that's all explained.

 

[dioxide45]

Is there really a money pit on Oak Island?

There's a money pit there allight. They keep dumping money in with little in return except a TV show to document the madness...

 

[LannyPC]

Want to move it fast...offer this:

$1 purchase price
Seller pays all closing/transfer/resort fees of any kind
Buyer has first year free use

This is definitely cheaper, and more efficient, than paying an exit/relief/cancel company $3000 and up.

 

[4TimeAway]

For TUG Members we know what we have and the value of it.

The unhappy people I see with mostly EOY, low season, low point/partial week ownerships that in my mind have negative value and should never have been sold. I don’t TUG Members go around collecting these as we are a bit more sophisticated, but if you were a novice owner with junk, I only see one option:

• Try to give it back.
• Get help
  • The TS would need to be Free and Clear
  • To confirm its potential value, you can look on rofr.net -Its shockingly less than you paid 90+% of the time.
  • Use a closing company TUG recommends, paying the fees for transfer and the MF's for the current year to give free use (depending on what you have)
  • Join TUG and ask for advice
• Keep paying until you die and do not use it. WRONG ANSWER

While humans at times and in certain ways can be brilliant, resourceful, and intelligent when it comes to timeshares the complexity leads people to become gullible, lazy, and stupid. They bought something powerful in emotional potential, complex to the point of requiring time to understand and some people just give up before they’ve figured any of it out.

Then they have a real estate deed. This does two things. It makes people feel like they own something which makes them potentially feel loss if they sell. Secondly it requires effort and time to learn about how to sell it.

If you didn’t take the time to understand what you were buying, then failed to take time to learn about how to use what you have, what are the odds you’re going to suddenly engage in selling.

(I’m going on a limb here… Negative Infinity? Zero? 1%?)

 

[The Colorado Kid]

I would say maybe there should be a template of what to post in the Free Timeshare area, but it's already essentially there:

What details should I include in my Free Giveaway Listing?

In the live stream tonight a member suggested some instructions on how to craft a free giveaway listing to help folks out who may or may not know exactly how to give away a timeshare (or it might not even be theirs, as in giving away for a relative or deceased family member etc). I wanted to...

tugbbs.com

For a newbie, it could be "the unknown" of how to do closing or the fear of getting scammed?

... Or, maybe it's one of those mysteries we're really not supposed to solve, kind of like:
What happened to the lost colonists at Roanoke? Where is Amelia Earhart? Is there really a money pit on Oak Island? How many licks DOES it take to get to the center of a Tootsie Pop?
Just a thought.

Who is buried in Grant's Tomb? When was the War of 1812? How long is Ten Mile Road?

 

[The Colorado Kid]

For TUG Members we know what we have and the value of it.

The unhappy people I see with mostly EOY, low season, low point/partial week ownerships that in my mind have negative value and should never have been sold. I don’t TUG Members go around collecting these as we are a bit more sophisticated, but if you were a novice owner with junk, I only see one option:

• Try to give it back.
• Hire a reviewed/preferred agent of TUG. Sure it’s $2,000 or whatever, but it gets done.
• Keep paying until you die and do not use it. WRONG ANSWER

While humans at times and in certain ways can be brilliant, resourceful, and intelligent when it comes to timeshares the complexity leads people to become gullible, lazy, and stupid. They bought something powerful in emotional potential, complex to the point of requiring time to understand and some people just give up before they’ve figured any of it out.

Then they have a real estate deed. This does two things. It makes people feel like they own something which makes them potentially feel loss if they sell. Secondly it requires effort and time to learn about how to sell it.

If you didn’t take the time to understand what you were buying, then failed to take time to learn about how to use what you have, what are the odds you’re going to suddenly engage in selling.

(I’m going on a limb here… Negative Infinity? Zero? 1%?)

What is this?

• 
  Hire a reviewed/preferred agent of TUG. Sure it’s $2,000 or whatever, but it gets done.

 

[chapjim]

What is this?

• 
  Hire a reviewed/preferred agent of TUG. Sure it’s $2,000 or whatever, but it gets done.

That puzzled me as well! I don't think TUG prefers any entity that charges $2,000 to "get rid" of a timeshare.

 

[easyrider]

Communicating with social media site members requires a bit of trust and for many good reasons no one trusts anyone. I joined a dozen facebook pages and I don't trust anyone. I do trust Tug members for the most part but even then you never know.

The last timeshare I gave away years ago actually costed us about $1500 to give away but at least it is gone. Our plan is to shied our assets and let the timeshares go into foreclosure if the companies don't want them back and if we can't give them away.

Bill

 

[rickandcindy23]

I think the $2,000 is using a closing company TUG recommends and paying the fees for transfer and the MF's for the current year to give free use.

The only $0 timeshare we own is Wyndham. We have some contracts to give away, and they are not easy, believe me.

 

[Eric B]

Who is buried in Grant's Tomb?

Nope. Who's on First.

 

[DaveNV]

Hmm. I never had a problem selling or giving away a timeshare I wanted to be out of. I've sold or given them away in several places. A properly worded ad put in the right place, and the potential new owner popped up shortly afterwards. Some were sold without me even needing to place an ad, just by communicating with someone who wanted what I was getting rid of. Not saying everybody can do that, but with a bit of effort, it wasn't all that hard. I never tried to make money on a sale. Breaking even was good enough for me. If I wanted to be out of the ownership, my goal was to have it gone before the next maintenance fee came due. In every single case, it worked.

What I didn't do was put lipstick on a pig and expect to win the contest. I made smart timeshare purchases (all resale, never from a developer), used them till I decided I was done, and then I passed them along to a new owner. All in, it was quite a good experience for me. I'm currently timeshare-free and have no specific plan to buy something again, but I still keep my eye on things, just in case something too good to pass up comes along.

I agree with the posts above - people want someone else to do all the work, which is why PCCs are successful. But even instant gratification requires a bit of effort. If they do nothing, it's easy to bellyache that nobody wants what they're trying to get out of. There is a difference between wanting to be out of something and making the effort to actually achieve it.

Dave