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I want to give away my timeshare

Blanca

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How can I give away my timeshare? I have a time share at Westgate Resorts in Orlando. I pay monthly $148. I just want to get rid of it. What are my options?
 

TUGBrian

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theo

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How can I give away my timeshare? I have a time share at Westgate Resorts in Orlando. I pay monthly $148. I just want to get rid of it. What are my options?
I'll give you a blunt, honest and accurate answer. Please don't shoot the messenger.

If you are making monthly payments, you apparently have an outstanding loan balance. Westgate is not a desirable resale market product at any price, but a Westgate product on which there is an outstanding loan balance is something for which you basically have three options:

1. Keep paying (...for something that you likely can't even give away, now or later) and just try to utilize the product as best you can.
2. Ask Westgate to take it back (...with a loan balance outstanding, it is highly unlikely that they would even consider this unless you first paid off the note).
3. Stop paying, default and allow foreclosure to occur. This will likely result in a negative "hit" on your credit report, but immediately stops sending any more money down the drain.

In each of the above scenarios, all money paid to date is "sunk" and irretrievable. At this juncture, you have to make the difficult decision for yourself regarding how much (...if any) more money you are actually willing to sink into this enterprise. Please don't fall for any third party "escape / exit / relief for a fee" schemes or promises. There is no pixie dust available that will somehow magically extract you from a legal, binding contract.

None of the above input is likely what you want to hear, but it is the unvarnished truth nonetheless. Good luck.
 
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LannyPC

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Also, most TUGgers warn people who are in situations like yours to avoid companies that claim they can get you out of your mortgage, cancel your timeshare, end your contract, sue the developer and sales people, etc. These are sometimes scams. Some are running fraudulent operations. Others are just charging you thousands of dollars for something you can do yourself.
 

whitewater

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like the OP said. Pay off your timeshare then you will have a better chance of giving away. until you do that its HIGHLY unlikely that you will find anyone to take it. Take your losses move on, keep it and enjoy it, or live in a delusional reality and keep it hoping you sell it for what you owe.

Once paid off others with your TS will be able to help guide you as to options. Maybe post some additional details about ownership and amount owed after reading the giveaway section that the OP listed.

Sorry to be blunt but better to know reality then to live without it.
 

Timeshare Von

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Orlando under even the best of circumstances, is a tough TS to unload. They are way overbuilt so inventory is high with lots of people who have been bamboozled by the allure of "the mouse" . . . buying into the timeshare market there.
 

whitewater

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yep contact westgate to see if they will take it back. if not then pay someone to take it by paying closing, MF in advance, etc...

others will have ideas. DO NOT pay someone upfront to sell TS. no sense throwing good money after bad.
 
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