No longer want our timeshare

[Etam]

Hi. We inherited a timeshare from my parents and it’s been nice but we don’t use it enough and the fees go up every year. It is through RCI originally but Holiday Inn Vacations bought them out. So I am assuming I’m in the right place? I am not willing to pay $1200 to have them buy it back from me is there not another way to surrender it to them? It is long ago paid off but I’m tired of paying more and more each month. Or is there a way to find someone to quick deed it to?

 

[dioxide45]

Have you tried posting it in the Free Timeshares forum on TUG? Outside of finding a real person to take it, your only option is the deed back, and pay the fee, or default on the fees and let them foreclose. Why not try to find someone to take it for free first? Post it in Free Timeshares, join a few related Facebook Groups that let you post free timeshares. Perhaps this property has a group of its own you can try too.

 

[kanerf]

Please provide more details such as the resort, unit size, season and/or points assigned.

 

[Etam]

Have you tried posting it in the Free Timeshares forum on TUG? Outside of finding a real person to take it, your only option is the deed back, and pay the fee, or default on the fees and let them foreclose. Why not try to find someone to take it for free first? Post it in Free Timeshares, join a few related Facebook Groups that let you post free timeshares. Perhaps this property has a group of its own you can try too.

I haven’t yet. I wasn’t sure how to do it. I don’t really understand it all. What information would I need for posting to see if someone is interested and where would I find it on the deed information?

 

[TheTimeTraveler]

Hi. We inherited a timeshare from my parents and it’s been nice but we don’t use it enough and the fees go up every year. It is through RCI originally but Holiday Inn Vacations bought them out. So I am assuming I’m in the right place? I am not willing to pay $1200 to have them buy it back from me is there not another way to surrender it to them? It is long ago paid off but I’m tired of paying more and more each month. Or is there a way to find someone to quick deed it to?

Unloading a timeshare can be a timely process. That said, I would post it in the FREE TIMESHARE FORUM on TUG as @dioxide45 has suggested. Give it a month or two, and then take another step if you still have it ------ place it on eBay for a $1 starting bid and sell it to the highest bidder and be done with it.

DO NOT give it to anyone who claims they can get rid of it for you if you pay them an upfront fee. This is a 100% scam.



You will likely need someone to do the paperwork and officially transfer the title. Suggest using LTTransfers at their website below. They're very good!


www.LTTransfers.com



Best of luck!










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[Passepartout]

In the overall scheme of things, paying the $1200 to be released from the ownership is a pretty good deal. By the time you list it, find a buyer, then wait while it goes through closing- meanwhile the monthly payments continue, the set fee upfront could well be cheaper.

Jim

 

[easyrider]

I agree with Jim. $1200 spent to be rid of it now is better than messing around with trying to sell it unless it's a gem of a property. To give it away the mf , resort transfer cost and escrow cost is probably more than $1200. When we gave one of our timeshares away the costs added up to almost $1700 by the time everything was completed. The cost wasn't the biggest bummer which was dealing with some of the people.

Bill

 

[vacation911]

Based on the fee, it seems like this may be a Holiday Inn timeshare (Horizons program), though I could be mistaken—that’s just my educated guess. I agree that the $1,200 fee might be worthwhile if your primary goal is to exit quickly and avoid the risk of paying another year of dues as time passes.

Another option to consider would be listing it for free on the Free Timeshares page while offering an additional incentive beyond covering the closing and transfer costs. Keeping your total cost below $1,200 could make your offer more attractive to potential buyers and help speed up the process. Many similar listings already include free usage and cover the closing and transfer fees, so adding a small incentive after ownership changes hands could make yours stand out.

If it doesn’t sell under these terms, then accepting the $1,200 fee may ultimately be the best option. Just something to consider!

 

[TUGBrian]

give it away, pay to give it back, or walk away. all HICV owners have the same 3 options:

How to get rid of your unwanted Holiday Inn Club Vacations timeshare points

Learn effective strategies to exit your unwanted Holiday Inn Club Vacations timeshare ownership. Explore options for resale, transfer, and cancellation for owners

tug2.net

give it away = low risk to owner, low cost, low chances of success

give it back = low risk to owner, higher cost, higher chance of success

walk away = medium risk to owner, low/no cost, high chance of success

 

[Etam]

give it away, pay to give it back, or walk away. all HICV owners have the same 3 options:

How to get rid of your unwanted Holiday Inn Club Vacations timeshare points

Learn effective strategies to exit your unwanted Holiday Inn Club Vacations timeshare ownership. Explore options for resale, transfer, and cancellation for owners

tug2.net

give it away = low risk to owner, low cost, low chances of success

give it back = low risk to owner, higher cost, higher chance of success

walk away = medium risk to owner, low/no cost, high chance of success

Can you just stop paying(anka walk away) and it not hurt you?

 

[vacation911]

Can you just stop paying(anka walk away) and it not hurt you?

Walking away will put you at risk for a credit hit but it may or may not happen. The $1200 fee is not terrible in the world of deed back programs. If you walk away they may give a deed in lieu of foreclosure but even that may come with a fee you have to pay to use that option. I think giving away with an incentive or walking away are your two best options for getting out, imho. However, if you want to take the medium risk walking away won't ruin you forever but you risk a credit hit is all. Depends on if you prefer a $1200 (or less if you give it to someone with some kind of incentive) cash hit or a risk to your credit I suppose.

 

[rickandcindy23]

Being a board member at a RTU resort, not deeded ownership, I know that deeded timeshares have a foreclosure process, requiring the resort's management, and consequently the owners [of legacy resorts] to pay money to get ownership back for the transfer to a new owner. This is why deedbacks shouldn't be "free." The deed has to be turned back into the resort for less impact on the owners. That fact alone should deter any [legacy] resort to deny a deedback, but there has to be a cost to the current owner.

At a RTU resort, we just take the week back and it's just a certificate.