Timeshare exit team questions any complaints? for real

[DeniseM]

There is no magic way to make a timeshare go away (despite what the upfront fee companies want you to believe.)

You can:

-Give it back to the resort
-Give it away to a private individual: http://www.tugbbs.com/forums/showthread.php?t=132509
-Go into foreclosure

Everything else is smoke and mirrors.

 

[TUGBrian]

what efforts have you made thusfar to list your timeshare for free to hopefully find a willing owner to take it over from you? and what did the HOA say when you contacted them to ask if they would take the interval back from you?

 

[BSquared18]

Re: "what efforts have you made thus far... ."

As you can see from my join date, I've just started the process. Only yesterday did I finally find a listing of the names and addresses of the HOA president, vp, secretary, and two directors. I'm going to see if I can find any of their phone numbers and/or email addresses. I suppose contacting the resort and asking for that information would be okay--or not?

Failing finding any other contact information, one of my next steps will be to compose a letter to send to one or more of the members. Any suggestions there, as far as whom I should send it to, position-wise? And to just one member, or more than one?

A couple of days ago, I started a forum thread where I ask for a template for such a letter. Since none was offered, I would like to post a draft of my letter (with sensitive info omitted, of course) on that thread for feedback before sending it. Unless someone thinks that would be inappropriate. I do see that Denise says that "notifying the management company of your intent to sell your timeshares isn't something that is normally done." So perhaps posting my draft is not a good idea?

Thanks again everyone. It's a learning experience.

Bill

 

[BSquared18]

On another point in the previous posts: Denise, you mention that going into foreclosure is an option. But aren't there serious consequences, such as impacting one's credit rating? And having to deal with harassing phone calls?

I assume stopping maintenance payments is a last, last resort.

Just curious,
Bill

 

[LannyPC]

On another point in the previous posts:...you mention that going into foreclosure is an option. But aren't there serious consequences, such as impacting one's credit rating? And having to deal with harassing phone calls?

I assume stopping maintenance payments is a last, last resort.

I am not Denise but yes those are potential consequences. You have to decide if it's worth it to you to keep paying so as to avoid possible unwanted phone calls or negative impact to credit ratings. Avoiding harassing phone calls is easy enough. Just don't answer any phone calls from numbers you do not recognize.

As for "stopping maintenance payments is a last, last resort", I would contact the resort and say that you are not paying another penny (except for maybe transfer costs and the next MF so that the resort will have time to find a new buyer) and it would therefore be best for all for the resort to take your TS back.

 

[TUGBrian]

no problem, thats a great first step!

although by reading that, can we assume you havent ever even attempted to list it anywhere even for a dollar?

if you havent actually made a good faith effort to find a new owner yet, why would you consider paying someone many thousands of dollars upfront? Wouldnt saving all that money and being out from under your timeshare be a best case scenario?

 

[DeniseM]

I do see that Denise says that "notifying the management company of your intent to sell your timeshares isn't something that is normally done." So perhaps posting my draft is not a good idea?

You are comparing apples and oranges:

1) Dear management company - I'm getting ready to sell/give away my timeshare.

2) Dear management company/BOD/HOA - I would like to deed back my timeshare to you.

There is no point in sending letter #1- if you decide to sell or give away your timeshare that is your business and the title company will notify the resort by sending them the new recorded deed in the new owner's name.

Letter #2 is for a completely different purpose, because to deed it back, the resort has to agree to take it back - you have to contact them.

I highly doubt that they will see anything that you post here, and since you have to contact them anyway, it doesn't really matter.

 

[BSquared18]

Deleted by me. I realized my Q was answered.

 

[BSquared18]

no problem, thats a great first step!

although by reading that, can we assume you havent ever even attempted to list it anywhere even for a dollar?

if you havent actually made a good faith effort to find a new owner yet, why would you consider paying someone many thousands of dollars upfront? Wouldnt saving all that money and being out from under your timeshare be a best case scenario?

No, I haven't listed the timeshare. I suppose it won't hurt to do that first, although I've seen some timeshares at the same resort go begging, and Sharket lists the typical resale at $8 for Barefoot'n.

I've been assuming that no matter which direction I go, I'll need to offer some incentives to sweeten the deal. I'd rather give the money to either a buyer or the resort than to a company that might use questionable tactics and/or get no results.

Bill

 

[TUGBrian]

Id think before offering incentives, you would be well advised to at least get an ad up offering it to be given away.

 

[theo]

No, I haven't listed the timeshare. I suppose it won't hurt to do that first, although I've seen some timeshares at the same resort go begging, and Sharket lists the typical resale at $8 for Barefoot'n.

I've been assuming that no matter which direction I go, I'll need to offer some incentives to sweeten the deal. I'd rather give the money to either a buyer or the resort than to a company that might use questionable tactics and/or get no results.

A wise and prudent approach and plan. If it turns out that your "deedback" request is rejected by the BoD / HOA (better than even odds that rejection will occur, frankly) and you do have to offer incentives in order to find a valid, willing new recipient, I would respectfully suggest just starting with offering to pre-pay a year's maintenance fees (as well as the relatively minor closing costs and any resort-imposed transfer fee for the ownership change).

More specifically however, if you do offer to pay a years' maintenance fees for the new grantee, make it very clear that you will pay that amount directly to the resort (i.e., not via check payable to the grantee) when the new deed is officially recorded and the new ownership is subsequently accepted by the resort.

This approach basically provides and guarantees a year of essentially free usage to your new grantee, while simultaneously ensuring that you lawfully and permanently cease to be the owner of record, squaring up with resort fees for a year in advance on behalf of the new owner, putting the whole matter in your rear view mirror.

P.S. Maintenance fees increase virtually every year, as you surely know. You might offer to pre-pay for next year the amount of this year's fees and make clear in advance to the new owner (and to the resort) that the new owner will be responsible for the (likely 4 -6% increase / difference) themselves when the following years' maintenance fee bill ultimately gets issued. You surely don't want to have to revisit the matter again in a year over small change; anticipate and resolve this detail in advance.

I wish you luck and success.

 

[theo]

My $0.02 worth...

A couple of days ago, I started a forum thread where I ask for a template for such a letter. Since none was offered, I would like to post a draft of my letter (with sensitive info omitted, of course) on that thread for feedback before sending it. Unless someone thinks that would be inappropriate. I do see that Denise says that "notifying the management company of your intent to sell your timeshares isn't something that is normally done." So perhaps posting my draft is not a good idea?

Bill:

We want to help you, but with all due respect (...and Denise was entirely correct on this), any such "letter announcing intentions" is both unnecessary and irrelevant.
Accordingly, preparing (and / or posting a draft of) any such correspondence unnecessarily "proclaiming your intentions" is likely to be met with a deafening silence.

Post it if you wish, but you will likely be underwhelmed by the response (...if any is even offered, beyond others merely asking "why would you even do this"?).

 

[theo]

My $0.02 worth...

inadvertent duplicate post deleted...

 

[BSquared18]

The suggestions being made in this thread are very helpful, but I need to clarify one point.

Re: "...any such "letter announcing intentions" is both unnecessary and irrelevant."

I understand. But the letter I'm drafting is to see if they either would like to take back the deed or offer assistance (for a fee) to resell the timeshare. Denise says, "Letter #2 is for a completely different purpose, because to deed it back, the resort has to agree to take it back - you have to contact them."

Theo, am I correct that you aren't suggesting that sort of letter is "irrelevant"? I realize that it's a long shot, but since it doesn't require a lot of effort on my part, I figure it's worth a try. Concurrently, I'll be following other paths, such as doing more research, preparing an ad, etc.

Bill

 

[theo]

The suggestions being made in this thread are very helpful, but I need to clarify one point.

Re: "...any such "letter announcing intentions" is both unnecessary and irrelevant."

I understand. But the letter I'm drafting is to see if they either would like to take back the deed or offer assistance (for a fee) to resell the timeshare. Denise says, "Letter #2 is for a completely different purpose, because to deed it back, the resort has to agree to take it back - you have to contact them."

Theo, am I correct that you aren't suggesting that sort of letter is "irrelevant"? I realize that it's a long shot, but since it doesn't require a lot of effort on my part, I figure it's worth a try. Concurrently, I'll be following other paths, such as doing more research, preparing an ad, etc.

Bill

Bill:

We have a simple misunderstanding here regarding your most recent "letter" reference and I apologize for any confusion on my end. Please let me clarify:

If you were preparing (as you initially expressed) a letter to resort management advising of your intent to sell, any such letter is indeed unnecessary, irrelevant and a complete waste of your time and effort. You simply don't need to provide notice or acquire anyone's "approval" to attempt to sell that which you own, free and clear.

On the other hand, if the letter to which you now refer more recently is, in fact, a letter to the BoD / HOA formally requesting they they accept a "deedback", that letter is certainly both wise and entirely appropriate (although, as stated previously, the odds for success in gaining their acceptance may only be even, or less). They are highly unlikely to help you in any other way (besides considering deedback acceptance). There may be a resale agent on site but if so, commission is very likely 25-30%; that's of no real help to you if the week(s) have no resale value anyhow. Deedback acceptance is frankly just about all that the BoD / HOA can possibly do for you.

I hope this clears up any unintended confusion. I actually thought (perhaps mistakenly) that you were still on the track of unnecessarily "announcing intent to sell".

I wish you luck and success.

 

[BSquared18]

No problem, Theo. Your explanation simply provides me with some additional useful information. I would happily accept even odds, but I suspect they are closer to zero. At any rate, I wouldn't bet any money on getting any satisfaction. But it's worth the price of a postage stamp or two.

BYW, drilling down a bit further, let me repeat a couple of questions I asked earlier in this thread but which got lost in the discussion:

I have names and addresses of the HOA president, vp, secretary, and two directors. I'm going to see if I can find any of their phone numbers and/or email addresses. I suppose contacting the resort and asking for that information would be okay--or not? Any opinion?

Failing finding any other contact information, one of my next steps will be to compose a letter to send to one or more of the members. Any suggestions as far as whom I should send it to, position-wise? And to just one member, or more than one?

Thanks again,
Bill

 

[theo]

No problem, Theo. Your explanation simply provides me with some additional useful information. I would happily accept even odds, but I suspect they are closer to zero. At any rate, I wouldn't bet any money on getting any satisfaction. But it's worth the price of a postage stamp or two.

BYW, drilling down a bit further, let me repeat a couple of questions I asked earlier in this thread but which got lost in the discussion:

I have names and addresses of the HOA president, vp, secretary, and two directors. I'm going to see if I can find any of their phone numbers and/or email addresses. I suppose contacting the resort and asking for that information would be okay--or not? Any opinion?

Failing finding any other contact information, one of my next steps will be to compose a letter to send to one or more of the members. Any suggestions as far as whom I should send it to, position-wise? And to just one member, or more than one?

Thanks again,
Bill

For whatever it's worth, my suggestion would be to not pester the (unpaid, volunteer) BoD / HOA members with phone calls before first initiating and signing written snail mail correspondence; you just never know if / when your unexpected call could be untimely --- and again, bear in mind that those folks are unpaid volunteers. IMnsHO (...stated from the perspective of a sitting Board member --- although not at your resort), it may better enhance your odds if you first submit a well articulated letter to the Board President and just cc: all of the other Board members (often between 5-7 people in total). Feel free to overtly state your firm belief that their voluntary acceptance of "deedback" seems more efficient, timely and less expensive than foreclosure proceedings. The point made is subtle and polite --- but still quite clear.

Email copies of the signed, snail-mailed letter, but don't rely solely upon email for successful delivery (spam folders, inaccurate or typo-error email addresses found in newsletters, etc, can all serve to foil successful delivery).

Most Boards at independent (i.e., non-"chain") facilities generally meet 3-4 times per year. Often, Boards practice an internal "understanding" that only the Board President will actually issue substantive written responses on behalf of the collective BoD / HOA anyhow (beyond courtesy replies from others merely "thanking you for your correspondence and interest".) If you don't receive a formal response from the Board President within a 90-120 day time period, it might then be appropriate to follow up with phone inquiry --- but leave any direct phone contact for absolutely last. Just my personal opinion and suggestion.

Again, I wish you luck and success.

 

[DeniseM]

Theo is telling you that it may take quite awhile to give it back to the HOA - or they may not take it back at all.

To increase your chances, there is no reason not to get it posted as a free timeshare on the TUG Bargain Deals Forum - at the same time.

It is entirely possible that you could give it away yourself, before you get a response from the resort.

 

[theo]

<snip> I'm going to see if I can find any of their phone numbers and/or email addresses. I suppose contacting the resort and asking for that information would be okay--or not? Any opinion?

I neglected to answer this one question in my reply above. The resort will most likley voluntarily provide or confirm current mail addresses and email addresses for BoD / HOA members, as they should. They are unlikely to divulge any phone numbers, however. Some phone numbers you may be able to find on your own in the public arena. Others (i.e., unlisted, unpublished) you may never find unless voluntarily provided to you by their owner.

 

[theo]

Yessa!

Theo is telling you that it may take quite awhile to give it back to the HOA - or they may not take it back at all.

To increase your chances, there is no reason not to get it posted as a free timeshare on the TUG Bargain Deals Forum - at the same time.

It is entirely possible that you could give it away yourself, before you get a response from the resort.

Absolutely correct and very good advice.

 

[BSquared18]

Thanks again.

Based on the very insightful suggestions, I'll take a two-pronged approach: snail-mail a letter to the president, cc'd to the other officers, and while waiting for a reply, use all available, legitimate, low/no-cost avenues to advertise my timeshare.

I didn't have anything else to do with my time...

Oh, I suppose it wouldn't hurt to include a self-addressed, stamped return envelope?

Bill

 

[theo]

Thanks again.

Based on the very insightful suggestions, I'll take a two-pronged approach: snail-mail a letter to the president, cc'd to the other officers, and while waiting for a reply, use all available, legitimate, low/no-cost avenues to advertise my timeshare.

I didn't have anything else to do with my time...

Oh, I suppose it wouldn't hurt to include a self-addressed, stamped return envelope?

Bill

I'd only bother to do that with the (original document with your original signature) request which you send to the BoD President.
None of the others are really authorized to respond independently with a reply anyhow, beyond "thanks for contacting us, our BoD President will reply". Good luck.