Timeshare giveaway question

[lark]

I'm getting ready to list a timeshare as a bargain for $.01 that I think will draw some interest.

My hope is to have the seller take care of everything and pay any fees -- I'd just want to sign over the deed. What if anything do I need to do to protect myself? Seems like there is not much risk on my end, other than perhaps the buyer not actually doing the transfer with the resort. But as with all things timeshare, I am probably not thinking of everything.

 

[rsnash]

If you're talking about a bottom of the barrel eBay listing, you may have to resort to paying the closing costs as well, it's getting to that point (check out Branson listings).

 

[bnoble]

If writing the MF check now won't kill you, I think I'd pay the 2009 fees, and then try to list it in mid/late spring. If usage is late enough, you can specify that buyer gets '09 use, and reimburses costs. If it's early, you could either deposit (and transfer the deposit for a smallish fee) or use/deposit it yourself.

 

[funtime]

definately try to lock in the best week possible now as that will make a difference in selling - you can advertise the selected week and future usage. (The buyer can always change if they do not like your week.) Funtime

 

[rhonda]

My hope is to have the seller take care of everything and pay any fees -- I'd just want to sign over the deed.

Did you mean buyer in sentence above??

 

[lark]

lol -- yes, I meant buyer!

I've paid the MFs for 2009, and there is some value to the TS, so I think someone will probably want it -- in this market, though, who knows? What I'm asking for in return is that the buyer just takes care of everything, but just want to be sure I'm not missing anything. It seems to me that the only real concern is that I'll get my 2010 MF assessment in 12 months and find out that the TS never actually transferred.

 

[DeniseM]

If you use a TS closing/escrow company, you will have documentation of transfer. For the quickest results, you should pay for closing.

 

[falmouth3]

Lark, you can also expect that the buyer would reimburse the 2009 maintenance fee. But if you're paying that as well, I'd certainly make that fact known as it's a BIG advantage, IMO.

Sue