What's the timeshare, and are fees currently delinquent?
The timeshare is the Grandview at Las Vegas and maintenance fees are current, in fact it's actually paid in full. I have it for rent and for sale on TUG.
What's the timeshare, and are fees currently delinquent?
The quickest way to get rid of your timeshare is to find someone else to buy it and to take your name off the deed, or check and see if the resort will allow you to deed it back to them. If you stop paying you're still going to "own" it at least for several more years until they choose to foreclose.
Are the maintenance fees all that you owe, or do you still owe on the purchase too? How far behind are you (if at all)? Those would have to be answered if you want the best advice from here.
IMHO, not so much defensive as accurate, from the POV of a HOA-BOD trying to enforce MF's for the benefit of all other owners. It's not an easy task deciding what's in the best interest of the owner's as a group. Do you (1) let a delinquent owner off the hook with a deed-back, (2) turn him over to a collection agency, or (3) commence foreclosure proceedings -- all of which means (a) no MF from that owner and (b) more expenses for the HOA, which does what? Increase MF's for other owners. Who pays for that?
-- This isn't rocket science.
What the HOA-BOD cannot do is simply let it slide. That would be contrary to their fiducuary duties.
But it is also true that a foreclosure could have minimal consequences for a defaulting owner. Perhaps no one will refer the matter to a collection agency or notify the credit reporting agencies, no one will check for judgment liens, and a bank will rely on a credit report that overlooked it.
First hand experience: I had a brother who stopped paying a mortgage (and other bills) who we took in for a few months. The calls from collection agencies, certified letters, and other annoyances finally stopped... after about two and a half years. But who knows? It may not happen to you.
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And they say I'm Stoic, hahWhere?
Well, we're getting luke warm. Any first hand experience with a timeshare? Say, in Mexico?
The timeshare is the Grandview at Las Vegas and maintenance fees are current, in fact it's actually paid in full. I have it for rent and for sale on TUG.
personally in your situation, id make more efforts to pressure the resort into taking it back. write the HOA an actual letter, be honest and stern about the situation...even mention your options at this point are to just stop paying.
personally in your situation, id make more efforts to pressure the resort into taking it back. write the HOA an actual letter, be honest and stern about the situation...even mention your options at this point are to just stop paying.
I think I brought it for a great deal, 10k...
Of those that are suggesting credit dings, bad things will happen, etc., are you speaking from first-hand accounts? Can you provide an example or two, of people you know personally that had their credit dinged?
I'm being a good daughter, and trying to get rid of my Dad's timeshare. Very happy to find this site--nice to have people NOT trying to scam you, you folks are great at tracking that down.
Here's the details: Alpenland Sporthotel St. Johann im Pongau, Austria. I actually took Dad there five years ago so he could see it, it's nice! Studio, floating week, paid in full and current on the maintenance fees of $680.60 a year. One week booked from this year, and of course another available for 2016.
Here's what I've done:
First, contacted American Resorts International to check on details and see if they'd deed back. Nope.
I've contacted three charities to see if they'd take it. Nope.
So, listed in TUG marketplace and Bargain Deals, for free.
I'll put it up on Ebay.
I've listed it with Worldwide TSHypermarket, since they seem to be more active in Europe.
But...what happens if I get no takers? I'll post my results here, and I'm hoping for good ones, but any suggestions for when all the options are exhausted? There are quite a few of these for sale from resellers, I'm guessing they're not popular just due to the distance from the US.
Thanks for any advice...I know, if it were easy there wouldn't be so many frustrated folks on here...
I don't want to rub salt in your wound but I would hardly call buying a Las Vegas TS for $10k "a great deal", especially in your OP you state how badly you want to get rid of it and that you will let it go for free.
How did the salesperson convince you that $10k for something that can probably be bought for $1 or less is " a great deal"?![]()
If I have to foreclose than so be it, I already own a house thus taking a ding in my credit won't be a big deal.
Hey, don't feel bad. Everyone on here thinks I'm crazy too. I bought 490000 Wyndham points direct. I had bought a few different systems, sold a few, resale, before I bought Wyndham. If you look at the posts, just about everyone on here made a purchase from a developer. Have you enjoyed it at all?Suicide is NEVER the answer. You're right I should have did my research before purchasing it but like so many others I did not and I just want to do the right thing in getting rid of it. If I have to foreclose than so be it, I already own a house thus taking a ding in my credit won't be a big deal.
Offer to pay for a year's worth of MFs. Grandview is regularly mentioned here and I think people tend to like owning there.Maintenance fees are current and it's paid for in full. I have it for rent and for sale on TUG. I will call and see if the resort will take it back. I think I brought it for a great deal, 10k, and it's worthwhile if I actually use it, just don't like the maintenance and exchange fees.
Can your dad no longer take responsibility for this? If he cannot, I'd keep the ads going, but stop paying. Let the resort deal with the consequences. If your dad is not able to deal with it, I'm assuming he won't need a great credit rating.I'm being a good daughter, and trying to get rid of my Dad's timeshare.
But...what happens if I get no takers?
Offer to pay for a year's worth of MFs. Grandview is regularly mentioned here and I think people tend to like owning there.
If you really don't care about your credit rating, contact the resort and let them know you won't continue paying as you no longer want it. That will help speed up the foreclosure process. You may even convince them to do a deed back.
Can your dad no longer take responsibility for this? If he cannot, I'd keep the ads going, but stop paying. Let the resort deal with the consequences. If your dad is not able to deal with it, I'm assuming he won't need a great credit rating.
It often helps to speed along the process. Some people who are on the fence about taking your contract will decide to go for it because it comes with a free year of use. You'd want to title your Bargain Deals thread with the name of resort and free MFs for first year to make it stand out.Does it help to offer another year of maintenance fees? I'd pay that myself to get him out from under it...