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What are my best options for a Pahio property on Kauai that's paid off?

rnclyman

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My wife and I own a 2 bedroom floating week at Pahio Ka' Eo Kai in Princeville, Kauai. It is paid off, no mortgage...over the years we have used it to trade into other resorts. The yearly fees run $1639, I would consider selling it, I don't want my kids to inherit the fees. Otherwise, try renting? I have approached Wesley Financial Group hiring them to void the contract, I'm sure they charge a pretty big fee. Any suggestions?
 

Travelkat

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Most people don’t know that most timeshare companies will take the timeshare back if you just ask. I just tell them I can no longer afford the maintenance fees and they start the process of ”deed back”. I never had specific dealings with this company myself, but all you can do is try. I have deeded back several timeshares over the years without any cost to myself. Most recently I gave back two Vistana properties. Also there is really nothing they can do to you if you just stop paying, they will eventually foreclose but since this is a timeshare it will most likely not even show up on your credit report.
 

LannyPC

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My wife and I own a 2 bedroom floating week at Pahio Ka' Eo Kai in Princeville, Kauai. It is paid off, no mortgage...over the years we have used it to trade into other resorts. The yearly fees run $1639, I would consider selling it, I don't want my kids to inherit the fees. Otherwise, try renting? I have approached Wesley Financial Group hiring them to void the contract, I'm sure they charge a pretty big fee. Any suggestions?

Funny thing, someone just joined earlier this week asking about Wesley Financial. Check the Tug Lounge forum for the thread. There's a link in there linking to other threads about WFG. I will tell you what I told the other poster as well as what was said in the other threads. Do not use any company or law firm (WFG included) that claims it can cancel your timeshare or mortgage.

TravelKat gave you some good suggestions above.
 

DaveNV

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Why not try to sell or give it away on Tug, rather than pay somebody to take it back? Even if you need to pay closing costs, you're still money ahead.

Dave
 
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Travelkat

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Funny thing, someone just joined earlier this week asking about Wesley Financial. Check the Tug Lounge forum for the thread. There's a link in there linking to other threads about WFG. I will tell you what I told the other poster as well as what was said in the other threads. Do not use any company or law firm (WFG included) that claims it can cancel your timeshare or mortgage.

TravelKat gave you some good suggestions above.
I would never pay a company to help you, you would only be throwing good money after bad.
 

ecwinch

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Most people don’t know that most timeshare companies will take the timeshare back if you just ask. I just tell them I can no longer afford the maintenance fees and they start the process of ”deed back”. I never had specific dealings with this company myself, but all you can do is try. I have deeded back several timeshares over the years without any cost to myself. Most recently I gave back two Vistana properties. Also there is really nothing they can do to you if you just stop paying, they will eventually foreclose but since this is a timeshare it will most likely not even show up on your credit report.

In some cases that is all these timeshare relief companies like Wesley do... they just check to see if there is a deedback program... essentially charging you thousands for making a phone call and having some paperwork sent to you...
 

jacknsara

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Have you tried contacting Wyndham to see if they would take it off your hands? I know of at least one non Wyndham Ka'Eo Kai owner who got out of their ownership by doing that
 

rnclyman

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Funny thing, someone just joined earlier this week asking about Wesley Financial. Check the Tug Lounge forum for the thread. There's a link in there linking to other threads about WFG. I will tell you what I told the other poster as well as what was said in the other threads. Do not use any company or law firm (WFG included) that claims it can cancel your timeshare or mortgage.

TravelKat gave you some good suggestions above.
Thanks Lanny... will have a look at those threads. I also have seen something called LT Transfers? Are you familiar with them?
 

bogey21

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Forget the companies that advertise that they will help you get rid of your unwanted TimeShare. All they want is your money. The advice you get on this site is sound. Your first phone call should be to the Resort (or the entity in whose portfolio the Resort resides) to see if you can do a Deed Back. If that doesn't work out, go to Plan B. Determine if it is salable. If it is, take a shot at selling it. If not, try to give it away here on TUG...

George
 

TheTimeTraveler

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Thanks Lanny... will have a look at those threads. I also have seen something called LT Transfers? Are you familiar with them?


LT Transfers are the best the business, but I don't believe they can do business in the State of Hawaii if escrow monies are involved. Now if you give it away then you won't need to worry about the escrow issue.

By the way, Hawaii is the only State that has this "quirk law". I believe it was passed in order to keep the Timeshare Transfer business within the State of Hawaii.

As others have said; "Pay no one to take this off your hands". They'll just take the money and run. Would you pay in advance to sell your home? Of course not..




.
 

T_R_Oglodyte

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I sent you a PM. As stated in my PM, you should be able to give away a fully paid-off 2-bedroom unit at Ka 'Eo Kai in the Bargain deals forum. No need to pay someone to take it off your hands, especially if you are willing to pay transfer fees. It probably doesn't have any significant value, but I don't believe it's a financial liability.
 

rnclyman

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Most people don’t know that most timeshare companies will take the timeshare back if you just ask. I just tell them I can no longer afford the maintenance fees and they start the process of ”deed back”. I never had specific dealings with this company myself, but all you can do is try. I have deeded back several timeshares over the years without any cost to myself. Most recently I gave back two Vistana properties. Also there is really nothing they can do to you if you just stop paying, they will eventually foreclose but since this is a timeshare it will most likely not even show up on your credit report.
Thanks...
 

rnclyman

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In some cases that is all these timeshare relief companies like Wesley do... they just check to see if there is a deedback program... essentially charging you thousands for making a phone call and having some paperwork sent to you...
Thats great information...thanks.
 

T_R_Oglodyte

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check your conversations.
 

LannyPC

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I also have seen something called LT Transfers? Are you familiar with them?

LT Transfers just handles the legal paperwork to transfer ownership from one willing seller/owner to a willing buyer or taker once the seller/owner and buyer/taker have agreed, but the key word is "Willing". LT does not cancel or get someone out of a timeshare or contract.

So if you do find a willing buyer or taker for your TS, then by all means, use LT to handle the legal paperwork for transferring ownership.
 

flindberg

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I have a deeded week at Pahio Ka Eo Kai which was converted to Wyndham points when Wyndham took over its management (in the late 1990's I believe). At one point we were looking at getting out of the contract (and 2 other Wyndham contracts). If it's a Pahio week I don't know how you would handle it. But if it is a Wyndham contract then Wyndham Ovation Program is who you need to speak to. Tell them you are interested in a Deed Back. There should NOT be any fees associated. If they tell you there are I would tell them I wasn't interested and hang up. But I would call back in hopes of talking to someone more sympathetic. I would NOT accept paying Wyndham another dime. Other people have negotiated to retain unused use year points during the transfer - which makes sense because Wyndham's title transfer process is painfully slow.
I spoke to LT transfers a couple of years ago. They took $150.00 from me, looked at my paperwork while I sat in their office, then told me it was something I could undertake myself. I thought $150 was a little steep for that bit of information - but I doubt it would have been cheaper anywhere else. There were only 2 people in the LT Transfers office when I went in. One staff member - allegedly up to date on Hawaii laws - was not there that day. It was very helpful to write lists of questions for my encounters with both LT Transfers and Wyndham.
 
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