What resorts take it back for $0 - FREEEEEE

[decadude]

Just kind of thinking out loud and was wondering what resorts will take the timeshare back for $0 - yes free.

I only know Silverleaf does take deedbacks for $0 only reason I know is I am an owner and asked owner services on more than one occasion so multiple representatives all said the same thing.

Lets see if we can start a running list.

 

[tschwa2]

Problem with a list is these offers are rarely standing offers forever and ever. What a resort may do today isn't what it will do tomorrow. What a resort did last year isn't what it is going to do next year. One resort I own at had a sliding scale starting at $0 depending on the week and unit size you owned. Some resorts will take back certain units/weeks and not others. Some will require you to meet a certain criteria to qualify for hardship take backs.

 

[Ty1on]

Right now, Wyndham is taking many contracts back at no cost. Depends on if it's an interval they can roll into CWA or not.

 

[TUGBrian]

never hurts to ask...doesnt matter what resort it is!

an owner should always inquire if their hoa will accept a paid off week back.

 

[decadude]

Problem with a list is these offers are rarely standing offers forever and ever. What a resort may do today isn't what it will do tomorrow. What a resort did last year isn't what it is going to do next year. One resort I own at had a sliding scale starting at $0 depending on the week and unit size you owned. Some resorts will take back certain units/weeks and not others. Some will require you to meet a certain criteria to qualify for hardship take backs.

I understand and I should have posted this info you're right its not a standard, but with some resorts like my home resort for instance it has been policy for quite some time, but yes the policy would be subject to change.

 

[csxjohn]

Alhambra at Poinciana took back my deed recently. Although not free, $250 was very reasonable.

 

[b2bailey]

My thought on this subject -- if a resort won't take back a unit 'for free' -- what are they saying (admitting) about the value of the unit?

 

[decadude]

My thought on this subject -- if a resort won't take back a unit 'for free' -- what are they saying (admitting) about the value of the unit?

wow amazingly good thought

 

[WinniWoman]

Smugglers Notch has just developed a whole new convoluted system they require their owners to use when renting out their units/weeks. They have several Options from which owners can choose from in renting out their units.I won't even get into it. Suffice it to say, it is messed up.

They claim they are doing this because "many owners have outgrown Smugglers' and asked mgmt to provide an alternative to selling their Ownership at the very low rates available on the Internet." What the selling has to do with renting I don't know.

Initially they had said it was because of the rentals on the internet cutting into the rentals some owners do through Smuggs, especially the fractional owners with multiple weeks, like the 1/4 share or half year owners. So they wanted to blame this problem on the multitude of lowly weeks and points club owners who advertise on the internet and now they are enforcing these crazy rules for renting that will make it even more difficult to us to rent.

Additionally, they have posted the following in response to why they stopped doing resales. "Smugglers' can no longer establish a high value price for your home."

 

[glmyers]

My thought on this subject -- if a resort won't take back a unit 'for free' -- what are they saying (admitting) about the value of the unit?

What is says is the value of the income stream from maintenance fees is greater than the value of the unit. This is the reverse of the same calculation that cause a unit to be "unsaleable" on the secondary market. If the resort will take it back for free or a fee somewhere in the vicinity of one year's maintenance fees, the resort is "saying" the timeshare has some value because they are willing to give up the potential income to the association for the unit.

That is the simplistic answer, but there are also other variables to consider such as restrictions that may be in place and the costs of marketing to a new owner. It cost the association money to take back a unit. It is not unreasonable for them to ask the person being relieved of a financial obligation to share those costs.