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what would you pay to get out of your timeshare?

what would you pay to exit your timeshare, if the payment was ONLY due after success etc.

  • $500

    Votes: 17 27.4%
  • $1000

    Votes: 11 17.7%
  • $2500

    Votes: 3 4.8%
  • $5000

    Votes: 3 4.8%
  • 1 years maint fees

    Votes: 23 37.1%
  • 2 years maint fees

    Votes: 5 8.1%

  • Total voters
    62

TUGBrian

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owners who have timeshares with resale value are not likely going to be looking up folks to help them get out =)
 

TUGBrian

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again, this isnt intended to point out the ridiculousness of the exit industry folks...

the harsh reality is that exit companies make tens of millions every year in this market, most do so charging absolutely ridiculous amounts to owners, usually after a marketing pitch that reinforces their fear that they have no other options so they pay a huge amount upfront.

pretending that there are not a huge number of owners willing to pay for someone to get them out of their timeshare is not a realistic view of the industry, a service that offered this only upon successful completion would be much more appealing to owners in these situations no?
 

avad88

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I would pay a reasonable recording fee and deed preparation which should be no more than $200-$300, just to avoid time and trouble.
Diamond Resorts wanted $1,500 to take back our summer week in the Outer Banks 2 years ago. What a joke. We gave it away to a relative, and they paid closing fees but Diamond required unnecessary paperwork.
 

tdietvorst

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It is a beautiful day in South Loop Chicago. I am on the 53rd floor looking out over the Museum Campus and the lake. I think that puts me in a good enough space to take up TugBrian's question without any fateful consequences - at 72 I want to be careful to take up such painful issues because of possible health consequences (-:). Of course if I dropped dead that would take care of the Time Share Question - at least for me. We bought all of our timeshares at developer prices - before we discovered TUG. We had "good reasons" for the transactions we did - I can't imagine you want to read a book. The maintenance fees increase every year, last year they were $3593.27 - I want to get get rid of them. It is not that we can't afford them. I married well 50 years ago so we can afford them. (-:) This same financial person gets us hotel rooms on points (I know, I know, stupid). We have a 50th anniversary trip to Hawaii set for next year so at least we'll get some benefit next year. You don't have to be a financial genius to see that we would be a lot better getting rid of the timeshares and paying cash. My son, who teaches at the Booth School, doesn't want them - you do have to work at getting him to stop laughing when we get on the topic of timeshares.

I offfered them for sale through Redweek...and if I remember correctly on TUG - no purchasers.

I think a year's maintenance fees would be great.
Now convincing my better half...
 

TUGBrian

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looking at your previous for sale ads, they were all asking for a few thousand dollars to be paid by the seller vs giving it away for free?

making a determined effort to find someone to take over your timeshare by offering it completely free will always remain a suggestion prior to engaging in any other activity short of contacting your resort to negotiate a deedback.

as yours is a HGVC ownership, what was their response when you contacted them to ask to surrender your ownership back?
 

Arusso

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yes sorry, that was totally the intention.

no illegitimate/illegal/borderline fraud/whatever concepts even in mind. just a flat out "timeshare exit" with payment on the back end...vs upfront.

eg. you no longer want your timeshare, and also dont wish to be bothered doing research on your options to get out of it vs just paying a fee once its done.
I would imagine such a program would be very popular because TS owners do not have to deal with the developer or answer inquiries from ads placed. Yet, placing a fair price on this service is dependent on how the unwanted TS is eventually disposed of. Understandably, not all transfers would require the same work and an Exit company would be foolish to underprice a service. In consideration of the foregoing, it would make sense to put a max fee of no more than the cost of the MF on the unit to be disposed of.
 

Arusso

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H

They shouldn’t make any money or exist.
How about if EVERY timeshare company had to offer a walk away option to any owner who owed nothing after 15 years of ownership?
That would make sense, but what would be the incentive to do so as long as they have inventory to sell to new unsuspecting buyers?
 

Arusso

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When you acquire a timeshare "for free" the reality of the market is that you may have to "pay" when it is your turn to move on from ownership.

That can mean footing the transfer, legal and other fees associated with moving the timeshare to its new owner.

While a timeshare may be paid in full, that doesn't mean it has any value. It just means you don't have any debt.

Getting rid of the burden of maintenance fees is a good reason to pay those fees for the new owner.
Regrettably, your statements are spot on.
 

easyrider

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The last timeshare we gave away cost us the MF and closing cost which was about $1000. The last timeshare we bought cost us the closing cost of about $300. I could have kept the timeshares we gave away and rented them out but it was sold and the rules changed.

Bill
 

pedro47

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In fairness, most timeshares that any buyer obtains for free through any third party - are because the seller is picking up the third party fee structures and any transfer costs to the buyer - not because the entire transaction itself is free of charge/expense.

What is the percentage of reseller owners that obtain their timeshare for free Or a resell timeshare.
IMO, I feel it is than twenty (20) %.

I feel timeshare developers are not losing one dollar. Timeshare developers can sales the same Villa for 51 weeks. Next the timeshare developers adds points or joining a resort club to the equations.

Who do you feel is the winner the timeshare owners or the timeshare developers???

How many Villas are in the average timeshare building. I am going to be safe and say 12 Villas.

Why should any timeshare owners needs to pay any timeshare developers to take back their timeshare. All that timeshare developers are going to do is to sell again at full price or half price. That developers is still making money on a used timeshare Villa.IMHO.
 

Arusso

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What is the percentage of reseller owners that obtain their timeshare for free Or a resell timeshare.
IMO, I feel it is than twenty (20) %.

I feel timeshare developers are not losing one dollar. Timeshare developers can sales the same Villa for 51 weeks. Next the timeshare developers adds points or joining a resort club to the equations.

Who do you feel is the winner the timeshare owners or the timeshare developers???

How many Villas are in the average timeshare building. I am going to be safe and say 12 Villas.

Why should any timeshare owners needs to pay any timeshare developers to take back their timeshare. All that timeshare developers are going to do is to sell again at full price or half price. That developers is still making money on a used timeshare Villa.IMHO.
What we learn in life is that what is logical, fair or even legal is not necessarily what happens in the world of TS ownership.
 

Happytravels

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We are down to three!!
One of ours was free to return (we also returned others that were free and one we paid a years mf's), then it went to $500.00 and now they want $1200.00 this was all within a year I believe. I think they got flooded and they needed a way to stop all the returns. We are still on the fence on keeping it or returning it. I will say it has a few perks, that we like and use.
 
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