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How do you get rid of a timeshare?

It's maintenance fees are killing us and we're having financial difficulties. My wife's company closed the Timeshare company tells me that if we foreclose they'll go after our credit rating. Help!

5 Answers

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  • 1 decade ago
    Favorite Answer

    Timeshares are a money pit.

    You should get out from under it, even if it means selling it for $5 ( does not matter that it cost you $13,000 - anyone who knows anything about timeshares know it's not worth anything ).

    Do your friends a big favor and tell them to avoid timeshares under any circumstances. I ahve seen so many folks in the same predicament as you.

  • Anonymous
    1 decade ago

    If there is a mail box or a community bulletin board at your home resort, you can put a “For sale” sign. This will pressure the developer specially if they sell it for $20,000 USD and you offer it for $5,000. Sometimes on the fine print of some sale agreements says that the developer has the first right to buy if your place is ever sold. I have heard of developers paying the money (as long as is not too much) just to take the sign out.

    To resale or rent a timeshare is a hard task, the basic rule is not to pay money up-front, don’t be another victim of a scam.

    Unfortunately over 50% of people that really need to sell their timeshare falls for this resale scams where they charge money upfront and less than 10% of them use their only real option which is to post it or offer it trough free advertising options as much and as many sites as they can (it is ok to pay a few dollars to post in a great place but no more that $20 to $30).

    Timeshares do not have resale value and in most situations you would take a loss in what you paid for, as they resale for less than $2000 USD.

    There are some free classified where you can post:

    http://timeshareownerscommunity.com/

    http://craigslist.com/

    http://ebay.com/

    http://recycler.com/

    http://usfreeads.com/

    http://www.inetgiant.com/

  • Anonymous
    1 decade ago

    I've seen a lot of time shares for sale on Ebay - pretty nice ones too.

    Sell it for $1, don't get greedy. Just let it go and someone else will take care of all the fees.

    TimeShares Only will charge you fees for selling your timeshare with no guarantees.

    You may also try that.

    And please, tell all your friends (every single one) never to get a timeshare.

    I'm a cost analyst and it will always be cheaper just to rent the apartment or suite hotel, than to get a timeshare.

    /

  • Ryan M
    Lv 7
    1 decade ago

    You have to sell it to some other sucker who will fall for the idea that a timeshare is a great idea!!!

  • 1 decade ago

    Easy, if you don't want it and can't afford it, just sell it for a 100 bucks, I bet many will take over for you.

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