Should I accept a free timeshare?

[snetram]

Hello all,
Here is my situation. My inlaws are aging and would like to give their timeshare contract to my wife and I. Their resort is in Branson and we have no interest in vacationing there. They pay 1100 for a two bedroom every other year in March. We would only want to use it for exchange weeks elsewhere. I have no idea what the trading power is but I have read that Branson isn't that great. One benefit is that there is an RCI resort close to us that we do love going to. They quite often are able to book it for 400 a week. Should we accept this " offer" or decline? Seems like most people would say RUN!!!

 

[SteveinHNL]

There's so much more to consider than that it's just free. I would want to know what the trade power (TPU) is for this unit and how many TPUs it takes to trade into the resorts you would want to go to. Also be aware RCI charges a fee (not sure if its $300 or so) to make that exchange. Plus the resort you trade into may have a daily resort fee. Timeshares are great and we love ours, but we carefully researched what we wanted, where we liked to go, and which system met our specific wants before we committed to them. Scan the board for the different systems and ask questions here, you will learn a lot and this will help you decide!

 

[claraj]

I agree. Many timeshares are free or nearly free in the resale market. Find one that's in a system that works for you.

 

[samara64]

I would pass. If they cannot reg rid of it, it will go away when they pass away.

 

[gravityrules]

What resort? Any value owning in this resort's system?

 

[snetram]

Yes. I will find out which resort it is. Not hopeful that it has much trading power.

 

[CaliSunshine]

Get all the details: resort, exact week, how many points or toys.

I’m a bit of a different opinion: assuming it’s not one of those impossible to give away weeks (which exist!) you can use it to dip your toes into the timeshare ecosystem and then, importantly, dispose of it.

But if it is then you can at least help them dispose of it with the most minimum of fuss (either giving away, deeding back, or worst case letting it go into foreclosure). Assuming you get along with your in-laws this would be a big favor to them.

 

[TUGBrian]

Their resort is in Branson and we have no interest in vacationing there.

that should give you your answer if nothing more...buying a timeshare in a location full of timeshares for the purpose of exchanging is usually a very poor idea. (vegas/orlando/etc)

are unlimited free timeshares available...taking the plunge into ownership should not come without research especially if you have zero interest in the resort or location itself!

 

[HedonisticEpicurean]

The Japanese saying "tada yori takai mono wa nai" is most fitting in situations like this. The saying translates to "There is nothing more expensive than something given for free."

Do your research and make sure it is something you really want. There is a reason for the saying "there's no such thing as a free lunch" as it certainly applies here. While you may not pay an initial fee for this timeshare, it may become the biggest worst financial obligation in your life.

If you want a timeshare you may be better off buying something of value that meets your travel needs.

 

[vacationtime1]

If it weren't your in-laws, this would be an easy and definite "no, thanks".

But because it is your in-laws, . . . let us know the details of the unit (name of project; size; season; etc.) and we may be able to tell you how difficult it will be to get rid of should it not work for you.

 

[letsgobobby]

hard no

 

[4TimeAway]

Free is not free in timeshares.

You are accepting the annual maintenance fees forever in most cases.

On the other hand, some people hate timeshares and give things away that are quite nice.

I'd be inclined to pass, but you should try to learn what they have before you say no.

 

[rickandcindy23]

I wouldn't take it myself, especially as a trader in RCI. I would pass on that. I am getting rid of everything I can that is in RCI. It's been a good ride but $299 exchange fees is too high, and the combine fees have gotten out of hand.

You said something about a resort you like that is $400 per week? Which one is $400 per week through RCI?

 

[DeniseM]

Definitely don't take it, but you can help your in-laws give it away for free here on our Free Timeshare Forum, and if you actually WANT a timeshare, this is a great place to find a better match for you:

Free Timeshares

Timeshare ownerships offered completely free by owners! Rehome an unwanted timeshare at no cost! Timeshares listed here must be offered completely free!

tugbbs.com

 

[CalGalTraveler]

Another idea: How about Try and buy. Why don't they keep it in their name, you pay the annual maintenance fees, they give you their login credentials or book for you and you try trading it for a year in RCI. Get a guest certificate from RCI when a reservation is made. Then you can decide whether to decline or take it.

No matter what, do not add your name on this resort during this trial period or you own it and will be stuck with it.

 

[Panina]

I would pass. Only take for free something that will be easy to give away when you don't want it anymore.