[ 2012 ] How we FINALLY got rid of our timeshare

[OprahtheHutt]

We were finally able to get rid of our timeshare after over a year of trying to sell it or give it away.

* We had listed it for sale on eBay and Craigslist multiple times (for free).
* We tried donating it to DFAC (they weren't interested).
* We contacted the resort owner and HOA for a deedback (they weren't interested).
* We were contacted by several internet companies who promised to list our property and help us to sell it (we weren't interested).

Then a friend from church was diagnosed with cancer and given a year to live. So we sold it to him (for $1) and then sent him and 3 of his buddies on a golf outing for a week (we paid the airfare and some of the greens fees for for the foursome). They called it "The Final Round" and had a great time. All in all, we shelled out maybe $1,000.

Our friend passed away several months later. Up until his death he was very thankful for the vacation and spoke of it often. His heirs elected not to claim the timeshare "asset" so it went to the courts to figure out.

Was the timeshare property wonderful? Yes. Did we use their network to visit other facilities? Yes. But we went through the steps recommended on this and other websites trying to sell to no avail. So we found a way out of maintance fees "in perpetuity".

 

[MOXJO7282]

So you used a dying friend to get out of your TS obligation? Wow that is a new one on me.

 

[AwayWeGo]

Viking Funeral Ship By Any Other Name Is Still A Viking Funeral Ship.

So you used a dying friend to get out of your TS obligation?

-- hotlinked --​

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[tschwa2]

Really. I've been considering giving one to my 93 yo grandmother and making sure the MF's obligations are covered as long as she is alive. I probably won't do it but I have been thinking about for awhile now.

That's what happens when there is no exit strategy in place for TS's.

 

[easyrider]

That is really cool that these people could enjoy your ts and that your finally rid of it.

Bill

 

[OprahtheHutt]

-- hotlinked --​

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

Where's my horned helmet? They are kind of cool.

 

[Egret1986]

That was a new one and though some are critical, you tried the other options

Where's my horned helmet? They are kind of cool.

That going away gift to your friend was a very nice gesture on your part ....and by your humorous retort, you feel good about it and nobody's going to rain on your parade.

 

[bshmerlie]

I actually think that was a great idea. Your friend had a great trip and you were able to get rid of it it. Win-win for everyone.

 

[MOXJO7282]

I'm sorry this is unethical and in my book pretty immoral that you used your friend's death to your benefit. You made a bad choice in your purchase of the TS and used the imminent death of a friend to get out from your financial obligation and just push the debt onto your fellow owners. And you and others are OK with that? Really?

I'm sorry I'm not some high and mighty person but that would not sit well with my moral compass. No way.

 

[OprahtheHutt]

It's morally better than paying MFs until the Rapture...

But I'll be OK. After all, the person who sold us the TS confided in us that he had 4 children with special needs and a very sick mother to take care of.

Apparently the only things guaranteed to TS owners are death, taxes, and maintenance fees.

 

[Dave*H]

I'm sorry this is unethical and in my book pretty immoral that you used your friend's death to your benefit. You made a bad choice in your purchase of the TS and used the imminent death of a friend to get out from your financial obligation and just push the debt onto your fellow owners. And you and others are OK with that? Really?

I'm sorry I'm not some high and mighty person but that would not sit well with my moral compass. No way.

Maybe true, but resorts need to come up with creative strategies to allow for an exit plan for owners. Forcing people to pay an MF on something they don't use and can't give away is not exactly moral either. The reality is that worthless properties are coming back to the resort eventually when the current owners die, declare bankruptcy, or decide they just don't care about a hit to their credit rating. All OprahtheHutt did is accelerate the process.

 

[RX8]

You don't buy a timeshare you buy an obligation

My first thought was good for Oprah (Winfrey?). The only thing the OP didn't try was to list it on TUG for free. Doesn't sound like the new buyer was scammed into buying the timeshare and each party got a benefit.

Joe made some good comments too but then I look at his timeshares and it doesn't look like he has a dog among them. Sure he probably paid handsomely for them but if he HAD to divest himself of his timeshares he likely could so in short time.

Unfortunately not everyone has had the means or knowledge to buy a timeshare that has true VALUE that allows one to rid themselves of the ongoing MF. The developers are phenomenal at convincing a buyer that the crappy timeshare week is perfect and sure to be an investment. Only after the owner tries to "sell" the timeshare do they realize that their week is below worthless and are stuck with the MF obligation in perpetuity. I can only imagine the stress of someone NEEDING to sell their timeshare only to find that there are no buyers.

I don't fault the OP for selling the timeshare the way she did.

I don't yet have a timeshare (I have come thisclose before) but one of the many things i have learned on TUG is to be sure to have an EXIT strategy already in mind with that purchase.

 

[MOXJO7282]

Joe made some good comments too but then I look at his timeshares and it doesn't look like he has a dog among them. Sure he probably paid handsomely for them but if he HAD to divest himself of his timeshares he likely could so in short time.

Unfortunately not everyone has had the means or knowledge to buy a timeshare that has true VALUE that allows one to rid themselves of the ongoing MF.

I don't yet have a timeshare (I have come thisclose before) but if there is one thing I have learned on TUG it is to be sure to have an EXIT strategy already in mind with that purchase.

Exactly. I went into my venture knowing if I had to I could dump my Marriotts even if it was pennies on the dollar I wouldn't get stuck with them. I had an exit strategy.

Nobody held a gun to the OP head to buy. They just made a bad choice and like so many in this world they don't take accountability and do what benefits them.

The same people that laughed at Marriott buyers like me for spending more for my Marriotts now are the ones stuck with their no name units they can't even give away.

The OP could have done just about anything else other than commit some type of fraud to get rid of his TS and I wouldn't have said a peep but to use the demise of a friend and to go on a public website to brag about it that takes it to another level that goes beyond tasteful for me. To each his own.

 

[timeos2]

The timeshare doesn't magically disappear even at death. His estate must still deal with proper disposal. Nothing is free.

 

[MOXJO7282]

We were finally able to get rid of our timeshare after over a year of trying to sell it or give it away.

* We had listed it for sale on eBay and Craigslist multiple times (for free).
* We tried donating it to DFAC (they weren't interested).
* We contacted the resort owner and HOA for a deedback (they weren't interested).
* We were contacted by several internet companies who promised to list our property and help us to sell it (we weren't interested).

Then a friend from church was diagnosed with cancer and given a year to live. So we sold it to him (for $1) and then sent him and 3 of his buddies on a golf outing for a week (we paid the airfare and some of the greens fees for for the foursome). They called it "The Final Round" and had a great time. All in all, we shelled out maybe $1,000.

Our friend passed away several months later. Up until his death he was very thankful for the vacation and spoke of it often. His heirs elected not to claim the timeshare "asset" so it went to the courts to figure out.

Was the timeshare property wonderful? Yes. Did we use their network to visit other facilities? Yes. But we went through the steps recommended on this and other websites trying to sell to no avail. So we found a way out of maintance fees "in perpetuity".

The other thing that strikes me is how bizarre the conversation about the TS must have been. "Gosh I'm so sorry about your cancer. Hey how about buying my TS so when you die I can be free of the payments and ah by the way you can use it once before you die." I just can't imagine someone even going there. I guess if it was a family member but still to tie anything to someone's death is just morbid and distasteful.

 

[NHTraveler]

I'm sorry this is unethical and in my book pretty immoral that you used your friend's death to your benefit. You made a bad choice in your purchase of the TS and used the imminent death of a friend to get out from your financial obligation and just push the debt onto your fellow owners. And you and others are OK with that? Really?

I'm sorry I'm not some high and mighty person but that would not sit well with my moral compass. No way.

I don't see it as using their friend in a bad way. I think what they did for him in the last couple months of his life was made it better for him. He used it and it made him happy...plus they paid for the trip. Nice.

If they were using him, they would have just dumped it on him, which they didn't.

 

[NHTraveler]

Also...Joe,

I understand the way you are looking at it...I do. I just think because he was on heaven's door, the trip he took gave him something to remember in the end.

 

[MOXJO7282]

Also...Joe,

I understand the way you are looking at it...I do. I just think because he was on heaven's door, the trip he took gave him something to remember in the end.

Somehow I don't think that was the prime motive but a by product of his actions.

If the OP would have come on and said" I gave away my TS week to a terminally ill friend and then realized that perhaps he could help me out". That would've been a different story although the same result I would have given the OP alittle slack but I don't think it happened that way because that is how the OP would have told the story.

So to me he hatched the plan for his own motives and then soften his guilt by saying his friend loved it. I'm sure he did but I truly don't believe that was the primary goal or again he would have told the story differently.

Hey JMHO who cares what I think.

 

[bogey21]

Exactly. I went into my venture knowing if I had to I could dump my Marriotts even if it was pennies on the dollar I wouldn't get stuck with them. I had an exit strategy..........The same people that laughed at Marriott buyers like me for spending more for my Marriotts now are the ones stuck with their no name units they can't even give away.

OK, let me get this right. Buy a Marriott Week for say $12,000 (No. I don't know what you paid. This is just an example.) and sell if for $1,000. Loss is $11,000. Alternatively buy a Week at an HOA managed Independent for say $1,000 and do a Deed Back at a cost of say $100 (I did 4 or these and my average cost was less than $100). Loss is $900. Granted you had nicer Weeks to use. I lost less money. To each his own, I guess.

George

 

[LannyPC]

So you used a dying friend to get out of your TS obligation? Wow that is a new one on me.

Actually, a couple of years back, someone came on these boards because he had an aunt with terminal cancer. He asked if he could give it away to his aunt so that his timeshare obligation would "die" with her.

TUGGERS responded that the aunt's estate would still be responsible for the timeshare. (I didn't bother using the search function)

 

[LannyPC]

So we sold it to him (for $1) and then sent him and 3 of his buddies on a golf outing for a week (we paid the airfare and some of the greens fees for for the foursome). They called it "The Final Round" and had a great time. All in all, we shelled out maybe $1,000.

You were able to buy 4 airfares and 4 rounds of golf for only $1000?!?!

 

[MOXJO7282]

OK, let me get this right. Buy a Marriott Week for say $12,000 (No. I don't know what you paid. This is just an example.) and sell if for $1,000. Loss is $11,000. Alternatively buy a Week at an HOA managed Independent for say $1,000 and do a Deed Back at a cost of say $100 (I did 4 or these and my average cost was less than $100). Loss is $900. Granted you had nicer Weeks to use. I lost less money. To each his own, I guess.

George

I didn't have to deed back anything because my Marriotts still rent like gangbusters for 11 years running. You obviously had to get rid of yours because they became of no value to anyone and you were lucky you could deed them back.

 

[Cheryl20772]

It may have been possible to give the TS away on TUG with the additional $1K incentive added.

 

[bshmerlie]

You people kill me...

There's no moral issue here unless it was done with deceit. If all parties discussed this up front what is the problem? Get off your high horses. You guys feel just fine giving it away to some unsuspecting fool on Tug. Talk about morally wrong. I dont see anyone saying what crap it is when they list it in the bargin basement section.

 

[tschwa2]

The deceit comes in that you are giving it to someone you know will not be able to accept the ongoing MF's fees. But I was thinking that morally I would feel worse about selling it or giving it away to someone who doesn't understand the burden of a crap week or to giving it to a company that is going to sink it in so much red tape the HOA is never going to be able to get a clean deed back without paying more $$$. I know I didn't understand the burden 12+ years ago when I accepted a blue week.

Yes, you are sticking it to owners when you stick it to the HOA but you are doing it within the rules of the HOA. The fact that one may need to go to such drastic means just shows how bad some resorts need a better exit strategy. If the board can't find a (creative) way to help off season week owners get at least their MF's worth of value from ownership , then they are in trouble. Sticking their fingers in their ears saying "la, la, la- we can't hear you or we hear you but there is nothing we can do" is going to lead to trouble. And that is where we are at and that is where we are still going.

And this includes the big names too because bronze and silver owners are bailing too and the MF's for everyone will go up and if it keeps sliding up more and more off season and shoulder season owners will bail and the rental income for summer weeks may not be able to keep up the increase in MF's. You already see a bunch of off season weeks on ebay presumably acquired from PCC's who convinced off season owners at the weeks to pay thousands to relieve themselves of the burden. Not all of them are selling even for $1 plus free closing plus free 2012 week. I wonder what they do with the ones that don't sell?