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how to deed back timeshare ???

Leighandpat

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Deed back timeshare ????
My timeshares (Grand Seas, Daytona Beach)property has been closed since being damaged by Hurricane Erma.I have talked to the owner (Explorta) about them taking them back since I can't use them .
I have 2 units and they want me to pay $4000 for this....Any body have any advice ??????
 

DeniseM

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The management company has to be willing to accept a deedback, so you have to start by getting them to agree to it.

If they won't take it back, then you have the option to stop making the payments and walk away from it - they may or may not come after you.
 

brianfox

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I think we're all first assuming you don't owe any money on these units.

$4000 may be a worthwhile opportunity to get rid of these. I don't know their value, but I'm assuming it was near $0 even before the Irma damage.
If you choose to keep them, you will be on the hook for Maintenance Fees and possibly Special Assessment for years until it's habitable again. That alone may exceed $4000.
If you stop paying and walk away, they could come after you and damage your credit.
Every other owner is in the same boat as you; if even a small number of them stop paying, they will probably roll out a big Special Assessment to make the remainder take up the slack.
In the scheme of things, $4000 may be a bargain.
Just make sure it's not the tip of the iceberg, where you also have to pay escrow, transfer fees, etc.
Very sorry that you have to go through this.

Coming here first was wise - The WORST thing you can do now is hook up with any company that promises to get you out of your contract. Absolutely stay away from them; if any call you - hang up. Every single one will take your money and do nothing. Deal with Exploria directly, and only with them.
 

TUGBrian

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TUGBrian

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technically since you have 2 units, its only $2000 a unit..which while still ridiculous (IMO) is only half as ridiculous as $4000!

id make a point to try to negotiate the price, after all you are in the position of power here in most cases, since it is in their best interest to have an owner willingly and knowingly deed the ownership back to them, vs going thru an expensive and lengthy foreclosure process if you are unable to continue to pay etc.

those fees are not locked in stone, its merely their attempt to grab money from owners who want out (and perhaps to cover a year or two worth of future maint fees so they have time to rent/sell/etc that interval to another owner if possible).

every situation is different, and every owners circumstances are different. make your situation known to the resort and explain that you want out, but simply cant afford that amount to "no longer be an owner" and see where it goes from there.
 

bogey21

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Deed back timeshare ????....I have 2 units and they want me to pay $4000 for this....Any body have any advice ??????

I had a similar situation with a damaged ski Week in Colorado. The HOA accepted a Deed Back. It was only 1 Week. My cost (all in, no fees) was $1,000. You might check and see if the $4,000 is negotiable.

George
 

Leighandpat

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I had a similar situation with a damaged ski Week in Colorado. The HOA accepted a Deed Back. It was only 1 Week. My cost (all in, no fees) was $1,000. You might check and see if the $4,000 is negotiable.

George
Thanls
 

Leighandpat

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I think we're all first assuming you don't owe any money on these units.

$4000 may be a worthwhile opportunity to get rid of these. I don't know their value, but I'm assuming it was near $0 even before the Irma damage.
If you choose to keep them, you will be on the hook for Maintenance Fees and possibly Special Assessment for years until it's habitable again. That alone may exceed $4000.
If you stop paying and walk away, they could come after you and damage your credit.
Every other owner is in the same boat as you; if even a small number of them stop paying, they will probably roll out a big Special Assessment to make the remainder take up the slack.
In the scheme of things, $4000 may be a bargain.
Just make sure it's not the tip of the iceberg, where you also have to pay escrow, transfer fees, etc.
Very sorry that you have to go through this.

Coming here first was wise - The WORST thing you can do now is hook up with any company that promises to get you out of your contract. Absolutely stay away from them; if any call you - hang up. Every single one will take your money and do nothing. Deal with Exploria directly, and only with them.
This was paid for a long time ago
 

Passepartout

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Bite the bullet. Pay the fee and be done with a clear conscience. Kind of a PITA, but probably the best way out. It sure beats paying some outfit a similar amount and finding out years later that they just pocketed the money and did nothing.
 

corypollock

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Deed back timeshare ????
My timeshares (Grand Seas, Daytona Beach)property has been closed since being damaged by Hurricane Erma.I have talked to the owner (Explorta) about them taking them back since I can't use them .
I have 2 units and they want me to pay $4000 for this....Any body have any advice ??????


just an FYI if you are still trying to get this done... now that the resort is mostly redone and back open, i think the tune is changed. i wrote them an email at exploriaevolution@exploriaresorts.com and they just took mine back for a "transfer fee" of $350.
 
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