Hi everyone,
Me and my husband own a Time Share. It is paid off. We have quite a bit of debt that we are trying to pay down so we are doing things like selling on E-bay, cutting expenses ect. While listening doing some housework and having the radio in the background one day I caught part of a commercial about how this company can sell your time share for you share for top dollar. I did not get any of the details on this particular company or there phone # to call and get more info. I don't even remember what specific station I was listening to at the time.
My question is have any of the mommies out there ever done this? What if any reputable companies are there out there that I can maybe call and get more info. We enjoy the Time Share but would be willing to sell it if could help us to pay our debt down faster. We could always buy another one at a future time.
Thank You all.
Time shares are extremely hard to sell since they lose value so quickly. There are many companies that will help you sell, but they'll cost money- either upfront, or they take a portion of the sale. Why not figure out what your time share is worth and then list it on Craigslist to see if there's any interest? You can also list on eBay or one of the specific time share selling sites.
Hi, We did "sell" our timeshare, but it was really more of a buyout, as we had to pay to get rid of it. Bad news I know. We owned 3 timeshares since the 80's. I think we paid maybe $5000 for the first one and the other 2 were pretty cheap, because of the '80's recession. So they were all paid off. Anyway, we have really used them over the years, vacationing with our family,etc., but the maintenance fees kept going up (as you know), and we were tired of even paying $500/ year for each one, when we could rent a timeshare for that same amount. We went on a trip using a week traded, and went and talked to the people who sell timeshares about buying ours back. Some places are actually taking them back so they can rent them outright, instead of going through RCI. Unfortunately we had to pay some fees to get them to do that. We did not owe any money on ours, but we paid like $1000 for each one just for them to take it. That included joining their 'travel club' which offers timeshare rentals at a discount to people who don't own. Haven't used that yet so don't know if that's a good idea or not, but it's $100 year and if we decide it's not worth it we won't pay it for the next year. Anyway, their was a lawyer involved, which is what much of the money went to, and the deed was transferred. You have to make sure they take your name off the deed, so you will not be held liable for any future fees from the timeshare. I would call the timeshare where you bought yours and talk to them about the possibility of taking it back.
First, contact the time share company. They usually have pretty good places to start. In this economy, everyone is trying to get rid of their time share... so good luck. My husband used to manage collections for timeshares (I personally think they're the devil!), but if people wanted to sell theirs, he had a list of places he could recommend. Again, GOOD LUCK!!
Just wanted to weigh in on the travel club comment. My sister and I bought what we thought was a timeshare, but actually turned out to be a travel club (discounts on condos). She used it a couple of times, but when I went to use it, I found out that I could equivalent or better deals without the club so we have let it lapse. I wouldn't buy in to a travel club.
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Sorry, but time share are a rip off and have always been a rip off. The only one that profits from a time share are the ones that sell it and the ones that collect the "maintenance fee".
There are some legitmate companies that re-sell time shares. I have a friend who's brother is in the business of reselling time shares. Based on what she said I can buy a time share in good times for about 25 cents on the dollar. And the current economy is not good times. Then I would have to pay for the maintenance fee.
If you really want to save money, work on your food budget and non-bill spending, like that soda at Burger King or at the vending machine. Start a garden. To find out where the holes are in your budget, keep a notebook listing everything you spend money on. Buy a cup of coffee. Write it down. Buy a candy bar. Write it down. By the end of the month you will be amazed on how much money is spent on items a dollar at a time.
Good luck to you and yours.
What Everley said. Here is a good article on selling your timeshare: http://tugbbs.com/forums/showthread.php?t=44
That forum, the Timeshare Users Group (TUG), also has classifieds where you can try to resell your timeshare. http://tug2.com/timesharemarketplace/ That might be a better bet than Craigslist, just because there are so many flakes on CL.
In the end, when we wanted to get rid of our timeshare and stop payng the maintenance fees, the only thing we could do was donate it to charity and take the tax deduction.
Good luck.
