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Getting Out of a Time Share #13951606 07/05/19
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simonkenton7 Offline OP
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I hear ads for companies all the time that will get you out of the time share. They don't say what the cost is.

I heard a talk show lawyer the other day saying that it can be done and it is expensive as can be. He said it will cost $20,000.
He also said there are a lot of scammers out there, you pay them $500 up front, and never hear from them again.

I have some real estate but I don't have a time share. This is an interesting subject to me.
Has anybody ever gotten out of a time share?

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Re: Getting Out of a Time Share [Re: simonkenton7] #13951900 07/05/19
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nyrifleman Online Content
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Why anyone would opt into a time share is the better question.


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Re: Getting Out of a Time Share [Re: nyrifleman] #13951949 07/05/19
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Hastings Online Content
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Originally Posted by nyrifleman
Why anyone would opt into a time share is the better question.
The country is full of them and I bet 90% want out.


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Re: Getting Out of a Time Share [Re: simonkenton7] #13952176 07/05/19
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JeffA Offline
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Airbnb and vrbo took the timeshare idea and made it 1000 times better.

Most people really don't own any part of the property they pay timeshare dues on, they have a "exclusive right to use" agreement and a resort or other real estate investment company holds the actual title to the property.
Most don't read the fine print or even realize this, they think because they paid in full at the time of purchase they actually own something. They "may" own the right to transfer if they can find another sucker like themselves.

If you're stuck with one, it's best to look at the dues you paid as rent, then just walk away if you are done with it. It was never an investment to start with.


~Jeff~
Re: Getting Out of a Time Share [Re: nyrifleman] #13952252 07/05/19
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dale06 Online Content
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Originally Posted by nyrifleman
Why anyone would opt into a time share is the better question.


I know two people that have them. No, not me.
They are a terrible purchase.


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Re: Getting Out of a Time Share [Re: simonkenton7] #13952255 07/05/19
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ironbender Online Happy
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Stop paying the annual maintenance fee. You won’t own it for long.


If you take the time it takes, it takes less time.
--Pat Parelli

American by birth; Alaskan by choice.
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Re: Getting Out of a Time Share [Re: simonkenton7] #13952261 07/05/19
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slumlord Online Content
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I had a "week 52" in Pompano Beach at the Fairways of Palm Aire

Red time baby


I'm not a golfer, and I had some golf dorks send me a letter wanting to buy it.

Probably one in a thousand happen like that, but I dumped it.

The value of that week was worth 3-4 whole weeks in off time at other places I preferred to go. A lot of 'trade bank' value on the RCI program.

I got rid of mine as everything started rolling towards the 'points' system.


Omicron Delta Kappa 2006


Re: Getting Out of a Time Share [Re: simonkenton7] #13952816 07/06/19
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Hastings Online Content
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Check out Westgate Timeshare reviews and complaints and also check out David and Jackie Siegel's home and life style all financed on the backs of people they've cowed into keeping up huge payments on something they wish they had never seen. If you don't keep up your contract you could easily be facing property seizure and wage garnishment. Someone once said it best when they said you are holding dynamite when you are holding a pen.


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Re: Getting Out of a Time Share [Re: simonkenton7] #13952826 07/06/19
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cruzerbotz Offline
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Had one because of the points and exchange. Turned out there was nowhere on the exchange we wanted to go. Ran into financial difficulty and quit paying the fees. Ended up signing it back over. Others in the family have, and have had, a couple in Florida. We all would go down there every couple of years. But could have rented there just as easily. Those were bought as foreclosures, so they got a "deal". But overall they aren't worth it.

Re: Getting Out of a Time Share [Re: simonkenton7] #13952856 07/06/19
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WeimsnKs Online Happy
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As long as they are paid for and the maintenance fees are up to date, giving them back is easy. We had one in Nashville but when we left Indiana, we didn’t use it. The timeshare people won’t advertise the give back program but if you dig deep enough in their websites, you will find it.

Our experience was smooth, quick , uneventful without a fee.

Bravo

Re: Getting Out of a Time Share [Re: ironbender] #13952861 07/06/19
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Originally Posted by ironbender
Stop paying the annual maintenance fee. You won’t own it for long.


And you know this how ?

Re: Getting Out of a Time Share [Re: dale06] #13952877 07/06/19
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Originally Posted by dale06
Originally Posted by nyrifleman
Why anyone would opt into a time share is the better question.


They are a terrible purchase.


30-40 yrs ago not a terrible way to get a location of your choice guaranteed each year but times and technologies have changed making them a bad deal for consumers. Just like everyother business they started to nickel and dime you. A fee for this, a fee for that. Points exchanges, cleaning fees ...

As mentioned, with vrbo and the like, lodging is very affordable nowadays and the timeshare concept is no longer a good model.

My wife and three friends just used ours in Vegas. For 3 nights it cost them $110 ea for a very nice two bedroom one block Behind Harrahs. That wasn’t a bad deal at all.


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