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Getting Rid Of Timeshare |
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Five years ago I bought from a friend a fixed-week timeshare in a beautiful location. We used it for three years and now have two years banked since we haven't been able to go. We are senior citizens with health problems and would like to sell the week. I fell for a broker listing it for a $500 appraisal fee, which probably was a scam because nothing happened in one year. Am I stuck forever with yearly maintenance fee? I paid $1,000 which was a bargain for the lovely place. I would be glad to just give it back to the Resort Organization, but they are no help. I'm disgusted and would never recommend a time-share, not even a small one like mine. Can you suggest anything? |
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I expect many people have good experiences with timeshares, but they don’t write in. The stories I hear all sound like yours: “Things change…we can’t get down there…the kids don’t want it.” The first step is to avoid those useless companies that take an upfront fee, but it’s too late for that. Next is to ask if the developer will take the timeshare back, and you've already tried that. So, at the height of the tourist season down there, put a classified ad in the local paper offering to sell your thousand-dollar timeshare for $50. Contact real estate brokers down there, offering 90 percent commission if they can find a buyer. And if all that fails, talk with your lawyer about what would happen if you simply stopped paying the annual charges. Sometimes there isn't any consequence that you'd have to worry about. |
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Edith
Originally published on December 12, 2005 |
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