 |
Timeshare Problem |
| |
 |
Hi Edith, I invested $5,000 each in two resort timeshare units some years back. Maintenance cost has gradually increased. This year it is $539 per unit. I have invested over a thousand dollars with several companies over the past years to try to sell the units, to no avail. When I was younger I got good use from the units by family members or renting. Now I have to try to rent on my own which I'm not so good at. The nieces/nephews don't want to go every year. I'm nearing retirement and I must get this off my shoulders. Do I forfeit? If so, how? or is there another alternative? |
| |
| |
 |
Ask the developer or the management company if they'll take the timeshares back. Advertise in newspapers down there, perhaps a classified ad that says "cost $5,000, will sell for $500." And as a last resort (no pun intended) consult your own lawyer about what would happen if you simply stopped paying the management fees, property taxes, or whatever is required with your particular setup. Often there are not really any consequence. |
| |
|
Edith
Originally published on February 6, 2006 |
| |
| |
|
Back to Summary
|
< Previous | Next > |
| |
|
|
