Want to get rid of a timeshare!

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Want to get rid of a timeshare!

Stephen Castles
Member since 2020 · 10 posts · 2 votes

Anyone have a good source to sell/trade or assign a timeshare in the Poconos? We inherited one and don't plan on using the 2 weeks at all. The company is tough to deal with as we offered it back to the management company but, they are more concerned with keeping the yearly maintenance fee of $850 than anything else. We don't even want a dime for it, just someone willing to take it over and use it for their vacations, etc. If anyone has some experience with this type of thing, please reach out to me. Thank you!

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Matt M.
Specialist · Easton, PA · Member since 2018 · 1k+ posts · 2k+ votes
4y

@Stephen Castles

Good luck with that. I’m 30 mins from the Poconos and wouldn’t take it for free.

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  • Lauren Kormylo
    Rental Property Investor · Phoenix, AZ and Rehoboth Beach DE · Member since 2019 · 1k+ posts · 1k+ votes
    4y
    Places to sell timeshares:
    Redweek https://www.redweek.com/sell-m...
    Timeshare Users Group https://tug2.net/
    Ebay

    1Reply
  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    4y

    There is some attorney that advertises on TV all the time. He gets them canceled. 

    1Reply
  • Bill B.
    Investor · Las Vegas, NV · Member since 2013 · 8k+ posts · 10k+ votes
    4y

    If it was recently you can and should “disclaim the inheritance or gift” and then it would die with the estate. I’ve often thought if I was stuck with one I would give it to a very sick/elderly relative put it in their name and pay it only until their passing. I have never heard a good story of getting rid of them. I know people try to sell them for $1 on eBay. 

    2Reply
  • Matt M.
    Specialist · Easton, PA · Member since 2018 · 1k+ posts · 2k+ votes
    4y

    @Stephen Castles

    Good luck with that. I’m 30 mins from the Poconos and wouldn’t take it for free.

    3Reply
  • Adam Arkfeld
    Member since 2021 · 5 posts · 3 votes
    4y

    Hey @Stephen Castles, I run a marketing company for my day job and we generate thousands of leads in the timeshare cancellation space. I know more about the industry than I ever thought I would!

    The big question is if your timeshare has a mortgage. If it does, it's incredibly hard to get out from under it and your credit could be severely affected if you stop paying the fees.

    If you don't have a mortgage, I've heard many reports of people just walking away and not having any issues besides tons of letters and calls from the timeshare company. I don't necessarily support this, but I've heard it works in some instances. Some timeshares have deed back programs while others are more strict.

    If you want to go through a cancellation company, they'll likely charge a few thousand dollars to get you out and it'll take 6 months to a year. You can go through someone reputable like Timeshare Legal or Wesley Financial. They're the big guys, but they also probably have the most to lose if they scam you because they've been around for a while. I'd avoid a small cancellation company as they can be dishonest or outright scams.

    Hope that helps. 

    2Reply
  • Collin HaysBusiness Member
    Property Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes
    4y

    The timeshare concept never ceases to amaze me.  People are paying big bucks to buy them, and big bucks to get out of them.  Rinse, lather, and repeat.  New buyers born every day.

    [email protected]806-672-7102
    SMOKY MOUNTAIN FALLS INC.51 Review
    WebsiteView Page
    1Reply
  • Nancy Bachety
    Rental Property Investor · North Fork, NY · Member since 2016 · 1k+ posts · 631 votes
    4y

    You got some terrific ideas and leads here. I sold one years ago on eBay. I bet you'd have pretty good success on Redweek of at least unloading it. They rent and sell timeshares. People make a living off of renting out other people's timeshares. Timeshare arbitrage.

    Come back here and tell us how it ends.

    2Reply
  • Stephen Castles
    OP
    Member since 2020 · 10 posts · 2 votes
    4y

    Thanks all for the help, I'll let everyone know how it goes!

    0Reply
  • Shane Miller
    Investor · West Lafayette, IN · Member since 2021 · 10 posts · 2 votes
    4y

    @Stephen Castles

    We had one and used TimeShareExitTeam to get us out of ours 6 or 7 years ago. We had to pay a fee, but it was totally worth it!

    Good luck!

    1Reply
  • Alex S.
    Investor · Metro East of St. Louis (Illinois) · Member since 2016 · 259 posts · 211 votes
    4y

    Here is a crazy idea for Brian Chesky:  AirBnB Subscription Service (aka "Millennial Timeshare")

    You pay $36,000/yr to AirBnB (low down payment & easy financing) and that gives you the right to 9 months of AirBnB stays at locations of your choice.  If you want to get out of it, you must pay a lawyer thousands of bucks or post on BP forums begging people to take it off your hands.

    Bullet-proof plan, amirite?

    0Reply
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