Marquis Villas Resort

What is the best way to sale or get rid of a timeshare?

My husband and I got suckered into a timeshare when we first got married; however, we recently had twins and it is hard to make payments on this and other bills. Is there a way to get out of the timeshare? Is there a loop hole? Has anyone had any success at sales?

Public Comments

1. I've seen timeshares on sale on Ebay. They sell them for $1 if you take over the payments. Also, theres a company called timeshares only.com they charge a fee, but sometimes cant sell it - no guaranttes google the name of any company followed by the word complaint or rip-off. Some people think these companies will sell their timeshare. All they can do is try. /
2. I see ads for agencies that specialized in resales - can't imagine that is great right now. There are some charities that will accept them as gifts - sounds like you would be grateful to be rid of it, so that might be your best bet. Here is one site: http://www.donatetimeshareonline.com/ You can find others by entering "charities accepting timeshares" in your search line.
3. if you cant sell it give it away to a person you dont like perfect gift for them
4. Depending on what your circumstances are and depending on the company, you may be able to cancel your ownership due to hardship. I know that during these times in the economy, timeshare companies are going to have to deal with this issue. Check out Timeshare Advocacy International.
5. You can sell it the day after you bought it if you want to, the catch is that the mortgage is still owed in its' entirety and you will have to pay it off as soon as you sell the timeshare. If the amount you owe is greater that the amount you are able to sell your timeshare for you will need to come up with the difference to clear the title for the next owner. Good luck on the sale, it is almost impossible to come up with a sale that covers your original purchase price if you bought from a developer. Timeshares can be sold but the resale value is terrible, if yours is a good one (location, season, size of unit, etc.) then it is easier but it will never sell for half of what you paid for. The average prize that I have seen them been sold is for no more than $2000, and this is for completely paid off timeshares. There are so many options out there and you are right several owners would just give them away, that it will be almost impossible for you to find someone to take over your payments or give you a good amount for it. You might want to talk to your accountant about defaulting on the payments. These are some options: - Resale is most likely not an option unless you sell it to a friend or relative. - BE VERY CAREFUL if someone offers to sale it for you and ask for money upfront, they are just a bunch of scammers. - It is ok to pay a few dollars (no more that $30) to post an ad in some really good site. There are some FREE sites that you can advertise, and my advise is that you just give it away and let someone take over your payments, you can try these: http://timeshareownerscommunity.com/ http://craigslist.com http://ebay.com http://recycler.com/ http://usfreeads.com/ http://www.inetgiant.com/ - The last is the more painful, talk to your accountant about just defaulting on the loan. Good Luck!