Call 603-883-8626 or 1-800-640-6886 for assistance. Your timeshare’s value is determined by the average asking price of similar timeshares being advertised for sale and rent on BuyaTimeshare.com at your particular resort. Values can vary by resort location, resort brand, season, unit size and more.
No , the timeshare has no value , because you don’t own anything in the normal sense of the word. It’s not like your regular home, which likely has some equity built up. In fact, a timeshare goes down in value from the moment you sign the contract. There are much better ways to invest your hard-earned money.
But the costs can give you sticker shock: Typical costs to get out through one of the large specialist agencies can range from $4,000 to $12,000. Timeshare Exit Team, which doesn’t sell timeshares but aims to dissolve your legal contract, is reported to cost thousands itself and can take years.
SellMyTimeshareNOW.com is an active timeshare resale marketplace and the best place to sell a timeshare . More than $2.8 Billion in Timeshare Sales and Rental Offers – Delivered to timeshare owners just like you. No Hidden Fees – We’ll clearly explain all your options and answer any questions.
If you can ‘t sell your timeshare on the open market, one option is to offer it back to the resort . As long as the unit is paid off and you are an owner in good standing, there’s a chance that the resort will take the unit back from you .
Owners can reach the resale department by phone, as well, at 866-682-4547. Use our “What’s My Timeshare Worth ?” valuation tool to see past sales (excluding floating weeks) for your timeshare , median prices , and current competition.
If you stop paying it, the timeshare company will do whatever it takes to collect. They’ll make phone calls and send letters, then they’ll assign it over to (you guessed it) a collections company. If you still don’t pay , the situation sinks even further into foreclosure and possible legal action against you.
Throwing money at a timeshare is not an investment and will not generate money for you. An investment implies that you can eventually sell it and make money . With timeshares , you’re just pre-paying your hotel bill for the next 20 years whether or not you use it.
Resale timeshares often sell for only 50% of the original price – some for as little as 20-30%. You can still sell your ownership easily , but you have to price your property competitively. If you are unsure what your timeshare is worth, we offer a timeshare resale value survey.
If you are either left a timeshare in a will or are the legal heir of someone who owned a timeshare and died without a will, you may choose to refuse to accept your inheritance . In legal terms, this is generally called “renunciation of property.”
You can ‘t just walk away from a timeshare . That’s because they often come with an obligation to pay maintenance fees for as long as you own them. It says 85 percent of timeshare owners who go to contract regret their purchase. (Gamel says the research isn’t relevant because it is not specifically about timeshares .)
A timeshare foreclosure will likely cause your credit score to drop, which can affect your ability to get credit in the future. Timeshares can be a burden. A timeshare foreclosure, like a residential foreclosure, will usually cause a major hit to your credit score.
Yes, you can get a deduction from the property taxes you pay on your timeshare . The taxes assessed must be separate from any maintenance fees (the two are sometimes lumped together in timeshare bills). You may need to request an itemized statement from your timeshare management to prove you paid property taxes .
So, Why Do People Buy Timeshares ? A timeshare is less expensive than a lifetime of vacations. Owners are guaranteed outstanding vacation time every year. Exciting travel opportunities also come with timeshare ownership.
Some timeshare companies or owners may allow for a termination after a certain period of time elapses. Preferably, you should seek a lawyer with experience in timeshare law and a great reputation. A timeshare lawyer can help draft timeshare cancellation letters. They can also litigate a breach of contract situation.