Florida timeshare

Geo-TH,In · Jan 20, 2010

Has anyone had experience selling a Timeshare near disney world in Florida?

Anonymous-0 · Jan 20, 2010

Them cold scrambled eggs and half price sea world tickets got ya huh????

Sorry, no experience...... Plenty of experience with the free breakfast and cheap tickets though.

Dave

Spook · Jan 20, 2010

I know of people that have tried selling for years, no luck. Ended up simply walking away from it. They have very little value.

Kentb of SWMO · Jan 20, 2010

When you buy a time share you are buying most like "Blue Sky" Costly when you buy it. WORTHLESS when you try to sell it.

Kent

cj in wisconsin · Jan 20, 2010

I have one 4 miles from Disney , Orange Lake Country Club, almost impossible to sell, basically worthless, but the maintenance has gone up so much I can't afford it anymore. We have had it for 22 years and can't sell it for what we paid 22 years ago. But the last three times I was there they sure pushed me to upgrade. They can kiss my you know what! Oh well we had a lot of fun there over the years. My advice to anyone that is thinking about one is to stay away! Unless you are looking to buy my unit of course!

Christopher S. · Jan 20, 2010

My father in-laws third wife convinced him to get two time shares. She has since decided she wants a divorce and he can have the time shares. Needless to say he is unable to find a buyer and the maintenance fee's are quite high. Oh well serves him right.

Lou from Wi. · Jan 20, 2010

HEY DAVE,FRUGAL HUH? WAY TO GO!!!! lol LOU

Geo-TH,In · Jan 20, 2010

By the way, to add insult to injury, the next insult in the Florida timeshare con, is to charge you upwards of $750 up front, for them to list your property, no guarantee they will sell it. Good advice, stay away from timeshares. That said, is there any way to give your timeshare to a charity and get some tax break? Perhaps give to IRS in place paying taxes!

Mike (WA) · Jan 20, 2010

Bad news on all fronts. Charities are too smart to take a timeshare- they wouldn't have any better luck converting it to cash than you have. And you can't just "walk away", because the yearly maintenance fee is a contractual obligation, and if you don't pay, many will sue you for the money!

Saddest case I've seen is a little old lady who bought one at a silent auction fundraiser at her church. It was in Atlantic City, an older hotel, no one even wanted to stay there anymore, much less buy a timeshare. She said the funny part was, she didn't even want it- just bought it to help out the church, thought she might give it to a grandkid (no one wanted it). If she was 10 days late paying annual fee, she got letter threatening lawsuit.

I looked at her financial situation, and she was "judgment-proof"- that is, no assets they could execute against, so their judgment would be worthless. I wrote to them, told them her situation, and if they wanted to sue, bring it on.

As far as I know, she never heard from them again.

GordoSD · Jan 20, 2010

If it's a community property state, which almost all are, the wife should be "granted" one for sure.

GW

Anonymous-0 · Jan 20, 2010

(quoted from post at 08:17:35 01/20/10) HEY DAVE,FRUGAL HUH? WAY TO GO!!!! lol LOU

closest thing I've been to playing golf was riding a golf cart around checking them things out...........

LeoinMI · Jan 20, 2010

I bought a timeshare about seven years ago. Everybody here is right,they are not worth much and are hard to sell. I was lucky,..I bought one in South Africa, two bedroom gold crown resort for $1,700.00 which included six years of RCI membership. All we do is trade out our week for someplace else. I"ll never go to South Africa,..but we have been to alot of other places in the U.S. that we very nice. My maintenance fees are paid in Rans, which is the Afrcian exchange for the dollar, (usually about $400.00 +- per year.)It depends on what the exchange rate is the day you pay it. I,ve more than gotten my $1,700.00 worth of vacations out of it,..so I could just walk away if I didn"t want it anymore or try to sell it. We vacation every year, so we will probably keep it for now. Hard to beat a nice condo for around $500.00 per week with a full kitchen,two bedrooms ect..compared to a hotel for a week. All in all,they are nice but again, hard to sell and expensive to buy.

The JD Workmen · Jan 20, 2010

Your Father in Law must have a high class family.
pinkies up

cadet trooper · Jan 20, 2010

We have a timeshare on Daytona Beach which we inherited 10 years ago it makes nice trading stock because we've stayed at a lot of five star condos for 100 bucks a week through RCI and planning an Ha. trip soon. Resale is trash.Disney was building tons of those TS condo at Downtown Disney a few years ago and we wondered how that was going to work. IMHO

Christopher S. · Jan 20, 2010

Oh Jon you are so young, just wait and see what your little hunnies family turns out to be like

Geo-TH,In · Jan 21, 2010

How can you just walk away? The contract says that you own it forever, your kids own it forever until 2035. Their lawyers say they will come after you, get a default judgement and get their maintanaince fee each year. In 1998 the fee was $348, this year $659. Timerelief will take your property, but you have to pay them upwards of $3500. Yes you have to pay again to get your name off the deed. In 1998 it cost $8500 to buy the time share and today it is less than worthless!! PLEASE CAN ANYONE HELP?? You can't give it away. If I knew a homeless person or a person who was going to file CH 11, I might pay them to take it, but I don't know anyone like that. HELP!!!

JML755 · Jan 21, 2010

That's a darn good idea about the homeless people. There is a business opportunity there. Someone could set up a company to take the time share off your hands. Say for $500. I'll bet you could get 50 in the same area of Florida. That'd be $25000. They would then "sell" the package to a homeless person for $1. Load up a vam with the homeless person and a few of his buddies and take them to Florida. Probably cost a couple grand to transport them down there. Give a local grocer $100 a week so they can get food. Cost so far =$5000+transp+$1. Then the homeless would just have to move from timeshare to timeshare in a nice warm state with basic food needs being met. And you'll pocket close to $20 grand. It's a win-win situation: TS owners get rid of their liability for a few bucks. Homeless off the streets in a cold climate and guaranteed a warm place to live with food for a year. Only losers are the guys who sold the TSs in the first place. ok, maybe the guy who goes down to use his TS and sees a homeless guy next door. But you could fix that by giving them each a few pair of bermuda shorts, razor and a bar of soap. I bet they could blend in real well.

Geo-TH,In · Jan 21, 2010

I hope that everyone who reads this article will copy it and start an email chain warning people of the Timeshare scam. You pay for a timeshare that is worthless, you pay maintanance fees that go up every year and you can't sell them, instead you pay someone to list your property, they take your $500 and put your name on a list and nothing happens except you pay another year's maintanance fee. Or you pay upwards of $3500 for someone to buy your timeshare after all maintanance fees are paid. It is not an investment, you pay, you pay and you pay again! This should be a crime, but is not. Buyer beware!! PLEASE PASS THIS ON TO EVERYONE YOU KNOW.

LeoinMI · Jan 21, 2010

The only reason that I can walk away from my condo is that my timeshare is in South Africa. If I don"t pay the maintenance fees,..they void the contract and repossess the property and can in turn re-sell it. Being out of country they figure it is cheaper to repossess than to try and take legal action. As far as RCI is concerned, you can let your membership run out and not re-new with them.

Geo-TH,In · Jan 22, 2010

(quoted from post at 04:31:19 01/22/10) The only reason that I can walk away from my condo is that my timeshare is in South Africa. If I don"t pay the maintenance fees,..they void the contract and repossess the property and can in turn re-sell it. Being out of country they figure it is cheaper to repossess than to try and take legal action. As far as RCI is concerned, you can let your membership run out and not re-new with them.

What is RCI? If we don't pay they will sue for their money. Love to find a legal way to walk, but the contract says even your children will have to pay.

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