There are a lot of scam artists who ask for an up-front fee to cover their "marketing costs". There is no guarantee that they will ever sell your timeshare. And, if they’re being paid up-front, they have no incentive. Any ideas?

I bet they didn’t tell you that a timeshare is like buying a car. It depreciates the minute the ink dries. For that reason the government doesn’t allow timeshare companies to offer timeshares as investments.

I don’t have any suggestions other than those programs I have seen advertised on tv. Have you tried selling it back to the company? Also you could advertise on www.craigslist.org I sold a rental house I owned sight unseen within 3 hours. Maybe you will get lucky.

I bought the timeshare with my friend in Cancun with Club Regina 6 years ago. Both of us are tired of paying the maintenance fee. Does anyone know how to give up? The timeshare is paid in full.

there are places that buy and sell timeshares
do a search and contact some

We bought a time share 2 years ago, and have only used it once. We would like to sell it for $14900. What is the quickest way to sell? Who would you recommend listing it with? Does anybody want to buy it? The timeshare is through Silverleaf Resorts.

There is a good site www.timesharesonly.com

I might be interested, but I’ve heard good and bad… What are the pros/cons of owning a timeshare?

Advantages: Timeshares on an annual basis can save you money on vacations and the amenities the resorts offer BLOW away a standard hotel or motel. You can find inexpensive resorts for sale on the resale market and the annual maintenance fees most likely will run you about $500 to $700 a year (depending on what location and size of unit you choose). You don’t have to stay at the same location on an annual basis all timeshares affiliate with an exchange company, which enables you to stay at resorts across the country and world.

Disadvantages: You will be responsible for paying the maintenance and taxes every year whether you use the unit or not. There will be restrictions on exchanging depending on the rating of your home resort (that’s where research comes in). Selling the timeshare can also be a challenging task, but if you buy resale your losses will be minimal if at all.

If you are planning on buying a timeshare I suggest doing lots of research and lots of financial planning.

I’m looking to sell my timeshare in Vegas. Does anyone know any good companies that don’t take money up front to sell? Has anyone had a positive experience with any companies at all?

If there is a mail box or a community bulletin board at your home resort, you can put a “For sale” sign. This will pressure the developer specially if they sell it for $20,000 USD and you offer it for $5,000. Sometimes on the fine print of some sale agreements says that the developer has the first right to buy if your place is ever sold. I have heard of developers paying the money (as long as is not too much) just to take the sign out.

To resale or rent a timeshare is a hard task, the basic rule is not to pay money up-front, don’t be another victim of a scam.

Unfortunately over 50% of people that really need to sell their timeshare falls for this resale scams where they charge money upfront and less than 10% of them use their only real option which is to post it or offer it trough free advertising options as much, and as many sites as they can (it is ok to pay a few dollars to post in a great place but no more that $20 to $30).

Timeshares do not have resale value and in most situations you would take a loss in what you paid for, as they resale for less than $2000 USD.

There are some free classified ads where you can start posting:

http://timeshareownerscommunity.com/

http://craigslist.com

http://ebay.com

http://recycler.com/

http://usfreeads.com/

http://www.inetgiant.com/

I have a timeshare that a can no longer afford to pay for. The financial services department of the resort says it will count as a foreclosure and is very bad for my credit. Is this just what they say to get you to pay? What’s the worst that can happen?

2 things will happen.

1. The foreclosure will be visible on your credit history. Lenders will take it into consideration that you didn’t pay a debt before loaning you additional money. You will either not get the new loan or will pay a much higher interest rate.

2. The timeshare lender will report the foreclosure to the IRS. They will show the amount of money that was still owed at the time of the foreclosure as well as the value of the property at the time it was sold.

Let’s say you paid $10,000 for the timeshare, had a remaining balance of $8000 and the timeshare is now wroth $4000. For tax purposes you have a $4000 non-deductible loss (timeshares are personal use property) and a $4000 cancellation of debt income. If you are not insolvent or bankrupt, the $4000 will be added to your income in the year of the foreclosure as "other income." (The loan is considered separately from the property so the $4000 loss doesn’t reduce the COD income at all.)

My uncle wants to give me his timeshare in Reno. I live in New Jersey. I took a liking to cruising over land based vacations. I would like to take it but need to know the pitfalls. If I decide later after I have taken it can I just surrender it without any credit damage?

The ease of renting your Reno Timeshare is determined by the quality of the property. If it is in a highly desirable building you may be able to trade for Cruise based time shares. It really depends on the quality of your property. If your property is in demand it opens all kinds of doors for you and resale should be possible etc, good luck

I went online to sign up to sell my timeshare and the agent call me on my phone but I am afraid he might scam me.

To resale or rent a timeshare is a hard task, the basic rule is not to pay money up-front, don’t be another victim of a scam. There are some free classified adds where you can post it and get some results:

http://timeshareownerscommunity.com/

http://tug2.net/

http://craigslist.com

http://ebay.com

http://timesharegateway.com/

http://bidshares.com/

I’m in danger of going into foreclosure on some timeshare property in Florida. Will the credit damage be just as bad as losing a house?

Depends on how the timeshare was sold to you – it could just be an account on your credit that will show delinquent and maybe repossession. Since you only own a portion of the property not the property itself it will not be a foreclosure.

You may see collection activity and this will DAMAGE your credit rating. Try to unload it – then negotiate with the creditor to take a settlement if you are upside down.

Good Luck,

I recently put a down payment on a timeshare in Mexico but changed my mind 4 days later. I notified by credit card company and they are helping me dispute it but I was wondering how binding the contract is considering it was signed in Mazatlan Mexico. Is there a grace period to cancel without any penalty? If my credit card company is able to get the payment from going thru am I home free? What can the people I bought the timeshare people do to me legally? What are my rights? They told me I can’t cancel the only thing I can do is down grade the timeshare purchase to a less expensive one or forfeit the down payment? Do you have to be a certain age to buy a time share in Mazatlan Mexico?

Timeshares sound great in how they present them. But in all reality they aren’t exactly what they seem…….look at HOW many people are trying to "sell" theres because they can’t do what they want or even close to what they want.

Wish you the best of luck, but really they make it look so great when in reality there is only ONE I know that I have heard anyway that is ok. The rest a big scam………

Best of luck to you. I am sorry, but I’m not sure the legal parts of this matter.