Can I Sell My Timeshare?
Most timeshare owners have wondered, can I sell my timeshare, at one point or another. Timeshare salespeople frequently tell new owners that selling it is an option if they decide they no longer want it. The truth is that selling a timeshare is not easy and almost always unsuccessful. Timeshares have no resale value, unless you have a unique and highly desired timeshare somewhere. If you search online, you can find thousands of timeshares listed for sale and hundreds of websites to list them on. These websites make money from the thousands of timeshare owners listing their timeshares but that doesn’t mean that they are ever sold. You can find timeshares for sale for as little as 1 penny, with several years of maintenance fees paid in advance and they still don’t sell. Despite what you were told, selling your timeshare is not a realistic option.
Can I Rent My Timeshare?
If you’ve been thinking to yourself can I rent my timeshare to earn some extra money, don’t hold your breath. Some people try to rent out their timeshares to cover the cost of their ownership or even to make a potential profit. There are a few problems with this, one being that some timeshare companies do not allow it, many charge extra fees, and most timeshare companies list the properties themselves for rent at a much lower cost than a timeshare owner could afford to.
Can I Donate My Timeshare?
You may have heard of people donating their timeshares and asked yourself can I donate my timeshare. If you are unhappy with your timeshare giving it to someone you know is probably not something you want to do. Donating a timeshare to a church or other organization is difficult because they really don’t want them either. These organizations have become aware of the fees and other problems associated with the timeshare industry and they no longer want them. Also, in recent years it has come to light that people are trying to donate their timeshares in order to deduct them as a loss on their taxes but the IRS has caught on to this and many people have faced legal actions.
Can I get rid of my timeshare if I owe money on it?
Yes, even if you still have a mortgage on your timeshare, there is a way to get rid of a timeshare.
Can I get rid of my timeshare if I’m behind on my payments?
If you are behind on payments, whether it’s maintenance fees, mortgage payments or other fees, you can still get rid of your timeshare.
What happens if I just stop making the payments for my timeshare?
Not making the payments on your timeshare can effect your credit terribly. Some timeshare companies report foreclosures on peoples credit for forgoing making the payments on their timeshares. Even if you stop making payments and are not contacted by the timeshare company for some time, this is a tactic they use to get more money from you. After a period of time, the company will try to collect the money you owe as well as interest and legal fees.