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Old 11-04-2010, 06:59 AM   #21
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We got what we bought it for from the developer 15 years earlier. The fact that is was in Jackson Hole adjacent to a golf course no doubt helped.
Wow that is an amazing resale value. I think it underlines how tricky it is to resell these things.
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Old 11-04-2010, 08:14 AM   #22
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You need to become a TimeShare broker of the Third Kind. What you do is find someone who is about to declare bankruptcy anyways and get them to buy or accept timeshares from folks who want to get rid of them.
... or form a corporation which will hold/dispose of the troubled assets.

For less than the cost of a few monthly maintenance fees, the thing could be deeded into a corporation (created for this pupose).

Can't get blood from a stone.
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Old 11-04-2010, 08:19 AM   #23
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I can see the headlines now from The Onion:

"Fannie Mae Converts All Foreclosures to Time Shares"
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Old 11-04-2010, 08:54 AM   #24
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From ClarkHoward.com (Clark Howard has a syndicated consumer oriented radio show):
Aug 09, 2010 -- Getting rid of a timeshare may cost you $2,000

For the last eight years, Clark has guided timeshare owners who wanted to get rid of their obligation to DonateforaCause.org.

This group allowed you to donate your timeshare to charity and claim a tax deduction of up to $5,000 with no costs involved. It eliminated all maintenance fees, taxes and any special assessments from your life.

Before the economy tanked, DonateforaCause.org was able to take on the majority of timeshares that people brought to them to unload. Recently, however, we got complaints from listeners who said they were either getting the brush off from the company or being asked to pay money, which is a big red flag in Clark's book.

So Team Clark called DonateforaCause.org and spoke to the company's president Crystal Foss. She explained the timeshare resale market is so broken that they can't accept more than 90 percent of the properties people try to get rid of.

So her company set up a guaranteed for-profit operation that will charge you $2,000 to take the timeshare off your hands.
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Old 11-04-2010, 09:43 AM   #25
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I like Brat's idea for us to post our timeshare in the assn newsletter. We bought our timeshare in 1999 in Kauai. We still really love it there, but for what it costs to fly, stay in our timeshare and maybe stay another week due to the long flight, we can go to Florida for a month. Our maintenance fees are $1430 every other year. We have a float/float oceanfront timeshare. Paid $7800 for it and really feel we have enjoyed it. But I don't want to give it away either. So, until I take up Brat's idea, I am going to continue to try to rent it. First time out, we were successful.
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Old 11-04-2010, 11:00 AM   #26
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The last sales pitch we had for a time share in Hawaii was for $700 maintenance fees a year plus the cost of the time share. At the time we were on vacation in Hawaii on a deal from the Entertainment book so our condo costs were only $700 per night anyway, without any long term commitment or initial 20K cost.

When I multiplied by 52 what they were selling the time shares for, they were selling ~$300K condos (if you bought it outright) for ~$900K, plus collecting $35+K annually in maintenance costs (assuming all weeks were sold). A good deal for the developers, not so good for the buyers.
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Old 11-04-2010, 12:59 PM   #27
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This thread suggests a new business to get into. Maybe I can convince thefed that he needs to do this:

You need to become a TimeShare broker of the Third Kind. What you do is find someone who is about to declare bankruptcy anyways and get them to buy or accept timeshares from folks who want to get rid of them.

That way the folks who get rid of the timeshare(s) do not get dinged on their credit report while for the person going bankrupt it just doesn't matter. Indeed, they might be able to make a little money by getting people to pay them to take on the ownership of the timeshare.
I believe the technical term for that is "fraud".
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Old 11-05-2010, 12:05 PM   #28
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Thanks for all the replies, suggestions, and website references.

If anything I say does not make sense it might be because all I know about timeshares would not fill a thimble.

Just to repeat a couple of things that may have gotten lost in the thread:

These timeshares are not in any particular location, property, unit, or week of the year. It is some kind of floating deal where the owner goes through a booking service to reserve a unit at one of the company's locations. There was also a mention of accumulating "points" but I don't know any more than that.

The timeshares are not owned by me, but DW's sister and her ex. That is also one of the reasons I don't know all the details.

I might have attended a timeshare sales pitch sometime in the 80's and for a number of reasons did not buy. I can, however, think of some very specific situations where owning one of these might be a good thing, but in general it is not appealing to me.
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Old 11-05-2010, 04:29 PM   #29
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Thanks for all the replies, suggestions, and website references.

If anything I say does not make sense it might be because all I know about timeshares would not fill a thimble.

Just to repeat a couple of things that may have gotten lost in the thread:

These timeshares are not in any particular location, property, unit, or week of the year. It is some kind of floating deal where the owner goes through a booking service to reserve a unit at one of the company's locations. There was also a mention of accumulating "points" but I don't know any more than that.

The timeshares are not owned by me, but DW's sister and her ex. That is also one of the reasons I don't know all the details.

I might have attended a timeshare sales pitch sometime in the 80's and for a number of reasons did not buy. I can, however, think of some very specific situations where owning one of these might be a good thing, but in general it is not appealing to me.
Too bad DW sister could not just file a quit claim deed and leave ex holding the bag...One method of getting rid of TS that used to work was to contact the sales manager at the TS location, tell him your looking to get x out of the sale and he can have whatever he makes above x on the sales price.
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