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Filing a quit deed on a timeshare in Florida?

I have a timeshare in S. Florida, Palm Beach Shores on Singer Island, that I can not afford to pay the yearly fees on. I want to give the timeshare back to the company or something like that. Whatever it takes to free me of the financial responsibility of this timeshare. My timeshare is paid in full, so there's nothing like that to worry about, but I must get rid of it this year. I can not afford to keep paying $400 a year for this timeshare.

What does a "quit deed" involve?

Can I get rid of this property for free?

Please, what options do I have?

Thank you for your help.

Update:

I wrote someone on ebay and this is the answer they gave me. I spoke with webuytimeshares, but I will be surprised if they want my timeshare. I won't know for a week or two. Hopefully this info will help others though:

Thank you for your inquiry, however, I no longer broker, sell, or buy timeshares from individuals or un-trusted sources, as I have been burned too many times in the past. I actually own all of the timeshares that I have for sale. If you are serious about selling yours, I recommend a company called webuytimeshare.com. They buy it outright from you, handle all of the paperwork, and even pay the fees to do so. Unfortunately, they do only pay wholesale prices, but to avoid the hassles of finding an appropriate buyer, finding a closing company to handle the transaction, and paying the closing costs and other fees to transfer, and so on, it is usually worth it. You can find them on the web at www.webuytimeshare.com or by phone at 1-800-403-4042.

Update 2:

Continued:

Another option is to find a buyer yourself and to hire a closing company to handle the transfer of ownership paperwork. I currently use The Timeshare Company (800-370-9336) to handle all of my closings. I’ve had tried many different companies in the years I have been in the timeshare industry, and have found this company to be the most efficient, reliable, and cost effective. I’ve also had no complaints from my purchasers, which speaks volumes for this company. If you are able to find a buyer, then I would recommend contacting this closing company to handle the transfer.

6 Antworten

Relevanz
  • vor 1 Jahrzehnt
    Beste Antwort

    i'm in the same boat-different state. i found it easier to just transfer title to a friend who wanted a timeshare and she is the happiest friend ever. My timeshare has stopped accepting shares back(they cant sell it either) but they have the transfer paperwork for both parties to fill out so it was super easy to do. Ask and offer it to everyone you know- someone is looking for a good deal.

  • Anonym
    vor 1 Jahrzehnt

    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/

    Another alternative is donation, some charities take these timeshares.

    Donating a timeshare is a quick way to resolve your real estate burden. There are no upfront fees, the charity will handle the timeshare transfer process for you, and it is taken care of quickly. Many charities will let you start the process online, and then contact you to finish up all of the paperwork. And of course, you will have the knowledge that your donation went to help a worthy cause.

    One of the main advantages of donating is the tax write-off benefit. While you will generally receive more money if you sell your timeshare, if you like the idea of donating, you will still get some financial benefits. Once the timeshare transfer is complete, the charity will send you a receipt as proof. There is usually not a dollar amount attached, which is what you will need to determine yourself. Keep in mind that if the fair market value of your timeshare is over $5,000, you will need to get an appraisal to claim that amount on your taxes. You will need to pay for the appraisal yourself, which is often in the $300-$500 dollar range.

    You can see a list of them here:

    http://timeshareownerscommunity.com/Charities-Acce...

  • vor 5 Jahren

    Nope, because even if a timeshare is completely paid off, it's a sort of co-op and you have to have permission of the corporation before you can do that.

  • vor 1 Jahrzehnt

    Transfer Deed

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  • vor 1 Jahrzehnt

    I am looking for a toime share in florida, what part of florida is it? please let me know.

  • vor 1 Jahrzehnt

    They have to accept the deed back. I sincerely doubt this is going to happen.

    You will have to pay someone to take it.

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