What is Timeshare?

What's the best way to sell a timeshare/vacation package without being scammed out of money?

• I have a Sheratin Vacation Resort Timeshare and I want to sell it now? I've heard so many horror stories about companies that claim they can sell your timeshare but they want hundreds of dollars upfront. What do I do?

• Answer:

  I can tell you my horror story with my timeshare. We bought in Ormond Beach, in 1982. We used our place one time and traded about 20. As you may know it costs about $150 to trade through Interval International and RCI. The rest of the years we had it rented out. We got to pocket about $250 each year we did this. By the time you figured out purchase price, yearly maintenence fees, special assessments and trading costs, you have spent much more than renting a hotel room. We tried every means available to sell our unit. We tried the large realtors, who advertise on TV, the little guys, the auctioneers, anybody and everybody. We could not find a soul you did not want money up front. I they really have a service to sell, they wouldn't want money up front. We finally sold oyr unit to the owners of the condo for 10% of what we paid for it. We did this just before the hurricanes hit Ormond Beach in 2004. Good luck.