Some timeshare buyers know almost instantly that they’ve made a mistake. Other owners struggle for years with loan payments and ever-escalating annual fees before they’re ready to throw in the towel. Even the happiest timeshare owners may decide they want out of their contracts, perhaps when they are no longer able to travel.
In my latest for the Associated Press, how to get rid of a timeshare.
Hi Liz,
Another alternative that requires little work and is easy to do is to donate the ownership of a timeshare to a 501 (c) 3 charity and let them auction it off. You can deduct your purchase price up to $4900.00 without an appraisal. I many cases, this is worth more than you could get through a fire sale. I have done this many time for a charity I belong to called The Roosters Foundation of Orange County, California. You can also donate a week that you cannot use.
Thank you Liz, I have shared your article on Getting Rid of a Time Share with my Real Estate Principles classes at Mt. San Antonio College.