Annual fees and assessments due when you own a timeshare property.
We received the following submission from one of our users about their experience with Bluebeard’s Castle Resort in St. Thomas: “I was roped into buying a timeshare in 1993 on my honeymoon. Once we returned my wife and I realized we couldn’t afford it so never paid for it. We received a foreclosure notice from…
We recently received the following submission from one of our users regarding their timeshare property at Orange Lake Resort and Country Club in Florida: “We bought our timeshare 21 years ago and used it to exchange vacations in other resorts. It was a good experience but now that my wife has passed away and I…
We received the following question from one of our users: “I have been a happy Wyndham owner for many years. Recently, I bought more points because the salesman told us that upon our death, our children would not have to pay any of the maintenance fees until they wanted to use the resorts. Upon checking…
We have been timeshare owners of the St. George’s Club in Bermuda for 10 years. Over that time, the maintenance fees have more than DOUBLED but the club has gone downhill. Now, on a fixed income, we cannot afford these fees. Selling is out of the question as no one would want this timeshare. On…
Everyone seems hell-bent on seeing the math. I keep an Excel spreadsheet of ALL purchase with my Timeshare Resort and RCI. I know EXACTLY what I paid, What I’ve spent, what I’ve saved since my purchase November 2006 while at Desire Resort and Spa in Cabo. We purchased in 2006 and paid one year of…
The Wall Street Journal recently (April 2012) aired a video about the difficulty of selling timeshares. According to the WSJ, an estimated 50% of owners are behind on their payments. A few notes from the video:
A reader poses an interesting question he wanted to share with our readers: Why is the government doing nothing about timeshare scams? Time shares are not real estate or investments, they are nothing but empty space. In addition to my first question, how many time share owners does it take to keep up the maintenance…
A reader who is affiliated with a non-profit organization shares their experience with accepting timeshare as a donation. This is an important read for any timeshare owner, and provides a great deal of insight into issues surrounding increasing maintenance fees and stopping payment. “I am affiliated with a non-profit organization. We received a timeshare donation…
When talking about the value of timeshare, Hawaiian timeshares frequently come up as the example of a timeshare location that is able to hold it’s sale value. In light of the fact that timeshares in Hawaii tend to hold their value over time, there has been a lot of discussion as of late regarding rising…
Timeshare ownership requires that yearly maintenance fees be paid by the owners to assure that the resort is kept up to date and well maintained. These fees cover the cost of running the resort, landscaping, physical property maintenance, insurance, utilities, and replacement of fixtures, furniture and appliances. Maintenance fees also cover the costs of special…
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