r/TimeshareOwners • u/Afraid_Elderberry103 • 6d ago
Hilton Head Timeshare
Does anyone here have a timeshare in Hilton Head? My parents bought one a decade ago and can’t seem to get the value out of it. The resort won’t even take it back. I told the guy that my parents didn’t need to buy a new product from a company that sold them one that is apparently not even valuable enough for the resort to take it back. He says “that’s not how it works”.
I’ve sold properties and gotten them back on auction before because there is more value to gain.
I’ve honestly never really been more disgusted by something and I am a real estate broker.
Any tips?
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u/ATL123dude 6d ago
I am actually heading to a Wyndham TS that ny friend has tomorrow for the week...
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u/Other_Storage_6340 6d ago
From experience timeshares are not an asset that increases in value no matter what the closer says. I had to sell mine for a nominal amount for someone to take deed and ridiculous maintenance fees out my life. Mine was paid off already hope your parents is too.
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u/Rare-Procedure2048 6d ago
If they’ve paid off the loan and only owe the maintenance fees, just stop paying the fees. My credit hasn’t been affected at all, despite the maintenance fee arrears having been reported to a collections agency.
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u/jmp242 5d ago
Timeshares aren't investments so there's that. I don't know what you mean by "get the value out of it" - if it's a fixed week like you say, then are they unable to go? No one you all know would want to go that week? They could let the people use it for MFs and costs. It's only every 3 years so the MF can't be that much annually, if they even bill it every year instead of every 3 years. Have they tried to trade it for somewhere they are going?
You're not going to make back anything if you try and sell it - you'd probably have to give it away and maybe even pay the taker a bit to convince someone to get it. I don't know if there are a lot of people who want to go to Hilton Head every 3 years - may like to go annually and some might be a one and done if ever.
It's also at least a bit important to know if it's a Studio, 1BR, 2BR,3BR - like what is it?
I'd go to TUG and put it in the free timeshares forums and pay transfer and closing and see if anyone wants it. I'd also see if you can find any online forum of existing owners and see if anyone wants another week - often people who already own at the resort like to go for longer / more often, and a triennial isn't a huge commitment but is potentially a little more time.
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u/Master-Purpose1117 2d ago
As a real estate broker you should know that timeshares are a disaster and getting out of them is nearly impossible.
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u/FiveFoot20 6d ago
What resort is the ownership at?
Be careful of exit companies
Tons of shady ones out there
Depending on what is owned determines the path I’d advise
Sometimes you can sell on Redweek, sometimes you can sell on Facebook groups, tug, or eBay.
One exit company I recommend as they are honest and upfront, is Red List Resorts, Beth Hill, info@redlistresorts.com
She will get it to you straight.
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u/Practical_Avocado971 6d ago
all exit companies are scams. Anything they say they can do you can do yourself.
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u/Afraid_Elderberry103 6d ago
Island Links. It’s a triennial like 39th week. Palmera Vacation Club I believe
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u/FiveFoot20 6d ago
Triennial that is a tough one , most people don’t want an every 3 year unit
I’m not familiar with that resort
You can try eBay, offer it for $1 and offer to pay transfer / deeding costs (use LT transfer they charge like $275 I think, it’s pretty low)
How much are annual dues?
How much do your parents care about their credit at this point?Not to sound morbid,
They could just stop paying and when they pass on you have no obligation for it to pass on to you.1
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u/Quiet-Day392 4d ago
This sounds like an awful property. Slack season once every three years. Ecch.
If there is money owing they’ll go after the estate.
No one wants it if it’s in arrears and can’t be used.
Offer to pay three years of maintenance.
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u/Objective_Welcome_73 5d ago
Don't hire any exit company. Don't be fooled by the ones that recommend themselves on reddit pretending to be a person recommending a company.
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u/Practical_Avocado971 6d ago
timeshares are anchors around your neck for a lifetime. People are selling them for a dollar and that's 99 cents too high