Attend a Timeshare Presentation

Attend a Timeshare Presentation




Try it Before You Buy It!
Timeshare Resource Center has relationships with many different Timeshare Resorts and Timeshare Developers. It is often necessary to sample several different programs and timeshare presentations before you really know what fits your vacation lifestyle. To receive information on attending a timeshare presentation to test driving a timeshare vacation please provide your name and phone number. If you would prefer to be contacted via email, please provide that as well. Your Privacy is very important to us, the information provided will be used only by Timeshare Resource Center or an authorized representative. Thank you and enjoy your vacation.
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Timeshare Vacations

Timeshare Vacation Packages

The Timeshare Vacation Package

The Timeshare Vacation or, Mini vacation as it is often called, is one of the newest and most effective tools in the new age of timeshare marketing.  It has become such a force that most timeshare companies and timeshare developers have entire divisions dedicated to the sale and management of timeshare vacations.  Many have even gone so far as to hire well known spokesmen like Alan Thicke and Danny Bonduce to promote the value and enjoyment of timeshare vacations.  As with the idea of the off property contact or the OPC, the premise of the timeshare mini vacation is simple, people are far more likely to buy vacation property when they are on vacation.  The good times being had are all around them so it is easy to put them in the frame, because they are literally already there.  The amount of money that they spend on vacation is acutely evident to the prospective timeshare owner by the light feeling in their wallet and the big hole where their bank account used to be.  These combine to create a very conducive sales environment.





What is a Timeshare Vacation Package?
The timeshare vacation package generally comes in two distinct flavors, the sampler  and the taste test.  The timeshare sampler is usually a 5 to 7 day stay onsite in an actual timeshare resort.  The taste test is usually a 3-day 2-night package on a weekend or a 4-day 3-night stay during the week.  The 3-day 2-night taste test or “Mini Vacation” has become one  of the cornerstones of timeshare marketing in the classic weekend getaway destinations.  Las Vegas Timeshare companies, Anaheim Timeshare  companies, Orlando Timeshare companies and Myrtle Beach Timeshare companies have sold billions of dollars in timeshare intervals and created literally millions of new timeshare owners using this exact model.  The pitch is simple, you are going to visit these places anyway because you can’t get enough time off work for an old fashion 2 week vacation (this idea will get  dispelled later at the timeshare presentation) and you can drive there easily.  In addition,   if you are going anyway, why not go for free or very close to it?  The idea with these mini timeshare vacations is that the timeshare developers offer them for next to nothing and they  often include excursions for nothing, how can you possible say no?

Generally when a timeshare developer is trying to promote a timeshare resort in  an exotic location like a Hawaii Timeshare or  Bahamas timeshare or even Mexico timeshare, the taste test is not very enticing and  does not convert nearly as well.  Prospective timeshare owners have a hard time  justifying the travel time and hassle with long distance travel for such a short  duration, regardless of how good the deal seems for the getaway.  Because of this,  the great marketing minds in the timeshare industry decided that it would be better to  offer an extended stay at a timeshare resort for a greatly discounted price than to try to convince a vacationer that The Bahamas is worth the ordeal for 2 nights.  Generally, the prospective owner is offered a vacation with all of the rewards of ownership for about 10% of the market value.  Therefore, if your resort stay was going to cost you $3500, this timeshare promotion will get you the exact same accommodation for $350.  Now we are not talking about a weekend getaway to Las Vegas that you take 4 times a year, we are talking about a Dream Vacation for 10 cents on the dollar, how can you possibly say no?
That is the point, you cannot say no.

Want to Test out a timeshare vacation ? Find out how.

 

timeshare vacations

So What is the Catch?
I am sure that you dad taught you when you were very young that if something seems to good to be true, it probably is.  It usually came at the same time he was telling you that if it looks like a duck and quacks like a duck it is probably a duck.  Well he was right, there is a price to be paid for the Mini vacation that is almost free or the timeshare vacation that is only costing you $350 for a week in Hawaii.  That price is time spent with a salesman. This is the deal breaker for every single prospective timeshare vacation purchaser that does not take advantage of this amazing deal.  You absolutely DO have to spend part of your vacation or getaways listening to a very well mannered and often very highly skilled sales person explain to you that there  is a better way to vacation than what you have done in the past.  This person will use every tool and weapon at their disposal to get you to agree that their way of “owning your vacation” is the best and smartest thing you have ever done for yourself and your family.  The thought of this inevitable conversation often sends the exact same person whose eyes lit up at the thought of finally being able to afford that trip to Cancun screaming for the door or in the case of the phone salesman there may be a very quick dial tone.

The question you are asking yourself right now is, “is it really that bad”. The answer, in truth is no.  You are required to spend on average 90 minutes with a well dressed, likeable and in many cases attractive person whose only goal is to get you to understand that you do not take enough vacations and  when you do they are not good enough (oh and have you sign a check for about $20,000). The reason that people say they do not want to do this is that they will be so busy enjoying their vacation that they will not want to spend the 90 minutes away from the beach (by that logic, the 90 minutes is worth $3000 because that is what the trip will cost without the sales presentation).  And then of course the real reason, the salesman will make it seem like it is such a good idea that they would be insane to say no, so they won’t say no, they will say yes and this terrifies them.  The truth is, the salesman might be right, this family   might really need this to commit them to spending more time together. The sales person may be wrong as well, this might be a unique situation that just does not fit the timeshare model.  Either way, the worst possible case scenario is that you spend 2 hours that you probably would have spent sleeping anyway, talking to a person that has a different opinion than you about the best way to vacation.

Only you will know if that is worth $3150

Want to Test out a timeshare vacation ? Find out how.

Selling Timeshare

Selling Timeshare

At TimeshareResourcecenter.com we strive to deliver accurate, objective and useful information about all aspects of timeshare.  Since nothing in the world happens until someone sells something and Timeshare is no different, it is imperative that we deliver a section of our site dedicated to timeshare sales, the timeshare sales environment and the Timeshare Sales Presentation.   This includes the ability to sell timeshare, whether you are a developer of timeshare resorts or an individual who is looking to sell their timeshare privately and the ability to buy timeshare from many sources.  Timeshare sales can be the most intimidating aspect of timeshare, however it doesn’t have to be.  If you are looking to sell timeshare or buy timeshare, this section will give you the insight and information to do so intelligently.





When the concept of timeshare first made its appearance into the vacation market place, regulations protecting the purchasers of timeshare     were hardly existent if at all.  In fact, sales were quite often made over refreshing adult beverages at the beachfront tiki bar.  It was a strongly held belief that if you could loosen the client up a little and prime the pump, it was easier to put them in the picture. This practice made it much easier for that prospective client to make the jump from idea and theory to check book.  Sales made in this environment eventually led to a very dreadful and well deserved bad reputation to the early timeshare sales process.  It also let to the establishment of state laws designed to protect timeshare consumers from predatory sales practices.


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Visit Timeshare Test Drive for a variety of timeshare developers and locations that you can try out.

As timeshares became increasingly popular, developers like Hilton, Fairfield, Marriott, and Consolidated Resorts understood that having  a trustworthy and consistent sales department that exuded class, knowledge and integrity was the key factor for operating a successful and ongoing business.  It was also the key to having the FTC stop harassing the timeshare industry and recognize it for what it was, a revolutionary vacation idea that would fundamentally change the way people take vacations.  As such, these developers spent more time and money training their sales representatives to present their product in a professional, and truthful manner.

The result has had a positive effect on the stereotype that had plagued timeshare for years.  Rather than having to hide the recently  purchased timeshare from everyone to avoid shock, question and ridicule, parents, siblings, and friends now boasted that they owned a vacation property that could be exchanged for thousands of others throughout the world.

Top Timeshare Destinations

Top Timeshare Destinations

Timeshare resorts, although not limited to any place or places, do seem to congregate around certain areas of the country.  Popular    timeshare destinations tend to follow the same trends as popular hotel destinations. In the United States the timeshare industry has    historically focused on three main areas, Florida, California, and South Carolina.  These areas have the highest concentration of    timeshare resorts – great weather, beaches, theme parks and plenty of tourist attractions make them obvious choices for vacationers     which in turn makes the obvious choice for timeshare developers.




In Florida, the city of Orlando has about 50% of the state’s timeshare resorts.  The reason for this should be obvious to anyone who has     ever taken a vacation.  The allure of cartoon mice and endless other themed attractions can never be over estimated.  Disney World has become the vacation Mecca for all travelers and the thousands of resorts in the city are proof that Mickey and Minnie are not going anywhere.  The Las Vegas market is getting bigger all the time, fueled by its constant flow of travelers from all over the world, the number and size of the timeshare projects is growing faster than anywhere else in the industry.  Traditional retail resort developers are also getting into the act, including a massive project by Vegas icon and legendary developer Steve Wynn. Europeans, who take more vacations and longer vacations than Americans don’t have the tendency to stay home that Americans do.  They favor  warm, sunny places that are still easy to get to, like the Canary Islands and the Caribbean.  Here is a list of the hottest timeshare  destinations at the moment:


Test a Timeshare Today

Visit Timeshare Test Drive for a variety of timeshare developers and locations that you can try out. Includes reviews of different resort cities and prices.

 

Current Hottest Timeshares

– Home to Walt Disney World, Seaworld, Universal Studios.  Also home to more that 85 different Timeshare resorts

      • Hilton Head Island, South Carolina

– Fantastic for Golfers, Tennis players, Bird Watchers and people who just want to relax.

–   Once a very popular spring break destination, now the age of the tourists has increased and so has the level of accommodations thanks to several Timeshare developers.

–   With its historical draw and 19th century charm, Williamsburg is one one of the top timeshare destinations on the east coast.

– What happens is Vegas Stays in Vegas!  Including the fastest growing Timeshare resort collection in the World.  You will be hard pressed to spend 10 minutes here and not come in contact with a marketing rep from some Timeshare company looking for a way to sell Timeshare to you!

      • Florida coasts (both East and West)

– Although the majority of Timeshare resorts are in Orlando the rest of the state is no slouch and houses many timeshare developers in Coco Beach, Daytona Beach, Clearwater, Fort Lauderdale and anywhere else that has an average temperature of 75 and a view of the water.

      • California (especially Southern California Timeshares)

– Some of the new “Big Boys” are based and focused on the west Coast.  Trends West Resorts, Pacific Monarch Resorts, ILX Resorts and Shell Vacation Club are all Head Quartered west of the Mississippi. Anaheim timeshares, San Diego timeshares, Napa Valley, Lake Tahoe timeshares and San Francisco are all emerging giants.

– Although you don’t hear about Palm Springs Timeshare nearly as much as you do other markets like Las Vegas timeshare, Orlando Timeshare or Hawaii Timeshare.  The Coachella Valley is one of the fastest growing timeshare markets in the country. The rich and famous have been spending time in this little oasis in the high desert for decades.

  • Colorado Timeshare

– Developers started building timeshare resorts in Colorado so that vacation goers would have a place to ski but the ski towns have found way to stay attractive all year long.  The saying is “I came for the winters but i stayed for the summers” Breckenridge Timeshares, Steamboat Springs Timeshares and Aspen Timeshares are Colorado’s Big three.

– Sedona has been one of America’s best kept vacation secrets for a long time.  But for the timeshare developers, there is no secret about Sedona.

– Hawaii has and always will be a top Timeshare Spot.  Hawaii gives you the feeling of a truly tropical location and the security of still being on U.S. soil.  Currently there are Timeshare Resorts on all of the inhabitable Hawaiian Islands.

      • Mexico

–  Although the laws governing Timeshare and the timeshare industry vary slightly.  It has not slowed the development of mexico timeshare.  Every major resort destination in mexico has one if not more timeshare resorts the two most prominent mainstays being Cancun timeshare and Puerto Vallarta timeshare. If you are looking to buy timeshare, sell timeshare or trade timeshare,  mexico is a top selection.

 

Emerging Hotspots for Timeshare

    • In growing travel destinations, where demand for hotel rooms and accommodations goes up, so does demand for timeshare and  timeshare resorts.
    • U.S. Virgin Islands timeshare

– Unlike some other Caribbean destinations, demand for timeshare in the Virgin Islands has been low until now.  With timeshare resorts and timeshare programs succeeding on the islands of St. Thomas and St. John, the ability to sell timeshare in the virgin Islands has become a reality.

    • The less popular Hawaiian Islands

– Hawaii Timeshare has historically been firmly entrenched in Maui and the Big Island. Now however, the smaller islands of Oahu and Molokai are begining to join the timeshare trend.

    • Urban areas (United States and Europe)

– One of the most recent timeshare trends is to place timeshare resorts in urban areas.  Cities center have one major obstacle when it comes to timeshare development, limited space. However, urban interval ownership is becoming increasingly popular in places like San Francisco, Boston, and New York.  The ability to sell timeshare in the metropolitan areas unfortunatlely is much greater than the ability to develop it.

    • India and China

– As these countries that were once very difficult to travel in have become more tourist friendly and very sought after destinations, timeshare resorts have followed.  Developers now sell timeshare in places like Bangalore and Goa, in India and Shanghai and Hong Kong, in China.

    • Napa Valley

– Along with the emergence of the west coast as a timeshare hotbed, the introduction of some top rate timeshare resorts in wine country was not far behind.  Napa timeshare is one of the fastest growing markets.

    • Canada

– The new term for timeshare in the great white north is fractional owneship.  Although, the timeshare industry is spread evenly across the country. The most productive area to sell timeshare thus far has been British Columbia.  The  Vancouver and Victoria markets have established themselves as a hot destination for timeshare buyers.

 

Learn how to get Timeshare Deals

Timeshare History Part 1

Timeshare History Part 1

In The Beginning, Genesis: Birth of Timeshare Marketing
Timeshare marketing, historically has always been direct marketing. When timeshare originated, very few consumers were aware that it    existed.  The ones that did probably couldn’t explain how it worked.   So the marketing method of all timeshare companies was essentially    the same; set up an outgoing attractive person in a resort location to persuade tourists to spend 2 hours looking at a new “real estate    investment” , “vacation property” “vacation idea”.   The marketing agent “OPC” or Off Premis Contact,  would usually offer the    unsuspecting tourist an unbelievable deal in exchange for their 2 hours.  These deals they were offered, or premiums would range anywhere    from a quiet dinner for two, all the way to a helicopter ride over the grand canyon, depending on the location of the resort that was being promoted.




Since the idea of timeshare and the reputation of timeshare salespeople were both virtually unknown to travellers,  the tourists almost       always said yes.  Who wouldn’t, the helicopter ride costs in the neighbourhood of $250 and the nice person is only asking for 90 minutes of our time.  What the naive couple didn’t realize is that this was not your everyday presentation to show you a new idea.  This was a well thought out well planned process designed by some of the sharpest business minds and executed by some of the most ruthless salespeople in the history of man.

Test a Timeshare Today

Visit Timeshare Test Drive for a variety of timeshare developers and locations that you can try out. Includes reviews of different resort cities and prices.

The pitch was pretty simple, start by making sure that the prospect understands that they are not under any obligation to buy anything.  Follow up by asking them to promise that they will look at this idea with an open mind.  This sounds like a very fair request.   Since the timeshare prospect is already vacationing in this exotic location, the timeshare salesman doesn’t have a tough job convincing the prosect that this is  good vacation spot.  So the salesperson spends the next 2 hours explaining  that by becoming a “timeshare owner”  instead of someone who just rents their vacation whenever they get a chance, the couple will take more vacations, in better spots staying in higher level accommodtions for what would work out to be ultimately less money.  Throughout the two hours, the timeshare sales person gets the prospect to agree that they should take more vacations, that owning is better than renting, that taking vacations is something that is good for their family and that the would really enjoy staying in suite accomodtions in  resort rather that a motel room.

Timeshare thus far seems like the best idea they have ever heard and this whole experience has  been really fun.  The problem with the presentation is that if the prospect decided not to become an owner, the gloves would come off.  You see the developers often would spend upwards of $200 just getting the prospect into the office, between the cost of premiums and the wages for the marketing agent, so obviously not becoming an owner was not an option.  So the friendly salesperson would spend the ensuing 2 hours asking the prospect, how much they loved their family and berating them for saying they love their family but not enough to ensure  that they would get quality vacations.  They would also question  their intelligence because the prospect had already agreed earlier in the conversation the taking more vacations is a good idea.

Read part 2 of Timeshare History Phase 2: Telemarketing

All About Timeshare

All About Timeshare

Timeshare in General

Timeshare, otherwise known as Vacation Ownership, can be a confusing topic for many people. This article is intended to inform and
educate those interested in buying Timeshare, selling Timeshare, and trading Timeshare. However, in order to understand the
above-mentioned Timeshare themes, one must first comprehend the concept of Timeshare. To accomplish an understanding of the concepts of Timeshare trading, Timeshare usage, Buying Timeshare, and Selling Timeshare, questions that are commonly asked in a Timeshare presentation will be answered.




What is Timeshare?

Timeshare is a concept that allows people to own a fraction a product, whether it is a house, condo, boat, or plane, and use it
during a period of time. The time used by the owner can be either contractually fixed to the same time period over and over; or it
can be flexible, allowing the owner to use the time based on a reservation system.In any case, the concept of Fractional Ownership is becoming very popular among families and corporations alike. Businesses and families appreciate the quality, flexibility, and affordability that today’s Timeshare companies’ provide.

 

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Visit Timeshare Test Drive for a variety of timeshare developers and locations that you can try out. Includes reviews of different
resort cities and prices.

 

Where did Timeshare originate?

Timeshare was first originated in France during the 1960’s. The concept was for people to own their vacation rather than rent
one. Of course this meant, “owning” a portion of the deeded property at which they stayed, whether it be a hotel, condo, or house.
Over the years, Timeshare has evolved to include owning time on houseboats, cruise ships, and jets.

Who sells Timeshare?

Major hotel companies like Hilton, Fairfield, Ramada and Marriott have entered the Timeshare industry giving the overall image
of Timeshare a more visible and credible face. Depending on the state in which the sale takes place, the sales representative
may hold a Real Estate or Timeshare license. Having licensed representatives, policed by a governing body, present information
about Vacation Ownership gives the consumer more confidence that the information they are receiving is accurate. This has led
to the Timeshare industry gaining more credibility since the sales agent can lose their license if they are misleading, or
knowingly deceptive.

Where are the most desirable destinations for Timeshare Owners?

Since Timeshare desirability really depends on the vacation preferences of the traveler, there are desirable destinations all
over the world. However, when speaking in terms of quantity of vacation ownership developments and popularity of Timeshare,
there are certain areas that are more highly coveted because of terrific weather, diverse activities, and availability of
Timeshare Exchange. These locations are Florida, Hawaii, and California.

Learn more about timeshare on page 2 of All About Timeshare Page 2

Privacy Policy

Timeshare Resource Center

Privacy Policy

Innovative Vision LLC (“we”) respects and is committed to protecting your privacy. That is why we have adopted this Privacy Policy applicable to and covering: www.timeshareresourcecenter.com (“this website”). This Privacy Policy lets you know how your personal information is processed and used. We promise to only use your personal information in ways that are compatible with this Privacy Policy.

Collection & Use of Personal Information
You may browse this website without revealing any personal information about yourself. We do not automatically log personal data nor do we link information automatically logged by other means with personal data about specific individuals. We do not collect information about our visitors from other sources, such as public records or bodies, or private organizations. If you choose to submit an information request on our website, we will request personal information from you such as your name, phone numbers, email address, etc. This information will be used to contact you to discuss the information you requested. We will use the email address and phone numbers you provide us to communicate with you regarding this and this alone. You may choose to terminate any such correspondence at anytime and this will end the use of any information you have supplied This information will be kept in the strictest confidence, it will not be used for any other purpose, and it will never be shared with anyone outside of our organization and organization’s authorized affiliates.

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Some of our web pages utilize “cookies” and other tracking technologies. A “cookie” is a small text file that may be used to collect information about web site activity. We may track non-personally identifying information such as pages visited, click stream patterns, and dates and times that our site is accessed. This information is collected in an aggregate manner and we do not collect individual browsing profiles for individual visitors. Our use of cookies and other tracking technologies allows us to improve our web site and to adhere to terms and conditions of partnerships with website sponsors. We do not use cookies to store personal data nor do we link non-personal information stored in cookies with personal data about specific individuals. We do not share this aggregate, non-personally identifying information with anyone outside of our organization and organization’s authorized affiliates.

Legal Disclaimer
Though we will make every effort to preserve user privacy, we may need to disclose personal information when required by law wherein we have a good-faith belief that such action is necessary to comply with a current judicial proceeding, a court order, or legal process served upon us.

If we decide to change our privacy policy, we will post those changes to this privacy statement and other places we deem appropriate so you are always aware of what information we collect, how we use it, and under what circumstances, if any, we would disclose it. We will use your information only in accordance with the privacy policy under which the information was collected.

Contact Us

Timeshare Resource Center

Contact Us

To contact a representative of the Timeshare Resource Center, please e-mail your question, comment, or suggestion from the form below.

Click the link to find out more about Timeshare Resource Center.

Attend A Timeshare Form

About Us

Timeshare Resource Center

Timeshare professionals design Timeshare Resource Center, but it is designed from a consumer’s perspective.

About Us

Timeshare Resource Center was created to provide the most thorough information to consumers who wish to buy, sell or rent timeshare property. Our staff of writers has worked in many of the different branches of the timeshare industry for most of their professional careers. It is with this firsthand knowledge that the Timeshare Resource Center provides accurate and straightforward answers to the many questions people have about buying, selling, and renting timeshare property.

In addition to providing informative answers to the many questions about how to buy, sell, and rent timeshare, the Timeshare Resource Center will also highlight new properties in desirable locations throughout the world. With this knowledge the consumer can make better decisions about their future vacations.

As the Timeshare Resource Center evolves, more information and opportunities for our customers will be made available, such as mini-vacations to our highlighted resorts. Eventually, consumers will be able to browse our classified section where other Timshare Resource Center customers post timeshares for sale and for rent.

Timeshare Resource Center is committed to building and maintaining the most informative and consumer driven Timeshare website available to those interested in buying timeshare, selling timeshare and renting timeshare. If you have questions, comments, or suggestions on how we can make this a more complete and informative website please contact us.

 

Donate Your Timeshare

Donate your Timeshare

Timeshare as a Charitable Donation

Is your timeshare not working out for you? Have you tried to sell and can’t? If you decide to donate timeshare, find out the keys to getting the most out of it for a much higher tax return to you in CASH. The details for this article are located at: http://www.communityhealthtraining.org/Timeshare/Donation and IRS Regulations.pdf. Several IRS publications and regulations are quoted there.

A timeshare (TS) is considered real property or real estate (the same thing) unless it is only a long term lease as in some countries or a contract for points not using a deed. As real property, the first consideration is if it was bought originally for personal use or purely for rental purposes. The IRS is very strict on this issue. Don’t try to claim your purchase price as an investment loss unless you have a strong paper trial with receipts showing a long history of trying to rent your timeshare out and reporting any income derived from it. At best you will only get partial credit for the years you actually have such receipts. All other years will be considered personal use and you have to apportion investment versus personal use based on actual years with proof of renting versus years held. You’ll get nailed by the IRS for it is you claim anything different.

If you donate timeshare to a charity/nonprofit organization (NPO) you have to ask the NPO two very important questions: 1.) Do you, the NPO, actually take title to it; and 2.) If yes, then how long do you hold title before you sell it to someone else? The IRS says that if the NPO transfers  title to someone else within 36 months, the amount of cash actually received is the income deduction the owner can claim. So, if you paid $20,000 and they sell it for $500 you can only claim $500 as your deduction. If you’re in a 25% tax bracket you get a $125 tax return. If they don’t take title your deduction is ONLY the actual cash received. Here’s the IRS quote from Form 8282 (which includes real estate).




Purpose of Form Donee organizations use Form 8282 to report information to the IRS and donors about dispositions of certain charitable deduction property made within 3 years after the donor contributed the property. This form is essentially a trigger to an audit notifying the IRS that you probably claimed to much in a deduction and owe them more money due to the charity selling the TS within 36 months for less than the credit they gave you.

If title is taken by the NPO but not resold for 36 months then FMV must be determined differently. The IRS says: 1. The FMV is determined by the best applicable process of: a.) The original sale price, b.) The value based on it’s income generation (usually doesn’t apply to TSs), or c.) The cost to buy a specific close replacement to the original.

2. Also,  the sale is to be based on an arms-length transaction between a seller and a buyer, neither of which are needing to either sell or buy.

3. A maximum credit of $5,000 can be given by an NPO without a certified appraisal. This will be dealt with in another article.

So long as it’s not sold within 36 months, there’s no sale to limit your donation claim. Form 8283 states that if you claim more than $250 you must use it. If you claim more than $5,000 you must have an appraisal created and signed by a licensed appraiser.

Here’s a problem with this process. The NPO is a business like any other and has bills it must pay. They arrange for donations in order to ultimately receive cash. The NPO gets nothing until they sell it and DO take on all the ownership responsibilities you had. So, why should they accept your TS unless they intend to sell it?

Reality is that they really don’t have any better way to resell or even rent most TSs than the actual owner does. For that reason most charities have either a “black list” of TSs they won’t accept or have clauses like the following to prevent their potential liability – “No property will be accepted for donation if the market analysis concludes that the property can not be sold for a profit within a three week period.” If your property is one of the highest valued and prestigious resorts like Wyndham, Disney, Hyatt, or Sheraton or in a very high demand, minimal availability area, it seldom meets this criteria. No matter how beautiful and wonderful it is try a simple test. Try to sell it on eBay for $100 to see if anyone buys it. This is where a lot of NPO TSs end up through brokers they use. AND you get stuck with the IRS Form 8282.

When you are contacting charities check into what they do with TS donations. The vast majority sell them and yours may not sell. A very few charities retain them and rent them out for income. However, like you, they have to get more rent than the ownership fees are to make any cash so they are very picky in what they accept. A rare exception can be found a couple of places where the charity chooses to fight the resort at their own credit crunch game and will take your position in title to do this. However, for them to make a profit they must charge a fee for their services. That fee can range from $500 to $5,000 depending on the company. The good thing is that they can take almost any TS that can be deeded that is free and clear and transferable to their corporate name – regardless of how run down or decrepit it is.

Paying someone to take your TS sounds terrible, but if you’ve tried everything else, it may be your final option. What is your freedom worth? How much does it cost you every year to hold and hope for a sale? If you’ve reached the point of willingly paying someone to take your TS and do it NOW, make sure it’s a legitimate charity that can give you the $5,000 income deduction and NOT resell it within 36 months. If you make more than about $31,000 as a single person or $62,000 as a married couple, that equates to a tax refund in cash to you of $1,250.

If you’re interested in what can be done visit www.communityhealthtraining.org/Timeshares . One extra note. They don’t charge you a dime for anything until they actually take title. You never pay them directly. All finances are handled through a qualified and experienced closing company of YOUR choice.

Contact:
Dr. Ken Rich SeniorDirector@CommunityHealthTraining.org

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