How to get rid of my Monarch Grand Vacation timeshare - Any advice appreciated!

[Diego56 Junior Member Find all posts View Profile Close Diego56]

Hi everyone, new here. I stumbled on this forum searching google on how to get rid of my Monarch Grand Vacations timeshare. Seems like I found a forum devoted to timeshare experts, so hopefully someone can help or at least point me in the right direction.

I have 155 points every 2 years. I paid the timeshare off a couple years ago and now I only pay this $150 quarterly maintenance fee. I've owned it for about 10 years now.

The problem is that we just had a kid and probably won't be traveling much in the next few years. Plus we are trying to save $$ to buy a house and this is another luxury expense that we'd like to cut.

My questions:

1. What's the easiest way to get rid of the timeshare? Just a straight transfer of ownership?

2. Can I donate it? Basically transfer the ownership? Are there sites where you can do this? I don't plan to sell because it seems like there isn't a market and I don't want to waste my time. I'd rather cut my losses now.

3. Where is the best place to find people looking for timeshares? Ebay? Forums?

4. I came across a lot of sites that seem like you pay a fee for a legal team that will throw some legal documents to the timeshare company and they magically make the timeshare disappear. Anyone have any experience with these?

I also own another timeshare down in Cabo through a different company and structure (one unit at one resort rather than a point system where you can go to many resorts like MGV's setup). I want to get rid of that one too but that's another forum topic .

Thanks in advance for any help!!

[Diego56 Junior Member Find all posts View Profile Close Diego56]

Bumpity bump bump.

Anyone? Beuller? Any advice is appreciated.

[taffy19 Gold Contributor Find all posts View Profile Close taffy19]

Whatever you do but try not to pay a big upfront fee because they will sell it on eBay and you can do that yourself but you have to be careful. If you want to sell it fast, I would use eBay. I just looked up your resort which is a Club, I believe.

There are companies too that charge a large advertising fee but it will not sell most likely because they have you list it for too much money and nobody will pay that. They give you the high sales price so that you will sign up with them but it is money down the drain.

You can advertise it on this forum free of charge but you need to post a certain amount of posts before that becomes available to you. I believe that it is 30 posts.

You can also pay a small advertising fee to Timeshare Rentals, Timeshare Resales, Timeshare Ratings, and Timeshare Reviews or Time Share, Timeshares, Timeshare Resales and Rentals, Buy A Timeshare and there are many more like that if you Google it. I am not familiar with these companies but many people use Redweek and Myresortnetwork or even craigslist.com.

You can also give it to charity but you have to be extremely careful because some are fraudulent and will make you pay an upfront fee again. Some other members may join in and give you a charity website to work with.

Have you contacted your resort and ask if they will take it back? Some do but most don't but why not ask anyway. Good luck.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

I'm surprised no one has answered. They would likely say there is little to no market for timeshares, so don't get excited about getting rid of it.

If you could, we have a half-dozen weeks we would have already unloaded.

But . . . don't fall for a postcard company. (use the Search feature)

Don't pay an upfront fee to anyone.

Don't pay an appraisal fee to anyone.

Be very dubious of claims to be able to sell your timeshare.

Do try a few inexpensive or free sites such as craigslist.

If you can, rent out what you have to offset your fees while you're still stuck with it.

google around a bit

[Hostelling Senior Member Find all posts View Profile Close Hostelling]

The timeshare industry is damaged goods. Neither Developers, nor most elected owner management associations, developed an exit strategy for individuals who's lifestyle and circumstance has changed. There are a few exceptions, you will recognize them by their product value not diminishing.

You have tried to give the timeshare back but you offer has fallen on deaf ears. You ask if the property has value why don't they take it and sell it again at bloated prices? A simplistic answer; no marketing strategy.

With a new baby and the need to find a larger primary home, the only expedient means of halting the drain of your finances, by maintenance fees, is to simply stop paying them.

Eventually the inefficiency of the timeshare developer and /or management company will be overridden by their need for cash flow. They will take back the deed in lieu of foreclosure. Why? Because you are forcing them to find an alternate cash cow.

Here is where most people shudder and think isn't that almost the same as "foreclosure", and isn't that the unpardonable sin, of which the wages of is a lower credit score?

Yet the commercial real estate bust reveals again the hypocritical nature of the....industry. Morgan Stanley is (deeding back property). News reports said the bank plans to give back five San Francisco office buildings to its lender-just two years after buying them at the top of the market.

“This isn’t a default or foreclosure situation,” spokeswoman Alyson Barnes told Bloomberg News. “We are going to give them the properties to get out of the....obligation.” So they are making a conscious choice of walking away from their bad choice. Sound familiar?

As an individual, rather than a large bank, will you get hit at the credit reporting agencies? Not likely, I use all three agencies and have never seen a timeshare deed in lieu reported. But if you become the exception, simply submit a rebuttal letter explaining how you did a "Morgan Stanley" and gave up ownership to get out of the obligation.

Have a great life with your baby, on the whole this unwanted timeshare is small stuff, don't let it worry you.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

The timeshare industry is damaged goods. Neither Developers, nor most elected owner management associations, developed an exit strategy for individuals who's lifestyle and circumstance has changed. There are a few exceptions, you will recognize them by their product value not diminishing.

You have tried to give the timeshare back but you offer has fallen on deaf ears. You ask if the property has value why don't they take it and sell it again at bloated prices? A simplistic answer; no marketing strategy.

With a new baby and the need to find a larger primary home, the only expedient means of halting the drain of your finances, by maintenance fees, is to simply stop paying them.

Eventually the inefficiency of the timeshare developer and /or management company will be overridden by their need for cash flow. They will take back the deed in lieu of foreclosure. Why? Because you are forcing them to find an alternate cash cow.

Here is where most people shudder and think isn't that almost the same as "foreclosure", and isn't that the unpardonable sin, of which the wages of is a lower credit score?

Yet the commercial real estate bust reveals again the hypocritical nature of the....industry. Morgan Stanley is (deeding back property). News reports said the bank plans to give back five San Francisco office buildings to its lender-just two years after buying them at the top of the market.

“This isn’t a default or foreclosure situation,” spokeswoman Alyson Barnes told Bloomberg News. “We are going to give them the properties to get out of the....obligation.” So they are making a conscious choice of walking away from their bad choice. Sound familiar?

As an individual, rather than a large bank, will you get hit at the credit reporting agencies? Not likely, I use all three agencies and have never seen a timeshare deed in lieu reported. But if you become the exception, simply submit a rebuttal letter explaining how you did a "Morgan Stanley" and gave up ownership to get out of the obligation.

Have a great life with your baby, on the whole this unwanted timeshare is small stuff, don't let it worry you.

Two major Branson developers of two major gated communities have had the bank take back all their unsold property. Thousands of acres, including improvements like roads, sewers, utilities already in.

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

I didn't notice this post either.. MGV memberships still have some value as long as the base is 155 points (310 and higher are still the most marketable).. You should be able to give this away. I've been able to liquidate a few this past year.

Post a message in the freebies, and if no responses in a week or two offer to pay the transfer fee.