old timeshare units

Started by BobbieH1 • 4 replies • 1157 views

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BobbieH1 (Missouri)
Posts: 1

Posted:

i just recently have an opportunity to purchase a very old and run down timeshare resort.
however im finding that there are only 180 owners and most of them if not all of them wish to give their deed back and stop paying maintenance fees. im having no luck finding any commitee. please give me some advice on how to un ravel this from timeshare all together. Thanks

GlenL (Ohio)
Posts: 5,491

Posted:

Hire an attorney.

Studies show that 5 out of 4 people have problems with fractions

AnnaD2 (Florida)
Posts: 960

Posted:

Run Bobbie, Run! There is a reason those people don't want their time share anymore. Don't get caught in that trap!

KirkW1 (Texas)
Posts: 1,665

Posted:

Are you looking to simply own the resort outright? If so, then get as many to give up their property as possible. The remaining ones present a different challenge. But there may be a way to force them into a sale.

If you want to restore the timeshare to usefulness, then it is probably too late given that most are more interested in walking away from their money.

SusanW1 (Michigan)
Posts: 5,202

Posted:

Are you going to purchase the entire resort OR are you thinking of purchasing a timeshare within a resort.

You need to find out WHY these owners are ready to bolt. See if you can take a few couples out for lunch and get the details.

No sense in walking into a swamp . . .lined with alligators!

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