posted 01-24-2002 06:04            

[Ronald,

I know this is your first message and so might not know how things are done on the BBS.

I deleted the name of the resort as it was not necessary and could be seen to be an ad. There's enough information there for members to address your problem. M.K.]

posted 01-24-2002 08:22            

You could also list it with Ebay and take any high bid (of even a $1 or more) and essentially give it away. Also, there have been some posts here about donating the TS to charity. There was a lady posting here who took them for some kind of "German Language School"???? and several others mentioned.

posted 01-25-2002 04:41            

quote:

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Originally posted by Hatrack79:
I was under the impression that a week is always worth more than "zero dollars". The resort and/or homeowners' association should be willing to take it for free and sell if for at least a few hundred dollars. Hatrack

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Many resorts don't have a resale department or have so many units as they must give them away themselves just to get someone to pay the yearly fees. Having more owners to pay the fees is a good thing from a resort standpoint.

posted 01-25-2002 14:40            

quote:

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Originally posted by Hatrack79:
I was under the impression that a week is always worth more than "zero dollars". The resort and/or homeowners' association should be willing to take it for free and sell if for at least a few hundred dollars.

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Not always the case.

If you remain the owner, you are still liable for any maintenance fees that come due (and any taxes, asessments, etc.) so they want you to stay the owner. If you have a decent week, and the HOA has a resale department, they might be willing to take it back - but again only if it is a decent week that they could turn over fairly quickly to a new owner. Otherwise, the remaining owners end up paying a higher share of the maintenance for the resort.

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Melinda Towne

posted 01-25-2002 18:44         

quote:

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Originally posted by Laurie:
By all means do join TUG, but your best bet for the best resale price would most likely be Ebay, because anything near Disney World seems to always get multiple bidders!

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posted 01-26-2002 05:59            

quote:

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Originally posted by JimJ:
My guess is that most of the resorts or HOA do not belong to the credit reporing agencies. Now, if you had finaced the week through a fincance agency or bank and still owed on the loan, then you would also be defaulting on the loan and would almost for sure have a negative mark in the crdit files. I didn't interpret the initial problem in this thread to be on a week with a loan balance.

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posted 01-26-2002 08:51            

quote:

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Originally posted by overthehill:
A Quit Claim deed is typically used to clear title as it's main function is to convey any and all interest the Grantor may have in a specific property. As a seller it does just that. As a buyer of real property, one should ask for a Warranty Deed as the Grantor guarantees to a Grantee that the title tranferred is good against almost anything. If a seller doesn't want to provide a Warranty Deed it may signal to the buyer that there may be a defect in the title. (NOTE: I am not an attorney, just a retired mortgage banker living in a community property state where QCD's are often used to clear title or establish lien priority.)

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Excellent "layman's" definition! In California we use a "Grant Deed" instead of a warranty deed, but they're virtually synonymous.

posted 01-28-2002 16:57         

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Michael