TimeShare Wholesalers of Pigeon Forge, Tennessee
Getting Rid of Timeshares

We realize that a timeshare is not for everyone, forever. Maybe you have outgrown it, no longer need it, no longer vacation the way you once did, or have reached fixed income retirement years and are trying to downsize your expenses. In other words, you want to "get rid of your timeshare." Well... we can help.

According to industry statistics, nearly half the cost of what you pay for a timeshare week is related to sales and marketing expenses. Of the average price paid for a one-week timeshare in calendar year 2010, $16,431, nearly $8,000 (half of the original price) went to the cost of getting the buyer to the presentation, touring the resort, giving whatever gifts were advertised to bring the buyer to the presentation, and paying the commissions of the sales staff. The rest of the purchase price goes for the cost to build the property, including the developer's profit margin.

So, just like buying a new car, once you drive it off the lot, your timeshare has depreciated thousands of dollars, because of expenses that are tied in to the sales price, that you will never recoup. However, unlike automobiles, there really is no depreciation with timeshares; it's just that a lot of the price you paid goes to other stuff, not the actual cost of the property. So, as soon as you drive off the resort sales center, where you purchased your timeshare, the price drops in half. Sometimes a lot more.

So, what's a timeshare owner to do, if you no longer want to own your timeshare because you are no longer using it, the kids don't want it, the grand kids don't want it, and you are still paying the maintenance fees?

What do you do if you want to sell your timeshare and there are no takers? Real estate companies won't typically list them, not enough money in it for them. How are they expected to compete with owners that are listing them for little money? What commission are they going to collect?

What if you simply are willing to give it away? You've used it, no longer need it, but don't want it anymore for any of the above mentioned reasons? Therein lies the problem. Most resorts won't take the timeshare off your hands, and take it back. Why should they? Legally you are on the hook for paying maintenance fees whether you use your timeshare or not. Say your maintenance fees are $500 per year. That money is going to run and maintain the resort. $500, no big deal right? Well, if they take yours back, they are in putting themselves in a legal position where they have to take other owner's timeshares back. They can't be expected to tell you yes, and everyone else no, right? I mean, how would you feel if you were the one they said no to? Well if they wind up taking back 10 timeshares, at a loss of $500 in maintenance fee revenue for each one, that's now $5000 in lost maintenance revenue, per year, to run the resort and keep it in tip top shape. Wait, how many owners do you think would want to get the same consideration as you? 100? Now, that's $50,000 a year in lost maintenance revenue. A 1,000 owners? That is now $500,000 a year in lost maintenance revenue. You still think that's not a big deal? How do you think that resort would look without that type of maintenance dollar amount coming in every year? You think it would still look pristine, the furniture in nice shape, the appliances running, the pool clean, and the landscaping so inviting when you pull in to check in? I don't think so. Oh yeah, how do you think the other owners would feel about the maintenance fee rate hikes that will be coming to make up for all this lost revenue? Someone has to pick up the slack. Eventually they would also want out. Now, do you understand why resorts don't take back their timeshares?

They can resell it, you say? Do you have any idea how many empty weeks, points, they still have to sell? Why do you think new resorts are not being built on a regular basis anymore? Timeshare companies have plenty of unsold inventory to fill up and sell, without building new resorts. They don't need the space. This is why the resort that sold you, your timeshare, is not interested in taking back your timeshare. By taking it back from you, and others, they will be losing too much money.

Oh, yes, let's not forget about the scams.

Just as roofing contractors swoop in after a hurricane, tornado, or any type of natural disaster, to prey on homeowner's with no insurance coverage, scam companies are now cold-calling and mailing owners with promises of having ready and willing buyers for their properties. They know exactly what you own, because they are buying telemarketing lists of timeshare owners. That's right, you are on one of these lists. You see, when you own a timeshare, typically you have some type of legal instrument that has been recorded at the county courthouse where your timeshare resides. This is good. Having a deed, for example, recorded serves "constructive notice" that you are the legal and rightful owner of the timeshare. What's bad, is that this type of legal instrument will have your name(s), address, the legal description of your timeshare, including the size of the unit, the week number, how often you get to use it, even points if you are a points owner. As well as the date when you bought it and, even, what you paid for it. That's a lot of information for someone to know about your purchase. But, it is now a public record, that anyone can access. So, these scam companies buy lists of timeshare owners, like yourself, and call you. Since they know a lot about what you own, it opens the door for them to hook you, since you feel a sense of comfort because of all the information they have on you. "They must know what they're talking about. They're experts." Charging upfront fees, from hundreds to thousands of dollars, these companies do absolutely nothing but take the money and run. Resale scammers feeding on desperation have run so rampant, that the Better Business Bureau, named timeshare resale swindles one of the top rip-offs of the year. The state of Florida has launched a statewide crackdown on timeshare resale fraud. Florida's Attorney General's office has investigations open on at least a dozen companies, recently suing two Florida based companies that have allegedly collected more than $4 million in fees from owners, under the pretense of finding buyers for their properties.

At Timeshare Wholesalers of Pigeon Forge, we will assist you if you no longer wish to own your timeshare. We will look at what you own, and discuss your options with you. No upfront fees, contracts, or scams. We are not a marketing company; we are a licensed real estate firm. We will not charge you a consulting fee for our time. It is a service we provide. We might be able to help, or not. Regardless, if you can come away from our conversation with a little more information that will help you down the road, then we have done our job. Timeshare owners have timeshare friends. Word of mouth is important. Especially in this industry. Your friend might be in the market to own a timeshare, or pick up a second, or to "get rid" of one they are no longer using. If we can provide assistance, guide you, show you some ways that you can possibly recover the cost of what you paid for your timeshare, you’ll tell your friends about us.

If you have a timeshare that you no longer wish to own, Contact Us or call us at 865-446-4290.

Or, as they say in East Tennessee, if you're visiting this locality, kindly drop on in, have a "heapin' helpin' of our hospitality."

Y'all will be glad you did!