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Thread: Gold Key Timeshare - Virginia Beach

  1. #1

    Gold Key Timeshare - Virginia Beach

    Hi,

    My wife and I purchased a timeshare three years ago, but our financial situation has changed since then. We have an off season week at Beach Quarters through Gold Key. We have decided that with the maintenance fees it is no longer practical for us to keep the timeshare.

    I have contacted a charitable donation site to try to donate it, but because it is in week 47 they would not take it. I have contacted the HOA and asked if they will accept a deed back of the property, but they will not. When we bought the property we were under the impression that it would be something we could sell later if we did not want it, but we are finding ourselves feeling pretty trapped by it right now. The property is fully paid off, but we want to get out from under the annual maintenance fees as soon as possible. I would be willing to literally give the property away, but I see dozens of similar properties on eBay selling for $1 and sitting unsold.

    Any advice is greatly appreciated.

    Thanks,
    Ward

  2. #2
    Goomba & Super Moderator tonyg's Avatar
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    When the timeshare market bottomed out during the recession, some properties started to get a resurgence in value, off season weeks never recovered. I don't know if off season will ever come back and if it does, it will never get anywhere near developer pricing. Even in the hey-day of timeshares, off season weeks only sold for a few hundred dollars at best and now they are still hard to even give away. Your best bet may be to give it away and you can offer it here in our deals or freebie forum.

  3. #3
    Quote Originally Posted by tonyg View Post
    When the timeshare market bottomed out during the recession, some properties started to get a resurgence in value, off season weeks never recovered. I don't know if off season will ever come back and if it does, it will never get anywhere near developer pricing. Even in the hey-day of timeshares, off season weeks only sold for a few hundred dollars at best and now they are still hard to even give away. Your best bet may be to give it away and you can offer it here in our deals or freebie forum.
    I was considering that, but I noticed that I have to be a more active member to be able to post there. Perhaps I will hit that point while I talk with folks here about any creative ideas they have for this sort of thing. I am talking with a friend who may want it to, so I am sure this will work out one way or another, but I find it is best to approach situations like this from a variety of perspectives.

    Thanks.

  4. #4
    Quote Originally Posted by ward View Post
    I was considering that, but I noticed that I have to be a more active member to be able to post there. Perhaps I will hit that point while I talk with folks here about any creative ideas they have for this sort of thing. I am talking with a friend who may want it to, so I am sure this will work out one way or another, but I find it is best to approach situations like this from a variety of perspectives.

    Thanks.
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  5. #5
    That's pretty reasonable.

    I'm going to check things out here for a few days, but I will keep that in mind. Thanks.

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