Lyn
Atlanta,#2Consumer Suggestion
Thu, April 07, 2005
Some info from the Clark Howard show: Get rid of your timeshare by donating it - September 1, 2004 Clark has received many calls over the years from people who are stuck with a timeshare they just can't seem to sell. The truth is that timeshares are extremely difficult to sell no matter what you paid for them or when you bought them. Even if you love your timeshare, sometimes your circumstances change and you need to sell your week. The trouble is that there is no solid, active secondary market for selling timeshares because they lose about 80 percent of their value the moment they are sold. But there may be a new way to solve this problem. Clark read about the new option in the Wall Street Journal, but he wants you to keep in mind that it is very new. It's a donation program called Donate for a Cause, and it allows you to donate the timeshare to a charity and claim a tax deduction of $4,900. There is no fee at all, and you don't need an appraisal, according to the Journal. Clark wonders if there are any gotchas, and he wants you to know that you will be a guinea pig if you get involved. But he talked with the owner to find out if there are any gotchas, and he couldn't find any. Even the annual maintenance fees you have to pay are transfered with the donation. So, where does the timeshare go? When you transfer the ownership, you get a receipt for your donation and the proceeds go to a non-profit organization of your choosing. The Web site for information is donateforacause.org. The owner also recommends that you discuss the tax issues with your accountant before you deduct it.
Carl
Cumming,#3Consumer Suggestion
Tue, April 05, 2005
Everything you say is true, or at least we've been told and experienced the exact same things at the Villas. Have you also noticed that short check in-lines, complimentary wine and carnation upon check in, clean units, daily newspaper delivery, and personalized customer care have all gone the way of the orange and grapefruit groves? Westgate seemed to care about its owners at one time. Now you feel part of a herd. As an owner, first at the Villas and currently at the Lakes, I can fully relate to your feelings regarding Westgate. It does not surprise me that Westgate refused to take back your timeshare even though you asked for no money. I purchased a timeshare in North Georgia 23 years ago. With ever rising POA and maintenance fees, along with the occasional special assessment, I felt it was a financial drain and simply not worth it anymore. I offered to return my week with no money in return. To its credit, the timeshare management allowed us to do so although you must be current with all fees (I was). Had the management refused, I would have looked into donating to a charity that specializes in timeshares, and then I would at least have a tax write off. Any takers on your Westgate timeshare giveaway? If not, perhaps you can unload your timeshare through a donation. Please share your experience if you choose to do a charitable donation. Good luck!