• January 17, 2019

What You Need to Know About Timeshares - Odessa American: Real Estate

e-Edition Subscribe

What You Need to Know About Timeshares

Font Size:
Default font size
Larger font size

Posted: Monday, November 19, 2018 12:00 am

(StatePoint) It’s estimated that at any given time, there are over 1 million timeshare owners looking to end their timeshare ownership. Unfortunately, exiting a timeshare is more complex than many people realize.

“Timeshare owners are never more vulnerable than when they’ve made the decision to end their ownership. The resale market is flooded, resorts have stacked the deck and con artists are waiting to take advantage of your situation,” says Gordon Newton, president of Newton Group Transfers and author of “The Consumer’s Guide to Timeshare Exit.”

There are several personal or financial reasons you may want or need to exit your timeshare, and there are several ways to do so, be it via a sale, transfer or cancellation. No matter how you part ways with your timeshare, Newton says it’s important to protect yourself by having a better handle on the industry. He offers the following insights to anyone who owns a timeshare:

• The fine print in your timeshare agreements may be the reason you can’t sell it.  Many resort developers see the resale market as a direct threat to their revenue stream and have accordingly rigged the system in their favor. For example, some resorts restrict rights and benefits for owners who purchase their timeshares on the resale market, intentionally devaluing your timeshare while also making it harder for you to unload.

• Only sign an agreement offering you real protections in your timeshare exit. Specifically, any agent you hire should be aligned with your interests, agreeing in writing to cover all timeshare fees – or legal fees - that arise during the exit process for a flat fee.

• Research your exit company’s credentials (through the Better Business Bureau, the state’s attorney general, consumer protection agencies and a general internet search) looking for a minimum five-year track record of success. Beware of companies that make it hard for you to research them.

• Be wary of timeshare exit companies boasting “attorneys on staff.” Those attorneys will be acting in the best interests of the company, not yours.

• If an exit deal sounds too good to be true, it probably is. Be wary of phone solicitors telling you someone has a buyer, anyone advising you to stop paying your timeshare mortgage or maintenance fees, “donate your timeshare” programs, or anyone marketing a guaranteed timeframe for the exit. These are all red flags.

For more tips and insights, visit myexitguide.com to download a free copy of “The Consumer’s Guide to Timeshare Exit,” a recently updated guide created to help consumers avoid scams when ending their timeshare ownership. Or call 888-344-9776.

If your timeshare has become more of a liability than a joy, you’re not alone. But don’t get burned. Take steps to part ways with your timeshare efficiently, safely and with care.


Photo Credit: (c) WavebreakMediaMicro / stock.Adobe.com

Odessa, TX

Current Conditions

Humidity: 26%
Winds: SSW at 10mph
Feels Like: 69°

Your Extended Forecast


High 70°/Low 46°
Partly cloudy. Lows overnight in the mid 40s.


High 70°/Low 38°
Partly cloudy and windy. Highs in the low 70s and lows in the upper 30s.


High 60°/Low 34°
Sunshine. Highs in the low 60s and lows in the mid 30s.
Online Features

Pet Central


Having a pet is a lot of responsibility, and we’ll help by giving you lots of tips and tricks! More >>



Our fitness articles will help teach you how to work out with gym- and home-based exercises. More >>



Enjoy the crosswords challenge in our free daily puzzles, from the harder Sunday crossword to the quicker daily. More >>



Every Sudoku has a unique solution that can be reached logically. Enter numbers into the blank spaces so that each row, column and 3x3 box contains the numbers 1 to 9. More >>

  • ALL-ACCESS: Subscribe to our e-edition and premium website at myoaoa.com.
    You can read your daily newspaper without taking a walk to the driveway.
    Look back at yesterday's newspaper, or issues from months ago with our archive feature.
    Call circulation at 432-337-7670 to sign up today.