Owing a timeshare comes with a number of disadvantages. There are annual maintenance costs and special assessment fees involved. With these, several owners today want to get out of their timeshare contracts. Most owners decide to sell it first in the hope of recovering some amount that they had paid for such property. But doing so is quite difficult nowadays especially with the economic downturn.
What matter to most owners today is how to get rid of their timeshares. An alternative option is to donate it to a non profit making organization. However, there are some steps you need to follow upon choosing this option. First, know the value of your timeshare on the secondary market. Try to look at some sites on the internet or check it out with the local county recorder or a local appraiser. Next, decide which way you wish to carry out the transaction and how quickly you would prefer completion to be. Different nonprofit-making organizations have varied ways of taking over your timeshare. So, better understand the procedures to be followed.
Meanwhile, there are two main ways of donating your timeshare. A cash sale which you hold onto it until the sale is ready to go ahead, or let the nonprofit making organization take the title without delay. Thus, relieving the position of your ownership immediately. There are no fees involved with these. You just have to provide all the relevant paperwork pertaining to the resort and the conditions of your timeshare.
Donation has become one of the most preferred options in getting rid of a timeshare nowadays. While some hire a timeshare transfer company such as the Transfer Smart just to get rid of their timeshares, donation can be a effective way without fees involved. If you choose to donate your timeshare, you can save yourself from all the heartache of marketing and advertising involved in selling such property.