Charlie Herf
Timeshare
Friday, August 24, 2018, 14:26

All suggestions so far are good. Have owned timeshare for 25 years at the ocean which is great if you use it annually but it is NOT a real estate investment. Mexico, as pointed out is a problem, and you have to buy your way out or assessments continue . The major scam in the US {mainly Florida] is to offer to let you out of your maintenance fees and assessments-but watch out. Many colorful callers and radio ads tout this BUT what will happen is you will sign over the unit and unless the transferee sells it you will continue to accrue fees and assessments because the property management company does not know it has been transferred. Either confirm and use an escrow company, a realtor who will escrow and sell , a lawyer or if you are in a state like CA or AZ talk to the management company which may accept a deed in lieu of foreclosure that ends obligations and gives them the right to sell it. Return on investment unless it is a unique well manged property [as at the ocean] is rare .