Time-Shares/Get out

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Question
We own a timeshare with spinnaker resorts on Hiltonhead island, after 3 different properties we have had enough with spinnaker and want out after promises that never panned out, reservations that could never be made.I feel like a moron for even buying there. We are in 3rd property , signed a contract in 2014. Can we get out of this?

Answer
Hello,

Unfortunately, getting out a contract after the rescission period is up is not very easy. I would suggest contacting Spinnaker to see what options they may have for you. If you have a open mortgage on the property then you would need to pay it off before anyone would look at purchasing.  

Spinnaker requires a buyer pay $1500 in prepaid maintenance fees to transfer the ownership so it has made them very difficult to sell. I would look for a broker on Hilton Head that specializes in selling local properties.

If you have any further questions please let me know.

John

Time-Shares

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John Kushman

Expertise

I can answer any questions regarding the timeshare industry, developer sales, resales, vacation clubs, donation, liquidation, listing, for sale by owner, RCI, II, SFX exchange. Anything related to timeshares or campground memberships or fractional vacation real estate

Experience

I have been in the industry for 7 years. I started selling timeshare for a developer in South Dakota. I then transitioned into the escrow side of the resale market and I am currently the VP of Sales and Marketing at Resort Closings, Inc. Resort Closings Inc is the largest timeshare escrow service in North America. It provides full service timeshare transfer as well as sales.

Education/Credentials
High School Diploma. 3 years of Higher Education.

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