Need help!!! Hilton Timeshare in Hawaii

[c00mtg]

Hi everyone,

Has anyone had any luck getting rid of a timeshare?

I'm currently in talks with a lawyer who wants to charge $2300 to get rid of it.  I've read the contract and i see that Hilton might try to negotiate a fee to get out of it? So this fee would be on top of the $2300 lawyer fee I'm assuming?

Should i try to call Hilton directly and see what they can do?

I'm not signing the contract until i know my best way out of this.  Any advise will be greatly appreciated!!

[Kree]

I don't think you need a lawyer. I think you need a realtor.

Call Hilton, depending on the specifics of your timeshare, they might buy it back with no penalty.   Usually value goes up over time, so they can offer less than you paid, and resell for more than you paid, so there is a hefty profit.

Or if you have a realtor, and the terms allow for it, you could sell it yourself.  Could get you a higher price than Hilton will offer, but there will be transfer fees, and realtor fees, and things, and takes more time to find a buyer.

[c00mtg]

Thanks!!

I did call Hilton when I posted this and was transfered to the title department. What I will try to do is do a “deed back” which like you said, they’ll buy back.

[ehomeyjr]

Is this going to affect your credit?  I think of “deed in lieu of” when you say deed back.”  Doesn’t a “deed in lieu of” have to be disclosed on a mortgage app?  Or, are these totally different things?

[c00mtg]

From what i read, they're different. Im not sure how that one works.