Looking to give back timeshare / Vistana/Marriott (2024)

I am brand new to this all but am desperate on some advice/help please.

We got coaxed into purchasing a Vistana timeshare exactly a year ago and were BS’d the entire process. I tried to cancel in the 10 day window but they waved an upgrade and free week in my face to get us to stay. Keep in mind we weren’t even told about the 10 day window in the sales presentation, or closing. Day 12 I called to cancel and we were out of our recession. We have not even used the timeshare the whole year. We do not want it or want to pay for it any longer realizing it was a mistake on our end with so many limits to where we can travel and when.
My question is how can we get rid of this? They have a deed-back but can we use that if we’ve only been paying on it for a year? We obv still owe. I haven’t missed any payments, maintenance dues are UTD. Just really looking for a way out that won’t trash my credit. Any advice is much appreciated. Thank you.

Welcome to TUG. Do you have a mortgage on this unit? If so you need to pay it off before you sell or return it. Otherwise you can walk but that will have a high likelihood of trashing your credit.

What exact unit do you own? Resort, season Room type?

Can you rent it out until it is paid off to cover the annual maint fees and mortgage?

CalGalTraveler said:

Welcome to TUG. Do you have a mortgage on this unit? If so you need to pay it off before you sell or return it. Otherwise you can walk but that will have a high likelihood of trashing your credit.

What exact unit do you own? Resort, season Room type?

Can you rent it out until it is paid off to cover the annual maint fees and mortgage?

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How do you rent it out? I have no idea how all of it even works tbh.

Talyn23 said:

It is not paid off unfortunately. We’ve only had it one year. We do travel but just not this way. It’s a Vistana ownership. Sheraton flex, Vistana, etc.
I don’t want to trash our credit so I guess we are stuck with it. I have no idea how to rent it out. Honestly don’t know much about using it either to be honest. Just 350/mo plus $1400 maintenance isn’t what we’re wanting anymore. I know before anyone comes for me “we signed up and are stuck based off our decision” we know! The guy was a great sales guy.

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You need to learn how to use your Sheraton Flex -- go to the Dashboard and use the educational resources. If you fail to pay the loan, that is no different than failing to pay a mortgage on your home, and it will impact your credit. If you fail to pay the maintenance fees, then the ownership will not be able to be used, but it still needs to be paid for. At a minimum, you can get something out of it by using it to take vacations. But it is up to you to figure out how to use it by using the resources available to you.

trexmdr said:

You keep referring to it. Exactly what is “it” that you own. Perhaps I missed it and I’ll reread your posts.
Believe me, and I’m talking from experience, the people in this group will give you the best advice and help you through. You may have to make some hard decisions but you have options and you’ll find them here.

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I appreciate that. I mean ownership when I say it. We purchased points that regenerate every year. 56,300 to be exact. To use on Vistana with Sheraton flex etc

Search TUG for "How to rent your timeshare." You will need to follow @LeslieDet advice on "How to use your timeshare" to book a good Sheraton rental week when the booking window opens. Think Sheraton Steamboat ski week, or Sheraton Desert Oasis for MLB baseball spring training or other event weeks you can book with flex to earn highest rent to pay off your unit faster.

Good luck

CalGalTraveler said:

Search TUG for "How to rent your timeshare." You will need to follow @LeslieDet advice on "How to use your timeshare" to book a good Sheraton rental week when the booking window opens. Think Sheraton Steamboat ski week, or Sheraton Desert Oasis for MLB baseball spring training or other event weeks you can book with flex to earn highest rent to pay off your unit faster.

Good luck

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Thank you very much

@Talyn23

Welcome to TUG.

There is another thread similar to yours in that the person who posted is new to Sheraton Flex. There were several informative posts there that will help you get started.

You need to search for a reservation. See what is available. Where might you want to go. Or select a high-demand date and start learning how to rent.

Come back to ask questions. We can help you understand your ownership and make the best of it.

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TUGgers - I am not familiar with Sheraton Flex

Does @Talyn23 need to be aware of banking deadlines (like June 30, 2024?)

Talyn23 said:

It is not paid off unfortunately. We’ve only had it one year. We do travel but just not this way. It’s a Vistana ownership. Sheraton flex, Vistana, etc.
I don’t want to trash our credit so I guess we are stuck with it. I have no idea how to rent it out. Honestly don’t know much about using it either to be honest. Just 350/mo plus $1400 maintenance isn’t what we’re wanting anymore. I know before anyone comes for me “we signed up and are stuck based off our decision” we know! The guy was a great sales guy.

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It easy to rent on Redweek. Look at redweek.com

rickandcindy23 said:

This was an expensive lesson for you. I am sure you regret your choice, but to get out of it requires some action on your part. I am so sorry you are going through this.

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You’re absolutely right, it really was. So is there ways to get out? Or you mean rent to pay it off quicker etc? Any of those exit programs legit?

HudsHut said:

@Talyn23

Welcome to TUG.

There is another thread similar to yours in that the person who posted is new to Sheraton Flex. There were several informative posts there that will help you get started.

MVC/Sheraton: Completely Lost Newbie

I purchased Marriott/Sheraton Vacation Club last April (I listed both brands because it all seems to be tied together somehow). I can't figure out how any of it works. I have Flex Points (which I think are StarOptions) and Club Points. Some of them are listed as bonus, some are banked. I am...

tugbbs.com

You need to search for a reservation. See what is available. Where might you want to go. Or select a high-demand date and start learning how to rent.

Come back to ask questions. We can help you understand your ownership and make the best of it.

---
TUGgers - I am not familiar with Sheraton Flex

Does @Talyn23 need to be aware of banking deadlines (like June 30, 2024?)

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Wow thank you so much. Everyone is so helpful here. I did bank my points already only because I called to make a payment (bec when they switched over it kicked my auto pay off) the lady told me about banking thank GOD or I would have lost out.

Talyn23 said:

Any of those exit programs legit?

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ZERO.

Talyn23 said:

You’re absolutely right, it really was. So is there ways to get out? Or you mean rent to pay it off quicker etc? Any of those exit programs legit?

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We have never heard of one that was legit. All are designed to get more of your money. Yes, they WILL 'get you out', but at the cost of your credit.

You are in good company. We took a poll some time ago, and found that just about 50% of TUGgers bought their first TS just like you did. From the developer, and waited too long to rescind.

Their decision- and it should be yours, too, is that they saw value to them at the presentation, and bought. Nothing has changed, except they-and you- no longer have the free exit option.

So my advice to you is to buckle down. Pay off the high interest note on what you bought. Work some extra shifts, or take a second job for a while. Then learn how to use what you bought. Rent it, or use it to take the vacations you envisioned at that presentation.

Stick around TUG. We are timeshare USERS. Telling folks the truth about not rescinding when the opportunity is theirs is just part of it.

We know something of what we say.

Jim

Do you have kids? Timeshares are great for families.

We bought our first two timeshares direct and regretted each time, but we learned to use them. That was 42 years ago.

You can buy what you bought basically free via the resale market, and that fact should intrigue you because you can get 2-3X more points for basically free and have something you could use or rent to help pay for that mistake. Not that I think you should buy something resale now, but later on, after you learn the system, resales will be plentiful.