This year I decided not to pay the maintenance fee of our time share at the Ridge, Lake Tahoe due last January. The resort will sell it this July and my return will be only $675. The maintenance fee is $1079. For the last months I have been receiving E-mail from the resort collection department urging me to pay. The bill is currently $1127 because of penalty. I wrote the Collector I have no intention in paying it. She told me the resort will not sell my timeshare if my dues are not current. If this is true, I will just let it default. I will sell the time share to any one interested and willing to pay the maintenance fee. Attached is an article I wrote about two years ago.
Macrine and I finally decided to sell our timeshare at the Ridge in Tahoe, Nevada. For the last three years, we have not been able to use it, so we just rent it. Renting gives me a little income but not enough to pay for the annual fees of over a $1000. This maintenance fees goes higher every year. My children are not interested in it.
My first action was to read all about reselling your timeshare. There are several scams and companies who are in this business. The following video summarizes the pitfalls of sellers of timeshare whose value has gone down to almost zero and if you are lucky you may be able to sell it for at least 1% of the original price of your purchase. Never pay an upfront fee is what I learned from my readings in the Internet
The second thing I did was to talk to the Ridge and inquire what I have to do to sell my time share. I was told I have to list it with them and wait from 12 to 15 months for a buyer. The money I will received will be only $675 net. I was expecting more value, but I have no choice. We purchased the time share 20 years ago for $15,000 which has been fully paid ten years ago. The maintenance fee started at $100 annually.
The Ridge Representative, informed me I could try selling it myself, but I must be aware of SCAMS. She told me never pay an upfront fee to anyone who promised to sell your timeshare for more than it is worth.
Our time share is a 2-bedroom with lock out. It can accommodate from 6 to 8. It is in the Plaza 2 unit of the Ridge at Tahoe, in the State of Nevada. The website of the Ridge is www.ridgetahoeresort.com (see photo above).
If you are interested, I will entertain any offers greater than $675.