Many of the timeshare donations we receive are from repeat donors or referrals from past timeshare donation donors. They don’t need a Timeshare Glossary. They have been through it all, and they know we deliver. Timeshare donors just getting started with the timeshare disposal process usually take three to five years to conclude that charitable timeshare donation is their best solution even without a tax benefit.
Donors typically start by spending $500 to $700 per year to list their timeshare with a listing agent. There is at best a 1 in 1,000 change of selling a timeshare in this manner according to a recent broker survey. With online auction and shopping websites, the odds are much worse, and it takes significant personal time and effort. All the while you are still paying the maintenance fee, whether or not you use the timeshare. Donating timeshare may solve all these problems.
Then donors attend a seminar or webinar where a specialist will offer to take over their timeshare disposal for $3,000 to $5,000 without a tax benefit. Finally, they check out charities only to find that there are very few reputable 501(c)(3) charities who still accept timeshare donations. Those that do typically charge a flat upfront fee. Transferring a timeshare is a specialized and costly real estate transaction because the resort plays such a central role in the transfer. The charity will incur costs but may receive no funding whatsoever for the timeshare itself.
If it sounds too good to be true, it probably is. There are a few organizations that claim to accept timeshare donations on a tax-deductible, direct transfer basis, and with no upfront fees. Please look at the fine print disclaimers and consider the inconsistencies in what they are offering before taking the plunge with one of these operators.
- First warning sign: what is initially presented as a guaranteed transfer with no upfront fee, in reality, requires a non-refundable fee well before the transfer is completed. Not only that, the transfer is contingent on finding a buyer – sometimes in as little as four weeks – or there is no transfer at all.
- Second warning sign: what is made to look like a charitable contribution to appear comparable to a reputable 501(c)(3) charity is nothing of the sort. This calls into question the legitimacy of the entire transfer. You may read or hear that the “charity of your choice” will benefit from your donation. How and when?
- Third warning sign: claims that transfers are quickly completed within 4-8 weeks or even as few as 2-3 weeks hints that key steps in the transfer process, such as prearranging the transfer with the resort, are missing. In the end, you may still be responsible for the maintenance fees even if the deed is transferred quitclaim.
Florida Veterans helps you make the best of a difficult situation, and we offer a fresh and truly different approach to timeshare disposal. We research each timeshare donation request individually, and keep donation costs (if any), to a minimum, depending on the timeshare and transfer method selected. Where donation costs are involved, we even offer a deferred payment option. Although the program funding we receive varies, as a general rule 35 percent of the proceeds from each timeshare donation goes to program services after covering our direct costs and overhead. You are helping our veterans with each donation.
When all facets of your timeshare transfer are completed we send you the appropriate tax documentation (most US taxpayers can deduct up to $5,000 for a timeshare donation without needing an independent appraisal). No more timeshare, no more maintenance fees. It is that simple. Also by donating a timeshare, you are supporting U.S. veterans and their families.
We have been accepting timeshare donation for a long time and are very confident in our approach. We will gladly match or beat any legitimate, comparable direct deed transfer offer you may receive from another reputable organization. We will gladly match or beat any legitimate, comparable direct deed transfer offer you may receive from another reputable organization. Donating timeshare with Florida Veterans Assistant Associations is fast, easy and secure.