- Never use
- Can't get reservations for
- Can't sell, even after paying up-front listing fees
- Are STILL paying maintenance fees for?
THE ADVANTAGES OF DONATING
Absolutely No Up Front Fees: Charities do not charge a fee when you donate a timeshare.
Save Time: Selling a timeshare on your own can take a lot of time and energy. This means that you don't have to continue to pay maintenance fees, taxes and special assessments while the timeshare sits on the market.
Tax Write-off: In many cases, donating your timeshare will net you more proceeds than trying to resell. This is because you will be able to claim the fair market value of the timeshare against your taxes.
Few Hassles: Since we take of the transfer process and paperwork for you, the hassles of taking care of this on your own are solved.
We are not a listing or marketing company, and we offer 100% guarantee to help you get rid of your timeshare. In the event that your timeshare does not qualify for a donation, we can offer you an alternative which is a listing for a liquidation sale.
THE ADVANTAGES OF LIQUIDATION
Absolutely No Up Front Fees: We will provide a free listing for liquidation which will be offered to all the National Brokers and Travel Clubs so they can make cash offers for your timeshare. These offers vary on a case by case scenario. You could net a few dollars, break even, or pitch in some fees to liquidate. IMPORTANT NOTE: Whatever your offer is, Donate Timeshare Online will NEVER charge ANYTHING upfront. If your offer requires a payment from you, it will be collected at CLOSING.
Save Time: The liquidation option guarantees maximum exposure to parties that are familiar with your timeshare. This ensures you will have the fastest turn-around time possible to receive offers.
Few Hassles: You will start to receive cash offers for your timeshare in as little as 48 hours. All offers are provided in the form of a written purchase contract.
Release of Liability: We understand that ultimately, you want to be released from your obligations like maintenance fees, special assessments and club dues. Not only will your transaction be handled by a licensed, bonded and insured Closing Company, we will provide copies of all documents, and a closing statement for your records.
To get started with either option, you will need the following information to ensure a smooth transfer:
You are allowed to deduct the "Fair Market Value" of the timeshare on your taxes if you itemize your tax return. Once the transfer of ownership to the charity is complete, your chosen charity will send you a receipt as proof of your donation. The receipt usually will not have a value on it - the fair market value is determined by you and your tax preparer, but you must get an appraisal for the timeshare if you decide to claim the fair market value of the timeshare above $5,000. Note that appraisals for timeshares can be quite expensive with most costing more than $500. If you need to get an appraisal for tax purposes, get it in writing that the appraiser will guarantee their appraisal amount for the timeshare in tax court. You can read more information regarding charitable donations at the IRS Website.
Timeshare owners also frequently want to know if they can donate the use of the timeshare for one week to charity. This tax question usually arises when for some reason the timeshare owner is unable to use or rent out their week and will lose it. Unfortunately, the Internal Revenue Service doesn't allow a deduction for a gift of "right to use" Rental.
Donation Process:
- Name, address, and phone number of the resort
- Deed or certificate
- Contract or membership agreement
- Financing agreement, if you're still paying for the property
- Information to identify your interest or membership
- Exchange company affiliation
- Amount and due date of your maintenance fee
- Amount of real estate taxes, if billed separately
You are allowed to deduct the "Fair Market Value" of the timeshare on your taxes if you itemize your tax return. Once the transfer of ownership to the charity is complete, your chosen charity will send you a receipt as proof of your donation. The receipt usually will not have a value on it - the fair market value is determined by you and your tax preparer, but you must get an appraisal for the timeshare if you decide to claim the fair market value of the timeshare above $5,000. Note that appraisals for timeshares can be quite expensive with most costing more than $500. If you need to get an appraisal for tax purposes, get it in writing that the appraiser will guarantee their appraisal amount for the timeshare in tax court. You can read more information regarding charitable donations at the IRS Website.
Timeshare owners also frequently want to know if they can donate the use of the timeshare for one week to charity. This tax question usually arises when for some reason the timeshare owner is unable to use or rent out their week and will lose it. Unfortunately, the Internal Revenue Service doesn't allow a deduction for a gift of "right to use" Rental.
Donation Process:
- The donor submits the donation form on our website, or calls us to help at (510) 744-1875.
- Print the Consent and Donation Agreement from the
Forms
section of our website, fill out and fax to us at 510-574-0786 (or scan and email back to info@donatetimeshareonline.com).
- Our closing company will then contact you within a few business days to start the donation and the transfer process.
- Once the transfer is complete, you will receive your receipt from the charitable organization.
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