On the Spot / Catharine Hamm

Question: I inherited a two-bedroom, two-bathroom time share in Escondido, and I can have my week as long as I pay the annual maintenance. Because I have family there, I don’t need a place to stay. How can I sell this without incurring additional expense upfront? All the places I’ve read about on the Web want you to pay $500 or more upfront for them to market the unit.

J. Cooper

Lenexa, Kan.

Answer: Cooper is wise. Nothing screams scam like, “I have a buyer waiting to buy your time share for $20,000 and all you have to do is give me your credit card number.”

Here’s what happens in many instances: You give the company your credit card number, you are charged $500 or more and, oh, wait, the deal falls through, but the company will be in touch. You never hear from that company again, but by the time you realize you’ve been duped, you can no longer dispute the charge with your credit card company.

“There’s no secret list of people willing to pay top dollar for your time share — it just doesn’t exist,” said Brian Rogers, owner of Timeshare Users Group, or TUG, which bills itself as the first and largest community of time-share owners.

The practice has become so pervasive that the American Resort Development Assn., which represents the interests of time-share owners, homeowners associations and consumers, is working on crafting legislation that would muzzle these scam outfits.

It is another blow for an industry that has suffered mightily in the recession. In 2008, time-share sales amounted to $9.7 billion, an 8% drop from 2007. The numbers for 2009 aren’t yet in, but Howard Nusbaum, president and chief executive of the resort association, is expecting a decrease of as much as $4 billion for 2009, unheard of for time shares, which have experienced consistent sales growth. It’s also a blow to an industry whose reputation has been rehabbed through stricter regulation. (“We had a colorful past,” Nusbaum said.)

What should you do if you want to sell? You can look at the association’s tips (https://www.arda.org/Content/NavigationMenu/ConsumerInformation/ResaleGuidelines/Resale_Guidelines.htm or go to Timeshare Users Group’s info at https://www.tug2.net/advice/howtosellyourtimeshare.htm. Both have good advice for would-be sellers.

But you should also keep in mind that people are practically giving away time shares just to be out from under the associated fees. Last week on EBay, I found 1,451 sale listings, including a three bedroom in Branson, Mo., starting at a penny. There were properties aplenty from other leading time-share states: South Carolina, California and Hawaii.

Your best bet may be to try to rent the property to cover some of your costs or to donate your week in a charity raffle and ask your accountant whether you can deduct it. (TUG and others often have rentals listed. And as an FYI to bargain-hunting consumers, “The rental market is a fantastic place to find deals better than a hotel room,” Rogers said.)

When it comes to time shares, remember that they’re like owning a car: They depreciate. Some are Yugos, some are BMWs, but none will be worth what you paid for it. Instead, the value is your enjoyment in using it. As with most things in life, there’s a fine line between pleasure and pain.

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