Input on timeshare please "Fantasy World Resort"

[ILoveMyGirls]

One of my friends offered to give us their timeshare for week 19 at Fantasy World Resort. She said the fees are about 512.00 a year. She said we would have to go thru settlement, etc.

Can anyone give me any advice on this if we were to decide to accept this?

Thanks.

 

[Ksquared]

Can I ask why your friend is giving it to you?

Do you research first before accepting. Once you agree to take this over, you will be responsible to pay the maintenance fee each year whether you use it or not. Do you go to Disney/Florida once a year? Do you think there are resorts you'd like to trade into??

I've never been to this resort so I can't help you there.

There are so many timeshares in this area and this is not one of the more popular ones. you could probably rent a room at some of the more popular resorts for the same or a little more than what you would pay in maintenance per year with this one.

 

[ILoveMyGirls]

the timeshare was her mom/dads who have both passed away over the past couple of years. non of her siblings or their children want it because it is in Orlando lol. i guess they do not love Disney as much as we do. she knows that we love to go to disney and that we rent off-site due to cost so she is offering to give it to us.

my husband is saying the same thing that you are saying about the 500+ yearly fee as we can rent a two bedroom condo at one of the other places like we are doing next week.

not sure what the benefits to doing this would be.

Can I ask why your friend is giving it to you?

Do you research first before accepting. Once you agree to take this over, you will be responsible to pay the maintenance fee each year whether you use it or not. Do you go to Disney/Florida once a year? Do you think there are resorts you'd like to trade into??

I've never been to this resort so I can't help you there.

There are so many timeshares in this area and this is not one of the more popular ones. you could probably rent a room at some of the more popular resorts for the same or a little more than what you would pay in maintenance per year with this one.

 

[Ksquared]

I'm not sure there is any benefit to you. And if you are like me and like to try different places, then it will cost you more to be able to trade that timeshare into a different location.

Also, you said this was for week 19. I believe that would be sometime in May?? In any event, you are locked into that week each year unless you trade to a different week/location.

Do you go to Disney each year at the same time?

If it were me, I'd politely decline the offer.

 

[ILoveMyGirls]

we go during the same time frames, not sure if that is spring break week or not, i'd hate it if it were, too crowded at the parks. if it is not spring break, may would be a good month to go.

one downside is, i'm handicapped and this is a two story unit. also, i am pooh sized and read one review that said the downstairs shower is really small, not a normal size at all.

 

[iloveokw]

From what you have shared with us I don't think your friend is doing you a favor....she is trying to unload a liability she has on you. This does not sound like a place that will be accessible for you.

 

[ILoveMyGirls]

i think they are giving it away because they can't sell it. we will probably pass on it as it seems rather expensive and i need a one floor condo vs. a two level one.

 

[shelemm]

Also, don't you have to pay property taxes on a timeshare?

 

[ILoveMyGirls]

i'm not sure about the in's and out's like property taxes, i would assume that we would have to. my friend said we would have to hire an attorney to handle the settlement. i had no clue that a settlement would be necessary for a week's timeshare.

it just appears that there is not much benefit in owning a one week timeshare that will cost us over 500 a year for the fee. the 2010 fee has not been paid and they would expect us to pay that even though 2010 is nearly done. if you pay per year it is 587 and in the lower 500's if you pay for three years.

i don't have the money to pay for the three years. i don't want to pay for 2010 as it is almost over. i don't have money to hire an attorney to handle settlement. i looked at the place online and read some reviews, the place doesn't "pop". it has two stories, i am handicapped, i need one floor.

i wrote her and told her that we need to pass on it given all of the reasons i stated above.

 

[swilshire]

Owning timeshares in states other than where you reside can force your heirs to file probate in the other state. I need to get all of mine into a trust to avoid that.

Transferring a timeshare from one owner to another can be as cheap as a few dollars to hundreds, depending on how you do it and whether the resort charges transfer fees.

Typically the annual maintenance fees include your property taxes. Only a few states bill them separately to the owners.

Sheila

 

[ILoveMyGirls]

do you think the parents must not have put it in to a trust if they are trying to give it away?

 

[jksgrammy]

Even though we own 2 weeks at this timeshare, I would advise against you "taking" this. If they haven't paid the 2010 maintenance fee yet (would have been $586), there are "late fees" that have already been imposed on this week. Annual maintenance fees are due the first of the year, and I think late fees start being charged if you haven't paid by Feb. 1st. Also, there was a $1500 "special assessment" that was charged to owners last year and if they haven't paid that yet, you would be responsible for that before you'd ever be allowed in the unit.

The resort is in the process of building a brand new lazy river/pool area that will be very nice when completed, but that's not projected to be done until late fall 2011.

And you are correct in that the units are 2 stories (think townhouse) with the bedrooms being upstairs, as well as the larger bathroom, and the stackable washer/dryer. You are also correct in that the bathroom on the first floor is VERY tiny.

I don't mean to sound "doom and gloom" about this resort/timeshare units. We use our two weeks every year (during off season) and bought our weeks off ebay at a ridiculously low price 4 years ago. In fact, we are heading there tomorrow for a weeks stay and to go to WDW.

Feel free to PM me if you have any further questions, but this "deal" doesn't sound good at all for you.

 

[ILoveMyGirls]

wow, a 1500.00 assessment fee, wow. also, late fees, wow. i can't afford this at all. we can hardly afford our upcoming trip.

 

[dyna]

We rented a townhouse at Fantasy World a couple of yrs ago for like 10 days. Our rental was across the street from main pool but had it's own smaller pool that I used. Our unit did have stacking washer an dryer in downstairs bath the bath was also very tiny esp the shower...Dh an I enjoy 2 nice big showers or tub/shower combos we can save time an both shower at once.

In walking thru the resort at the time we stayed there I saw nothing resort like about Fantasy World. When we was there I saw whole buildings that was in the process of being renovacated there was piles of old carpet laying in parking lot wet an molding there to attract things like snakes an rats an other unwanted neighbors it looked like the carpets an other debri had been left laying there for months.

Like I said It's been a couple of yrs since we was there ......it might be better now. Since we was there we have found other much nicer places to stay for about the same money or even less.

OH or unit we rented was not a time share some of the townhomes are out right owned.

 

[magiroux]

I agree with others. Just look on eBay and see how many timeshares are being offered for a penny that have no takers. Absolutely no benefit for you since Orlando is so overbuilt with timeshares you can probably rent a comparable condo/house for the same price without the hassle of owning. Also, if you wanted to trade it, it would not only cost you extra but since May is such a low demand season your options would be very limited. Sounds like your friend is trying to dump this any way they can.

 

[ILoveMyGirls]

I really appreciate all of the input as it verifies what we are thinking. I know they are in the process of building a lazy river. I know that there is a late fee of 48.00 that my friend is going to pay. I know that there is an outstanding 1500.00 bill that needs to be paid that was not paid in 2010 plus the fee for 2010 that has not been paid yet. Too much for us to handle. We rented a 2-bedroom condo for 502.00 for a week and as prev. posters stated, we don't have the hassle of owning it.

 

[Ksquared]

I think you made a good decision

 

[ILoveMyGirls]

I really appreciate everyone's help.