My parents are people who go to timeshare presentations for the free stuff and never fall for the pitch. They have always told me that buying a timeshare at these sales events is a bad idea because of the inflated upfront cost and perpetual maintenance and exchange fees the timeshare companies pile on. It is also quite difficult to sell a timeshare you no longer want because there is usually a giant supply of timeshares on the market. If you do want to get rid of a money sucking timeshare, donating it may be the most economical option.

When you donate your timeshare, you can write off the value of the timeshare on your taxes and get a tax deduction. This detailed FAQ at Donate for a Cause describes the process. It is up to you to decide the fair value of your property and you will be free from that unwanted timeshare without too many worries. You do need to be able to itemize to take advantage of donations and you should check the IRS's rules about non-cash donations. Currently any non-cash donation worth over $5000 need to be verified with a written appraisal.

It is not always true that the tax deduction you receive will be greater than the price you can get for a timeshare on the open market. This really depends on your tax rate and the value of your timeshare, but you definitely save quite a bit of time and energy by just giving the property away. The cost of marketing your timeshare can be quite high because there is so much competition on the market. If you hire a company that helps you list your timeshare, you are usually required to pay a upfront fee that could be quite high. Generally the companies that work for a flat fee do not care how much your timeshare sells for and there are many listings on eBay that are put out by these companies that unload timeshares for as low as a dollar.

Finally, another bonus to donating your unwanted timeshare is that you will be helping someone in need. It is truly a win win situation for everyone involved. The charity gets cash to help people, the buyer of your timeshare gets a discount, and you will no longer have to deal with maintenance fees. If you are not sure where to start, Donate for a Cause is a charity specializing in timeshares and they contribute to a variety of charities. It is also possible that your favorite charities accept timeshares as donations and you can find out by calling or checking out their websites.