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Timeshare Resale Companies Over Promise and Under Deliver

Timeshare Resale Companies Over Promise and Under Deliver
24 Jul 2012
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Autor Admin
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An everyday story in the timeshare resale industry

Telemarketers called a Colorado man with dementia and got him to spend thousands.

They called a California resident, drowsy on pain pills and dying of cancer, and charged hundreds.

They called a desperate Kentucky man as his house was foreclosed, and took his life savings.

This is an every day story in industry -specifically Florida-, telemarketers dial timeshare owners from behind blacked-out windows avoiding public view.

They promise that for a fee, upfront of  course, they can achieve the impossible dream: Sell an unwanted timeshare. There are claims there is other buyer on the line and explain methods that induce clients to believe it is a guaranteed sale.

Owners hoping to sell their timeshares and avoid future maintenance fees trust foreigners and get nothing in return.

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Timeshare Resale companies Analysis

The Tampa Bay Times reviewed thousands of complaints and spent months investigating timeshare resale companies; this is some of what they found:

Timeshare resale schemes have become the most rampant form of consumer fraud in the south-eastern of US.

Florida AG received 964 complaints against Timeshare resale companies in 2008. Then, 2,929 in 2009. then, 12,257 in 2010.

The department renewed license for timeshare resale that were fined or accused of fraud by timeshare owners.

The resale of a timeshare is a legitimate business. Companies agree to advertise a timeshare for a fee on their websites. As with advertising, the membership doesn´t need to sell in order the fees to be legitimate.

The difference between an honest timeshare resale company and a scam, is when the company falsely suggest they have a buyer waiting for their timeshare, or picture unrealistic, overoptimistic selling possibilities.

Since the 70s, many Americans have ben swayed by timeshare sales pitch: Own a week here and never worry about vacations again.

For as long as timeshares have been sold, owners have tried unsuccesfully to sell them. Timeshares are not investments, they are purchases and therefore, do not increase in value over time. Their initial prices are inflated by marketing expenses and their value collape after the purchase.

Timeshare resale market is so poor, you can get them on eBay for free; owners are willing to pay the transfer fees. They just want someone to take over their maintenance fees.

A financial expert said: "timeshare ownership is a trap from which there is no exit."

Timeshare resale companies have used this to their advantage. They know owners are desperate to sell their unwanted timeshares and act upon.

Victims: on the thousands.

timeshare victims

In June 2012, a woman in a humid, air conditioned office in Vallarta, Mexico, called a 57-year-old semi retired paralegal and mother of two kids in college named Megan Weinsorgh.

Weinsorgh owns two timeshares, one in Mexico and the other one in Florida. she spends roughly $1,400 yearly on maintenance fees for timeshares she can´t use regularly.

The woman said her name was Jennifer Watson, He worked for Sierra Resales and said he had a client interested in both her timeshares.

The catch: Watson asked for $3,500 on transfer fees.

Megan questioned the woman. She didn´t have the money and was hesitant to use her credit card. Watson assured her the proceedings from the sales would be coming in less than a week after payment was made.

That was the last time Weinsorgh spoke to Watson. Calls were unanswered.

This story repeats itself -with different names- almost 40,000 since 2008 across America.

Timeshare scams are cyclical. They are increased during tough economic times. The only way to prevent this is educating timeshare owners.

Possible solutions

timeshare solutions

The only effective way to get rid of a timeshare and prevent yourself from future maintenance fees, the risk of being scammed by one of these companies is by cancelling your timeshare.

Timeshares are expenses the only possible way to get any money back from a timeshare is by cancelling it and recover your deposit.

Can this be performed in all cases? "No, but if there is a way to recover our client´s money I will sure find it." timeshare cancellation expert says.

If you are tired of owning a timeshare that does not suit your travel needs, is no longer affordable to you or you simply don´t want it anymore, contact Mexican Timeshare Solutions for a free consultation on how we can help you cancel your timeshare and reinstate the financial freedom you need.

Information to share

If you liked this article, please help us to share this information to more people in order to avoid more timeshare scams victims, how?

  • Share this link http://www.timesharescam.com/blog/92-timeshare-resale-companies-analysis/ on your favorite blogs and forums

 

Leave your comment below and share your opinion with us. To know more about timeshare scams go to: Timeshare For sale by Owner

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17 Comments
  • AnonymousJuly 28, 2014, 9:23 am

    Been caught there before. The annual evaluation of weeks this time of year can change the previous value of a week that you deposit. Could go up, down or stay the same by the time it gets verified. Weeks get revalued every year, both deposit value and exchange value required.

  • HeirsJuly 11, 2014, 2:23 pm

    Until recently, my wife and I had owned a time share. We stopped paying the maintenance fee last year because we are scaling back our traveling.

    I offered a deed in lieu but it was not accepted, so we gift-deeded the property to an individual hoping to avert any further billings of the maintenance fee.

    Because we are senior citizens and own our home free and clear, we are not concerned about credit ratings.

    Do you see a problem with this method of letting the time share go?

  • HeirsJuly 11, 2014, 2:23 pm

    Until recently, my wife and I had owned a time share. We stopped paying the maintenance fee last year because we are scaling back our traveling.

    I offered a deed in lieu but it was not accepted, so we gift-deeded the property to an individual hoping to avert any further billings of the maintenance fee.

    Because we are senior citizens and own our home free and clear, we are not concerned about credit ratings.

    Do you see a problem with this method of letting the time share go?

  • RobertJune 30, 2014, 2:56 pm

    Thanks for spelling out the costs and risks of a timeshare. I’ve always heard they are bad investments, but never really the details of them.

  • LaurenJune 12, 2014, 11:27 am

    I agree. Everyone but the sales person gets to kind of play “good cop” but they’re a part of the horribly unpleasant customer experience. I know we all need a job but that’s not one that I think I could stomach!

  • LaurenJune 12, 2014, 11:27 am

    I agree. Everyone but the sales person gets to kind of play “good cop” but they’re a part of the horribly unpleasant customer experience. I know we all need a job but that’s not one that I think I could stomach!

  • slacayo29June 9, 2014, 8:05 am

    I have been getting numerous calls in reference to try to sell me timeshare and other issues even though I am listed in your DO NOT CALL REGISTRY FOR MORE THAN 120 Days. How can I forward you a copy of one of the e-mails that I am receiving without my consent/authorization. Please provide me with an e-mail address to send the scam e-mail to them. Thanks for your cooperation.

  • Carmen FoyMarzo 6, 2014, 12:11 pm

    My poor mother who is 61 years old, just fell for the timeshare scam. The company was International Financial Management. She has lost $3,000. We live in SC and some of the call were supposedly from Florida and Washington, DC. They had a “legit” website that said they had been in business since 1947. I was wanting to know, where is the FIRST step we need to go in maybe getting her money back…..So sad that people would do this!
    Thanks.

  • Alex EsquireJanuary 28, 2014, 4:58 pm

    I want to get out of my timeshare contract. What can the do to me if I just refuse to pay?

  • SarahiJanuary 21, 2014, 11:16 am

    es un problema muy viejo, nos llenan de palabras bonitas, que todo sera perfecto, nos dicen que hay promociones, que es la inversion de nuestra vida y al final, nucna sucede nada, estoy cansada de pagar por ese error!!!!!

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