Getting rid of a time share.

The biggest propblem with buying a timeshare, is selling them. They hold no value because of people selling them on e-bay for $1.00 The money lost from buying a timeshare is bigger then taking a new car off the lot. At least someone out there will at least by the car for a minor loss to you. Stayig at a resort, and not a small hotel for a few dollars more a night is a good thing when you have a family. The good thing about timeshare is you can exchange. One year in Orlando, the next at the beach somewhere. The problem with the timeshare market is, you can buy them anywhere, you just can't sell them anywhere. And with so many people willing to give there weeks away for a $1.00, the market will never turn around. Also, it's not considered real estate. If it was, that might help keep some of the value. The funny thing is, when you go to listen to a timeshare speech, they try to show you how much money you have "wasted" by staying in hotels and other places on vacation. They also try to state that timeshares hold there value. I guess when they are not at work selling timeshares for $15,000-25,000, they don't visit e-bay and see what they are selling to us today, is sold for $1.00 only a few years later. By the way, I have a few nice timeshares to sell if anyone is interested... but not for a dollar, but I might take $2.00

I agree, it's a shame so many timeshares are listed on Ebay for $1. I used to check Ebay's timeshares most every day, but had not checked them in a while until recently. I think the main problem is the explosion of new timeshare resorts being built all over the place. In my opinion, there's beginning to be a glut of timeshare resorts. They're not an anomaly any longer except to those folks that get accosted while on vacation and talked into a presentation for money, free tickets or whatever. Timeshare salespeople are VERY good at what they do and they catch you unaware when you're in a very positive frame of mind (vacation).

Many people get hooked into buying a timeshare from the developer not realizing there is a resale market and then when they get tired of paying maintenance fees or can't use the timeshare any longer they have to practically give it away. The same can be said of resales for the same reasons except the price (or loss) is much lower.

As I have stated many times before in this forum, the ONLY reason (in my opinion) to buy a timeshare (even resale) is if you can vacation only during certain times such as red hot summer season in popular areas (re: teachers, parents with children in school etc.), holidays, winter ski season or if you want a unit at a certain resort, in a certain location (re: beachfront) at a certain time of year. Most other times of the year you can find rentals everywhere on the internet .... Ebay, Skyauction, Redweek and a multitude of other internet rental sites.

kevins118 wrote:

The biggest propblem with buying a timeshare, is selling them. They hold no value because of people selling them on e-bay for $1.00 The money lost from buying a timeshare is bigger then taking a new car off the lot. At least someone out there will at least by the car for a minor loss to you. Stayig at a resort, and not a small hotel for a few dollars more a night is a good thing when you have a family. The good thing about timeshare is you can exchange. One year in Orlando, the next at the beach somewhere. The problem with the timeshare market is, you can buy them anywhere, you just can't sell them anywhere. And with so many people willing to give there weeks away for a $1.00, the market will never turn around. Also, it's not considered real estate. If it was, that might help keep some of the value. The funny thing is, when you go to listen to a timeshare speech, they try to show you how much money you have "wasted" by staying in hotels and other places on vacation. They also try to state that timeshares hold there value. I guess when they are not at work selling timeshares for $15,000-25,000, they don't visit e-bay and see what they are selling to us today, is sold for $1.00 only a few years later. By the way, I have a few nice timeshares to sell if anyone is interested... but not for a dollar, but I might take $2.00

Kevins118

The big difference is you can drive the car everyday and not seven days a year or every other year! ======================================

I would be shocked to find most of these companies ever transfer the condo into their name! I have heard stories of people doing this and few years later being sued because of back maintenance fee's and taxes because the company never sold and would not pay these fee's! Also the idea of paying some of these charities a large fee is no different than paying these scamming postcard companies. Donating should not mean paying some of these charities to sell your condo. Donation means your giving to a good cause. Of coarse this is just my opinion!

PHILL12

So if Timeshare Relief is selling properties that list for a $1 on eBay then it makes sense that they would charge a fee to take a property off of someone's hands right? Here's my thinking based on what's being said here. Tell me if I'm off base. Timeshare Relief acquires a property and charges a fee in doing so. Then, as claimed here they list the property on eBay for a $1. It sits for how long? Days, weeks, months, years? Whatever maintenance fees are due continue to be due but now they are Timeshare Relief's responsibility. So, if a property doesn't sell then that fee or some portion thereof covers these costs. In the end, how much of a profit do they turn? Obviously some - they are a business after all and that's what businesses do. We can't fault them for running a business. The question is, is the the fee they charge so completely unreasonable? Under the circumstances described, not really. Like any business there are associated costs. In this case, some of them quite high. Am I wrong?

I don't care for this practice of sticking it to people for what ever reason they need to get out. I would agree that there is a need for this type of company. I feel that most of the people they deal with have themselves in a tight spot and need help. I just think charging some poor family $3500 or what ever is just taking advantage because they know owner's have no way out. Throw a drowning man a rope and he will grab on.

I could see them taking $1000 because for many of these timeshares this would be two years of the maintenance fee but there just screwing people with their high amount and they know it! There is nothing wrong with companies like these making a profit because that is what they are in business to do just like other companies. They are just being greedy and want to make a killing not just a profit!

Many posters brag that they own many units and rent/sell all the time and its no big deal. But there are thousands of owners out there that do not know how and spend years paying because they just do not know a way out! Before I would ever pay these parasites $3500 to take my timeshare I would ask if anyone would take it free or then offer some money like two years of maintenance fee cost for someone to take it. This way after the closing fee's paid by new owner they would have two years of use or two years of exchange time. If the timeshare you own is not one of the higher rated resorts you might offer free and you pay all closing cost plus that first years maintenance fee. You are still way under $3500 you were willing to throw away.

I have said this before that if you ran a ad and said you owned a two bedroom at blank resort and would give it away free that someone would talk to you! If you are thinking of paying $3500 then this would be a savings!

PHILL12

Actually timeshares ARE considered real estate since you hold the deed to the unit for one week each and every year. However, timeshares are not considered traditional real estate since most traditional real estate appreciates (or holds it's value) where 99% of timeshares depreciate in value (especially developer bought). This is one reason that major lending institutions will not make loans for timeshares. Timeshares are considered a liability.

kevins118 wrote:

Also, it's not considered real estate. !

Phil,

Kudos to you for puttng it so well!!! You think they would learn by now.

If every time they post here looking for "innocents" they get slammed with the truth, as they do on the TUG2 site, maybe they will eventually learn and give up posting.

John

The rest of the story. I am the guy that asked the first question, How to get rid of a timeshare. We just returned from our time share in Florida. I went into the office and asked why I should pay a matainance fee of $1,265.00 on a week on a timeshare that I can't give away and I have tried. Or why I should give Sunterra $8,000.00, so they will give me 12000 points and pick up my matainance fees. (This is what they presented at what I was told was to be the owners meeting and not a sales presentation.) In the futurer than my fees will be only just over $1,000.00 for all the points and as all of know I will be able to probley get 4 weeks or more a year use if I convert to points and use them right. I don't want more timeshare time thank you. I have four weeks now. Here is what the manager at my timeshare told me why the need for the huge matainance fees. It seems that 20% of the weeks are not paying and because of the large deficit the people that pay have to bring the books up to date on the units that are not paying. Than when the 20% of the units are payed up and repossesed "Sunterra will take over the title and keep paying the maintainance fees. This sounds like in my opinion that Sunterra will be getting free units to sell more points on. Sunterra is building new units from the ground up just to sell points on and here they are just taking over these weeks after the loyal owners have paid till it hurts to clear the books on the defunct units. This has a funny smell to it. We haved owned these weeks for over 10 years and have always paid on time. Now it is our problem to pick up the deliquesce. I always felt that this resort was poorly managed but than what can one owner of two weeks do 1500 miles away. $1,268 per week in this resort amounts to over $65,000.00 Per unit week. I think you could build them new for that.

Sunterra does not have a good reputation. They have been in or on the brink of bankruptcy many times. There are major problems in their Europe based operation involving allegations of fraud and other criminal activity. They almost ran a great resort in Ft. Lauderdale into the ground during the few years they managed it. VRI has since acquired it and has turned it into a first class resort after spending millions of dollars on neglected maintenance and new upgrades.

For a lot more information, go to the Timeshare Users Group www.tug2.net and read all the posts on the Points Based Systems forum.

redbird wrote:

The rest of the story. I am the guy that asked the first question, How to get rid of a timeshare. We just returned from our time share in Florida. I went into the office and asked why I should pay a matainance fee of $1,265.00 on a week on a timeshare that I can't give away and I have tried. Or why I should give Sunterra $8,000.00, so they will give me 12000 points and pick up my matainance fees. (This is what they presented at what I was told was to be the owners meeting and not a sales presentation.) In the futurer than my fees will be only just over $1,000.00 for all the points and as all of know I will be able to probley get 4 weeks or more a year use if I convert to points and use them right. I don't want more timeshare time thank you. I have four weeks now. Here is what the manager at my timeshare told me why the need for the huge matainance fees. It seems that 20% of the weeks are not paying and because of the large deficit the people that pay have to bring the books up to date on the units that are not paying. Than when the 20% of the units are payed up and repossesed "Sunterra will take over the title and keep paying the maintainance fees. This sounds like in my opinion that Sunterra will be getting free units to sell more points on. Sunterra is building new units from the ground up just to sell points on and here they are just taking over these weeks after the loyal owners have paid till it hurts to clear the books on the defunct units. This has a funny smell to it. We haved owned these weeks for over 10 years and have always paid on time. Now it is our problem to pick up the deliquesce. I always felt that this resort was poorly managed but than what can one owner of two weeks do 1500 miles away. $1,268 per week in this resort amounts to over $65,000.00 Per unit week. I think you could build them new for that.

To whoever said TUG was a bunch of insiders, insinuating they are trying to deceive someone here, that is not the case. TUG stands for Timeshare Users Group. That is US. Anyone can join for a very nominal yearly fee, and there are great benefits to being a member as someone pointed out above. I am not currently a member, but was for one year, and saw the MANY benefits. One of the most important for everyone here that has been ripped off is the education provided on their site, such as Resort Reviews, etc... This will help future owners know where to buy, and where NOT to buy. One very important thing someone mentioned is that most of us bought our first timeshare from one of those high pressure salespeople, but then found the resale market out there. Resale timeshares 'can be' a very good thing, IF you know what you are buying, and don't overpay. I own several weeks and have only overpaid for maybe 2 of them, the ones I bought directly from the Resorts!

phill12

elsas3 wrote:

I do not care for this practice of sticking it to people for what ever reason needed to get out. I would agree that there is a need for this type of company.

I feel that most of the people you deal with have themselves in a tight spot and need help.

I just think charging some poor family $3500 or what ever is just piling it on because you know they have no way out. Throw a drowning man a rope and he will grab on.

I could see you taking $1000 because for many of these timeshares this would be three years of mf's but your just screwing people with your high amount and you know it!

There is nothing wrong with companies like yours making a profit because that is what your here to do just like Redweek and other sites. You are just being plain greedy and want to make a killing not just a profit!

What is setting everyone off here is the fact your taking advantage of people in a bind or to be blunt"just not to smart" and these people have already been shafted by sales people then you people rush in like sharks.

What is so hard for people on here to understand is that people renting and selling timeshares know what their doing and this is find. Many of us could rent or sell but really just do not know how to do it. Many posters on here brag that they own many units and rent/sell all the time and its no big deal. But there are thousands of owners out there that do not know how and spend years paying because they just do not know a way out!

When I get ready to sell I will give one of you people that sell all the time and state"Its no big deal" A $500.00 commission to sell my timeshare!

I really don't see the point of you selling on e-bay for a dollar and it bothering me because if I needed you and was out from under the timeshare then I couldn't care less what you do with it just be fair about it and stop screwing people to do it.

As they say in the big world this is just IMHO and I'm sure I will be told off for it on here.

Um, I'm not selling anything on ebay or anywhere else. I'm not sure where that idea came from but I'm not a timeshare sales person or a Timeshare Relief rep or whatever you seem to think I am. Just because I have a dissenting opinion - and a pretty tame one I might add - does not associate me with an organization so let's just clear the air on that.

I don't understand the emotional response honestly. I just pointed out that there are costs associated with Timeshares that get acquired by Timeshare Relief. No one can argue that. It's just the truth. It doesn't align me with anyone. It's a statement of fact. If I tell you the temperature outside is 50 degrees and it is in fact 50 degrees does that make me the local weather man? Jeez, people. I think it might do everyone well to relax and talk about this with a little less emotion and a little more logic. Including the kind that evaluates the opposing argument.

Now, that said... what is about timesharing that necessitates a company like Timeshare Relief? They obviously answer a need and one that a good many people seem to have. Everyone is quick to damn them but why do they exist in the first place? What is it about timesharing that brings us Timeshare Relief?

Great question Elisa....

What is it about some city sidewalks that brings us three card monte dealers, society must have a need.

What is it about some corporations that exports american jobs overseas and devestates whole communities. Those people must have needed time off.

What is it about strip mining that leaves permanent scars on the earth's surface? Those trees wanted to go.

Your logic that if it exists there must be a logical need is flawed at best.

It is just another way to make a fast buck at the expense of the little guy. THAT's why everyone here gets a little emotional. Our upbringings and experiences in timeshare ownership make us cringe every time we see another "innocent" get "taken".

Sure they probably conduct themselves within the laws of man, what would God say?

elsas3

phill12 wrote:

elsas3 wrote:

I do not care for this practice of sticking it to people for what ever reason needed to get out. I would agree that there is a need for this type of company.

I feel that most of the people you deal with have themselves in a tight spot and need help.

I just think charging some poor family $3500 or what ever is just piling it on because you know they have no way out. Throw a drowning man a rope and he will grab on.

I could see you taking $1000 because for many of these timeshares this would be three years of mf's but your just screwing people with your high amount and you know it!

There is nothing wrong with companies like yours making a profit because that is what your here to do just like Redweek and other sites. You are just being plain greedy and want to make a killing not just a profit!

What is setting everyone off here is the fact your taking advantage of people in a bind or to be blunt"just not to smart" and these people have already been shafted by sales people then you people rush in like sharks.

What is so hard for people on here to understand is that people renting and selling timeshares know what their doing and this is find. Many of us could rent or sell but really just do not know how to do it. Many posters on here brag that they own many units and rent/sell all the time and its no big deal. But there are thousands of owners out there that do not know how and spend years paying because they just do not know a way out!

When I get ready to sell I will give one of you people that sell all the time and state"Its no big deal" A $500.00 commission to sell my timeshare!

I really don't see the point of you selling on e-bay for a dollar and it bothering me because if I needed you and was out from under the timeshare then I couldn't care less what you do with it just be fair about it and stop screwing people to do it.

As they say in the big world this is just IMHO and I'm sure I will be told off for it on here.

Um, I'm not selling anything on ebay or anywhere else. I'm not sure where that idea came from but I'm not a timeshare sales person or a Timeshare Relief rep or whatever you seem to think I am. Just because I have a dissenting opinion - and a pretty tame one I might add - does not associate me with an organization so let's just clear the air on that.

I don't understand the emotional response honestly. I just pointed out that there are costs associated with Timeshares that get acquired by Timeshare Relief. No one can argue that. It's just the truth. It doesn't align me with anyone. It's a statement of fact. If I tell you the temperature outside is 50 degrees and it is in fact 50 degrees does that make me the local weather man? Jeez, people. I think it might do everyone well to relax and talk about this with a little less emotion and a little more logic. Including the kind that evaluates the opposing argument.

Now, that said... what is about timesharing that necessitates a company like Timeshare Relief? They obviously answer a need and one that a good many people seem to have. Everyone is quick to damn them but why do they exist in the first place? What is it about timesharing that brings us Timeshare Relief?

John, I couldn't have said it better myself.

Hey Elsa I'll take your timeshare off your hands for $3500 then turn around and sell it on Redweek or Ebay for $1.00 .... making a huge profit of $3499 minus the cost of listing on Redweek and Ebay.

What these kinds of companies do is maike timesharing an even dirtier word than it already is by taking advantage of desperate people.

john1671 wrote:

Great question Elisa....

What is it about some city sidewalks that brings us three card monte dealers, society must have a need.

What is it about some corporations that exports american jobs overseas and devestates whole communities. Those people must have needed time off.

What is it about strip mining that leaves permanent scars on the earth's surface? Those trees wanted to go.

Your logic that if it exists there must be a logical need is flawed at best.

It is just another way to make a fast buck at the expense of the little guy. THAT's why everyone here gets a little emotional. Our upbringings and experiences in timeshare ownership make us cringe every time we see another "innocent" get "taken".

Sure they probably conduct themselves within the laws of man, what would God say?

jayjay wrote:

John, I couldn't have said it better myself.

Hey Elsa I'll take your timeshare off your hands for $3500 then turn around and sell it on Redweek or Ebay for $1.00 .... making a huge profit of $3499 minus the cost of listing on Redweek and Ebay.

What these kinds of companies do is maike timesharing an even dirtier word than it already is by taking advantage of desperate people.

john1671 wrote:

Great question Elisa....

What is it about some city sidewalks that brings us three card monte dealers, society must have a need.

What is it about some corporations that exports american jobs overseas and devestates whole communities. Those people must have needed time off.

What is it about strip mining that leaves permanent scars on the earth's surface? Those trees wanted to go.

Your logic that if it exists there must be a logical need is flawed at best.

It is just another way to make a fast buck at the expense of the little guy. THAT's why everyone here gets a little emotional. Our upbringings and experiences in timeshare ownership make us cringe every time we see another "innocent" get "taken".

Sure they probably conduct themselves within the laws of man, what would God say?

jayjay So now you have the timeshare and try to sell it on E-bay and no one buys it. Than what" you have to pay the mataintance fees or get the credit people down on you. I am sure that all the timeshares on E-bay don't sell and maybe never sell. Who is going to buy a time share for one dollar and than heve to pay $1200 fees and closing cost.

There are always charitable organizations that will take your timeshare if there are no liens, money owed or past due maintenance fees. This would be my choice if I wanted to get rid of of a timeshare week, not hand over $3500 for some company to take if off my hands. I doubt these companies would even take it if there were liens, money owed or past due maintenance fees.

redbird wrote:

jayjay So now you have the timeshare and try to sell it on E-bay and no one buys it. Than what" you have to pay the mataintance fees or get the credit people down on you. I am sure that all the timeshares on E-bay don't sell and maybe never sell. Who is going to buy a time share for one dollar and than heve to pay $1200 fees and closing cost.

redbird wrote:

jayjay wrote:

John, I couldn't have said it better myself.

Hey Elsa I'll take your timeshare off your hands for $3500 then turn around and sell it on Redweek or Ebay for $1.00 .... making a huge profit of $3499 minus the cost of listing on Redweek and Ebay.

What these kinds of companies do is maike timesharing an even dirtier word than it already is by taking advantage of desperate people.

john1671 wrote:

Great question Elisa....

What is it about some city sidewalks that brings us three card monte dealers, society must have a need.

What is it about some corporations that exports american jobs overseas and devestates whole communities. Those people must have needed time off.

What is it about strip mining that leaves permanent scars on the earth's surface? Those trees wanted to go.

Your logic that if it exists there must be a logical need is flawed at best.

It is just another way to make a fast buck at the expense of the little guy. THAT's why everyone here gets a little emotional. Our upbringings and experiences in timeshare ownership make us cringe every time we see another "innocent" get "taken".

Sure they probably conduct themselves within the laws of man, what would God say?

Um, okay. I'm not sure how this suddenly went the religious route but the answer to every question above is either corruption or greed. I'm not quite sure why you're not cringing about the industry sticking it to so many people as much as you are the people who are helping them out of it. It would seem to me, from the difference in opinion expressed here, that there are viable arguments for both cases.

I agree that there are lies told by timeshare salespeople such as:

1. you can trade this timeshare for anywhere in the world at any time - (false, it depends on your trading power and supply and demand of where you would like to trade into)

2. if you buy this timeshare it will be a wise investment - (false, timeshares are a liability, not an asset, as they depreciate the minute you sign on the dotted line with a developer.

3. you will have no trouble renting and making a profit from your timeshare if you don't use it - (false, depending on the supply and demand of your resort, desireablity of the area and time of year you may not be able to rent your timeshare for even the maintenance fee or at all.

The list goes on an on. HOWEVER two wrongs don't make a right. Just because there are lies told by salespeople concerning timesharing doesn't give anyone else the right to SUCKER a desperate wannabe seller into enticing them to hand over $3500 to YOU in order to be rid of it.

I really don't get where you're coming from in thinking this is okay.

elsas3 wrote:

Um, okay. I'm not sure how this suddenly went the religious route but the answer to every question above is either corruption or greed. I'm not quite sure why you're not cringing about the industry sticking it to so many people as much as you are the people who are helping them out of it. It would seem to me, from the difference in opinion expressed here, that there are viable arguments for both cases.

I don't know which are the biggest scammers, the upfront fee timeshare resellers or the scammers such as Timeshare Relief which will take $3500 of your hard earned money to rid you of your unwanted timeshare.