April Newsletter Q&A: Call For Timeshare Education

Timeshare Crusader Lisa Ann Schreier answers the following question in this month's newsletter:

I've been reading your blog and your forum here on RedWeek.com for some time now and I noticed that one of your favorite topics is timeshare education. I agree that it is something that is needed. Why is there so little and what is a concerned timeshare owner to do?

Read Lisa Ann's response »

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Got a call from Simply Timeshares stating they had buyers for my timeshare. Even sent a legal-type looking document with sellers. Red lights came on when they asked us to wire the money for title search and tax to close the deal. Ever hear of these guys or this scam? I am pretty sure it's a scam at this point.

kenneth676 wrote:

I am pretty sure it's a scam at this point.

It is indeed a scam. You do not need to pay any of the fees that these bozos are mentioning. Even if you did, that money would come out of the sale of the proceeds and not paid upfront by you, the seller.

Stay far away from these clowns - and any others who say they can/will sell your timeshare for some sort of an upfront fee.

Two women just got arrested yesterday in Florida for pulling the exact same scam. See my post in Timeshare Companies under H & H Holding.

I'd love to give these guy's info to someon who would pursue them, but who?

kenneth676 wrote:

I'd love to give these guy's info to someon who would pursue them, but who?

File a complaint with the attorney general in the state the scammers are located .... in most cases you can do this online .... google for contact info.

Contact the Volusia County Sherrif's Office in Florida. They are prosecuting them.

TO NEW TIME SHARE BUYERS ASK AND INSIST ON GETTING AN ANSWER--WHAT KIND OF BUY BACK PROGRAM DO YOU HAVE IF FOR SOME REASON I HAVE TO SELL MY TIMESHARE DUE TO ILLNESS, DEATH OF PARTNER, FINANCIAL PROBLEMS, DIVORCE, ECT. ASK IF YOU CAN GET THEIR ANSWER IN WRITING AS PART OF THE CONTRACT. THIS IS A VERY IMPORTANT QUESTION BECAUSE THERE ARE THOUSANDS OF CONDO OWNERS WHO NEED TO GET OUT OF THEIR MONTHLY FEES FOR ONE REASON OR ANOTHER AND CAN'T BECAUSE THE TIMESHARE INDUSTRY DOESN'T OFFER A EQUITIBLE SOLUTION AT THIS TIME OR THEY OFFER YOU ABOUT 10-20% OUT YOUR ORIGINAL COST, AND THAT MEANS THE VALUE ON THE OPEN MARKET IS RIDICULOUS TOO. IT'S TIME TO INSIST ON A WRITTEN REPURCHASE PLAN IN TIMESHARE CONTRACTS AND IF YOU DON'T, YOU'LL HAVE THE SAME PROBLEM THE OLDER TIMESHARE OWNERS HAVE NOW. BEWARE!!! WELCOME YOUR REPLIES.

JUST GOT BACK FROM VACATION IN ARUBA AT THE MARRIOTT SURF CLUB. A FRIEND OF MINE POINTED OUT A FELLOW WHO JUST PURCHASED ENOUGH POINTS IN MARRIOTT'S NEW PROGRAM TO GO TO ARUBA EVERY YEAR. AT $11.74/PT, HE PAID $46-47,000 FOR THAT RIGHT OF USE, PLUS HE'LL PAY ANOTHER 4% MAINTENCE FEE EACH YEAR ON THE TOTAL AMOUNT OR ROUGHLY $18-1900 EACH YEAR. IF YOU ASASUME HE WILL HAVE IT FOR TEN YEARS AND DIVIDE THESE TWO FIGURES, HE WILL HAVE SPENT $64,000 OR MORE FOR TEN YEARS OF USE, $6400/ YR.

HE COULD HAVE RENTED THE SAME CONDO EACH YEAR FOR $2500-3000. DOES THIS MAKE SENSE?

I KNOW SOME OF YOU WILL SAY THAT HE CAN USE HIS POINTS TO GO ELSEWHERE TOO AND MY ANSWER IS HE ALSO COULD RENT ELSEWHERE TOO, OR BY THE SAME TIMESHARE ON THE OPEN MARKET FOR HALF THE PRICE AND A LOWER MAITENANCE FEE EACH YEAR, AND RENT IT OR TRADE IT FOR ANY VACATION LOCATION IN THE WORLD THRU INTERVAL INT.

MAYBE I'M MISSING SOMETHING SINCE I GREW UP WITH THE OLD MATH, BUT THIS DOESN'T MAKE SENSE TO ME AND IT WON'T TO HIM EITHER IF HE EVER WANTS TO ASK MARRIOTT WHAT THEY WILL BUY IT BACK FROM HIM DOWN THE ROAD. IF HE THINKS THE NEW CAR DRIVEN AROUND THE CORNER LOSES VALUE, WAIT UNTIL HE HEARS WHAT MARRIOTT THINKS HIS VALUE IS THE DAY AFTER HE BUYS IT. COMMENTS PLEASE.

I have always contended that points are just air. They can sell as many points as they want and flood the market so all the good weeks go fast and everyone is stuck with useless undesireable weeks. Developer points are so over priced it's rediculous. Even after market points aren't worth it in my opinion because you still have to pay never ending increasing maintenance fees and only hope that you can get a decent exchange.

I advocate renting from someone on this site or another. You only have to pay for what you use and are not obligated to a lifetime of maintenance fees and assessments.