Advance Fee Timeshare Resale Company Training Material

Well what an interesting site.! Embarassed to say, but I am one of those sad unsuspecting client of this woman. One question though, most ads/invitations to preview a timeshare requires a husband/wife team with a certain income. But I purchase as a single person. I was also told that if I changed my mind, the developer will repurchase the property from me. But found out later that that was a lie . Anyone in here got any wise words for me? Thanks.

jayjay wrote:

bruce727 wrote:

A few months ago I received a dvd rom "infomercial" from Timeshare Resales U.S.A. Inc. / GMAC Real Estate, Orlando. I wonder if that's someone you know... It makes a good coaster for cold drinks except for the hole in the middle...

Here's a new one! I received 4 calls (3 were voice mails) from this gal repping Vacation Property Services in St. Pete.

She only wants $299 to list as rent to own - until it sells. Of course that wouldn't take long as she has high demand for Vistana Cascades Section ;-)

She claimed they average 40K resale transactions per year with less than 60 unresolved complaints. The BBB site listed 50 complaints in 36 months.

She gave me the St. Pete Chamber of Commerce phone number and their account number to verify membership and reputation... I'm half curious about that one, the local chamber is in on this stuff?

I'd be leery of the BBB in Florida as far as any timeshare related issue goes. There has to be thousands of complaints against all upfront fee companies in that state that's evidently being ignored by the BBB.

Timesharing is BIG BUSINESS in Florida and the BBB evidently doesn't want to rock the boat of that very lucrative and taxed based industry that brings thousands of people (and their money) to that state each year.

I also wouldn't depend on the Chamber of Commerce's input. They are in the same boat as the BBB. It seems all government entities in Florida shelter the timeshare industry.

Until there's a federal agency that steps in and regulates (I hate that word in most cases, but not in this case) the timeshare industry, the scammers will continue their scams.

BTW, how did these people get your phone number? I would never list my phone number in an ad on the internet. Scammers and advertisers phish the internet for phone numbers for their scams. I would list my email address only, and even then I would list a secondary email address, not my main email address.

I tell you what, if you give me $299 I will list your timeshare in a database on my computer that nobody will see, and even if they did see your timeshare and may be interested they wouldn't pay what I would tell you your timeshare is worth (very inflated) on the resale market. This is how upfront fee companies work.

Anyway, that would be an easy $299 to me for doing nothing but taking your credit card numher.

I've never listed my home phone number in an ad... BUT I suspect one of the resale scammers from my past perhaps sold my info to the next guy OR started up under another entity.

Actually the first scam artist to burn me was Vacations Systems International a.k.a. K.B.S. Enterprise Realty a.k.a. Kenneth B Schwartz. They caught me at a weak moment, regretting a recent purchase from Vistana Resort. Their (K.B.S.)number was disconnected shortly afterward. I wonder if my phone number leaked from the developer documents or the County records?

I average one or two calls per month and as many postcards. As in my earlier posts, I tend to play along with them more than I probably should. This woman said she'd give me the weekend to research their company and call me back Monday. Maybe I should print Gary's sample script and read along as she goes...:)

It's cheap entertainment, unless I factor in the money I already lost to the other scammers... then it stings!

faridah2 wrote:

I was also told that if I changed my mind, the developer will repurchase the property from me. But found out later that that was a lie . Anyone in here got any wise words for me? Thanks.

The only scenario I can think of in this situation is that some timeshare entities such as Marriott and Disney perform what is called Right of First Refusal or ROFR. These entities require that you notify them first before you sell your week and they make you an offer to buy it back, however I don't know if the offers are anywhere near what you may have paid initially.

jayjay wrote:

faridah2 wrote:

I was also told that if I changed my mind, the developer will repurchase the property from me. But found out later that that was a lie . Anyone in here got any wise words for me? Thanks.

The only scenario I can think of in this situation is that some timeshare entities such as Marriott and Disney perform what is called Right of First Refusal or ROFR. These entities require that you notify them first before you sell your week and they make you an offer to buy it back, however I don't know if the offers are anywhere near what you may have paid initially.

The ROFR has nothing to do with what you paid initially. Its purpose is to allow the developer to match any offer you receive on the resale market. It is not activated until you have a firm contract with earnest money from a buyer. The ROFR gives the timeshare management company (Marriott, Hyatt, Disney, and others who have it in their management contract) the right to match the offer you have and buy it out from under the buyer who made you the offer. The purpose is to help protect property values and prevent the resale of a property at a "fire sale" price. It protects the owners but can delay the sale of a property.