I worked at a timeshare SCAM....I want to tell you about it.

Forum: Buying, Renting, and Selling Timeshares

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By Don P.

I worked at a timeshare SCAM....I want to tell you about it.

I keep repeating over and over again . Never pay anyone money upfront that claims they can get you out of your contract !

Avatar for Don P. Don P.

2 months ago
Jun 04, 2020

By Dennis H.

We have heard over and over again. People are looking for a good and safe way to exit. So, what approach do you recommend that is safe and effective??? What would you do beyond "never paying any money upfront?" ...........

donp196 wrote:
I keep repeating over and over again . Never pay anyone money upfront that claims they can get you out of your contract !

Last edit by dennish144 on Jun 05, 2020 09:03 AM.

Avatar for Dennis H. Dennis H.

2 months ago
Jun 05, 2020

By Don P.

Pick up the phone and call your home resort and ask them to take it back . Make sure you get the person that handles the titles . Let them know that you are going to get rid of your week with or without their help and that it would be in their best interest to work with you . I got rid of two timeshares that way in 2011 .

Another option is to rent out your unit until you exit . Even if you don't recover your maintenance fees at least you can off set some of the expenses . I would let friends or relatives use it before I lose my week .

The point is to be proactive . Don't throw money away on some scam operation . Make a point to call every week or so . The squeaky wheel gets the grease .

Avatar for Don P. Don P.

2 months ago
Jun 05, 2020

By Lance C.

dennish144 wrote:
People are looking for a good and safe way to exit. So, what approach do you recommend that is safe and effective??? What would you do beyond "never paying any money upfront?"

In addition to Don P's suggestion, try listing your unit for sale or giveaway here in RedWeek's Bargain Basement. Other reputable websites are My Resort Network, E-Bay, Craigslist, and Timeshare Users Group (aka "TUG"; tugbbs.com) where you can advertise for free that you want to give your unit away. If you offer to pay closing costs and maybe even the next maintenance fee, that will still work out a lot cheaper than paying these upfront fee exit companies.

Avatar for Lance C. Lance C.

2 months ago
Jun 05, 2020

By Luisa Q.

Has anyone heard of Sellmytimesharenow and Worldwide Property Transfers? Are these legit companies that really get you out of your timeshare?

Avatar for Luisa Q. Luisa Q.

2 months ago
Jun 08, 2020

By Don P.

Never pay anyone money upfront that claims they can get you out of your contract !!

Avatar for Don P. Don P.

2 months ago
Jun 08, 2020

By Irene P.

SellMyTimeshareNow is a listing/advertising company. They tend to inflate the price of a timeshare to justify their listing fee. I spoke with one of their agents a few days ago. He refunded a listing fee of $1598 to list a studio timeshare. The owner said the SMTN representative suggested a listing price of $6995. If they did suggest a listing price, that would violate a Florida statute, because suggesting a listing price requires a real estate license. I had the timeshare owner contact a member of the Licensed Timeshare Resale Broker Association (LTRBA). The LTRBA member said he would list the studio timeshare for $1500 but she would be lucky to break even after commission and transfer fees, IF sold. Licensed brokers charge nothing upfront. I then contacted another LTRBA member I know. He asked what the first LTRBA broker had been smoking. He said would not want the listing, but said $100 to $500 is what he would suggest. When presented with this information, SMTN refunded the listing fee. Call a LTRBA member to see if a timeshare is worth listing. https://www.licensedtimeshareresalebrokers.org/

Avatar for Irene P. Irene P.

2 months ago
Jun 09, 2020

By Lance C.

luisaq wrote:
Has anyone heard of Sellmytimesharenow and Worldwide Property Transfers? Are these legit companies that really get you out of your timeshare?

Irene gave you the lowdown on SMTN. It's just a listing company. As for WPT, I've never heard of them before. It's not recommended in the timeshare industry to use these companies, law firms, or charities that claim they can exit you from or "cancel" your timeshare. Some are scams. Some just charge you thousands of dollars to do what you can do yourself.

If you want to get rid of your unit, first make sure that the loan or mortgage on it is paid off and the maintenance fees are paid up. Then you can try contacting the resort asking if it will take your unit back. Also, you can try to advertise that you want to give your unit away.

As Don P said, never pay any company upfront that claims it can cancel your timeshare.

Avatar for Lance C. Lance C.

2 months ago
Jun 09, 2020

By Stu M.

luisaq wrote:
Has anyone heard of Sellmytimesharenow and Worldwide Property Transfers? Are these legit companies that really get you out of your timeshare?

Others in this Forum have clearly answered your questions about those specific companies, and fairly pleaded with you not to waste money on "we'll get rid of your timeshare for you" outfits of any kind.

In addition, and assuming your timeshare is paid off, do the math: How much would some outfit charge you to "get rid of" your timeshare for you? I hear $5000 is typical, but have no direct knowledge. Now compare that amount with what you would spend if you ran and ad on Redweek (and maybe others) and GAVE (for $1 consideration) your timeshare to someone AND paid all closing and half or all of the first year's maintenance fee. Would you save some money? Would you also have certain knowledge that your timeshare was truly gone?

Avatar for Stu M. Stu M.

1 month ago
Jun 10, 2020

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