Desperate timeshare owners falling for scams

Selling a timeshare vacation property has always been a challenge. These days, it can be nearly impossible. The market is flooded with units for sale. People who are struggling to make ends meet are desperate to liquidate.
Con artists are cashing in on that desperation. Fraudulent telemarketers across the country are taking in millions of dollars by making promises they cannot keep.

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They say they have a buyer lined up whos ready to buy your property, explains Jeanette Kopko with the Dallas
Better Business Bureau. And they make it sound like you need to pay their fee right away or this buyer is going to slip out of your grasp.
But the bottom line is always the same: There is no buyer. All the company does for the money if it does anything at all is list your property for sale.
They just lie to you, says Catherine Aviolo of Chicago.
Catherine and her husband, Joe, are both unemployed construction workers. They need to sell their timeshare in Florida to pay off their mounting credit card debt.
One day they got a call out of the blue from a company in Texas that guaranteed to sell their unit within six months. Catherine and Joe thought their prayers had been answered.
The caller said theyd have to pay a small fee for the service: $399 in advance. Thinking this was a sure thing, the Aviolos came up with the money. But the company never came up with a buyer.
Every time we contacted them they said they had no one interested in it because we were asking too much money, Catherine says.
The timeshare is still on the market and the company wont refund the money. The Aviolos are now on what telemarketers refer to as a suckers list because this summer they were contacted by at least 14 different timeshare resellers. All wanted money up front.
John Davis, who lives in New Mexico, got taken by a timeshare resale con artist for $2,200. Davis was thinking about selling a unit he hadnt used much recently. Thats when he got an unexpected call from a telemarketer who said his company had a buyer. The deal would close in 30-60 days, but Davis would have to pay the closing costs in advance.
They sounded legitimate, he recalls. And he wanted to cash out of the unit, so he gave them his credit card number to cover that enormous fee.
Davis waited the 60 days and nothing happened. When he called the company he was given excuses. This went on for months. Finally, the company stopped answering the phone and Davis knew hed been burned.
They told me exactly what I wanted to hear and I fell for it hook, line and sinker.

1. More on selling your timeshare
2. Tips for selling your timeshare
3. Seling a timeshare is no picnic

At first the credit card company did not want to refund the money because too much time had elapsed. But Davis made such a stink, he eventually got his money back. He was lucky.
Law enforcement agencies across the country are reporting a spike in complaints about timeshare resale scams.
It is very large and growing problem, says Terence McElroy, communications director for the Florida
Department of Agriculture and Consumer Services, which licenses telemarketers in the state. A lot of people really need to unload their timeshares, and unscrupulous telemarketers are able to exploit this situation.
Timeshare resale complaints are now the most commonly reported consumer problem to the Florida
Attorney Generals office. Since the beginning of the year, more than 8,500 people have filed complaints.
The increasing level of fraud in the timeshare resale industry is alarming, says Florida Attorney General Bill McCollum.
His office has active lawsuits against nine timeshare resale companies and is investigating 49 others.
Illinois Attorney General Lisa Madigan says her office has
seen victims taken for as much as $5,000. Madigan tells me the fake resellers often send timeshare owners bogus documents that look legitimate to make the potential sale seem real.
While some of the scammers still take a credit card numbers over the phone, Madigan says most now want the money wired to an out-of-state bank account.
Wire the money and you might as well throw it in the garbage, because youre not going to see it again, she says.
By the time people realize they've been taken and complain to the authorities, the con artists have closed their bank account, disconnected their phone and moved to a new location.
Its not easy to resell a timeshare. The market is weak, and the number of available units is staggering.
If youre lucky you may be able to get 10 cents on the dollar trying to sell it in the resale market, says Ed Perkins, contributing editor at
SmarterTravel.com.
Thats why most real estate agents wont bother with a timeshare resale, which means youre on your own. Your best bet is to sign up with a legitimate listing organization. Perkins says theyll charge you around $25 to post your message on their bulletin board.

Timeshare Deals – Where Are the Best Timeshare Vacation Deals?

If you are familiar with timesharing, you already know that developer’s prices for timeshares tend to be through the roof. But there are definitely deals available. So if you’ve been wondering where the best timeshare deals are, we’ll take a look at some of your options here for buying timeshare resales. Timeshare resales are definitely the best way to get a timeshare vacation deal.

While occasionally you will find owners advertising their timeshares in the real estate section of your local paper, if you really want to get the best price, online is the best place to start your search. Of course, if you do want to keep an eye on your newspaper, that might be a good way to find a timeshare another owner needs to get rid of because they can’t afford it anymore. Even if it isn’t a property that you want, you might be able to sell it yourself online and take that cash and put it towards the resort you really like!

But assuming that’s too much hassle, let’s take a look at where to find the timeshare deals online. Here’s a few of my favorite places to scout for bargains.

Ebay

I’ve picked up one timeshare on Ebay already and I’m always on the lookout for another deal. I bought a Royal Holiday Club timeshare for 0 plus closing costs and transfer fees. After adding up everything, I paid a total of 0 for a timeshare membership that includes resorts located in lots of urban locales such as New York City, San Diego, London and Paris. The original owner probably paid twenty or even thirty thousand dollars for this timeshare, but I picked it up for a song.

So it definitely pays to shop Ebay if you know what you are looking for. Just make sure you add up the winning bid amount plus the other costs involved to make sure that you are truly getting a good deal. I’ve seen some auctions that didn’t look so hot after you added in closing costs, transfer fees and the maintenance fee. Beware of any supplemental charges. This occasionally happens at resorts that suffer some weather damage – such as hurricanes, etc.

CraigsList

While I think the sellers on Ebay have a better understanding of the timeshare resale market than Craigslist sellers do, that’s primarily because Ebay sellers tend to actually be real estate companies. If you see a timeshare listing on Craigslist though, it is likely the owner selling their timeshare directly. Now often, the initial asking price is overinflated, but if you keep track of the listings that interest you, it can be worthwhile getting in touch with the seller a month or so down the line and see if they are ready to accept reality yet. If they are, then you might be able to avoid any heavy closing costs for the sale by either doing the due diligence yourself or searching for a closing company that won’t charge you an arm and a leg.

Timeshare Owners forums

Have a particular brand of timeshare you are interested in buying? Use your Google search skills to find an owners forum, message board or mailing list for your favorite brand of timeshare. There are forums for Worldmark owners and forums for Hyatt owners and message boards for DIsney Vacation Club owners. So search around. Also there are general timeshare message boards too, such as the TUG forum (Timeshare Users Group). Most timeshare forums will have a Buy/Sell section on the boards so owners can trade or sell to each other. It’s a good place to find a really nice timeshare that may never wind up on Ebay.

You can also find great timeshare deals on Emma’s website: Time Share Resales. For more helpful articles on timeshares and how to get the best deals, be sure to check out Emma’s tips on Orlando Timeshare Promotions and Are Timeshares a Good Buy?

Timeshares and Money - Are Timeshares Worth the Cost?

Many people have one primary question when thinking about buying a timeshare. Does it make financial sense or does it make sense at all to buy a timeshare? Well the answer can be both yes or no depending on who is buying and for what purpose it is being bought. In this article we will discuss why it makes sense to buy a timeshare. One of the most traditional answers could be that you own it, whereas when you rent a hotel room or something similar you don't own it. Timeshare industry has grown by leaps and bounds since its inception in this country and many notions that people had earlier have been clarified. Timeshare sales are no longer a small business. Big hotels and resorts are into timeshare business now. It is estimated to be a Five billion dollar a year industry worldwide and approximately two million Americans have timeshares. You might be wondering what lured so many people in America alone to timeshares. Here are some reasons.

When you stay at a hotel, you're basically paying rent to the hotel for the use of a room. assuming you vacation for one week a year and that your average hotel cost is $900 for the week, if you were to do this for 30 years. The total cost for staying in a hotel will be $27,000. However, if you were to purchase a timeshare for $10,000 and pay the $450 annual maintenance fee, the total thirty-year costs for using the timeshare will be $23,500. So in reality, you are saving $3500 to stay in a property that you own, instead of paying a hotel to rent the room.

But here is the interesting fact. You still get to own your timeshare property which will earn some money if not the original price. So your actual expenditure on your vacation will be way less than renting a hotel suite. Then who can ignore the comfort of a home in a timeshare property. A typical timeshare unit has two or three bedrooms, more than one bathroom, a kitchen, a laundry room and a pool plus not to forget all the resort facilities.

Do you see the advantage in that? Another advantage could be the ease of planning your annual vacation. With a timeshare, you generally know exactly when and where you are going to go each year.

How many hotel rooms can accommodate large families and friends? With a timeshare vacation you can invite who ever you want and can host reasonable size gatherings.

A timeshare is like money lying safely in your bank. You can sell it whenever you want. Not only that if you buy a deeded plan, the timeshare gets inherited to your heirs also.

Compare the timeshare with buying a vacation home. You don't have to worry about upkeep and maintenance also. The management company will take care of everything. You just have to pay the maintenance fee for that. But what a pleasure you can live like you are living in a hotel and still get a feel of your home and have to do nothing.

Apart from these benefits, timeshare companies offer you so many discounts like bonus weeks, discounts on airfare, car rentals, attraction tickets, restaurants and much more. there are many reasons owning a timeshare does make sense, it all depends on your vacation needs, but the benefits of ownership can be great and can save you a lot of money in the future.


If you are thinking about timeshare ownership and want to learn more Timeshare Information, you should check out We Own Timeshares. Meet and connect with timeshare owners on this Timeshare Ownership social network. It is free to join and you can create your own profile in minutes. Share information and reviews of different timeshare locations and begin asking questions in the forum. Visit today.

Timeshare Ownership: The Pros and Cons of Timeshares

The pros and cons of purchasing a timeshare should always be considered in a rational way before making a decision. It is important to consider your choice of lifestyle, as well as your financial condition and giving weight to the advantages and disadvantages. For instance, if you are quite wealthy. The purchase price will be easier to pay that if it represents a substantial amount of your savings. The cost will also affect how you evaluate the pros and cons of other aspects of the investment. In either case, it is always wise to thoroughly research your decision.

First, we'll look at some of the advantages to timeshare ownership. To start with, timeshare properties can be quite economical when contrasted with buying standard real estate that you would only occasionally use. For instance, you could buy a piece of real estate for $200,000, or you could purchase a timeshare property were only $10,000 and pay an annual maintenance fee of $500 per year. Assuming you own a the timeshare for a period of 30 years, the total cost will be as follows:

(30years x $500)+$10,000 = $25,000 total.

Compare it with buying the real estate property; you will save $175,000. Isn't that a lot of money? Is it wise to invest that much extra money for once a year use?

Consider instead, that you spend $1200 a year to stay in a hotel during your vacation. To be fair, we need to consider that cost for the same 30 year period.

30 years times $1200 equals $36,000. This is still $12,000 more than the $25,000 you would pay to own the timeshare property for your lifetime.

Apart from saving money you get the comfort of your home. In a hotel you might get only a suite. But a typical timeshare condo has two or three bedrooms, one or two bathrooms, a kitchen, a dining room and even a laundry room. Also timeshare units are usually fully furnished. Most of the timeshare properties have an indoor or outdoor pool also these days. In addition to that you also get resort facilities. What more somebody might want when they get all these facilities and comfort of home?

If you have a timeshare you don't have to worry about the upkeep and maintenance of the condo. It is taken care of by the developer. Now compare this with buying a real estate property for the life, you have to do all the maintenance.

A somewhat overlooked advantage of owning a timeshare is that it almost forces you to take a vacation each year. If you have a timeshare, you definitely make it a point to go for a vacation at least once a year so that you can take full advantage of the property. Also, you are also saved from the hassles of planning a vacation every year since you know where you're going and when well in advance.

Most of the timeshare companies are associated with other timeshare companies. This allows the exchange of timeshare. This is one of the many reasons why people prefer timeshare.

Let's quickly examine some of the cons of timeshare ownership. One of the common complaints people have with timeshares is the use of high-pressure sales techniques during a sales presentation that an unknowing customer is lured into after receiving a free gift from the timeshare company. It is wise to thoroughly research the company before going into the presentation and ensure that they have a good reputation for being honest and easy to deal with.

You'll lose some of your free capital when you have to pay a large fee upfront. Also, when you finance the cost through a loan you will be paying extra money in interest costs. Lastly, don't forget about the annual maintenance fees and any association fees.

Timeshares are one of the most difficult types of real estate to resell. Furthermore, they typically depreciate on the resale market vice appreciate. These facts are cons to timeshare ownership.

A final consideration is the flexibility of your timeshare property. You might have a floating week and an exchange program to take advantage of, but you'll have to plan your timeshare vacation months in advance. Remember that you are on a first come, first served basis with the other timeshare owners. If you have a fixed week, the lack of flexibility is an even greater con.

If you are interested in timeshares a good place to learn more is in aTimeshare Forum. We Own Timeshares.com is a new social network full of Timeshare Information and it has a great forum too. It is free and easy to join this timeshare social network. Create your own profile in minutes, share experiences and reviews of different timeshare locations and start asking questions in the forum today.

Timeshares – The Best Way To Have Your Own Vacation Place For A Small Price

Timeshares allow vacationers to become part-owners of their favorite vacation resort. The individuals sharing a specific vacation accommodation may use that place at specified times during the year. The fees that have to be paid are not so much more expensive than renting the place while at the same time offering the “timesharer” more control. They may be re-sold or rented out to other people or exchanged for other shares in the same or other localities.

Someone who exclusively owns accommodation shoulders the total cost of the unit as well as all the responsibilities of maintaining it. If the owner resides in the place for most of the year, the cost of owning and maintaining it will be worth his while. On the opposite end, considering that he will only be staying in for a few weeks or months in a year, paying for full ownership of a seasonal accommodation and shouldering the regular costs of maintenance as well as the annual taxes for the place is not a wise financial move for the average individual. Full ownership of seasonal accommodations is only resorted to by people in real estate who purchase housing for the purpose of renting or re-selling them.

That accounts for the fact that timeshares have become very popular for regular vacationers who find it quite reasonable to pay a small maintenance fee as well as his pro-rated share in the taxes for the place, and always have the accommodation ready for him when he needs it. Although similar to renting, this is actually an investment of sorts that can be regained with the proper technique.

While there are many different kinds of timeshares, we are considering here deeded timeshares which offer the people the convenient middle option where they have deeds of periodical ownership for leisure accommodations and pay only for that period for which they will be owning it in a year. Just as the ownership of the accommodations is shared, so are the annual taxes paid on a proportional basis.

As the owner of a deeded timeshare in a resort accommodation, a person may lease the place to a third party and even re-sell his ownership. Of the two, leasing will be a better way to recover expenses and make profits since the owner will be receiving payment for as long as the accommodations are occupied by others. Re-selling timeshares are not usually lucrative business moves because a great part of the original expenses incurred in the initial purchase have to do with expenses not related to the value of the property. Consequently, if the timeshare is re-sold on the basis of the property’s value, the re-seller will be lucky to sell at a break-even price.

One of the most attractive features of timeshares for vacationers is the fact that they can be exchanged for other timeshares in other locations. This is especially useful for people who want to go to a different vacation spot ever so often. All they need to is to publicize their timeshares as being open for exchange and wait for the appropriate party to transact with. Exchanges may be conducted between leased or deeded ownership. For the purpose of facilitating exchanges for vacationers, the companies which sell or lease these units will usually have website where such exchanges may be advertised. This is one very good way for them to promote their units to the public.

There are many reasons to use timeshares, from a short getaway to a long retreat, knowing that there are timeshares almost everywhere now: http://www.timeshares4you.info

What are the Alternatives to Timeshares?

Over the last several decades, the popularity of timeshares has grown by many folds. So much so that over two million Americans have timeshare properties, both in and out of the country. But the rise of timeshare industry also saw the rise in scams and frauds. More recently the timeshare industry has been plagued by unscrupulous activities of frauds and scammers. Notwithstanding these serious problems with timeshares a new breed of alternatives are emerging. One of the main reasons why people were attracted towards timeshares was that it will be an expensive affair for a big family to vacation every year at a hotel or a resort. Timeshares proved to be an economical solution to all that.

Most times, a timeshare property provides a good value for its cost. However, there are large upfront purchase costs, which must be paid. Purchase prices can range from $5,000-$50,000. Furthermore, the owner of the property is responsible for property taxes and make as well as maintenance and management fees that support the upkeep of the property. These fees can range from $200 to more than $1000 per year. Occasionally these fees outweigh the long-term benefits of timeshare ownership.

Exchange programs allow a timeshare owner to trade the use of their property for the use of a property at a different location. However not all timeshare properties offer this option. Even when they do they're usually fees associated with the exchange. Selling a timeshare can also be very difficult. It is not common to see timeshares selling at 40% reduction from their original price.

Recently the vacation industry has been washed over by a wave of new concepts. One of these concepts is the idea of a resort membership. With a resort membership for your one-time investment you can enjoy the benefits of the resort without having to pay taxes or maintenance fees, although there may be a yearly fee of some sort involved. Prices vary widely from several thousand to more than $100,000, but the odds are, you can find something within your budget.

You might be able to find a lifetime membership at a resort for approximately $3000. This would be a pretty good deal. They may also offer a limited five-year membership for a little bit less. This resort membership would give you access to the resort when ever you want to go and would likely allow the use of other resorts within that company's network. So, this could be an affordable vacation solution.

Condo hotels are another new concept that have been gaining popularity as of late. Currently there are few owners, but the concept is receiving high reviews and seems to work well. Essentially, you would be buying a condo in a high-class hotel and receiving all the benefits and amenities available at the hotel. If you are not using your condo you can put it up for rent and receive a percentage of the revenue that it produces. Compared to a timeshare property a condo hotel may offer you more flexibility and a wider range of amenities across a variety of locations.

These newer alternatives in addition to traditional timeshare programs have expanded the range of possibilities available to you. When considering making a long-term investment in your future vacations. It is always wise to thoroughly consider the benefits and drawbacks of each alternative program before making your purchase. Although timeshare programs continue to grow they may or may not be the best solution for you. It's up to you to decide.

If you are interested in timeshare ownership and want to discover more Timeshare Information, you should check out We Own Timeshares. Meet and connect with timeshare owners on this Timeshare Ownership social network. It is free to join and you can create your own profile in minutes. Share experiences and reviews of different timeshare properties and begin asking questions in the forum. Visit today.

Tips For Buying Timeshares & Renting Timeshares

Timeshare: Making the Decision to Buy
A vacation home without the long-distance hassle: a timeshare might be the perfect solution.

You’ve found it: the place you’d like to return to again and again for your vacation. Having a home base rather than trying to find hotel accommodations makes sense to you, but the thought of buying a house and trying to maintain from a distance while only using it a few weeks each year seems daunting and expensive. Looking at timeshares for sale may be your best solution. You have the option of buying new, or the option of buying timeshares for sale by owner.

When you buy a unit, usually a condo, you agree to share it with others but have the option of using it for your own vacations. Often a maintenance or management company will assess an annual fee, and in return they’ll make sure the building is maintained and protected.

How the timeshare arrangement is set up varies by timeshare company. It’s a good idea to look at both new properties and timeshares for sale by owner. But some key factors to consider include:

Decide if the area you’ve picked is one you’ll be happy to vacation at for years to come.
Inspect the timeshare for sale. If possible, have a professional home inspector take a look as well.
Check the timeshare company’s record with the state’s Better Business Bureau or State Attorney General’s Office to see if there are outstanding complaints regarding maintenance and association agreements.
When possible, talk to other timeshare owners in the complex. Find out what they think of the area and the timeshare.
Don’t let someone pressure you to make a decision on the spot. Always take time to think it over.
Consider what’s more important—having a brand-new unit that will cost anywhere from 30-60% more, or being able to buy a previously-owned timeshare that will be less expensive.

Timeshares for Sale: Where do I Find Them?
You’ve decided to buy—now how do you find just the right one?

The world of timeshares for sale can be confusing. And unfortunately, scams do happen in this market, so it’s worth your while to take your time and be sure of your choice.

In terms of price, timeshares for sale by owner will save you money. Buying direct reduces the costs associated with middlemen, saving you money and costing the seller less, so both sides win.

First, of course, you need to know where you want to be. Beaches? Lakes? Mountains? Private getaways? Once you have zeroed in on the place that sounds like heaven for upcoming vacations, figure out what you need. Nonsmoking? Number of bedrooms? Now it’s time to look at the time shares for sale available.

Now you’re ready to get more specific. VacationPropertyDirect.com lists time shares for sale by owner, sorted by state. Whether on a gentle mountainside in Vermont, on the shores of one of Minnesota’s 10,000 lakes, or relaxing in Scottsdale’s lovely desert environment, the choices are extensive.

Once you’ve found something that sounds like it fits your needs, you can contact the owner directly. Make arrangements to visit the timeshare and the neighborhood, so you can see firsthand if it’s what you want. Consider the availability of things like grocery stores and doctors, if you are planning to use the timeshare a few times a year. Find out about the year-round climate, if you’d like to use it for more than one season.

If the time share meets your checklist, you’re on the road to peaceful, worry-free vacations for years to come!

Timeshare Resales: Know Your Market
Interested in selling a timeshare? Understanding the market is key.

You’ve got a timeshare, and now you’d like to sell it. How do you go about selling timeshares?

While we’ve been trained to think of buildings and condos as real estate, what you’re really selling is a vacation. Play up the aspects of your location: beach, mountains, skiing, solitude, family-friendly—that’s what gets people’s attention.
Price is key. Do your homework—check with the building management company or local tax offices to find out what kind of prices timeshares have sold for recently.
When checking resale, make sure you look for comparable prices—look for units similar in size, location, and age as the one you want to sell.
If available, consider hiring a timeshare appraiser. Find one that’s licensed in the same state as the timeshare is located. They may have access to recent sales information that you can’t easily get.
Check with the timeshare management company to learn what regulations they may have regarding resale.
You can advertise locally through newspapers, or you can use the power of the World Wide Web—VacationPropertyDirect.com is an excellent and cost-effective way to reach a huge potential pool of buyers.
Be careful if approached by a timeshare broker—some are legitimate, some are not. Some may offer services that are identical to what you can do yourself via the internet.
Above all, make sure your timeshare is in top condition, clean and repair-free.

Timeshare Rentals – The How To’s
Have a timeshare available, or want to borrow one for a bit? Here’s what to know.

There’s a misconception that says timeshares are strictly for-sale properties. That’s not the case. Potential timeshare buyers have the option of renting a timeshare from an owner who isn’t using the timeshare, but doesn’t want to sell it. Or someone thinks they may eventually be interested in timeshare sales, but they’re not ready for the full commitment just yet. Timeshare rentals by owner allow both owners and renters to have flexibility. It’s a win-win for both sides.

A few things to keep in mind when renting a timeshare, whether you’re the landlord or the renter:

Even though the timeshare is not changing ownership, the rental should be done in writing with specifics about what is expected for both sides. Payment, damage deposits, check-in and check-out times, rules regarding pets, smoking, or children, should be spelled out and signed by both parties.
Timeshare owners should consult the property managers of the timeshare to see what the rules regarding rental are, and share those regulations with the renter.
Timeshare renters should treat the timeshare as what it is: property that belongs to someone else. Follow the rules, keep everything clean, and notify the owner if you notice anything amiss (plumbing problems, appliances not working properly, etc.).
Renters should make their payments on time, and timeshare owners should refund damage deposits promptly.
For both sides, be respectful of neighboring timeshares. If you know the timeshare owner next door is sensitive to loud noise, consider putting a “quiet time” clause in the rental contract—and if you’re the renter, comply with those clauses.
If the rental goes well, the renter should provide a reference for the owner, if the owner plans to rent the property again.

It’s all about respect—and a fun use for a vacation rental!

www.vacationpropertydirect.com is a vacation property and timeshare listing service that allows buyers, renters, and owners to connect directly and save middle man costs.