Timeshare Seller Beware!

If you are familiar with any of my postings, books and/or live events, you know that I am decidedly on the side of the consumer—alerting them for things to look out for when purchasing, or even thinking of purchasing, a timeshare.

Today is different.  Today I want to shed some light on an even scarier subject: what to do with a timeshare that you don’t want or use anymore, and the disgusting companies out there ready to fleece you.

If you own a timeshare, you may very well have received a mailing from these scammers.  They obviously aren’t hurting for money, as many of these postcards are oversized, four-color, and printed on glossy stock.

The headlines scream:

GET OUT OF YOUR TIMESHARE!

STOP MAINTENANCE FEE MADNESS FOREVER!

THE TRAP IN TIMESHARES

URGENT MESSAGE FOR ALL TIMESHARE OWNERS!!!

The pitch varies from one company to another, but the basic premise of these scammers is that they will take the timeshare off your hands, no selling involved . . . if you pay them money!

Yes, you read that right. Say you have a timeshare that you purchased several years ago for $7,000. Your annual maintenance fees are around $500, and for whatever reason you just don’t use it any longer.

These merry pranksters set up shop in a local hotel or conference center and then they tell you: “Our method is guaranteed to get you out of your timeshare once and for all!”

What is their method? Simple. For about $3,000 these kind-hearted people will take your timeshare. If they sell it (which they claim they won’t), they won’t give you the proceeds. No, you just pay them to take the timeshare from you.

Sometimes, these postcards are very “official” looking and claim to have “inside” information on the timeshare business. One of them claims:

“Meetings are now being held by _________ in your local area to discuss HOW and WHY the NEW TIMESHARE PRODUCTS currently being offered will ADVERSELY affect YOUR TIMESHARE.  Learn the REAL STORY WHY MAINTENANCE FEES, EXCHANGE FEES AND SPECIAL ASSESSEMENTS are constantly being raised and what you can do about it.”

Hmm, it seems to me that the real reason fees are rising is because it takes more money to maintain a resort and RCI and II (among others) are profit-making companies. That’s “inside” information?  Hardly.

These organizations are worse than the ubiquitous listing services that will list your property for $500 a year, but never seem to sell the thing. These people are preying on the lack of knowledge of confused consumers.

Imagine if you had a car you were no longer using. Would you give someone $3,000 to take it off of hands so that you didn’t have to pay for oil changes every 5,000 miles?  That is exactly what these companies are doing. Don’t fall for it!

The glossy mailers and postcards claim: “Call us NOW for your 100% Guaranteed Relief!” And even worse: “The truth will set you free.” The truth should send them to jail, that’s what I say.

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Lisa Ann Schreier is the founder of Timeshare Insights (www.timeshareinsights.com), a consumer information source serving the more than 3 million Americans who attend a timeshare sales presentation or "pitch" annually, as well as the more than 2 million Americans who already own one or more timeshares. She is the author of two best-selling books on timeshare---Surviving A Timeshare Presentation: Confessions From The Sales Table, and Timeshare Vacations For Dummies. Both books have been a "hit" with consumers who are confused and angry by the industry’s outdated sales and marketing techniques.