IBD-MARKETING . HAS ANYONE HEARD OF OR DEALT WITH THEM ?

gailt37 wrote:

We are interested in selling our timeshare with sunterra resort. I have been contacted by IBD-Marketing and they tell me I can get $21,000 for my timeshare but I have to pay upfront $882 to market it and for a title search. Is the legitament. I don't have money to loose so the $882 is a lot to come up with. I am selling my timeshare due to financial problems so that is why the upfront fee is a lot of money to come up with. They make a great pitch but I would be interested in hearing honest and true information about the company, their reliability. I want to deal with a company that is honest and will do what they say. I don't expect them to do this for free but I was shocked at the amount they wanted. Thanks for any info you can provide.

No. Your timeshare is not worth that much. I know you paid a lot for it, but timeshares are worse than cars when it comes to depreciation. You can get a good idea what your timeshare is really worth by looking at ebay timeshares for sale. eBay has lots of Sunterra listings for sale and they go for pennies on the dollar that you paid.

I always hate to be the bearer of bad news, but these upfront fee companies like to tell people what they want to hear. They say your timeshare is worth more than it is because then you will think they can get a buyer, and sell it better than you, but in reality, even if someone contacted them about your listing, they have no reason to hook you up with the buyer. They already made their money.

These guys are the scummiest, too. The owner of the site keeps posting here, talking up his company. You should never, ever pay an upfront fee to sell your timeshare. Redweek charges just $50, and at least you have a chance of selling it.

I must also advise you that the best thing for you to do with your timeshare is use it or rent out your weeks until you can use the time yourself. Timeshare is practically valueless, even the system that you bought. Sunterra is a great system, don't get me wrong, but the value is in using what you paid for, not in reselling.

By the way, Galt, if you still owe money on your timeshare, you need to keep it and continue to pay, unless you are going to file bankruptcy and attach the timeshare to the proceedings. I don't know how it works, but you would definitely lose your timeshare in the process.

Salespeople are sleazy, upfront fee companies are slimy, and postcard companies, like Timeshare Relief, that charge people to take their timeshares, are scummy. There are all kinds of people out there, ready to take your money and give you nothing of worth in return. The timeshare is worth about 10% of what you paid, I would guess. So you are probably never going to recover your financed amount.

You can reserve units in sought-after resorts within Sunterra with your points and rent them.

I am a real estate broker and am constantly shaking my head at the value of timeshares. We have deeds, they are attached to real estate, but the value is not anywhere near the value of the total property, if you bought it to live in fulltime. I don't get it.

cynthia281 wrote:

By the way, Galt, if you still owe money on your timeshare, you need to keep it and continue to pay, unless you are going to file bankruptcy and attach the timeshare to the proceedings. I don't know how it works, but you would definitely lose your timeshare in the process.

Salespeople are sleazy, upfront fee companies are slimy, and postcard companies, like Timeshare Relief, that charge people to take their timeshares, are scummy. There are all kinds of people out there, ready to take your money and give you nothing of worth in return. The timeshare is worth about 10% of what you paid, I would guess. So you are probably never going to recover your financed amount.

You can reserve units in sought-after resorts within Sunterra with your points and rent them.

I am a real estate broker and am constantly shaking my head at the value of timeshares. We have deeds, they are attached to real estate, but the value is not anywhere near the value of the total property, if you bought it to live in fulltime. I don't get it.

Thanks for the advice. I was shocked by the price they gave me. I would have been happy to get what we paid for it which was half of what they said they could get for it. I will check out redweek.com site for selling. We only have $2,000 to pay on it. IBD said that all that would be paid at closing when they sell.

This ploy is exactly how they snare you in ... they tell you they can sell your timeshare for much more than it's worth ... in this case twice what you paid for it originally (lies, lies and more lies).

Truth is a developer bought timeshares will bring only 1/3 to 1/4 of what you paid IF it is marketable at all on the resale market (supply and demand). Some timeshares can't even be given away.

[=gailt37]Thanks for the advice. I was shocked by the price they gave me. I would have been happy to get what we paid for it which was half of what they said they could get for it.

These guys are aggressive scam artists!! I put an interest in selling my timeshare and received a call from an Al Davis from IBD. He assured me that I could sell my timeshare and make $5,000 profit! They tell you exactly what you want to hear! He then asked me to send him $799.00 and I told him that I was not comfortable sending money over the phone. He got angry and asked Why not? The balls on these guys!! Anyway he called back about 10 minutes later he said I would only have to send $499.00 and the rest would be taken out at closing. My reply was: Why don't you just get all of it at closing when I make my $5,000 profit? He hung up again and was very angry and said that I was making a mistake. Don't fall for these guys!! they have a lot of negative comments on google.

It doesn't matter what the name of the company is. They are ALL exactly the same. If you answer their calls, they will torment you. If you say no, they will wait 6 months to a year and begin calling again. These people are gooooood. The tell you that this is a prime time to sell and that they have people "waiting" for just your exact timeshare location! They will tell you it is worth more than you paid for it because real estate has gone up, when in fact you will be lucky to get more than 25 cents on the dollar.

I was not really interested in selling, but I was interested in renting, so I paid $600. Although I did listen to their impressive pitch on why I should sell. But before you gasp, I was given such a gooooood deal. More than half off since I only wanted to rent! I never heard from them again. I made numerous phone calls, that were never returned. Seems as though after 3 months, your contract is considered outdated and they don't bother to do anything with your listing. (This is the same if you are selling or renting)

I'm not sure how these people are allowed to stay in business, but I would suggest letters to the BBB in the state they are located. By the way it is about 90% Florida.

My advice is to contact a few local realtors. Some companies have timeshare specialists. If not, contact a realtor in a town near where your property is located. There really are people out there that will only charge you a commission...after they sell your property.

frankm166 wrote:

sheilaswangerworkflowonecoms wrote:

sheilaswangerworkflowonecoms wrote:

I DID AND I THINK THEY ARE A RIP OFF

SO DID YOU LIST WITH THEM AND WHAT HAPPENED ? I HAVE BEEN GETING CALLS FROM A BRIAN DAVIS AND HE PUTS ON A GOOD SALES PITCH, BUT SOMETHING JUST DIDN;T SEEM RIGHT. THEY WANT THE UP FRONT PRICE OF $689 (WITH AN AARP DISCOUNT WHICH I'M NOT OLD ENOUGH TO BE A MEMBER OF ) . WITH ALL THE UP FRONT FEE WARNINGS TOLD OF HERE I HAVEN'T LISTED WITH THEM.

Can anyone tell me if we let it go and foreclose on it...is it the same as foreclosing on a house? I've got it listed with 2 companies and it isnt selling and we're in a real crunch...sad thing is I finally got my credit score up.

I'm afraid your good credit will be soured if they foreclose on you, however there are some resorts that will take deedbacks or they will try to sell your timeshare for you. I would go this route before going into foreclosure. This is assuming your timeshare is paid off?

Also, you could try listing it on Redweek at a marketable price which would be 1/3 to 1/4 of developer price. If you bought from the developer, you will take a huge loss on the resale market in 99.9 % of cases. It's like drving a new car off the showroom floor and the loss you take there, only developer timeshare losses are worse.

bitsyg wrote:

Can anyone tell me if we let it go and foreclose on it...is it the same as foreclosing on a house? I've got it listed with 2 companies and it isnt selling and we're in a real crunch...sad thing is I finally got my credit score up.

I received a call from these folks after completing a request for information. I had a nice talk with a Mr. Olivierre who very quietly walked me down the aisle to the point where I was asked for my credit card info. Being a careful person I declined but did ask for more info. I was guaranteed a sale of my unit, for the marketing fee of $1500, and provided with web site information as well as BBB information. I carefully checked stuff out and then checked to see if there was other timeshares available for sale at my home resort. There was one. I was able to ascertain the owner and found their name on Canada411.com. I called the owner and found similar stories to everyone else here. The business was eager to help, took their money, listed their site and no further contact was afforded. That was 2 YEARS AGO! They were thankful for the information I could provide them and the exercise was enlightening for me. I am not interested in paying a fee up-front. These folks have your money and there is no further incentive to sell. Sure, they would make some additional money if they could sell it but, based on your experiences and the number of units presently on the market, that is not going to happen. That is my 50 cents on the matter (It used to be 2 cents, but inflation ....)

Ray

gailt37 There is no such thing as a timeshare title search. That is a ripoff which I suckered into one time.

walterg27

gailt37 wrote:

There is no such thing as a timeshare title search. That is a ripoff which I suckered into one time.

Actually, when you purchase a timeshare, you engage a lawyer to secure your ownership and make sure that you can sell it, ie it is yours. When a person goes to buy your 'property', they do a search to be sure that you actually own it. That is a title search. That is called due diligence on the part of your lawyer.

jayjay wrote:

I'm afraid your good credit will be soured if they foreclose on you, however there are some resorts that will take deedbacks or they will try to sell your timeshare for you. I would go this route before going into foreclosure. This is assuming your timeshare is paid off?

Also, you could try listing it on Redweek at a marketable price which would be 1/3 to 1/4 of developer price. If you bought from the developer, you will take a huge loss on the resale market in 99.9 % of cases. It's like drving a new car off the showroom floor and the loss you take there, only developer timeshare losses are worse.

bitsyg wrote:

Can anyone tell me if we let it go and foreclose on it...is it the same as foreclosing on a house? I've got it listed with 2 companies and it isnt selling and we're in a real crunch...sad thing is I finally got my credit score up.

Is foreclosure possible if mortgage note is paid, but annual assessments are due and not paid? Will credit be negatively affected if annual assessments are not paid?

rayr36 walterg27

gailt37 wrote:

There is no such thing as a timeshare title search. That is a ripoff which I suckered into one time.

walterg27 rayr36

walterg27 wrote:

gailt37 wrote:

There is no such thing as a timeshare title search. That is a ripoff which I suckered into one time.

I guess I was not detailed enough. When a Timeshare resale company wants a upfront fee to do a title search don't believe them.

You are very much correct! Up-front fees of any kind are just a ruse to get your money. Title search should only be required when the property is in the process of being sold. Thanks for the clarification!

alonsos wrote:

Is foreclosure possible if mortgage note is paid, but annual assessments are due and not paid? Will credit be negatively affected if annual assessments are not paid?

Yes, it is quite possible. Maintenance fees are like any other bill you owe.

sheilaswanger4 wrote:

sheilaswangerworkflowonecoms wrote:

I DID AND I THINK THEY ARE A RIP OFF

SO DID YOU LIST WITH THEM AND WHAT HAPPENED ? I HAVE BEEN GETING CALLS FROM A BRIAN DAVIS AND HE PUTS ON A GOOD SALES PITCH, BUT SOMETHING JUST DIDN;T SEEM RIGHT. THEY WANT THE UP FRONT PRICE OF $689 (WITH AN AARP DISCOUNT WHICH I'M NOT OLD ENOUGH TO BE A MEMBER OF ) . WITH ALL THE UP FRONT FEE WARNINGS TOLD OF HERE I HAVEN'T LISTED WITH THEM.

I rcvd call from Donna Hyde, IBD-Marketing; pushy, asked me for expiration date on my credit card when I had told her I needed to talk to hubby; she said I needed to do this NOW and she would wait. I DID NOT give her any info on my credit card, and told her I would not talk to my husband now, that I would not be pushed into anything. Told her I was looking at reports on "RIPOFF REPORTS" and she immediately said I will call you on Monday and hung up. I've not read anything good about this company, other than the person that wrote an essay in here about them. I WILL NOT DO BUSINESS WITH THEM

bitsyg wrote:

frankm166 wrote:

sheilaswangerworkflowonecoms wrote:

sheilaswangerworkflowonecoms wrote:

I DID AND I THINK THEY ARE A RIP OFF

SO DID YOU LIST WITH THEM AND WHAT HAPPENED ? I HAVE BEEN GETING CALLS FROM A BRIAN DAVIS AND HE PUTS ON A GOOD SALES PITCH, BUT SOMETHING JUST DIDN;T SEEM RIGHT. THEY WANT THE UP FRONT PRICE OF $689 (WITH AN AARP DISCOUNT WHICH I'M NOT OLD ENOUGH TO BE A MEMBER OF ) . WITH ALL THE UP FRONT FEE WARNINGS TOLD OF HERE I HAVEN'T LISTED WITH THEM.

Hire Carla at 1-866-523-5362 , she takes your case and gets your money back using tactics that these companies use. They do all the research and find the contacts to get to the principals of the company and know the right people at the State agencies to get results. Amazing!