Buying timeshares (even resale)

jenniferc190 wrote:

I am interested in purchasing the Westin Ka'anapali Ocean Resort Villas. I am fairly new at the timeshare concept and will appreicate all opinions. I am quite impressed with the SPG program and am already a gold member.

I am wondering if I should wait for the North Villas resales to become more available or purchase "pre owned" ones on the existing buildings. I am also wondering if I am better off purchasing the "resale" ones from the developer. I do realize that the price will be higher the then general resale market but it may offer some perks that I may be interested in. Also, I find the annual fees + taxes being almost $2000 is quite high, I am wondering if I am better off just renting. Thanks for you thoughts on this.

The Westin Ka'anapali is a beautiful property and the maint. fees seem high but look at the cost to rent this timeshare. Most people on the resale market charge between $3,000 to $5,000 for the original and the north villas gather more. The property can be very profitable if you rent on a yearly basis. These propertys rent VERY well!

deborah820 wrote:

jenniferc190 wrote:

I am interested in purchasing the Westin Ka'anapali Ocean Resort Villas. I am fairly new at the timeshare concept and will appreicate all opinions. I am quite impressed with the SPG program and am already a gold member.

I am wondering if I should wait for the North Villas resales to become more available or purchase "pre owned" ones on the existing buildings. I am also wondering if I am better off purchasing the "resale" ones from the developer. I do realize that the price will be higher the then general resale market but it may offer some perks that I may be interested in. Also, I find the annual fees + taxes being almost $2000 is quite high, I am wondering if I am better off just renting. Thanks for you thoughts on this.

This is what I have done, I purchased a resale at a location that I wanted. I used an online timeshare resale site. I had not one problem with them. The transfer of the deed was done with ease by them and I received it in a timely manner. I also, got this time share at a very reasonable price. My yearly fees are managable. The unit I purchased was exactly as it was told on this resale site and they made sure I understood what I was purchasing. I purchased a one bedroom in a specific location within this resort and that is exactly what I got. This Timeshare is a Starwood Resort that is also a five star Resort. I have enjoyed it two years now and I am headed for our third. The unit rents for triple what I pay in Maintenace fees in a week. The only thing with purchasing a resale with the Starwood resorts that I found the hard way is that you aren't able to use there own Starwood Network for exchange of your unit for another Starwood Resort in another location. This is Starwood's rules. Anyone with a repurchase not from the Starwood resort, such as a repurchase from a past owner you do not get the Starwood transfer or upgrade benefits. Which as an owner I feel is wrong. I do have a deeded timeshare with a red week and it also can be used as a float. But, I am not allowed to use the Starwood vacation network. So I just use RCI. That is the only drawback that I have found. I hope this helped you.

You seemed very happy with the resale organization you purchased from. Would you mind sharing the name of that company. I am wanting to sell my timeshare in Canada for medical reasons. The fellow at Timeshare Adventure sure is high pressure sales, apparently , according to him, all the paperwork and documentation to support his sales pitch. After reading this forum,,,sure does make me wonder. Would love to find out the resale company that you were so pleased with. Thanks

megy, please be aware that the poster above BOUGHT their timeshare from a resale company, she was not SELLING her timeshare.

If this resale company charges a large upfront fee (in the hundreds) to sell then I wouldn't do business with them. Upfront fee resale companies are notorious for taking your upfront fee and then you never hear from them again.

You can do just as well by listing your timeshare on Redweek or one of the other internet timeshare listing sites and save yourself a LOT of money. Remember to price your timeshare reasonably.

jayjay wrote:

megy, please be aware that the poster above BOUGHT their timeshare from a resale company, she was not SELLING her timeshare.

If this resale company charges a large upfront fee (in the hundreds) to sell then I wouldn't do business with them. Upfront fee resale companies are notorious for taking your upfront fee and then you never hear from them again.

You can do just as well by listing your timeshare on Redweek or one of the other internet timeshare listing sites and save yourself a LOT of money. Remember to price your timeshare reasonably.

Sorry for the misunderstanding jayjay. Yeah, the more I read on this forum about up front fees, the more I am simply going to refuse to pay anyone for this scam!! Then, I googled "no upfront fee timeshare resale". That was a joke as well. Oh yeah, no "upfront" fee, but they state a "one time fee". LIke duh!!! what's the difference. Where are the honest people anymore. I guess I will just keep trying to sell on my own. I already dropped my price on my redweek posting, but really,,,do not want to go any lower. What I have is definitely worth what I am asking, (at less than 1/2 of what I paid). I just wish there was more action/interest for Canadian Timeshares. I guess I am just not tapping into "Canadian " people, as most on this board are u.s. as well. Thanks for your help, keep up the good work in warning people.

megy wrote:

Yeah, the more I read on this forum about up front fees, the more I am simply going to refuse to pay anyone for this scam!!

Sadly the Resort wants you to keep your timeshare. The resort will continue to make you pay your maintenance fees for the rest of your life. The longer you keep the timeshare the more money that is being bled from your pocket. And BTW those fees DON'T decrease but increase over time. If Redweek doesn't bring a buyer you will still have to pay them for membership and listing fees as well (I know the cost is minimal but it's still a waste if you don't get results). Think what you want about other services, but like any consumer you should do your homework on a company instead of using other peoples bias opinions on that company (facts speak louder than opinions or words).

Here is recommended research you should do before investing time or money with any company

1. Check their reputation (BBB, if company is online, alexa.com) 2. If they work online check their traffic and offer records. 3. Review all details to the agreement VERY carefully 4. Spend time on search engines acting like a buyer and take note of companies that consistently rank at the top of natural results (80% of people use top ranked Nat. results and if the company is easily found buyers are most likely going to be shopping there)

It also doesn't hurt to keep utilizing the free and cheap websites (Redweek, Myresort network, tug, etc.) while working with a professional organization (if you chose that route).

Quote:

megy, please be aware that the poster above BOUGHT their timeshare from a resale company, she was not SELLING her timeshare.

Last but not least, if someone bought a timeshare from an "upfront website" it means the person that listed on that site got their timeshare sold!

I know Jayjay will have something to say; but I miss the debate and bashing :D

megy wrote, quoted in pertinent part:

>> I already dropped my price on my redweek posting, but really,,,do not want to go any lower. What I have is definitely worth what I am asking, (at less than 1/2 of what I paid). <<

I don't seek to be the "prophet of doom" here, I just want to interject an objective word of advice. It is a VERY soft market for timeshare right now, with weeks and points both selling for pennies on the dollar in many instances and many places. What your product is "worth" in the current marketplace really has no relationship AT ALL to whatever you may have paid. What your timeshare is currently "worth" is what someone is willing to pay you for it TODAY, plain and simple. I wish you good luck in selling, but you may have to just continually lower your price until it reflects market value and generates interest. Smart buyers don't care what YOU paid, as it has no bearing at all on what THEY are now willing to pay........

eric, we already know that you work for an upfront fee resale company that quotes on their website that they do not charge an upfront fee, but when a prospective client talks to you, you tell them you do charge an upfront marketing fee in the hundreds (false advertising on your website since any upfront fee is one and the same).

People are begging for a reputable company to sell their timeshares and for that company to take any fees after they sell, not before.

There is huge money to be made in such a reputable company, but the agents would have to work to earn their commission, unlike upfront fee resale companies who take your money, list your timeshare in a computer database and wait for someone to come along that might be interested.

megy, there are a couple of companies that I have found on the internet that do not charge an upfront fee, but they do charge a flat commission of $1500 if they sell or 15% of the selling price if over 10K. I have them listed under the thread 'no upfront fee resale companies' here in the buying, renting and selling forum.

eric572 wrote:

Sadly the Resort wants you to keep your timeshare. The resort will continue to make you pay your maintenance fees for the rest of your life. The longer you keep the timeshare the more money that is being bled from your pocket. And BTW those fees DON'T decrease but increase over time. If Redweek doesn't bring a buyer you will still have to pay them for membership and listing fees as well (I know the cost is minimal but it's still a waste if you don't get results). Think what you want about other services, but like any consumer you should do your homework on a company instead of using other peoples bias opinions on that company (facts speak louder than opinions or words).

Here is recommended research you should do before investing time or money with any company

1. Check their reputation (BBB, if company is online, alexa.com) 2. If they work online check their traffic and offer records. 3. Review all details to the agreement VERY carefully 4. Spend time on search engines acting like a buyer and take note of companies that consistently rank at the top of natural results (80% of people use top ranked Nat. results and if the company is easily found buyers are most likely going to be shopping there)

It also doesn't hurt to keep utilizing the free and cheap websites (Redweek, Myresort network, tug, etc.) while working with a professional organization (if you chose that route).

Quote:

megy, please be aware that the poster above BOUGHT their timeshare from a resale company, she was not SELLING her timeshare.

Last but not least, if someone bought a timeshare from an "upfront website" it means the person that listed on that site got their timeshare sold!

I know Jayjay will have something to say; but I miss the debate and bashing :D

megy, Ken hit the nail on the head. No matter what you may have paid for your timeshare initially has nothing to do with what it is worth today.

The market (buyer) sets the price for any timeshare. A developer bought timeshare, when sold on the resale market, typcially runs 1/4 to 1/3 of what you paid the developer, and that is IF your resort/season/week is even marketable at all. There are millions of developer bought timeshares that people can't even give away in today's market.

As Ken stated, the market is very soft now as is evidenced with the hundreds of timeshare weeks selling for a mere $1 on Ebay. My perspective on the soft market is caused by the hundreds of new timeshares being built as we speak and in the last few years.

There's beginning to be market saturation of timeshare resorts. I see a continuation of a soft market due to current and future saturation.

ken1193 wrote:

I don't seek to be the "prophet of doom" here, I just want to interject an objective word of advice. It is a VERY soft market for timeshare right now, with weeks and points both selling for pennies on the dollar in many instances and many places. What your product is "worth" in the current marketplace really has no relationship AT ALL to whatever you may have paid. What your timeshare is currently "worth" is what someone is willing to pay you for it TODAY, plain and simple. I wish you good luck in selling, but you may have to just continually lower your price until it reflects market value and generates interest. Smart buyers don't care what YOU paid, as it has no bearing at all on what THEY are now willing to pay........

vlahos wrote:

THERE ARE COMPANY TO BE CAREFUL WITH! be very very careful,with this company.

Timeshare Adventures,inc.

everthing when wrong with my transaction. was not a 2 bedroom, it was a one bedroom. was not floating, it was week 2. was charge, 2006 maintance fee, that should not have been charge. contacted this company. that it was my mistake, not theirs. stay away.

just got former owners tax bill in my name, for 2005 and 2006 with all the penalties. do these poeple know what they are doing?

again stay away for this company.

Timeshare Adventures,inc.

Is Timeshare Adventures,inc a licensed real estate broker?

I always wonder why someone would buy from someone other than a licensed real estate broker.

Larry

pat12468 wrote:

vlahos wrote:

THERE ARE COMPANY TO BE CAREFUL WITH! be very very careful,with this company.

Timeshare Adventures,inc.

everthing when wrong with my transaction. was not a 2 bedroom, it was a one bedroom. was not floating, it was week 2. was charge, 2006 maintance fee, that should not have been charge. contacted this company. that it was my mistake, not theirs. stay away.

just got former owners tax bill in my name, for 2005 and 2006 with all the penalties. do these poeple know what they are doing?

again stay away for this company.

Timeshare Adventures,inc.

Is Timeshare Adventures,inc a licensed real estate broker?

I always wonder why someone would buy from someone other than a licensed real estate broker.

Larry

pat12468 wrote:

vlahos wrote:

THERE ARE COMPANY TO BE CAREFUL WITH! be very very careful,with this company.

Timeshare Adventures,inc.

everthing when wrong with my transaction. was not a 2 bedroom, it was a one bedroom. was not floating, it was week 2. was charge, 2006 maintance fee, that should not have been charge. contacted this company. that it was my mistake, not theirs. stay away.

just got former owners tax bill in my name, for 2005 and 2006 with all the penalties. do these poeple know what they are doing?

again stay away for this company.

Timeshare Adventures,inc.

Is Timeshare Adventures,inc a licensed real estate broker?

I always wonder why someone would buy from someone other than a licensed real estate broker.

Larry

I would think that they are not a licenced real estate company, but what do I know. They were on the net under resales. The fellow from Timeshare Adventure called me at least 3 times,,nice at first, then getting a little "not so nice" Obviously wanted me to pay him his up front fee to do what??? Advertise of course!! I offered to pay him after the sale,,,but no go,,,,OF COURSE> Just like all the others. Oh well,,,,I will keep trying to market myself. In Canada there are not many licenced real estate brokers that even touch resales of timeshares, but,,,,maybe that is different in the states.

megy, kudos to you :o) !

vlahos wrote:

zimmer1 wrote:

vlahos wrote:

THERE ARE COMPANY TO BE CAREFUL WITH! be very very careful,with this company.

Timeshare Adventures,inc.

everthing when wrong with my transaction. was not a 2 bedroom, it was a one bedroom. was not floating, it was week 2. was charge, 2006 maintance fee, that should not have been charge. contacted this company. that it was my mistake, not theirs. stay away.

just got former owners tax bill in my name, for 2005 and 2006 with all the penalties. do these poeple know what they are doing?

again stay away for this company.

Timeshare Adventures,inc.

get with your title company and or read the title policy depending on when you purchased your title insurance may be responsible for some of this, compare this stuff with your deed. all the info you just stated is on these documents, you should have been required to sign them before the documents were registered at the ole taxation dept whatever the county seat and st the property is located in...closing should not have taken place without your signiture in place

you assume that a company like: timeshare adventures, inc. with a in-house title company would be responsable for their work. this company washed there hands of the whole thing. with "gaurities" all over their web page, you would thing that they would do there vary best to fix anything that was not done right. most people who pay $450 for closing assume that the papers that you sign are done right.I was wrong to believe that TIMESHARE ADVENTURES, INC. was a honest company. and it cost me dearly.

Better Business Bureau 151 Wymore Road, Suite 100, Altamonte Springs, FL 32714 (407) 621-3300 www.orlando.bbb.org

Department of Business and Professional Regulation 1940 N. Monroe Street, Tallahassee, FL 32399-0750 (407) 245-0800 www.state.fl.us/dbpr http://www.state.fl.us/dbpr/re/forms/re-2200.pdf

http://fcn.state.fl.us/dbpr/lsc/timeshare/forms/complaint_english.pdf http://fcn.state.fl.us/dbpr/lsc/timeshare/information/faq_resale.shtml

ARDA (American Resort Development Association) 200 E. Robinson Street, Suite 1170, Orlando, FL 32801 (407) 245-7601 www.arda.org http://www.arda.org/apps/cnsmrs/complaints/

Osceola County State Attorney (407) 343-3200

U.S. Office of Consumer Affairs 750 17th Street NW, Washington DC 20006 1-800-644-4435 gopher://marvel.loc.gov/00/federal/fedinfo/byagency/executive/consumer/usoca.helpline

Office of Attorney General Bob Butterworth State of Florida, The Capitol, Tallahassee, FL 32399-1050 http://www.state.fl.us/itflorida/bobbutterworth.html

timesharejudi wrote:

vlahos wrote:

zimmer1 wrote:

vlahos wrote:

THERE ARE COMPANY TO BE CAREFUL WITH! be very very careful,with this company.

Timeshare Adventures,inc.

everthing when wrong with my transaction. was not a 2 bedroom, it was a one bedroom. was not floating, it was week 2. was charge, 2006 maintance fee, that should not have been charge. contacted this company. that it was my mistake, not theirs. stay away.

just got former owners tax bill in my name, for 2005 and 2006 with all the penalties. do these poeple know what they are doing?

again stay away for this company.

Timeshare Adventures,inc.

get with your title company and or read the title policy depending on when you purchased your title insurance may be responsible for some of this, compare this stuff with your deed. all the info you just stated is on these documents, you should have been required to sign them before the documents were registered at the ole taxation dept whatever the county seat and st the property is located in...closing should not have taken place without your signiture in place

you assume that a company like: timeshare adventures, inc. with a in-house title company would be responsable for their work. this company washed there hands of the whole thing. with "gaurities" all over their web page, you would thing that they would do there vary best to fix anything that was not done right. most people who pay $450 for closing assume that the papers that you sign are done right.I was wrong to believe that TIMESHARE ADVENTURES, INC. was a honest company. and it cost me dearly.

You should report this to everyone you can and on every group you can so that everyone knows the scam. The Bureau of Timeshare 1-800-226-9101

Better Business Bureau 151 Wymore Road, Suite 100, Altamonte Springs, FL 32714 (407) 621-3300 www.orlando.bbb.org

Department of Business and Professional Regulation 1940 N. Monroe Street, Tallahassee, FL 32399-0750 (407) 245-0800 www.state.fl.us/dbpr http://www.state.fl.us/dbpr/re/forms/re-2200.pdf

http://fcn.state.fl.us/dbpr/lsc/timeshare/forms/complaint_english.pdf http://fcn.state.fl.us/dbpr/lsc/timeshare/information/faq_resale.shtml

ARDA (American Resort Development Association) 200 E. Robinson Street, Suite 1170, Orlando, FL 32801 (407) 245-7601 www.arda.org http://www.arda.org/apps/cnsmrs/complaints/

Osceola County State Attorney (407) 343-3200

U.S. Office of Consumer Affairs 750 17th Street NW, Washington DC 20006 1-800-644-4435 gopher://marvel.loc.gov/00/federal/fedinfo/byagency/executive/consumer/usoca.helpline

Office of Attorney General Bob Butterworth State of Florida, The Capitol, Tallahassee, FL 32399-1050 http://www.state.fl.us/itflorida/bobbutterworth.html

We have had good luck with this company. Seth Nock Licensed Broker http://www.sellingtimeshares.net

They are listed on Tug as well and we have not heard anything bad. Libby

libby31 wrote:

We have had good luck with this company. Seth Nock Licensed Broker http://www.sellingtimeshares.net

They are listed on Tug as well and we have not heard anything bad. Libby

Seth/Libby, this thread is getting confusing to read. Which company are you saying you have had good luck with?

Larry

pat12468 wrote:

libby31 wrote:

We have had good luck with this company. Seth Nock Licensed Broker http://www.sellingtimeshares.net

They are listed on Tug as well and we have not heard anything bad. Libby

Seth/Libby, this thread is getting confusing to read. Which company are you saying you have had good luck with?

Larry

Hi Larry, I am Libby and I have had good results working with Seth Nock. I hope that helps. Libby

libby31 wrote:

pat12468 wrote:

libby31 wrote:

We have had good luck with this company. Seth Nock Licensed Broker http://www.sellingtimeshares.net

They are listed on Tug as well and we have not heard anything bad. Libby

Seth/Libby, this thread is getting confusing to read. Which company are you saying you have had good luck with?

Larry

Hi Larry, I am Libby and I have had good results working with Seth Nock. I hope that helps. Libby

Hi Libby. Is Seth at Selling Timeshares.com another up front fee situation??? You failed to mention what the conditions were with this company. Upfront, commission after sales, etc.etc. Like what is it costing you? Honestly, since I decided to sell my timeshare in Collingwood, Ontario , Canada, and then started looking on the computer to see if there were any companies to do that my eyes have been forever opened. All the sales pitches were,,,"we are the best on the web" ," we have paid big bucks to have our name appear on front page of google", "if another company sells or you sell before us,,you get all your money back",,blah, blah, blah. When I turn around and ask what guarantees.....yep, you guessed it,,,more B.S.!!! Replies like" well, I don't know,,we are so busy, we usually always have it sold in less than 3 months". My question is: to all these companies that I said "No-way" to upfront fees,,,,why are they still calling me almost every day trying to get my money???" I asked one guy,,,,why are you still calling me....I thought you said you were so busy you didn't need my business" GOOD BYE!!!

Libby if this is another company that asks for upfront fees, I sure would like to know. If they are,,,I won't even waste my time.

Thanks Meg

megy wrote:

libby31 wrote:

pat12468 wrote:

libby31 wrote:

We have had good luck with this company. Seth Nock Licensed Broker http://www.sellingtimeshares.net

They are listed on Tug as well and we have not heard anything bad. Libby

Seth/Libby, this thread is getting confusing to read. Which company are you saying you have had good luck with?

Larry

Hi Larry, I am Libby and I have had good results working with Seth Nock. I hope that helps. Libby

Hi Libby. Is Seth at Selling Timeshares.com another up front fee situation??? You failed to mention what the conditions were with this company. Upfront, commission after sales, etc.etc. Like what is it costing you? Honestly, since I decided to sell my timeshare in Collingwood, Ontario , Canada, and then started looking on the computer to see if there were any companies to do that my eyes have been forever opened. All the sales pitches were,,,"we are the best on the web" ," we have paid big bucks to have our name appear on front page of google", "if another company sells or you sell before us,,you get all your money back",,blah, blah, blah. When I turn around and ask what guarantees.....yep, you guessed it,,,more B.S.!!! Replies like" well, I don't know,,we are so busy, we usually always have it sold in less than 3 months". My question is: to all these companies that I said "No-way" to upfront fees,,,,why are they still calling me almost every day trying to get my money???" I asked one guy,,,,why are you still calling me....I thought you said you were so busy you didn't need my business" GOOD BYE!!!

Libby if this is another company that asks for upfront fees, I sure would like to know. If they are,,,I won't even waste my time.

Thanks Meg

Hi Meg, I know Seth from buying a timeshare. He works on commission only and has given me advice many times on places to stay away from and what was too high an asking price. He was very good with us and I have never read anything bad about him. I agree with you completely that anyone that asks for an up front fee is someone you should RUN away from. He is liscened in NY so I am not sure if he can sell a Canadian property or not. If you call or email him he will get right back to you with an answer though. I hope this helps. Libby

vlahos wrote:

THERE ARE COMPANY TO BE CAREFUL WITH! be very very careful,with this company.

Timeshare Adventures,inc.

everthing when wrong with my transaction. was not a 2 bedroom, it was a one bedroom. was not floating, it was week 2. was charge, 2006 maintance fee, that should not have been charge. contacted this company. that it was my mistake, not theirs. stay away.

just got former owners tax bill in my name, for 2005 and 2006 with all the penalties. do these poeple know what they are doing?

again stay away for this company.

Timeshare Adventures,inc.

That's why you buy from a developer such as Marriott!

You get what you pay for. If you are tired of playing games with cheap timeshare and having to worry about finding a rental that is only going up in cost each and every year. Buying a resale is like buying a 3 wheeled car with no warranty. Trust me i did it once. Buy from a major developer and stop worrying and start vacationing. I've owned for 10 years and I've been everywhere. 5 star only and never have had a problem. The fees go up of course, but not at the pace of rental values in peak seasons, and prime locations.