Selling Diamond Resorts Timeshare

kathrynh118 wrote:

Just trying to figure out how to sell. The dues and membership are over $2400 and $400.

For one thing, you have to be up to date on your mortgage and maintenance fees. Nobody is going to want to buy a unit that has fees owing on it.

Secondly, you have to figure out what your unit is worth on the resale market. The majority are worth about zero right now. Many owners are having problems giving their units away.

Whether your unit is worth a few thousand or zero, you'll want to advertise your unit for sale or giveaway on an efficient timeshare website. You can start here on RedWeek. You have to pay an annual membership fee of $15. Then you have to pay about $60 for each ad.

Some other good sites are My Resort Network (about $50 for a listing), E-Bay, Craigslist, Timeshare Users Group (free listings with a $15 membership), and BidShares. You might have to advertise that you simply want to give your unit away. If you're motivated and determined to give your unit away, you can offer to pay the closing costs (about $150 through Legal Timeshare Transfers) and even the next maintenance fee.

Just don't fall for any more of these schemes that promise you big bucks for you unit if you pay a large, upfront fee.

Redweek apparently wants me to pay to contact the owners I see in the classified advertisements selling their timeshares, is that right?

dannyn3 wrote:

Redweek apparently wants me to pay to contact the owners I see in the classified advertisements selling their timeshares, is that right?

Yes, you have to pay the annual membership fee of $15. I know many people object to this but it does have an advantage. It keeps most spammers and scam artists out. Most people who contact owners generally have serious inquiries.

Have you tried advertising on Craigslist, for instance. It's free to advertise and respond to ads. But the majority of people who respond are spammers or people attempting to scam.

By the way, if you are looking to rent or buy from a RedWeek member and you can't afford $15, then you probably can't afford to rent or buy.

I can't afford the $1400 maint fee per year plus the $475 fee over year. How in the world do it get out of this nightmare?

Thank you for you response, but I see others say they have difficulty with transfers and the points are only good for the one week. Isn't there any legal company thT deals with these?

My memberships are up to date.

Contact your home resort and see if they will take it back through a " deed back ". I got rid of two timeshares that way. You have to be persistent and make sure you talk to the person who handles those transactions. I told them in no other terms that I was going to get rid of my timeshares with or without their help. I advised them it was in their best interest to work with me and possibly save themselves thousands of dollars in legal fees and lost maintenance fees.

You have to be your own advocate sometimes. You also have options if they don't cooperate. I posted a hypothetical solution in the General Discussion thread. Desperate people are their worst enemies. If a lot of people get frustrated and walk away from their timeshares it could devastate the industry. There should be an exit strategy for people wanting out. They are creating their own trouble by not helping people out.

Tell them they have a choice:

1) they can take a deed back and have the unit to sell or rent to someone else

or

2) you will just stop paying and they will have to go through the expense of foreclosing on you and trying to collect, in which case you will fight them in court using the defense that the timeshare was misrepresented to you (which it almost certainly was) when it was sold to you in the first place.

davidk689 wrote:

...in which case you will fight them in court using the defense that the timeshare was misrepresented to you (which it almost certainly was) when it was sold to you in the first place.

That sounds good in principle but these developers have one huge defense. It does not matter what the sales person said. It's what is written in the contract that counts. If you go by what the sales person said, then it's a matter of he said, she said.

How can you prove that the sales person said what he did? The judge in such a case would have no choice but to go by what was written in the contract. I know it sounds like a helpless situation but them's the breaks!

I want to sell my DRI points. How do I find out how much to ask? I have 10,000 points per year and this year I have an additional 5,000 points and all fees are paid for 2015. I do not know what to do! Help!!!

Oops! I put this in the reply section instead of a new question! See I really do need help!

Laurarene,

You can get an idea of what to ask for your DRI points ownership by going to the Diamond points resale listings to see what other owners are asking per point: DRI Resale Points Page

Any listings marked as "Sold" means the owner has indicated they sold their ownership within the past 60 days.

Please Contact Us if you have further questions or need assistance with listing your timeshare.

Phyllis

Did anyone enjoy owning Diamond Resorts? We rented a condo in Orlando from a friend of my mother's.... it was outstanding. LOVED the resort so much we wanted to stay another night but they were sold out. Ended up moving to another DR down the road....... and guess what......... ANOTHER Fabulous place!! I was hoping to buy my own based on this experience but from what I am reading here, I am not a bit skeptical.

As long as you don't mind the ever increasing maintenance fees and assessments you might like to own. Why own when you can rent and not be obligated to pay all the fees even when your life changes down the road and you are stuck with the timeshare. Trust me five to ten years from now you won't feel the same way you do now.

If they operate in your neck of the woods, visit them with your attorney and tell them if they call one more time you're going to file a harassment lawsuit with emotional damages... jerks.

Staying in a resort is not the same as being an indentured owner of the problems that it creates or the bills that are included... In my opinion DRI is a huge fraud the selling of points has no limit, like selling air... Ask 100 owners if they would ever buy into DRI again, I will bet 95% will say NO

I have 7500 points listed for sale but still have 2 lots of 3000 and 12000 to unload. You can't sell them all at once so you pay 3 times every fee. I even doubt whether these points will sell at my giveaway price ($125). My health is bad and I can no longer travel so how does one get rid of these damn albatrosses hanging from our necks. There must be some legal walk away .

DRI has been taking deedback although they have not been advertising this option. I believe the fee is $250 per contract. Details below:

The financial dept apparently has a Voluntary Surrender Program:

In order to qualify, the HOA (MFs) must be up-to-date and the owner must have a zero balance on the loan.

To start this process, the owner must send an email to: lossmitigation@diamondresorts.com and or leadcollector@diamondresorts.com with the subject line stating: Inventory Takeback.

In the email itself the owner must include: -Resort Name -Owner(s) Name(s) -Account Number -Inventory owned (ie. weeks, points, etc) -any other important information regarding the deed

within 7-10 business days, the Diamond Resorts will send an action required correspondence, where the owner will have 15 days to return.

Note: the owner is responsible for any fees associated with the paper work, such as notary, postage etc.

Edited to add phone number: You can call 877-497-7521, option 1 English, then 3 is direct to Loss Mitigation.

IMPORTANT TO THOSE WANTING TO LEAVE DIAMOND I doubted the facts in this previous message but they are true. I contacted the loss mitigation office and they emailed me instructions to follow.. I sent an email explain why I wished to "walk away" from my 3 contracts totaling 22 500 points. They sent me 3 forms for the 3 contracts which I signed, had notarized and returned them with $250 per contract. That is it. My contracts have been removed and closed and I have no further obligation to Diamond.. Thank you so much for your help. By the way, at every step, the people at Diamond were very polite and helpful Fred MacWilliam

If you deal directly with Diamond you avoid the scammers. I'm glad it worked out for you. Thanks for passing on the information for others who want to get our without getting ripped off by the bottom feeders trolling the forums for victims.

interesting information.