Selling Diamond Resorts Timeshare

Have a buyer lined up and have the two forms Diamond sent us to fill out:

1. Diamond Resorts U.S. Collection Transfer of Membership and 2. PRIOR APPROVAL TO TRANSFER MEMBERSHIP PURCHASER'S INSTRUCTIONS

Share any information you have if you've been through this process before. I will call the resort tomorrow, but just wanted general feedback if anyone is willing to share who've done this before.

Louise; If you still have the forms could you forward them to me? I have called DRI twice and had no luck getting them. I want to transfer my ownership ASAP before buyer changes his mind. Thank You, Reid

louiseb11 wrote:

Have a buyer lined up and have the two forms Diamond sent us to fill out:

1. Diamond Resorts U.S. Collection Transfer of Membership and 2. PRIOR APPROVAL TO TRANSFER MEMBERSHIP PURCHASER'S INSTRUCTIONS

Share any information you have if you've been through this process before. I will call the resort tomorrow, but just wanted general feedback if anyone is willing to share who've done this before.

I no longer have the forms because my deal fell through. I can tell you that the way I got Diamond to send me the forms initially is by taking these steps: 1. file a complaint with the better business bureau 2. File a complaint with the Nevada State Attorney General, the state in which Diamond home offices are located; 3. File a complaint with state and federal legislators 4. File a complaint with the Nevada real estate licensing agency Then I notified Diamond of my actions via the generic contact form they had on their website.

Sound like a lot of work? You bet it was but it's the only way I was able to get Diamond to pay any attention to my requests. If I have to go through this process again I would think about taking the additional step of writing a letter to various news entities letting them know how opaque and uncooperative this particular timeshare company is when buyers are trying desperately to sell their timeshare.

Thanks for the info - I appreciate it! Sorry your deal fell through.

So sorry to hear of your experience. I am blown away that they created such a difficult experience for you. They seem so accommodating when you're booking travel, let alone when one buys the timeshare.

I've had mine for nearly 4 years and am looking to sell it. It seems like it's not only difficult to locate a potential buyer but a complete hassle to work with DR. And they make millions.

ATTN: All Poipu Deeded & Points owners

COPP is presenting some thoughts about the situation we all find ourselves in...

There is strong evidence of water damage at our resort. That is an unfortunate fact. DIAMOND RESORTS INTERNATIONAL has stated definitively and repeatedly that anyone currently affiliated with our resort is responsible for their share of the "Water Intrusion Assessment," or approximately $5,800 per interval owned.

DIAMOND RESORTS INTERNATIONAL has stated that failure to pay your assessment will result in foreclosure on your interval. HOWEVER, they have also indicated that they will pursue, through means including collections, your portion of the water intrusion assessment even after foreclosure. In other words, as it stands right now, only by paying your assessment can you avoid collections action.

Fast Answers: There have been internet postings where an owner at Poipu has been told by a company that if they paid them, they would take their interval and file a class action lawsuit to relieve them of their responsibility for the assessment. Our advice is to remain sceptical. They will have your deed and you are still responsible for the assessment. Remember, IF IT IS NOT IN WRITING, YOU HAVE NOTHING! Even then, it might only be worth the paper it is written on. Another owner posted that he was told by DIAMOND RESORTS INTERNATIONAL that if they were to walk away he would not be held responsible for his maintenance fees. Remember, your "MAINTENANCE FEE" is different from your "WATER INTRUSION ASSESSMENT." If you walk away now, you will lose your deed and yet you are still responsible for the water intrusion assessment. Pay attention to the details! We have seen emails forwarded to COPP by other owners, that if you pay $8,960.00 you can purchase points and GIVE THEM YOUR DEED! The down payment is $2,900.00 (more than your first installment on the assessment!) and a monthly payment of $227). Now you no longer OWN A DEEDED PROPERTY. BUT, you are now liable for almost half again as much as the assessment AND, they have your deed!

Suggestions: Monitor the internet for information regularly. Check out RedWeek.com and you will see that there are points owners being assessed just like the deeded owners. Make certain that you understand that there is no guarantee that you will not be hit with an assessment in the future AND you will also see lots of points owners being rocked by enormous increases in their annual fees. www.poipuowners.org is your website – make sure your register! This will put you on our mailing list and give you the most recent information on what is happening. Follow discussions regularly at the following: https://www.facebook.com/pointatpoipu https://blog.poipuowners.org

check these items on Google Diamond Resorts International Problems Diamond Resorts International Lawsuit Diamond Resorts Problems Diamond Resorts Lawsuit Poipu Owners Group Poipu Owners Lawsuit

Here is the announcement for which we have all been waiting! The lawsuit has been filed! It was filed Friday in Federal District Court in Hawaii. COPP will be mailing out a note with the lawsuit attached. It will also be going up on our website. I think that we will have DRI's attention now! What did Mr. C say? Yes, that's right, there are "10" unhappy customers. We'll see...

louiseb11 wrote:

I no longer have the forms because my deal fell through. I can tell you that the way I got Diamond to send me the forms initially is by taking these steps: 1. file a complaint with the better business bureau 2. File a complaint with the Nevada State Attorney General, the state in which Diamond home offices are located; 3. File a complaint with state and federal legislators 4. File a complaint with the Nevada real estate licensing agency Then I notified Diamond of my actions via the generic contact form they had on their website.

Sound like a lot of work? You bet it was but it's the only way I was able to get Diamond to pay any attention to my requests. If I have to go through this process again I would think about taking the additional step of writing a letter to various news entities letting them know how opaque and uncooperative this particular timeshare company is when buyers are trying desperately to sell their timeshare.

Diamond will make it as hard as possible to sell any points as it cuts into their sale program, and if you can find a willing buyer, they will make it difficult for them to use their points in anything but the Hawaii Collection... With the closing of several buildings for their Water Intrusion project, reservations in the Hawaii Collection will be harder to get, and they cannot exchange them, or at least DRI will make that very hard... The whole timeshare industry is beginning to get difficult and the realities of this business do not promote confidence in the business model (Points) that they have chosen...

The old model of "the number of Units multiplied by the number of weeks available 50- 51 with one for maintainence) does not provide any additional profits for the promoter, but with points they can sell and sell far beyond what unit / weeks they have... Its like selling air

It's like selling air ...but less ethical!

I have now read the Federal Class Action lawsuit filed by the lawyers on behalf of COPP and its members... Congratulations, this is a well thought out complaint, very well documented as to the claims of all of those concerned.. I want to publically thank Kieth Paulsen and the COPP board of directors for a job very well done... I believe that if you have the staying power, you will be successful as the truth will support its success... It will be a long struggle as DRI will stall and obfuscate, they will delay and challenge at every junction of this journey, but in the end this will shed a huge light on the Time Share Industry... Thanks from all of us who doubted

Mr. Steve C of DRI Is just following the tactics of other jerk wad business people he has been associating with. Why do you think he's in the mob capital of the west.. And conducts his business just like other "Don's".

Diamond resorts also charges a $250 transfer fee and does most of the title work in house. I have personally transferred them multiple times. The process is fairly easy.

Would you be interested in talking to be for a story I am writing for Reuters about re-selling timeshares, and how difficult it can be? email me at heather.struck@thomsonreuters.com if you are available this week.

louiseb11 wrote:

I no longer have the forms because my deal fell through. I can tell you that the way I got Diamond to send me the forms initially is by taking these steps: 1. file a complaint with the better business bureau 2. File a complaint with the Nevada State Attorney General, the state in which Diamond home offices are located; 3. File a complaint with state and federal legislators 4. File a complaint with the Nevada real estate licensing agency Then I notified Diamond of my actions via the generic contact form they had on their website.

Sound like a lot of work? You bet it was but it's the only way I was able to get Diamond to pay any attention to my requests. If I have to go through this process again I would think about taking the additional step of writing a letter to various news entities letting them know how opaque and uncooperative this particular timeshare company is when buyers are trying desperately to sell their timeshare.

I am figuring out how to sell my mother's points in Diamond Resorts US Collection as her health makes travel difficult and she is not able to use it. Given you sold multiple, did you find buyers via RedWeek? Are there any pointers you can offer? Is there anything I should be aware of? I'm just scratching the surface of this endeavor so any information you can offer to make this go smoothly is greatly appreciated.

mm273 wrote:

Are there any pointers you can offer? Is there anything I should be aware of?

Yes! Never, ever pay anyone a large, upfront fee to sell, rent out, market, or "cancel" your timeshare. When people are desperate to sell their timeshare, the blood-sniffing sharks start inundating owners with all these wild promises to sell your timeshare interests for a huge fee only to not perform.

Remember, timeshare interests, like the one your mother has, is probably worth very little on the resale market right now. I don't know exactly what she has but you or she may have to advertise that you just simply want to give it away.

I sold my Diamond Resorts Timeshare on Ebay at the end of December 2011 for $2. The timeshare had a balance of 9000 points, plus I paid the $450 maintenance fees through the end of 2012. The deed finally transferred a couple weeks ago, and the buyer just found out that the points don't transfer (he has 0 points for 2012, and 6000 points for 2013). Plus, because his account is "new", he has to pay $713 maintenance fees for 2012.

Has anyone else had this experience?

Can someone clarify what you can actually transfer? If I buy points resale, can I use the points anywhere, or just within the collection or location you purchased? I was told (by a DRI employee) that if you buy resale, then you can not use the points in "The Club", you only have access to your location (if deeded), or your collection.

Can anyone verify true or false?

Thanks, Andrew

andyoo wrote:

Can someone clarify what you can actually transfer? If I buy points resale, can I use the points anywhere, or just within the collection or location you purchased? I was told (by a DRI employee) that if you buy resale, then you can not use the points in "The Club", you only have access to your location (if deeded), or your collection.

Can anyone verify true or false?

Thanks, Andrew

This is true! DRI limits the use of resale points to the collection you bought from. You will not have access to all of DRI's internal system of resorts. The same with a deeded week. You would only have access to your week. You can use your week through Interval International or rent it, but that is it.

I would negotiate with DRI to bring resale points into the Club. I have heard that you can negotiate up until a certain amount of time to bring the points in, but you will have to buy some of DRI points to do that.

I'm disheartened at what i'm reading. Basically, you cannot sell your timeshare. I bought a "half" a timeshare at $10,000 which equates to 2,500 points per year. (and by Steve C. who was mentioned above) My point balance is 5,000 and i just found out if you don't use them yearly, you LOSE them!!! Just like if you don't call around June to roll over points you didn't use, you'll lose those. what i find funny, is they have no problem reminding you that you owe your yearly maintenance fee. I'm so disgusted. I was considering not paying the maintenance fee anymore; but, that means they'll ding my perfect credit. AND i lost $10,000. Seems like a lawsuit could be in order. They are bullies.

and yes, i called sellmytimesharenow.com and ALMOST paid them the $1,800 to sell my timeshare until i did more research. and they're from Dover, NH! where i'm from! (doesn't make a difference but what a small world) Now they won't stop calling me even after i told them 'hell no!'

any advice?