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- Global Vacation Trade - Miami, Florida
Global Vacation Trade - Miami, Florida
I think I made a "really big" mistake while in Nuevo Vallarta a couple weeks ago. I purchased a Vacation Club Membership at the Royal Mayan. They gave me 3 weeks per year for 25 yrs. in a 2-bdr lock off unit. Resort was beautiful and I fell for it. Cost about $78,000 and traded in 2 of my timeshares in Las Vegas as part of the down payment. The trade-in price was not listed in the contract (only the price after deducting the so called "value" of my time shares). They said Global Vacation Club would call me within 30 days and all I had to do is pay $425 for each time share traded in, and send them proof of ownership.
I feel they could try to sell my time shares and if not, I will still be on the hook for the annual maintenance fees. HELP - ANYONE KNOW THIS COMPANY?
Shirley S.
shirleys204 wrote:I think I made a "really big" mistake while in Nuevo Vallarta a couple weeks ago. I purchased a Vacation Club Membership at the Royal Mayan. They gave me 3 weeks per year for 25 yrs. in a 2-bdr lock off unit. Resort was beautiful and I fell for it. Cost about $78,000 and traded in 2 of my timeshares in Las Vegas as part of the down payment. The trade-in price was not listed in the contract (only the price after deducting the so called "value" of my time shares). They said Global Vacation Club would call me within 30 days and all I had to do is pay $425 for each time share traded in, and send them proof of ownership.I feel they could try to sell my time shares and if not, I will still be on the hook for the annual maintenance fees. HELP - ANYONE KNOW THIS COMPANY?
Never heard of this outfit, but you said you traded in 2 Vegas timeshares as a down payment. This would raise a red flag with me .... what kind of agreement/contract did you sign turning the timeshares over to them? Even though you said you traded in the 2 Vegas timeshares what is the proof of that .... you may still own them and may still owe all future fees involved. You said they were part of the down payment .... did you pay down money also? I would call your 2 Vegas resorts and tell them to halt any transfer.
And I would halt this transaction ASAP .... NO timeshare or travel club on earth is worth $78,000. Do not send them a copy of your ownership deeds and do not send them any money.
Please keep us informed.
R P.
All I received was a "Vacation Trade Agreement" for each 1 bedroom Vegas timeshare for trade. I have contacted the Global Vacation Trade Co. and they say they will call within 30 days from my purchase and request proof of ownership, then it will take about 4 months to put the transfer through and I will owe $425 for each unit (2). I not only agreed to trade in my (2) Tahiti Village 675 sq. ft. units, but they also charged my credit card for $13,770. I am disputing the charge, but since I am past the 5-day recision period, I probably can't do much. However, The Vida Group sales person represented I was purchasing in Nuevo Vallarta with the right to use any of the Mayan properties, but actually put The Grand Mayan in Cancun on my contract. Cost to use the 2-bedroom is $1049 per week even though I paid $78,000....I was crazy to sign up for this and think I will just take the loss of $13,770 and get out of this.
Shirley S.
shirleys204 wrote:All I received was a "Vacation Trade Agreement" for each 1 bedroom Vegas timeshare for trade. I have contacted the Global Vacation Trade Co. and they say they will call within 30 days from my purchase and request proof of ownership, then it will take about 4 months to put the transfer through and I will owe $425 for each unit (2). I not only agreed to trade in my (2) Tahiti Village 675 sq. ft. units, but they also charged my credit card for $13,770. I am disputing the charge, but since I am past the 5-day recision period, I probably can't do much. However, The Vida Group sales person represented I was purchasing in Nuevo Vallarta with the right to use any of the Mayan properties, but actually put The Grand Mayan in Cancun on my contract. Cost to use the 2-bedroom is $1049 per week even though I paid $78,000....I was crazy to sign up for this and think I will just take the loss of $13,770 and get out of this.
As I stated above .... no timeshare on earth is worth $78,000 even in the best economy much less in this poor economy. If you think you have been scammed by this company then you need to file a complaint with the attorney general of Florida .... you can google for contact info and you can file your complaint online.
I have to ask why you would sign a contract for $78,000 and would be forced to pay $1049 per week of usage. This doesn't even sound plausible .... did this not occur to you when you signed the contract without researching backwards and forwards with that kind of money involved?
R P.
shirleys204 wrote:All I received was a "Vacation Trade Agreement" for each 1 bedroom Vegas timeshare for trade. I have contacted the Global Vacation Trade Co. and they say they will call within 30 days from my purchase and request proof of ownership, then it will take about 4 months to put the transfer through and I will owe $425 for each unit (2). I not only agreed to trade in my (2) Tahiti Village 675 sq. ft. units, but they also charged my credit card for $13,770. I am disputing the charge, but since I am past the 5-day recision period, I probably can't do much. However, The Vida Group sales person represented I was purchasing in Nuevo Vallarta with the right to use any of the Mayan properties, but actually put The Grand Mayan in Cancun on my contract. Cost to use the 2-bedroom is $1049 per week even though I paid $78,000....I was crazy to sign up for this and think I will just take the loss of $13,770 and get out of this.
If this post is not enough proof then I don't know what is.
R P.
This has got to be the top of the Timeshare swindle page. There must be a secret school someplace to train these sales people in manipulation tactics. maybe they are prescreened at birth like Hitler Youth were. l think the way to deal with them should be the " Tony Soprano" method.
Charles K.
We used an old timeshare as part of a new purchase and given a Global Vacation Trade Agreement. We had already known that the old TS charged 10% of the original purchase price to transfer the unit. Global's fee is $749. We knew about the fees when we purchased the new property. When we got the call from Global, we were told they were overstocked with inventory so we could pay them $1,850 and keep the old TS. My feeling is, why should I pay for something I already own? Is Global reneging on its agreement to accept the TS? Has anyone been in this situation and what did you do and what happened? Thanks
Susan W.
Did you sign a contract, and if so, what was included in that contract?
I have never seen a situation like yours, but it looks to me like Global did not follow through with what was agreed upon. I would insist that they return your original timeshare, they eat the cost of doing such and the new contract be null and void. I would go to the ends of the earth to see that this is enforced.
If they don't return your original timeshare at no cost to you then you need to file a complaint with the attorney general of FL that Global is trying to scam you .... you can do this online via a Google search. Just copy and paste your post above in the complaint section.
R P.
Last edited by jayjay on Mar 18, 2014 08:42 AM
My husband and I also purchased a TS at the same place and have also signed the Global Vacation Trade Agreement. We have not paid any money yet, nor have we received forms to complete. We contacted Global yesterday to start the process of giving up our old TS and the fee is $749, but after talking with Leticia Romero at Global we were not happy with the fact that there is no contract from them and her answers were very vigue. In fact, she seem to get very irritated by us asking so many questions. I'm glad I read about your dealings with them. Have you resolved... did you get your TS back?
susanw693 wrote:We used an old timeshare as part of a new purchase and given a Global Vacation Trade Agreement. We had already known that the old TS charged 10% of the original purchase price to transfer the unit. Global's fee is $749. We knew about the fees when we purchased the new property. When we got the call from Global, we were told they were overstocked with inventory so we could pay them $1,850 and keep the old TS. My feeling is, why should I pay for something I already own? Is Global reneging on its agreement to accept the TS? Has anyone been in this situation and what did you do and what happened? Thanks
Irene C.
irenec79 wrote:My husband and I also purchased a TS at the same place and have also signed the Global Vacation Trade Agreement. We have not paid any money yet, nor have we received forms to complete. We contacted Global yesterday to start the process of giving up our old TS and the fee is $749, but after talking with Leticia Romero at Global we were not happy with the fact that there is no contract from them and her answers were very vigue. In fact, she seem to get very irritated by us asking so many questions. I'm glad I read about your dealings with them. Have you resolved... did you get your TS back?
How can anyone do business involving a timeshare without a written contract in place ..... kudos to you for using your gut instinct to avoid this disaster.
R P.
I am in the same situation right now. Processing fee of $425. They are pushing me to just pay them that money and I will still own my old timeshare. They pretty much dont want to own my timeshare. So it's been 3-4 years now that this thread was active. I want to know what happened to everyone.
J P.
Same here, jp363. I just got off the phone with Gina Masini of Global Vacation Trade, who told me I have three days to decide whether to pay the $2656 as agreed to with my trade-in (informing me just now that the process will take up to two years, during which I must continue to pay maintenance fees)... OR... pay her broker's kick-back of $1650 (saving me $1,000 and I get to keep my old timeshare and sell it myself or rent it out). She says my contract with Vidante, which includes a credit for the trade-in, will remain intact and unchanged. She immediately sent an updated email with the new option, asking for my replay by this evening. What is the rush? Why is this option only on the table for three days during your "busy" season? I have sent a message to my Vidante sales rep in Vallarta, asking her to verify this contact and this company. The people at Vidante seemed to be legitimate, but I'm not sure about this Global Vacation Trade. I checked and they are not with BBB... due to unresolved customer complaints. Hmmm...
jp363 wrote:I am in the same situation right now. Processing fee of $425. They are pushing me to just pay them that money and I will still own my old timeshare. They pretty much dont want to own my timeshare. So it's been 3-4 years now that this thread was active. I want to know what happened to everyone.
Nicole A.
