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Old 10-05-2010, 12:12 PM   #1
Riverbmr3
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Time shares

Guys,
We had this time shares (3BR lockout) in Mystic Dunes, Orlando, FL since 2004and since then we just used it once. We paid it off in two yrs. time but then we have to pay the maintenance every two yrs, started paying at $250, then increase to $550 and lately sent us a statement for $946 for the maintenance plus taxes. For all fanatics with time share what do you guys do, Im even thinking of selling but do you think i can find buyer for my time share? Suggestion and inputs greatly appreciated!
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Old 10-05-2010, 12:18 PM   #2
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rent it out... I'm sure you can find a renter a lot easier that you can find a buyer
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Old 10-05-2010, 03:56 PM   #3
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If it's one week 3br you might not make too much money but you will certainly cover the maintenance fees.

Try selling if you don't use it. I also notice you can use your timeshare in different locations, maybe switch it up a bit and try a new area
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Old 10-05-2010, 04:23 PM   #4
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I'm the IT manager for a timeshare resales company (a legitimate, bonded, and licensed one)

listen to me: TREAD CAREFULLY. there are very few legitimate businesses that can actually advertise and sell a property. 98% of the ts resales companies you see are a) lead generators or b) not licensed RE brokers, and cant do the transaction.

almost all of them ask for an upfront fee, then they call back a day or two later and say theyve got a buyer, and you need to pay the closing costs and title transfer fees (which dont actually exist). once youve paid, and they will hound you until you do.. you will never hear from them again. there never was a buyer, and since you signed a contract there is no recourse.

if you need help or have questions about companies, lemme know. i'll be able to answer it or find someone in the office who can.
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Question for you:
Are boobs and hands polarly charged, thus causing the inevitable joining of the two? If so are some breasts simply charged backwards?

On a scale from 0 to 24...wait, 3 to 24, where 6 is the lowest and 12 is the highest, how freaking high re you right now?

She's got you high, and you don't even know yet.
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Old 10-05-2010, 04:25 PM   #5
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also dude, the timeshare industry is HURTING. no banks are giving out loans for properties and people cant buy.

we did actually get one sold the other day.. for $1k.
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Question for you:
Are boobs and hands polarly charged, thus causing the inevitable joining of the two? If so are some breasts simply charged backwards?

On a scale from 0 to 24...wait, 3 to 24, where 6 is the lowest and 12 is the highest, how freaking high re you right now?

She's got you high, and you don't even know yet.
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Old 10-05-2010, 04:29 PM   #6
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Originally Posted by beingdevious View Post
I'm the IT manager for a timeshare resales company (a legitimate, bonded, and licensed one)

listen to me: TREAD CAREFULLY. there are very few legitimate businesses that can actually advertise and sell a property. 98% of the ts resales companies you see are a) lead generators or b) not licensed RE brokers, and cant do the transaction.

almost all of them ask for an upfront fee, then they call back a day or two later and say theyve got a buyer, and you need to pay the closing costs and title transfer fees (which dont actually exist). once youve paid, and they will hound you until you do.. you will never hear from them again. there never was a buyer, and since you signed a contract there is no recourse.

if you need help or have questions about companies, lemme know. i'll be able to answer it or find someone in the office who can.
+1, my coworker has a time share and he has been trying to sell it the past 3 years(his is in daytona, FL). He gets calls at work all the time from people saying they have a buyer and such and never really do. At least once a week, he tells me to never buy a time share.
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Old 10-05-2010, 04:35 PM   #7
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My wife and I have a timeshare, and the fact that we got it as a gift and it's fully paid off is the only reason we don't donate it to some charity. Even with only the annual maintenance fees and not paying for the thing itself it's barely worthwhile... We've had it listed for sale through the management company for over 2 years now and there hasn't been the slightest sign that it'll ever actually sell. All the places that guaranteed quick sales seemed too sketchy.
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Old 10-05-2010, 05:15 PM   #8
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reason im asking this because the maintenance fee goes higher and higher..we don't have any explanation why it goes up like that..time share sounds like a rip off.
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Old 10-05-2010, 05:17 PM   #9
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lol, I'm curious if any of you list with my company. its been around for the last 10 years.


word of advice for anyone looking to buy: don't buy unless you WILL regularly use it. if you don't, you are wasting your money.
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Question for you:
Are boobs and hands polarly charged, thus causing the inevitable joining of the two? If so are some breasts simply charged backwards?

On a scale from 0 to 24...wait, 3 to 24, where 6 is the lowest and 12 is the highest, how freaking high re you right now?

She's got you high, and you don't even know yet.
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Old 10-05-2010, 05:25 PM   #10
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i hate my timeshare. I've had it for 3 years and i've been trying to sell it ever since. I'm stuck on wyndham's timeshare cr@p and I get the point system. If i don't use the points by the end of the year i lose it. I really want to sell it but can't find a legit company that doesn't ask for upfront 1k and etc. Timeshare is good for old people but if you're young then it's pointless. RCI tried to con me into buying a 2nd timeshare and I told them to f off and left. This is the worst investment I made.
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Old 10-05-2010, 05:31 PM   #11
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didn't think anyone actually bought those things......so are there any happy timeshare owners out here on e46?
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Old 10-05-2010, 05:34 PM   #12
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all timeshare companies will ask for an upfront fee. even the legit ones. thats why theyre businesses
otherwise, you want a broker who gets paid on comission.

for example:

company a (licensed and legitimate)
asks for upfront $499, $899, or $1299 based on whether you're renting, selling, or both. discounts for multiple properties. (cost varies from companies, thats some of our pricing structure, but it can be altered)
what this cost covers:
overhead like offices, real estate broker on staff, website and it staff, customer support staff, and the cost for advertising.. which you would pay in any industry
also covers showroom, projector, screens, displays, brochures, flyers, and handouts.

company b (lead generator)
this isnt a company. its a website or network of websites thats pure purpose is to collect personal info like names and email addresses. the collector then resells the leads to the other companies.

company c (the scam)
talks lots of heat, pressures you, and tells you they have a buyer waiting. they ask for "closing costs" or "transfer fees" usually upfront, they do not have a listing website, and they do not advertise. this is usually a phone room of about 5-25 people, they call 24 hours a day, and they pressure people who dont know any better to sell with them. the owner gets screwed and locked into a contract for "advertising" that isnt being done, and there is usually a 10 day backout period, sometimes less. after that... youre in a signed contract and if the company fights you with records, signatures, voice verifications (on phone), or any proof that they put a picture of your property on the web.. then you wont get your money back.
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Question for you:
Are boobs and hands polarly charged, thus causing the inevitable joining of the two? If so are some breasts simply charged backwards?

On a scale from 0 to 24...wait, 3 to 24, where 6 is the lowest and 12 is the highest, how freaking high re you right now?

She's got you high, and you don't even know yet.

Last edited by beingdevious; 10-05-2010 at 05:38 PM.
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Old 10-05-2010, 05:54 PM   #13
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Quote:
Originally Posted by beingdevious View Post

company a (licensed and legitimate)
asks for upfront $499, $899, or $1299 based on whether you're renting, selling, or both. discounts for multiple properties. (cost varies from companies, thats some of our pricing structure, but it can be altered)
what this cost covers:
overhead like offices, real estate broker on staff, website and it staff, customer support staff, and the cost for advertising.. which you would pay in any industry
also covers showroom, projector, screens, displays, brochures, flyers, and handouts.
Question is how do I find out which one of these companies are real or scam? PM me the info as I want to get rid of mine but if it's only going for 1k then I might as well suck it up because i'm still stuck paying the rest of the loan.
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Old 10-05-2010, 05:57 PM   #14
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I always felt timeshares are a ripoffs like late night infomercials. Any time high pressure sale tactics is involved you should walk away.

I went to quite a few presentations for the freebies and never bit. In the internet age it's so easy to find great deals at nice hotels. It doesn't make sense to lock yourself into 1 or 2 property in a particular city. Hell I rarely visit the same place year after year, and you get penalized quite a bit when doing a "trade". I just like the flexibility of trying out all the new hotels when I travel.
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Old 10-05-2010, 10:02 PM   #15
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Timeshares are scams, unless you are retired then you can actually put it to use.
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Old 10-05-2010, 10:40 PM   #16
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Quote:
Originally Posted by calvinz View Post
Question is how do I find out which one of these companies are real or scam? PM me the info as I want to get rid of mine but if it's only going for 1k then I might as well suck it up because i'm still stuck paying the rest of the loan.
depends on the property on its value. the $1k sale was just a fluke, owner just wanted it gone. we actually have a few of those.

things to look for in the company:

1) how legitimate is their website, does it function better than 1994?
2) are they licensed and bonded
3) is the business license current with the state?
4) have they said they already have a buyer?
5) did you contact them, or did they contact you?
6) this may sound like bad advice, but ignore the number of complaints with the state or bbb. reason: people are stupid and will file a complaint over everything. every timeshare resales company in existence has been accused of being a scam because someone, somewhere got pissed off.

now, if in the complaints you find numerous unresolved ones, or ones saying the company is from an international corp.. then that's a huge red flag.

the most recent scam i've seen has been when the scammers take the persons info from a website listing their property, call them, say they have a buyer and they are working with [legitimate company] to sell it, and they need money now to sell it. its very rushed, and VERY pressured.

biggest rule:
a legitimate company has already consumed all costs, in the advertising payment. they WILL NOT ask for more money later on. the only person that will do that is the licensed real estate broker.

words of wisdom: avoid resales companies that have gotten a license within the last 6 months. especially in florida. i cant say names or companies obviously, but recently the state attorney general went through and busted several phone rooms. lots were shut down. there is also a company from the UK scamming people, and they said they had offices in orlando.

wyndham and rci are the only timeshare SALES companies i know of in orlando that are legit, for REsales, i know of none in orlando.
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Question for you:
Are boobs and hands polarly charged, thus causing the inevitable joining of the two? If so are some breasts simply charged backwards?

On a scale from 0 to 24...wait, 3 to 24, where 6 is the lowest and 12 is the highest, how freaking high re you right now?

She's got you high, and you don't even know yet.

Last edited by beingdevious; 10-05-2010 at 10:44 PM.
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Old 10-05-2010, 11:23 PM   #17
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im curious, for those with time shares, what was the initial reason for the purchase?
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Old 10-06-2010, 01:07 AM   #18
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im curious, for those with time shares, what was the initial reason for the purchase?
hawaii lol, lodging is very expensive in Hawaii, I skipped it a few times b/c of it. I brought mine for 7K, they were asking me to finance it at 15% interest, lol, I paid for it with my credit card then paid for it in full. It has paid off for me, I've been to hawaii three times, florida a few times. It's cheaper if you travel once a year, otherwise it's not worth it.

Timeshare is expensive today, and mostly the point system, I can't believe how much it is today. I recently went to a RCI presentation, and the maintenance is $900/yr. wtf, really? My time share started at $299/yr for maintenace. That's the only thing I have a problem with is the increase of maintenance, I'm currently paying $450/yr. Still a bargain but pissed that it raised.

So in summary, it's cheap and that is a reason why I travel so much, I normally get the biggest room I can get for $100 upgrade fee, usually a 3 bedroom and invite my friends.

If my maintenance fee stays the same, I don't mind time share, unfortunately I know that will not be the case. B/c I'm a time share owner, I know many time share owners rent out there place for cheap. So if I can do it again, I would not buy it.
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Old 10-06-2010, 02:23 AM   #19
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where's a good place to search for timeshare rentals?
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Old 10-06-2010, 10:11 AM   #20
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hawaii lol, lodging is very expensive in Hawaii, I skipped it a few times b/c of it. I brought mine for 7K, they were asking me to finance it at 15% interest, lol, I paid for it with my credit card then paid for it in full. It has paid off for me, I've been to hawaii three times, florida a few times. It's cheaper if you travel once a year, otherwise it's not worth it.

Timeshare is expensive today, and mostly the point system, I can't believe how much it is today. I recently went to a RCI presentation, and the maintenance is $900/yr. wtf, really? My time share started at $299/yr for maintenace. That's the only thing I have a problem with is the increase of maintenance, I'm currently paying $450/yr. Still a bargain but pissed that it raised.

So in summary, it's cheap and that is a reason why I travel so much, I normally get the biggest room I can get for $100 upgrade fee, usually a 3 bedroom and invite my friends.

If my maintenance fee stays the same, I don't mind time share, unfortunately I know that will not be the case. B/c I'm a time share owner, I know many time share owners rent out there place for cheap. So if I can do it again, I would not buy it.
That's exactly my concern, the maintenance is just rocketing high, from $250 to $960..is there any way we can question or agency that we can complain about? looks like they can put whatever amount they want for the maintenance.
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