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Timeshare Resale Dangers: Seller Beware

Timeshare Resale Dangers

December 12, 2018 – by Primo Management Group

Timeshare Resale Dangers

Looking to unload your timeshare? Timeshare resale dangers are lurking, so beware!

If you’re thinking of selling your timeshare, you need to beware of timeshare resale dangers. We understand why you’d want to get out of your timeshare contract. Unfortunately, timeshare sales can be complex and risky. Scams, fees, and competition are just some of the timeshare resale dangers sellers may face.

Reasons to Sell

We work with people looking to get out of their timeshares every day. We understand because there are so many reasons to consider selling your timeshare. Maybe you are tired of or can no longer afford paying rising maintenance fees forever. Or maybe your once awesome timeshare no longer suits your needs. Many people find themselves traveling less as they age and are unable to make use of their timeshare. And others have just realized that their timeshare isn’t a good value. The price they pay every year is too high for what they get out of it. Finally, people have had enough.

Resale Market Scams

Many consumers turn first to the resale market, which makes sense. After all, when you have something you don’t want or need, you can usually sell it and recoup your investment, right? Well, maybe. Unfortunately, the resale market is rife with scams. Here’s how they work. Scammers contact you directly or through internet ads. They claim to have a buyer ready to purchase your timeshare. The market is great, they tell you. So many buyers! This will be so easy. Just pay an upfront fee by wire transfer to cover closing costs. This upfront cost can be hundreds or thousands of dollars, but don’t worry because you’ll get your money back at closing. And you’re desperate to get rid of your timeshare, so you do it.

Of course, as soon as the transfer is complete, the buyer disappears and the company stops returning your calls. You’ve lost your money and, sadly, you still own your timeshare. Here’s how to protect yourself:

Highly Competitive Market

Remember how hard that timeshare sales rep had to work to get you to buy your timeshare to begin with? Well, you may have to work just as hard to find your own buyer. There are many, many timeshares available on the resale market. If you have a highly desirable week or unit, you may be in luck. But if you have one of the many, many typical timeshares, you’ll have stiff competition for buyers. Unfortunately, the high supply and low demand drives prices down. A person can buy a timeshare for a dollar if they want to.

So, you’ll need to find a way to differentiate yourself and make your timeshare attractive. This means writing a great listing and placing it somewhere visible. You’ll also need to keep your price competitive, which will likely be well below whatever you paid. And you may also need to offer incentives to buyers.

Even More Fees

What? You’re selling your timeshare to escape fees, but now they are piling on more? Unfortunately, yes. There are fees associated with selling your timeshare. Fees from your resort may include things like title change fees for the privilege of escape. If you’re listing your timeshare on a forum, you may pay a listing or membership fee. Plus there are whatever incentives you had to offer to your buyer to make the deal more lucrative for them. As with everything timeshare, you can’t escape the fees.

If you can successfully navigate your way through these timeshare resale dangers and unload your timeshare, congratulations. If you’ve tried and failed or worse, if you’ve been scammed in the process, don’t lose hope. We can help you get out of your contract safely and ethically without fears of scams or begging for sellers on the resale market. Contact us for a free no-risk consultation today.

(Image Source: Pixabay)

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Frequently Asked Questions ?

How does PMG get me out of my timeshare contract?

PMG is not a resale, transfer, or donation company. We are consumer advocates—we help to negotiate the release of your timeshare contract obligation. We do not buy, sell, or rent your timeshare. Simply put, we help you to get out of your timeshare contract forever.

How long does the process usually take?

Usually less than 12 months, but it all depends on your situation. If your timeshare is free and clear with no mortgage, then the process may only take 3-9 months.

Speak to your advisor about the time, and what delays the resorts have put into place to prevent timeshare owners from departing their ownership. If you have a mortgage or past due maintenance fee, the process takes more time.

How much is my timeshare worth?

This is probably going to hurt, but whether you paid $5,000 or $50,000 for your timeshare, the IRS values all timeshares as worthless investments. In addition, that timeshare would have negative value due to the annual maintenance fee bill which compounds year after year. That is until PMG helps you cancel your timeshare.

Can I use your service if I still have a balance owed on my mortgage?

Yes. Whether you bought your timeshare 20 days ago or 20 years ago, PMG has a solution for you and is here to help.

Will my name be off the timeshare?

Yes! Permanently! GUARANTEED!

In addition to getting me out of my timeshare, can you recover the money I’ve already spent on mortgage payments and maintenance fees?

While we are able to recover money in rare cases, beware of any timeshare cancellation company that entices you with the promise of fund recovery. The truth is, timeshares are loath to give back the money they’ve already taken.

Are your consumer advocates really “consumer advocates”, or is that just a fancy word for salesperson?

Because most of our clients have had their trust betrayed by timeshare salespeople, we understand how some consumers can become a bit jaded. When you call us for a consultation, that’s exactly what you get, a consultation. At PMG, our job is not to sell you; our job is to help you get out of your timeshare. Which is why we have numerous 5-star reviews and an “A” (excellent) rating from the BCA.

Why should I choose PMG to get me out of my timeshare?

We pride ourselves on providing our customers with the best customer service in the industry. When you contact our company, you speak to a live person, not an automated system or voicemail. We go above and beyond for our customers by helping you to protect your credit and even repair your credit if needed. We offer a 100% money back guarantee, and we can provide documented proof of our success in helping customers just like you.

What happens after I sign up with you? Will I be apprised of your progress?

At PMG, we pride ourselves on our hands-on, boutique-style customer service, so every new client is assigned a case manager whose job is to keep you in the loop throughout the entire cancellation process. Your case manager is always just a phone call away.

How much is your fee?

Not all timeshare experiences are created equal. Some are more complicated than others, and every situation is different. That’s why our trained timeshare elimination consultants will ask you a series of questions designed to determine exactly what needs to be done to terminate your timeshare, how long it will take, and how they can best advocate for you. We will always seek the most cost-effective route for you.

What if I still have more questions?

Canceling a timeshare contract is not a cookie cutter process. With each situation being unique, once you complete the form below an experienced consumer advocate will call you today to discuss your options.