Avoid timeshare resale companies
Timeshares are tricky. At first, they seem like a great buy. Who wouldn’t want to book a few weeks at a vacation condo by splitting the cost with hundreds of other buyers?
Unfortunately, like most things in life, there is a catch. When you consider the hefty down payment, ever-increasing maintenance fees, and special appraisals that surprise owners make, timeshare ownership far exceeds the cost of conventional vacations. These rates are so outrageous due, in large part, to the fact that the resort’s marketing campaigns are responsible for nearly 50% of the final timeshare price. These wildly aggressive strategies lead to a huge markup on your costs.
In addition to the costs associated with owning a timeshare, it is important to remember that they can also be extremely expensive to sell. Most resale agencies require a significant upfront sum to list your property and continue to charge monthly fees until your timeshare is sold. In general, listing your timeshare will cost you thousands and they are rarely sold, even after your financial commitment.
Of course, timeshares are rarely sold due to a number of factors, one of which is that the reseller has little motivation to do so as long as their customers continue to line their pockets. Coupled with the fact that a lot of these companies are nothing more than a front for scammers, timeshare resale companies are simply not the way to go. Typically, people only turn to them when they are desperate to ditch their contract, only to lose hundreds, if not thousands, more in the process. In fact, according to The South Florida Sun-Sentinel, complaints about timeshare resale companies doubled in 2009 to become the most frequent complaint reported to the state Attorney General.
These fraudulent companies do an excellent job of disguising their true nature, so here are some suggestions to help you determine the strength of the company:
• Verify the physical address of the company: This is a surefire way to determine the validity of the business.
• Do your research: An easy way to determine the legitimacy of the business in question is to contact the Better Business Bureau and the state attorney general.
• Look for the warranty: If the reseller does not offer a full and guaranteed refund of your money if you are not satisfied with their service, they DO NOT COMMIT anything in writing!
Considering the many drawbacks of listing agencies and the fact that many of them are illegitimate, I strongly urge you not to ask for their help. The surest way to avoid being scammed by a reseller is not to seek their help in the first place. But there is a convenient, affordable, and sensible way to end your timeshare ownership.
The best option for timeshare owners looking to ditch their timeshare contract is to enlist the help of Newton Group Transfers for a guaranteed exit from their timeshare. Unlike resellers, we offer the following features to keep you safe and informed throughout the entire process:
• All relevant information is documented in writing.
• An impeccable track record that can be referenced and verified through the Better Business Bureau.
• A quick transfer of your timeshare property with a one-time nominal fee.
• Every detail of the terms and conditions of the service offered.
• 100% money back guarantee to successfully complete your transfer in a timely manner.
We urge you to be diligent in your search for an efficient and convenient timeshare exit solution. We realize that most timeshare owners have dealt with fewer big name people and organizations in the past, and we understand the hesitation we have to go ahead with an exit solution that asks for an upfront fee. However, the above vignettes speak volumes about our credibility and our honest commitment to our clients.