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Thursday, July 8, 2010

Transfer Smart News: Owner Gives Advice When Selling a Timeshare

For most owners, when they think of getting out of their timeshare contracts, the best solution would be to sell it. But several people already testified that selling a timeshare is not an easy task and there’s also a big possibility to get scammed. Take the case of Don Bishop who tried to sell his Mexican timeshare. This Tacoma resident paid a company to get his condo on a listing service and soon after, salespeople are calling with some stinky deals.

According to him, the deal is wilting. As he stated, the whole picture from beginning to end came on to him as a big scam. The salespeople offered him a buyer with $2,500 on the table. They ask him to guarantee that he is going to go through with that by taking his credit card and give them $1,900. For the experts, such sales pitch is considered a serious red flag.

Meanwhile, Douglas Wheeler, an attorney who specializes in timeshare sales and agreements said that the people that are really aggressively beating the bushes right now are typically scammers. His advice if you are looking to dump your timeshare is to list and advertise it yourself. In that way, you can steer clear of extra fees. He added that you're going to spend a few hundred dollars at least to have somebody list it for you and all they may do is put it up on a website. Moreover, he also recommends donating or gifting the timeshare, but don't get desperate. You may have restrictions in your timeshare on what you can do with it and how you have to sell it.

As for Don, he got his money back. But he tells others not to make the same mistake because these scammers are relentless. However, if you are trying to save money, you can try renting out your vacation property. But don't have the resort set it up, you do it.

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