While the timeshare purchase is sold as an affordable expedition with ideal dates that are too good to pass up – you must understand that you’re still going to pay a premium to vacation this way. Nothing is guaranteed unless it is in writing and you should remain skeptical until evidence is presented or you’ve had time to compare your options.
When greed drives an organization, the consumer normally is the one that pays the price. This was especially true at the Caribbean Service Group (CSG), starting back in 2009 when the original owner passed away. Kathy Tice Craig managed The Woodbourne Estates Resort in Freeport, Bahamas into the ground by embezzling timeshare owners for her own selfish gain.
No matter how good the sales pitch is, you have to take the time to research timeshare exit opportunities. On the surface, many scams seem legitimate, but are really a mirage. Those willing to investigate leadership, employee reviews, past partnerships and the business’ reputation are usually glad they did so.
Corrine Adams, an 83 years old widow, learned this the hard way. After purchasing a Hawaiian interval with her husband nearly 30 years prior, she decided it was time to move on from the expensive purchase. Her primary reason was the increased cost of maintenance fees. Once she hadn’t been able to travel to the resort for a few years, she grew tired of the unnecessary expense and didn’t want her kids to acquire the burden.
Hopefully this first installment will help you avoid setbacks and find a viable option that suits you best. While the sales practices of the timeshare exit industry have a long way to go, we want you to know that you can trust our word. The last thing we want is for you to remain in remorse.
When it comes to vacation ownership, many people periodically enjoy their weekly interval before growing tired of its limitations. Whether this be booking concerns or boredom with the resort’s destination, it’s difficult for consumers to see the value once the initial euphoria wears off. But this wasn’t the case for Gisele.
Although paying influencers to market a product or service is becoming more common, consumers are starting to see through the noise. But it isn’t stopping many timeshare exit options from paying hefty sums of money to well-known celebrities for endorsements. So, should you believe them?
Over the course of the buyer’s ownership experience, Marriott did a poor job of providing transparency regarding the purchase. Although the points program wasn’t “illegal” itself, Marriott should have never charged buyers for something they’d never be able to acquire.
Similar to maintenance costs for timeshare owners, resorts randomly charge travelers for things like add-ons and upkeep during check out without any transparency. Because most hotel chains do this, it’s been accepted as normal by consumers. While it’s made them a lot of money in the past, it doesn’t look like it’s going to be tolerated much longer.
Floating the idea that buyers can effortlessly resell or rent a timeshare is down right criminal to say the least. But resorts aren’t the only entities that deceive fractional owners. Learn more about the process of leasing timeshare intervals and why it’s risky business for nearly any type of consumer or investor.
Back in 2017, a local Arizona resident reached out to ABC 15’s Joe Ducey to do a story on his deceased mother’s timeshare in Las Vegas. In the reporter’s routine installment titled “Let Joe Know,” he aired out some the inquirer’s frustrations before shedding light on the reality of the situation.
After speaking with thousands of timeshare owners over the years, we’ve confirmed that a majority are completely misinformed on the way the resale market works. Some of our clients were even told that purchasing multiple agreements creates multiple revenue streams that’ll cover the purchase while allowing them to travel nearly anywhere.
Despite the Osceola County Property Appraiser’s Office’s timeshare tax assessment of $92.85 million for both 2011 and 2012, Wyndham challenged the obligations of their resort, Cypress Palms, by alleging they only owed around $41.5 million total. According to court documents, Katrina Scarborough processed a proper valuation in Kissimmee, Florida.
Most family members absolutely love it when they receive free timeshare accommodations during the holidays. Although limited availability is usually the cause, some owners have excess weeks or a surplus of points that need to be used. This forces them to hand out intervals at the end of the year. While gifting a weekly interval may seem like a fine Christmas gesture, it can also backfire in a big way.
In 2015, Disney Vacation Club (DVC) and some of their resale partners voiced that the default rates they experience are far less than the rest of the industry. What’s interesting is they didn’t exactly refute this with actual data. Out of Disney’s 200K+ owners, they say only 0.5% are involved with foreclosure auctions.
