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Reliable broker and receipts

glo&t

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I'm a Occidental/Allegro first club timeshare owner who just paid a Resort Rentals International broker $598. for a 5yr. contract with them. I need to sell off some of my "Developer Weeks" to recoupe some of my money spent on this timeshare. The sale request was done over the phone and I was given the name of this company from the resort people who sold me the timeshare. I feel like such an idiot because I never received any kind of receipt from them for this transaction. The company is based in Williamsburg, VA but the man I spoke with was in the state of Washington. Has anyone delt with this company? Was it the right thing to go with this or any broker?
 

DeniseM

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WKORV, WKV, 2-SDO, 4-Kauai Beach Villas, Island Park Village (Yellowstone), Hyatt High Sierra, Dolphin's Cove (Anaheim)
ANY company that charges you an upfront fee to sell or rent your timeshare is going to scam you - period.

You should call your credit card company immediately and dispute the charge. This is a well-known scam - They make their money with the upfront fee and then they make no attempt to sell/rent your timeshare. Legitimate resellers charge a commission after the sale, but the scammers all ask for a large upfront payment.

Here are some warnings signs with these kinds of companies:

1) Did you get an unsolicited sales call from them?

2) Do they say that they already have a renter/buyer for your timeshare? (or an established market like people attending conventions.)

3) Do they want you to pay hundreds/thousands of dollars for a title search, or transfer fees, or taxes, or a closing fee, or appraisal, UPFRONT?

4) Are they offering to rent/sell it for far more than the market value?

5) Do they want you to pay a large up front fee that supposedly you will get back?

6) Do they want your credit card number over the phone?​

If you answer yes to any of these questions, then this is the usual scenario:

Once you pay the fee and receive the contract, you discover that the company has only promised to advertise your resort, not to rent/sell it, and they don't mention having a renter/buyer in the contract.

Then, you won't hear anything from them for a long time, and when you contact them, they will tell you that the renter/buyer backed out, but they will advertise your timeshare on their over-priced website.

Finally, when you try to get your money back, they will point out that you signed a contract, and it's only for advertising.

When you try to challenge it with your credit card company, they will tell you that you only had 60 days to dispute the charge, and that it's too late to do anything.​

This is a bitter pill to swallow, but right now, most timeshares are selling for 0-20% of the original retail price. It's not a good time to sell a timeshare.

To see what your timeshare is really worth on the current resale market:

1) Register with ebay
2) Sign in
3) Search for your resort by exact name
4) From the menu on the left find the "Buying Formats" heading and click "choose more"
5) On the next page click "completed listings"
6) The next page will show you current selling prices
(Be sure you look at the completed listings - those are actually SELLING prices - you will find asking prices all over the place, but what really counts is what they actually sold for.)​

(Be sure you look at the completed listings - those are actually SELLING prices - you will find asking prices all over the place, but what really counts is what they actually sold for.)
 

glo&t

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Thank you!

Denise,
Thank you! I took your advise. With two wks to spare I registered a dispute with my credit card company. A lesson learned!
 
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