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Old June 18, 2010, 07:52 PM   #1
lazerator
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Any info on www.sellmytimesharenow.com?

I contacted these guys and talked to an agent there. He said they sell a ton of timeshares, and told me that my Velas Vallarta unit was worth in the $5-7000 range. He said they get offers from buyers, and match them up to sellers. Their website shows the offers they've been getting on a daily basis.

http://www.sellmytimesharenow.com

Here's their offers list:

http://www.sellmytimesharenow.com/ow...t/buyeroffers/

I was also told that rental offers usually run about $800-1000 per week for a 1 bdrm, which seems legit, unlike the claims of getting $2240 a week!

The guy seemed very realistic about what I could get for my timeshare, renting or selling. Unlike Sierra who is trying to scam me for my upfront escrow payments of $1505 on a sale for $19900 right now. I know I can't get that for a resale.

This would be a significant loss for me on a sale, but I would only break even on a rental deal for all my weeks. I have not used even one week, and have all 25 left. So I'd rather cut my losses, get out of it, and get at least part of my money back.

Problem is, they also want $599 upfront for the costs of the advertizing and sale. I'd do it if they really could sell my unit for me.

Has anyone done any business with this company?
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Old June 18, 2010, 08:19 PM   #2
gmarine
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Unfortunately if this is one of the mandatory all inclusives its not worth anything near 5-7K. Check EBAY completed auctions to get a general idea of what they have sold for. Asking prices on resale sites dont reflect actual sales prices and are usually way overpriced.

Do not pay any upfront fee. The only thing you will get is a lighter wallet.
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Old June 18, 2010, 09:09 PM   #3
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You need to understand that this site, as with almost every other or its ilk, is almost entirely a site for listing timeshares for sale. That is what they do and that is where they make their money. I'm sure that there is a trivial trickle of offers coming in from people who want to buy a timeshare, but that's all that it is - a triviality.

You can take that statement to the bank - literally. If there were lots of people making offers on resale, they would look that that market to generate. But since they generate their money on listings, that shouts louder than anything they can say that their service is listing. And when they have your listing, they will have what they want.

Of course, if an offer comes in they will likely route it to you. Heck, when I've been in the market for timeshares, I've hit up sites such as this, looking for folks who are desperate to sell their timeshare. I always figured that there would be folks out there who have paid thousands of dollars in "listing" fees with nary a nibble and are now despairing of ever selling their property. So if I give them a legitimate offer, though it be for a fraction of what they thought (or were told) their unit was worth, they would by then be receptive to any offer. (And I could always count on finding someone like that.)

*******

Now you mention that he told your Velas Vallarta was worth $5000 to $7000. That pretty much tells you that he doesn't know much about the current market for timeshares. I seriously doubt that a VV unit is going to sell for as much as $1000 in the current market unless it's a fixed week for Christmas/New Years/Santa Semana. And even $1000 is likely being generous.

Again, they are making their money on getting listings, not on sales. While you might have a perception they are "better" because they are not trying to sucker you in by making you believe you will get all of your money back, they are still sucking you in by giving you an unrealistic price, a price that he knows you are willing to hear.

But it's still an unrealistic price. And if he did tell you what your unit was really worth - perhaps zero or even negative value - then there's no way you would spend money to list it - right? (I'm assuming that you wouldn't pay $599 to create an ad for something that you might not be able to give away for free.) So all he's doing is giving you a price that he thinks won't drive you away. He knows you won't fall for a $20,000 price, so he's giving you something that he thinks you will fall for.

Same game; just different numbers and more nuanced sales schtick.
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Old June 18, 2010, 10:37 PM   #4
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Tell them that you'll pay them double once they sale it. It isn't worth close to what they said it is. Guess around 10-20% if you paid retail and you might be in the ball park.
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Old June 19, 2010, 05:18 PM   #5
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I don't think my contract is mandatory all-inclusive. I think it's optional. But I doubt it makes much difference.

I really am leery of paying an upfront fee. I was also told that they could sell it on commission, but the commission would be 15% or $2000 whichever is more. At this point, that option seems more attractive.

I really got suckered into this VV deal, as I'm sure hundreds of others have too. Their sales pitch is pretty slick, and they have answers for every question. Everything sounded good to me at the time.

Why doesn't anyone in the US warn travelers to Mexico about this? Seems like the State Department should be posting notices in airports or you would hear about this on the news or something.

I never heard of these types of scams before, and I've owned a Marriott timeshare for about 12 years now. It has it's own problems, and I wish I'd never bought it either.

I also wonder why the US government doesn't work with the Mexican government to stop these scammers!!

It looks like maybe my best bet is to rent it out myself somehow to cover my maintenance fees until my weeks are used up, or use the weeks myself. It is a nice resort....but I won't do the all-inclusive.
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Old June 19, 2010, 05:28 PM   #6
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ANY company that charges a large upfront fee is trying to scam you. They make their money with the upfront fee and then they make no attempt to rent/sell your timeshare.

Here are some warnings signs with these kinds of companies:
1) Do they say that they already have a renter/buyer for your timeshare? (or an established market like people attending conventions.)

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

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

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

5) Do they want your credit card number before they send you a contract?
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.
To see what your timeshare is really worth on the current resale market:
1) Register with eBay
2) Log into eBay
3) Search for the resort by exact name
4) Click on "completed listings" on the menu on the left
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Old June 19, 2010, 06:06 PM   #7
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Originally Posted by phileaglesfan View Post
Tell them that you'll pay them double once they sale it. It isn't worth close to what they said it is. Guess around 10-20% if you paid retail and you might be in the ball park.
Better yet - tell him that you will sell it to him for $1000. He can then turn around and sell it for the $7000 he says it worth, and clear an $5000 for his own pocket after transaction costs.

If he really thinks it can sell for $7000 he would be an utter fool to not take you up on your offer. Turning you down would be almost like getting a tax refund check in the mail for $5000, then lighting a match to it.

***

The only reason for him to turn down your offer is because he doesn't really believe your unit is worth $7000. And I will almost guarantee that if you make him the offer he will turn it down.
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Old June 19, 2010, 09:01 PM   #8
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Originally Posted by lazerator View Post
Their website shows the offers they've been getting on a daily basis.
This is deceptive. Their website is set up in such a way that it generates a lot of false offers. For example, you cannot ask a question about one of their listings (view, fees, season) unless you make an offer because the inquiry form requires one. The site will automatically generate a full price offer on your behalf. Of course you can change the dollar amount of the offer, but I'm guessing a lot of people don't bother. In this way, they are able t count a lot of casual inquries as offers.
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Old June 19, 2010, 09:19 PM   #9
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Lazerator- I'm going to warn you about Mexico. There is a drug war going on right now at the Mexican-US borders- Stay away. If you get pulled over by the Mexican police- have a 100 dollar bill ready. If you want the US to pull out of this recession-spend your money in the US. Preferably Arizona.
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Old June 20, 2010, 01:51 PM   #10
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Thanks for all the feedback folks. I am not going to pay any upfront fee for anything. I'm thinking I might take him up on his offer to sell it for me for a commission....even if it is $2000 out of the supposed $7000. If he backs out on that, then I know he's a scammer.

Fillde, thanks for the advice. I have taken exactly one trip to Mexico in my life, and I got scammed into this timeshare and lost over $20K on it.....most expensive vacation I've ever taken. Not only that, I went back to VV two more times after the initial 5-6 hour "90-minute presentation" to try to cancel my contract, and they wouldn't let me. I spent the entire first half of my week-long vacation dealing with this garbage and getting upset and stressed out.

I have travelled a lot of places in the world and never have I seen anything like what goes on down there. I just wish I'd known about these scams before I went. My son just got back from Cabo and had a great time.

And I totally support what Arizona is doing, as I believe the majority of Americans do. Texas needs to do something similar, imo. The feds need to get their heads out of their...... ;-)
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Old June 20, 2010, 01:55 PM   #11
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A commission sale through this company is a new offering that I have never heard of before, and I am guessing there will still be some sort of upfront fee.
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Old June 21, 2010, 07:22 AM   #12
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Better yet - tell him that you will sell it to him for $1000. He can then turn around and sell it for the $7000 he says it worth, and clear an $5000 for his own pocket after transaction costs.

If he really thinks it can sell for $7000 he would be an utter fool to not take you up on your offer. Turning you down would be almost like getting a tax refund check in the mail for $5000, then lighting a match to it.

***

The only reason for him to turn down your offer is because he doesn't really believe your unit is worth $7000. And I will almost guarantee that if you make him the offer he will turn it down.
--------------------

I made a similar offer once. The response was "We don't do business that way."
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Old June 21, 2010, 10:24 AM   #13
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--------------------

I made a similar offer once. The response was "We don't do business that way."
Of course they don't, which is exactly the point. If what they were claiming were true, that is the way they would do business. The only reason for them not to do business that way is because they know they can't sell the unit for what they are saying it is worth.
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Old June 29, 2010, 03:24 PM   #14
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I listed my timeshare through this company a couple years ago and I've only received 2 inqueries that entire time one of which was just to rent the unit for a week that I didn't have.

I've had much better luck other places.
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Old July 6, 2010, 05:24 PM   #15
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listing timeshare

I listed my timeshare too a couple of years ago... with a scam company. I didn't hear anything more from them. When I contacted them all I get is big talk about how much my timeshare is (was, back then) worth. But all they did was list it some place. When I asked for a copy of what they listed it IN they said they basically just put in an ad that they have timeshares for sale. I spent about $800 for this "service". I learned my lesson! Still own the time share.... still trying to figure out how to sell it now that we live right near where it is. Who wants to vacation at a resort in their own state? We want to be able to travel up north to visit our young adult kids instead of feeling trapped here. UGH
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