Hi Folks, little advice please..

[aerostar]

Hello everyone.."newbie" here.

Ok, last year I did the Timeshare Only thing. (wish I would have found this site)

I'm a commercial pilot, so felt they could help out; as time was limited.

At anyrate, I received a call from Fidelity Real Estate- Timeshare Division.

I had a 5800 point HGVC Gold week. Seaworld Orlando Resort

The offer is $2600 net, plus reimbursment of 2012 maintenance fee's on top of that. So, should be a total of around $3500.

Sound like a legit offer, for this economy; or should I shut this down.

Any info, and or direction for comparison appreciated.

I haven't had a chance to look over the "Newbie" section yet...I will do so though.

The ppaperwork is being sent tommorrow, so things seem to be moving along. Just wanted some insight form those of you in the know.

Thanks for any info and or assistance.

Best,
David

 

[DianneL]

Scam

This sounds like a scam. When people are selling timeshares for $1 and in many cases giving them away, no one is going to pay $3500. The next step will be that you will receive the paper work and they will ask for money up front (sometimes a lot of money) for documents or some other reason. You send them the money, and you will never be able to get in touch with them again or recover your money. There is a sticky on the top of the page about how to sell your timeshare and avoid scams.

 

[AwayWeGo]

Legit Is As Legit Does.

Sound like a legit offer, for this economy; or should I shut this down.

If it's legit, they'll send you a check. Case closed.

If it's not legit, they'll ask you to send them money before the deal can go through. If you fall for that, the ready & waiting buyer will turn out to have changed his or her mind, or Fidelity Real Estate Timeshare Division will disappear, or both.

Ultimately, you have to rely on your own baloney detector.

So it goes.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[DeniseM]

There is a simple rule for TS business offers:

NEVER, EVER pay a large upfront fee - no matter what they call it.

REPUTABLE brokers charge a fee after the sale, out of the proceeds of the sale.

 

[Sloane S]

There is a simple rule for TS business offers:

NEVER, EVER pay a large upfront fee - no matter what they call it.

REPUTABLE brokers charge a fee after the sale, out of the proceeds of the sale.

That's some excellent, concise advice - it may be a scam.

 

[aerostar]

Hey Folks, Thanks for the input.

I received an Email from the Financial Broker.

Based on that info, this looks legit to me. No monies upfront.

I have to pay mx fees and then reimbursed on top of the net sell, when evrything complete.

No Money out of my pocket...when it's all said and done.

Thanks again.

Best,
David

 

[LannyPC]

Hey Folks, Thanks for the input.

I received an Email from the Financial Broker.

Based on that info, this looks legit to me. No monies upfront.

I have to pay mx fees and then reimbursed on top of the net sell, when evrything complete.

No Money out of my pocket...when it's all said and done.

Thanks again.

Best,
David

This is a total scam! The Mexican fees is a bogus fed. Do not pay this Mexican tax fee.

 

[aerostar]

OK folks. Sorry, I'm a pilot. MX stands for maintenance. Sorry for the confusion.

No type of "Mexican" fee.

Best,
David

 

[yumdrey]

Seller doesn't have to pay ANYTHING to transfer your week!!

That part is the scam.
Tell them they can take that fee at closing.
They will say you (seller) required to pay $xxx amount to start transfer and it's the law (lie!).
That's how you know it's scam or not.

Legit offers never make sellers pay ANYTHING (= NOTHING).
I have sold 10+ timeshares and didn't have to pay anything to start transfer process.
Total bogus!

 

[yumdrey]

Hey Folks, Thanks for the input.

I received an Email from the Financial Broker.

Based on that info, this looks legit to me. No monies upfront.

I have to pay mx fees and then reimbursed on top of the net sell, when evrything complete.

No Money out of my pocket...when it's all said and done.

Thanks again.

Best,
David

This red part proves that it's a scam.
You will lose your money and never hear back from them.

 

[AwayWeGo]

Advancing The Frontiers Of Timeshare Knowledge.

Hey Folks, Thanks for the input.

I received an Email from the Financial Broker.

Based on that info, this looks legit to me. No monies upfront.

I have to pay mx fees and then reimbursed on top of the net sell, when evrything complete.

No Money out of my pocket...when it's all said and done.

Thanks again.

Best,
David

OK, just go ahead with the legitimate-sounding offer.

Then let everybody here know how it comes out.

Maybe we'll learn something .

Maybe you'll learn something.

Shux, maybe we'll all learn something.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[Passepartout]

Might be a first. But I think some of you advice-givers need to read post #1- The TS in question isn't in Mexico it's HGVC Orlando. And the OP was told that there was no out-of pocket, or up-front expense. (see #6) He pays the MF and settles with the broker upon closing. I know these legit operators are scarce as snowballs in Hades, but who knows. The OP feels he's found one. I'm sure we will hear soon enough.

Jim

 

[JudyS]

This sounds like a scam. When people are selling timeshares for $1 and in many cases giving them away, no one is going to pay $3500.....

This is for a Hilton, and people do still pay good money for those. This could still be a scam, but the price actually sounds in the right ballpark for 5800 HGVC points.

David, are you paying the maintenance fees to HGVC, or to the "broker"? If you are paying to the broker, it is probably a scam.

I don't think anyone here has heard of Fidelity Real Estate- Timeshare Division. The usual broker Tuggers recommend for HGVC resales is Seth Nock of www.sellingtimeshares.net I've never done business with Seth, but he has an excellent reputation. I'd suggest giving him a call and asking what your points are worth.

In general, it's a bad idea to do business with any broker who contacts you. You should be the one contacting them.

 

[aerostar]

Hi Judy. The Maint. fees will be paid to HGVC. The Buyer, will reimburse those fees, on top of the net sale.

Remember, i paid that fee to timesharesonly, a while back. I believe this contact was due to my ad with them.

Best,
David

 

[Talent312]

Yes, that is a reasonable price for your point-package.

However, HGVC holds a ROFR (right of first refusal). The closing agency needs to submit the deal to HGVC for a waiver. HGVC has 30 days to review, and if its a good deal for them, they may choose to step into the buyer's shoes.

 

[aerostar]

Hi Talent312. Yes, the gal I spoke too, did mention the ROFR; as well as, the waiver you mentioned.

So far, everything sounds on the up and up.

Thanks.
David

 

[gnorth16]

Ballpark offer, nothing upfront. Doesn't hurt to get the name of the buyer and google them. Possibly check out the closing company, split the escrow costs with the buyer if you are uneasy.

Sounds simple and legit. Hope all goes well.

Everyone is quick to jump and think everyone is a scammer. It is not always the case. I almost feel bad for the telemarketers and cold callers nowadays.

"YES I AM interested in long distance savings":rofl:

 

[djs]

Just proceed cautiously. At some point they may ask for some sort of processing fee which will be paid to them. The minute you are asked to pay them any money which will be reimbursed later, you will have stumbled upon the scam.

As others have said, you are being offered a fair price so this may very well be legit. The reason we're all so quick to assume it's a scam is because 9%+ of the time when people come here asking about resale companies it is a scam.

 

[theo]

Typo?

The reason we're all so quick to assume it's a scam is because 9%+ of the time when people come here asking about resale companies it is a scam.

I'm betting that you meant (quite correctly) 99%+

 

[ScubaKat]

A lot of people at DiS and other Disney boards have purchased from Fidelity Timeshare Resale from Sharon for DVC points. They are officially contracted with DVC and get a lot of distressed DVC contracts.. Their prices are lower than others but there are more closing problems. I had contacted them for a couple of listings on their timeshare side.. They have Marriotts and HGVC... The prices are listed pretty high but always have received prompt responses. I have never tried to sell through them so I am not sure of their practices for selling and listing.

 

[djs]

I'm betting that you meant (quite correctly) 99%+

Correct, but at least I could still go into court and stand by what I wrote

 

[JudyS]

A lot of people at DiS and other Disney boards have purchased from Fidelity Timeshare Resale from Sharon for DVC points. They are officially contracted with DVC and get a lot of distressed DVC contracts.. Their prices are lower than others but there are more closing problems. I had contacted them for a couple of listings on their timeshare side.. They have Marriotts and HGVC... The prices are listed pretty high but always have received prompt responses. I have never tried to sell through them so I am not sure of their practices for selling and listing.

I didn't know that. Thanks, ScubaKat!