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[ 2014 ] Trade-in to Timeshare Equity Services

craigctodd

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Has anyone ever dealt with Timeshare Equity Services??

In Cabo San Lucas, I recently bought into Pueblo Bonito Sunset Beach and they took my existing Cabo Villas timeshare as a trade-in and gave me $11,000 credit for it. I do have to pay fees of about $1,000 to complete the trade-in. The trade-in is handled by a place called Timeshare Equity Services in Montreal and Cancun. They have offered me the option to pay them $2,200 (instead of about $1,000) and then they would let me keep my Cabo Villas timeshare. I've looked into selling Cabo Villas myself and I'd be money ahead if I could get more than about $2,000 for it; however, that seems unlikely. Someone I talked to about selling warned me to verify that Timeshare Equity Services will actually transfer the timeshare out of my name and relieve me from obligation to pay maintenance fees. Anyone have any experience with this type of situation?
 

TUGBrian

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you will find that on average, a "trade in" of a timeshare is an overwhelmingly horrible deal for the owner.

and you will find many of these "solutions" places merely take your money...and you now end up the owner of two timeshares...with matching double maintenance fee bills as a parting gift.
 

theo

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<snip> Someone I talked to about selling warned me to verify that Timeshare Equity Services will actually transfer the timeshare out of my name and relieve me from obligation to pay maintenance fees. Anyone have any experience with this type of situation?
That "someone" gave you a sound and completely valid warning. I have a first hand experience to share which might give you some pause, although it did not involve any of the company names which you have mentioned (although, for all I know, it could well be some of the same people, now just touting a different company name --- I can't possibly know and certainly do not claim to know --- or care):

Some years ago, I acquired two deeded U.S. weeks from a U.S. fellow who had (...or so he thought) "traded them in" toward a Mexican RTU contract while in Cancun well over a year earlier. The Mexican "trade-in recipients" had done absolutely nothing with those weeks, simply leaving this fellow remaining the legal owner of record in the U.S. (...and of course, to his great surprise and greater displeasure, the maintenance fee bill recipient for those "trade ins" the following year thereafter).
He paid entirely too much money (IMnsHO) for his new Mexican RTU contract and that's obviously all they ever really wanted from him anyhow in the first place --- some serious, guaranteed, Gringo cash, payable in U.S. dollars, for a new Mexican RTU contract of dubious worth and very little future resale possibility or value.

Anyway, I took over those two U.S. weeks by executing and recording a proper deed, directly with him as "grantor" here in the U.S., actually hoping (...to no avail) that the Mexican entity would surface and try to challenge the transaction (...they never did so). I paid the maintenance fees, by then already in arrears and overdue, and the fellow was delighted to have effortlessly stumbled into a belated but legitimate and permanent "out". I owned and used those two weeks for several years thereafter.

I sold off those two weeks for peanuts several years later. As it had turned out, I didn't really much like that particular resort and / or the overall surrounding area.
Those weeks were not worth much before or during or after their (...ahem) "trade in" --- and certainly not worth even a tiny fraction of the inflated, artificial "trade in value" figures waved at the starry eyed (but hoodwinked) overpaying RTU contract buyer. I essentially paid one year of (two weeks') maintenance fees for those alleged "trade ins", did all the deed work myself and used them; a relatively small investment, but ultimately just about what those weeks were really worth --- i.e., not much.

The whole (ongoing) trade-in gig in Mexico seems (to me, anyhow) to be just a lot of smoke and mirrors, providing grossly inflated, completely artificial numbers for "trade in value" as a baited hook and then charging equally grossly inflated numbers for a new RTU contract. The trade ins are almost irrelevant in the overall scheme.
The big cash collected in U.S. dollars for the new RTU contract is all they really care about --- not the irrelevant, likely nearly worthless "trade-ins".

Short, summarized version:
Proceed at your peril, if at all.
 
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craigctodd

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Thanks for the responses. But I'm still not sure what to do. I told Timeshare Equity Services I wanted to simply pay the approx $1,000 fee that I'm obligated for and have them take over rights and obligations per the agreement. They have now come back to me saying they will lower the cost for me to keep it (essentially crediting me for one years maintenance fee) so now I can:

1. keep it by paying $1171 and try to sell it myself.
or
2. pay about $1,000 and hope they do follow thru and transfer it to themselves.

I don't know which is better to do. Cabo Villas is a good resort in a good location.
 

DeniseM

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The market is really depressed for Mexican timeshares - to be quite honest, you will have to try to give it away.

That being said, I would certainly would not pay this company $1,000 - you will have no recourse if they don't transfer the timeshare - you will simply be out $1,000.
 

HudsHut

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How recently did you buy the new one? Are you within the rescission period?
If so, rescind now!!

They may be muddying the waters by having you focus on the trade-in, where your focus should be on getting out of the sale completely.
 

TUGBrian

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why not give your timeshare away....then purchase the one you want to buy on the resale market from someone else giving it away?

that seems much cheaper than paying thousands out of pocket for an ambiguous transfer you arent quite clear on in the first place.
 

craigctodd

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I'm way past the time for cancelling the contract (was early Dec.). I sure wish I knew then what I know now, but what's done is done.
Given that the advice is it will be very hard for me to get rid of this thing, it is appealing to simply pay Timeshare Equity Services $1,000 to take it off my hands. On the other hand, I'm advised they may take my money and do nothing. I've searched for info on Timeshare Equity Services and can't find anything; at least I'm not finding a load of complaints. They seem to have been in business about 4 years.
 

TUGBrian

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not finding loads of complaints, other than the F rating by the bbb?
 

theo

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<snip> Given that the advice is it will be very hard for me to get rid of this thing, it is appealing to simply pay Timeshare Equity Services $1,000 to take it off my hands. On the other hand, I'm advised they may take my money and do nothing. I've searched for info on Timeshare Equity Services and can't find anything; at least I'm not finding a load of complaints.
It's ultimately your decision and your call (and your above blue highlighted concern is definitely a very real possibility and very well founded), but if you're actually willing to "go to the hip" for $1k just to place a bet, a hope and a prayer, you might maybe instead consider advertising in the "Bargain Deals", offering to give it away for free --- even throwing in $500 cash to a new, real, living, breathing recipient who will take over that RTU contract. It won't be me, not at any cash bonus figure, but there might just be someone out there. Bottom line, look hard for a real person before you even consider rolling the dice on any obscure and unknown entity most likely created and actively seeking just to fleece you and susceptible others.

You already know that you won't be able to sell this --- and you might not even be able to give it away for free --- but IMnsHO, placing that very risky alternative $1k bet should be an option which you place behind any and every other possible or imaginable option(s).

P.S. Not finding a multitude of filed complaints is certainly no valid basis upon which to place any trust in this unknown entity. The mere fact that you can't actually find anything at all about them should be telling you something very loudly and very clearly, no? :shrug:
 
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craigctodd

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I've not found Timeshare Equity Services (TES) of Montreal/Cancun on the BBB. There was a place of the same name in the U.S. that was very bad. I believe TES of Montreal/Cancun is a different outfit.

I have to pay TES about $1,000 in any case.
1) Pay TES to complete the transfer out of may name (my obligation due to what I signed).
2) Pay TES $1167 (their new offer) to keep it, in my name; this releases my obligation to sign it over to them.

Either way I'm out about the same amount of money. With 1), if TES is honest, it would go out of my name. If not, it stays in my name. If it is truly worth less than zero, then I should do 1) and maybe it will be gone.
 

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I'll bet they'll take $500. They really don't want to transfer it. Try it.
 

LannyPC

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you will find that on average, a "trade in" of a timeshare is an overwhelmingly horrible deal for the owner.

and you will find many of these "solutions" places merely take your money...and you now end up the owner of two timeshares...with matching double maintenance fee bills as a parting gift.
Since we've been seeing a lot of inquiries on these boards lately about these trade-in deals (usually presented and these dreaded TS sales presentations), maybe an article in the TUG Help section would be a worthy endeavour? :shrug:
 

TUGBrian

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not a bad idea, although I'd imagine I could probably just copy the one for "upgrade to points" and replace that term with "trade in for an upgrade"

Ill add it to my todo list!


It just doesnt make any logical sense to me given what ive read here...just to sum up so im not talking out my behind:

1. resort offered to let you out of your ownership for a large fee.
2. resort told you of this timeshare transfer entity that they suggest you use to get out of your ownership for a smaller fee than the resort was offering?

I just cant help but think you are going to regret this decision in the end.
 

MuranoJo

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Has anyone ever dealt with Timeshare Equity Services??

In Cabo San Lucas, I recently bought into Pueblo Bonito Sunset Beach and they took my existing Cabo Villas timeshare as a trade-in and gave me $11,000 credit for it. I do have to pay fees of about $1,000 to complete the trade-in. The trade-in is handled by a place called Timeshare Equity Services in Montreal and Cancun. They have offered me the option to pay them $2,200 (instead of about $1,000) and then they would let me keep my Cabo Villas timeshare. I've looked into selling Cabo Villas myself and I'd be money ahead if I could get more than about $2,000 for it; however, that seems unlikely. Someone I talked to about selling warned me to verify that Timeshare Equity Services will actually transfer the timeshare out of my name and relieve me from obligation to pay maintenance fees. Anyone have any experience with this type of situation?
1. They never 'took' your existing t/s as a trade-in. It was simply smoke & mirrors to make you believe you got a great deal (which you didn't). And (after a fee!) you would be free of your other t/s.
2. Now the phony trade-in place is essentially upping the ante so you can keep what you had in the first place. (Trust me, you will keep it regardless.)
3. You will not get $2000 for it if you sell it yourself. You'll likely have to give it away. Just check out the Bargain Deals forum to see what's been given away for free--sure a few MX here & there, but surprisingly most are nice/'ok' US-based t/s.

Where to go from here?
I'm sure they didn't include the promise of the trade-in within the contract.
I'd first document as much as you can and try Profeco with a request for help.

Sounds like you're past the rescission period, but I'd still contract your CC if you paid any kind of a down payment to challenge the charge.

If all else fails, try giving it/them away on the Bargain Deals.

Best of luck.

P.S. I'd suggest you contact a moderator to change your posting name to something other than an email addy.
 
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craigctodd

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I am happy to report that today I was able to confirm that Timeshare Equity Services (TES) did indeed transfer the Cabo Villas timeshare that I traded in out of my name. I'm of course very happy that they did what they said they would do. The transfer was completed within about 2 months (mid-Feb) but only now have I been able to get through to someone at Cabo Villas to confirm the transfer did in fact take place. I wanted that confirmation before posting the good new re TES. I understand all the warnings and concerns that had been expressed about my transaction, but in this case everything worked as it should and TES did exactly what they promised.
 

theo

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Apples and oranges...

I am happy to report that today I was able to confirm that Timeshare Equity Services (TES) did indeed transfer the Cabo Villas timeshare that I traded in out of my name. I'm of course very happy that they did what they said they would do. The transfer was completed within about 2 months (mid-Feb) but only now have I been able to get through to someone at Cabo Villas to confirm the transfer did in fact take place. I wanted that confirmation before posting the good new re TES. I understand all the warnings and concerns that had been expressed about my transaction, but in this case everything worked as it should and TES did exactly what they promised.
Ola. I'm glad that it may have worked out for you, but I suspect that your particular situation was much simpler than many, in the sense that you simply "traded in" one Mexican RTU contract (plus cash) toward another different Mexican RTU contract. No "ownerships" involved, no U.S. deeds involved --- and hence no real complexity.

It's an entirely different situation when someone "trades in" a deeded U.S. timeshare in Mexico toward a Mexican RTU contract. In that scenario, the trade-in recipient has very different (and far more complex) hoops and hurdles to overcome (in another country) and must first find a new recipient and then fulfill all of the U.S. requirements for new deed preparation and recording here to "close the loop" and finalize an ownership transfer which is actually recognized as lawful and complete here in the U.S.A. Some of those "trade in recipients" in Mexico don't even bother to do anything at all with the alleged "trade in", simply leaving the owner of the deeded U.S. timeshare "on the hook" here in the U.S., where the U.S. resort involved (and the U.S. legal system) could not possibly care any less about some "Mexican trade in" that they know nothing about, do not acknowledge and which was never subsequently finalized in the U.S.A. anyhow. All the resort knows in such cases is that the current deed is still in your name, so it's you that they will (legally and appropriately) "chase" for any future unpaid maintenance fees, any and all prior "trade-in activity or events occurring south of the border in Mexico" notwithstanding.

In any event, I'm glad that it may have worked out for you in this particular instance. You'll know with more certainty within a year when you either do or do not receive any more maintenance fee bills for the "traded-in" RTU contract.
 
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WinniWoman

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Timeshare Equity Services is the company that Timeshare Nation works with, which is how I just acquired my Pollard Brook timeshare.
 

WinniWoman

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theo

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<snip> So what does this mean in my case where I acquired a free timeshare? I mean- the deed/certificate was transferred to me. We have used the unit already and so on.
Not applicable or relevant to you at all, really. In your case a deed / certificate for a U.S. product apparently was transferred into your name, making you the new "grantee" of record --- and you are presumably now receiving and paying the applicable maintenance fee bills and using the timeshare. Done deal.

Problem situations are those in which "trade-ins" in Mexico languish with no subsequent action, no transfer out of the former name on the RTU contract and no transfer into a new name. The folks who get stung for big bucks in these shaky Mexican "trade in deals" are those who believe that they successfully "traded in" in one Mexican RTU contract (with a phony, contrived "value" applied toward a new and different Mexican RTU). Such people can ultimately end up with both contracts in their name (clearly never their goal) or, alternatively, they end up getting "squeezed" (extorted?) later for even more money after the fact to either retain the RTU (which they thought they "traded in") or for a (maybe valid) transfer. The whole thing reeks and stinks of impropriety, but has been going on unabated in Mexico for years now.

I would like to believe that in the U.S., someone would be heading off to prison by now for such practices. In Mexico however, it's apparently "just business".
 
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WinniWoman

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Not applicable or relevant to you at all, really. In your case a deed / certificate for a U.S. product apparently was transferred into your name, making you the new "grantee" of record --- and you are presumably now receiving and paying the applicable maintenance fee bills and using the timeshare. Done deal.

Problem situations are those in which "trade-ins" in Mexico languish with no subsequent action, no transfer out of the former name on the RTU contract and no transfer into a new name. The folks who get stung for big bucks in these shaky Mexican "trade in deals" are those who believe that they successfully "traded in" in one Mexican RTU contract (with a phony, contrived "value" applied toward a new and different Mexican RTU). Such people can ultimately end up with both contracts in their name (clearly never their goal) or, alternatively, they end up getting "squeezed" (extorted?) later for even more money after the fact to either retain the RTU (which they thought they "traded in") or for a (maybe valid) transfer. The whole thing reeks and stinks of impropriety, but has been going on unabated in Mexico for some time.

I would like to believe that in the U.S., someone would be heading off to prison by now for such practices. In Mexico however, it's apparently "just business".
Thanks, Theo. I thought so.
 

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theo

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Please keep in mind, these 'trade-in' deals don't just happen with MX sales.
You can do a search and find quite a few U.S. examples.

Here's one: http://www.tugbbs.com/forums/showthread.php?t=168668&highlight=trade-in+purchase

Here's another one discussing the topic: http://www.tugbbs.com/forums/showthread.php?t=227184&highlight=trade-in+purchase
Excellent point and observations; this slippery slope and very risky gig of "timeshare trade-ins" apparently knows no borders.
 
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