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[ 2014 ] Trade-in to Timeshare Equity Services

Time Share Equity

Frank Towers, did you have any luck with TES? We just purchased a timeshare with Gran Solmar in Cabo and they said TES would be taking our timshare in Florida. We are just concerned that they will not go through with their part. :(
 
Silvia69 said:
Frank Towers, did you have any luck with TES? We just purchased a timeshare with Gran Solmar in Cabo and they said TES would be taking our timshare in Florida. We are just concerned that they will not go through with their part. :(
Click to expand...
Sylvia how long ago did you purchase Gran Solmar? Are you within your five-day right of rescission period? If so, rescind while you still can. Do some more research. The deal will still be there if you decide it is what you really want, but once the five business days pass you will be stuck with it.
 
Timeshare Equity Services

We were offered a "trade in" value for our old timeshare (El Cid) when we purchased a new time share (Grand Solmar). The cost of the new one was discounted by the trade in.
Now through Timeshare Equity Services we have an option to retain the old one, why wouldn't we want that to use for trading for other locations?
But TES is asking us to pay $1500 for the paperwork between the 2 time share companies.

QUESTIONS: If we are retaining full ownership of our old timeshare property, how can the equity be used for the purchase of the new one?
In essence, the new time share company discounted the purchase price by the trade in value. Therefore there is no transfer of property between the old one and the new one, and therefore no need for Timeshare Equity Services.

Am I thinking this through correctly or missing something....please help!
I sure enjoyed the discussion previously.
Thanks!
 
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bluecheeze said:
We were offered a "trade in" value for our old timeshare (El Cid) when we purchased a new time share (Grand Solmar). The cost of the new one was discounted by the trade in.
Now through Timeshare Equity Services we have an option to retain the old one, why wouldn't we want that to use for trading for other locations?
But TES is asking us to pay $1500 for the paperwork between the 2 time share companies.

QUESTIONS: If we are retaining full ownership of our old timeshare property, how can the equity be used for the purchase of the new one?
In essence, the new time share company discounted the purchase price by the trade in value. Therefore there is no transfer of property between the old one and the new one, and therefore no need for Timeshare Equity Services.

Am I thinking this through correctly or missing something....please help!
I sure enjoyed the discussion previously.
Thanks!
Click to expand...

1. The "trade in discount" was just smoke and mirrors; a common and long standing ploy in 'ol Mexico. Chances are very good that others have paid the same (or less) for the very same RTU contract without any such "trade in". In essence, the "trade in discount" was just a shiny lure dangled in front of you as "bait" --- and you bit.

2. Afaik, You didn't / don't actually have any "ownership" anyhow and, accordingly, no "equity". You almost certainly just have a right to use (RTU) contract, probably date defined (commonly 20, 30 or 40 years). Actual resale market value of your RTU contract was / is is likely somewhere squarely between very low and zero.

3. Asking you to pay $1500 to "keep" the (traded in) contract that you already had is essentially just more gringo dollar extraction. They don't want your "traded in" RTU contract anyhow. It is worthless to them --- and they will now promptly and gladly take $1,500 more from you to let you "keep" it. It's your decision whether it has sufficient value for use or exchange to warrant continuing to pay annual fees --- plus the new one-time $1,500 charge just to "keep" what you already had anyhow.

I apologize if this summation seems harsh, but it is nonetheless accurate. You're examining the matter as if "on the up and up". It isn't, plainly and simply stated.
 
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bluecheeze said:
Timeshare Equity Services

We were offered a "trade in" value for our old timeshare (El Cid) when we purchased a new time share (Grand Solmar). The cost of the new one was discounted by the trade in.
Now through Timeshare Equity Services we have an option to retain the old one, why wouldn't we want that to use for trading for other locations?
But TES is asking us to pay $1500 for the paperwork between the 2 time share companies.

QUESTIONS: If we are retaining full ownership of our old timeshare property, how can the equity be used for the purchase of the new one?
In essence, the new time share company discounted the purchase price by the trade in value. Therefore there is no transfer of property between the old one and the new one, and therefore no need for Timeshare Equity Services.

Am I thinking this through correctly or missing something....please help!
I sure enjoyed the discussion previously.
Thanks!
Click to expand...
Hey, Bluecheeze - what did you decide, and were you able to come up with any new information? I'm just now facing the same situation with TES where they have given us a counter off to allow us to keep the t/s we had arranged to have them 'buy back', in exchange of course for $4,000 extra, on top of the $2,000 admin fee/processing fee. I've said 'go fish' to this offer and they're countering again with "well, what will it take in price reduction to go along with our deal".
I have the same questions as you did (above) and the whole thing sounds too fishy. What did you end up doing?

Thanks
Seattleman
 
Tulum Tom,
IF - you want the El Cid ( and only if !!!) counter offer .

If sold on ebay it goes for $ 1 or so . Under $ 500 will likely get it back.
( ie your paperwork / chances are it is still in your name as far as El Cid is concerned )

If you want it -I would start at no more than $ 100
and then flea market bargain .

( less than $ 100 - they probably tell you to go fish )

This comes up in the Mexican Forum regularly
 
The property being exchanged is actually in Tulum, and its been worth it to us only as a property to exchange thru RCI. We've never stayed in that resort since its mandatory all inclusive, and we don't see the value in paying all inclusive fees. But i like your idea of starting very low, hopefully they'll take the bait. Thanks for the tip.
T
 
craigctodd said:
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.
Click to expand...
Just writing you to reaffirm that you were able to get out of your timeshare through TES. Guessing you paid $995 for this to happen? Were there any hassles along the way? I am going through something similar with TES and just want these timeshares out of my name. Thanks for responding back.
 
Tuckerdog said:
Just writing you to reaffirm that you were able to get out of your timeshare through TES. Guessing you paid $995 for this to happen? Were there any hassles along the way? I am going through something similar with TES and just want these timeshares out of my name.
Click to expand...

Keep in mind that you are responding to a post that's over five years old. You can try to contact the OP via personal message.

You said you were "going through something similar with TES". Have you paid them anything yet? If so, how long ago and what did TES promise to do for you?
 
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