The meeting
We arrived at the hotel and inquired about just where the travelexclusive representatives were located in the hotel, one would have thought that someone would have met us in the lobby or at least they would have had a poster on an easel or something. We wandered about the hotel looking for the meeting room and finally found it.
Several groups of folks were sitting about the vestibule of the meeting room filling out forms. I picked up one of the forms from a table full of clipboards, I figured we had better start filling it out although there was no one to tell us what to do. Finally a representative walked over and introduced himself and inquired if we have any questions, we wondered about the format of this meeting, the representative said that we will be treated to a short presentation and then meet individually with him to work out the details of their (actually our) purchase. I really wanted to ask if this was going to cost me anything but we were all directed to enter the meeting room where the presentation began.
The host explained that all shares would be sold to an entity named Travel Club and then continued his talk with an explanation of why many folks have become disillusioned with the timeshare concept, our ownership is becoming devalued because of the lack of exclusivity. The promotion of RCI endless vacations and other such programs that sell our weeks over the internet to anyone adversely affect availability well.
The presentation continued with the host's own story of his attempt to sell his timeshare via one of the most advertised organizations. The host never had any contact from any buyer at any time using this method.
Reasons not to buy and prohibitions to selling timeshares culled from media resources highlighted the next few minutes of the talk. Quotes from well respected financial experts were quite compelling and warned against becoming involved in timeshares if you expect to use it as a financial investment. "Timeshares are all about the contract and not the property".
The standard contract used in the timeshare industry and its iron clad elements and interminable attributes were highlighted for a few minutes. Your heirs will become responsible for the maintenance fees, special assessments and other such expenses as they are inevitably passed along in perfect perpetuity.
This organization will assume ownership of your timeshare, and it starts today. They handle the complete process, closing, resort and developer fees and paperwork. A tax strategy using the capital gains schedule D can help offset the the price of their service which is seven times your maintenance fee or $3495 which ever is less for each contract to be purchased. A fifty percent savings on the price will be used for multiple contracts if you have more than one. I did not take the travelexclusive folks up on their offer, of the ten or so groups that were in our presentation only one couple remained after we left. Perhaps no one participated in their offer that day.
