Anyone know anything about a resale company called Timeshare Property Management?

[SueperMom]

HELP!! I've been talking to these folks - who claim that they resell timeshares by providing the same type of 2-3 day "free vacation" presentations at which some of us neophytes were originally suckered, umm I mean sold to.

They set the intended purchaser up at the local FL timeshare that is being offered for resale, to enjoy the accomodations and require them to attend their own version of the usual 90 minute+ high-pressure sales presentation. This, they say, is the only way to resell timeshares and get a reasonable amount. They advise pricing the timeshare a bit below what the developer is marketing the same unit for, but still a lot better than one can get on eBay!

They do want $899 upfront -"to cover the presentation cost, Title Search and all other reselling costs" but they are indicating that they would be willing to split their fee and defer half of it until after the sale.

Is this another scam?? I ran them thru BBB and it finds the company name but just says that BBB has no complaints against them.

I know that the "heads-up" is to RUN from any company that wants to charge anything significant up front, but I haven't seen anything about reselling with an actual vacation presentation like this. Does it make a difference in the "RUN" advice? Where else can I check them out?

Any thoughts?

 

[DeniseM]

Welcome to TUG!

No matter what they say, once they have your up front fee, what's their motivation to actually SELL your TS?

And do you really want to be a part of their high pressure scheme?

Don't do it!

Good luck!

 

[SueperMom]

They claim that they make a sizeable amount of their money from the financing of the resale. They also say that, until it sells, they will rent it at no additional fee - although they "say" that they typically sell within about 90 days.

They tell me that, in Florida, resale of timeshares falls under the oversight of the Dept. of Consumer Services & Agriculture - which is where they claim to be licensed. I am getting more specifics.

Sound believable? Fishy? Stink to high Heaven?

My husband really wants to sell our timeshare if we can actually get any real money for it - he was "downsized off" about a month ago and we haven't yet been able to replace his income. Good jobs in construction are tough right now

 

[DeniseM]

They claim that they make a sizeable amount of their money from the financing of the resale. They also say that, until it sells, they will rent it at no additional fee - although they "say" that they typically sell within about 90 days.

Again, what's their motivation to sell it once they have your money? If you give them your money I can guarantee you will be back in 6 months to tell us that you are out $899, still paying the maintenance fees, and they haven't sold your TS.

Don't do it...

Instead, read the info. at the top of this page about how to sell your timeshare yourself. If there is any market for it, you can sell it. If not, you might consider giving it away to get rid of the maintenance fee.

Good luck!

 

[SueperMom]

They say that their continued $$ motivation is the additional monies received through the financing. Also, "Additional motivation is that we are a legit co."

Is the other "stuff" they are telling me valid?

Does timeshare resale actually fall under the Dept. of Consumer Services & Agriculture? They say that each of the Timeshare Property Management employees is individually licensed and, as well as TPM itself, has a valid license w/ the Dept. of Consumer Services & Agriculture (a Federal Dept?). They claim that they must pass thorough background checks to get these licenses.

They say that they use Timeshare Transfer (which has the Real Estate License) as the Title, Deed Transfer & Escrow company. And that thay use Resort Closings or Resort Transfer to prepare the deed & closing.

I don't mean to be a pain, but I promised my hubby I would really check these folks out.

I really appreciate your help,
Susan

 

[calgarygary]

Susan, if you really appreciate the help then just listen to the advice and stop repeating the lies that you have been told. There is a simple way to determine if the company is legitimate with a good business model - get them to take their fees out of the sale. I guarantee that they will refuse to do so with some form of disclaimer about out of pocket expenses, advertising expenses etc.

The names change, the lies change the only thing that remains the same with these upfront companies - they victimize the uninformed.

BTW - timeshares are regulated by states and provinces in the U.S. and Canada.

 

[DeniseM]

They say that their continued $$ motivation is the additional monies received through the financing. Also, "Additional motivation is that we are a legit co."

Is the other "stuff" they are telling me valid?

Does timeshare resale actually fall under the Dept. of Consumer Services & Agriculture? They say that each of the Timeshare Property Management employees is individually licensed and, as well as TPM itself, has a valid license w/ the Dept. of Consumer Services & Agriculture (a Federal Dept?). They claim that they must pass thorough background checks to get these licenses.

They say that they use Timeshare Transfer (which has the Real Estate License) as the Title, Deed Transfer & Escrow company. And that thay use Resort Closings or Resort Transfer to prepare the deed & closing.

I don't mean to be a pain, but I promised my hubby I would really check these folks out.

I really appreciate your help,
Susan

I know it's not what you want to hear, but we've given you our best advice.

None of these claims and promises matter, because there is no guarantee that they will actually sell your timeshare.

Right now the timeshare resale market is flooded with timeshares because of the economy. Even very nice timeshares are selling for $1 - or not selling at all. On ebay alone, there are 1,500 timeshares for sale and there are pages and pages of them listed for $1.

PM me with the name of your resort/season/size and I will see if I can find some Comps for you. (However, due to TUG rules, don't post the info. here.)