ARDA guide on Timeshare Exit

[TUGBrian]

Well, this certainly was a surprise to see this morning! Have to say even if I am partial to TUG...owners reading this are far more likely to avoid being scammed! Its pretty refreshing to see "the industry" point owners to a place they can truly get help from other owners for free!

How to Exit a Timeshare if a Developer Cannot Take Back Your Product | Responsible Exit

Nearly 10 million U.S. households own timeshare products that allow them to travel the world in spacious accommodations with top-tier […]

responsibleexit.com

hopefully this is also a signal that developers/resorts will start working harder on providing legitimate exit solutions for owners directly!

 

[vacationtime1]

omg -- it is close to an endorsement of TUG by ARDA!

 

[pedro47]

Wow! Sounds liked an endorsement for TUG.

 

[pedro47]

Well, this certainly was a surprise to see this morning! Have to say even if I am partial to TUG...owners reading this are far more likely to avoid being scammed! Its pretty refreshing to see "the industry" point owners to a place they can truly get help from other owners for free!

How to Exit a Timeshare if a Developer Cannot Take Back Your Product | Responsible Exit

Nearly 10 million U.S. households own timeshare products that allow them to travel the world in spacious accommodations with top-tier […]

responsibleexit.com

hopefully this is also a signal that developers/resorts will start working harder on providing legitimate exit solutions for owners directly!

Brian, I bet you were surprised today reading this article.

 

[WaikikiFirst]

That is a home run. All the hard work rewarded. I wouldn't have read it without seeing these prev replies.

 

[LannyPC]

The second paragraph said, "If an owner is ready to exit their timeshare, they should first reach out to their developer to learn about potential take-back programs, which provide them with a way to return their timeshare product to the developer that initially sold it to them."

It's not the developer. It's either the TS company or the resort's Homeowners' Association the owner should contact.

 

[gpj555]

This is refreshing to see!

 

[TUGBrian]

Well they did tell me they were doing a story on this and planned to publish it on the RE website, but yes it was much better than expected! kudos to them and I hope every single owner out there reads it before falling victim to another upfront fee scam.

 

[pedro47]

TUGBrian, please be carefully, their maybe a hidden agenda. IMHO

 

[TUGBrian]

Im not terribly concerned about anything nefarious going on there. Ive personally known Jason Gamel for quite some time.

Thankfully working with them in this fashion does not require me or TUG to pull any punches or pretend they still dont have a huge problem with upfront fee resale companies and deedback programs that exist in name only etc.

The truth is always the best defense! Just need to help more owners find it before they fall for the lies...because in this industry the lies are far more attractive!

 

[LeslieDet]

The second paragraph said, "If an owner is ready to exit their timeshare, they should first reach out to their developer to learn about potential take-back programs, which provide them with a way to return their timeshare product to the developer that initially sold it to them."

It's not the developer. It's either the TS company or the resort's Homeowners' Association the owner should contact.

That is not an error. For example, in MVC ownership, owners reach out to MVC to see if the developer will take back an ownership. The individual HOAs will not commit to taking back an ownership, whereas, when the developer takes one back, it is the developer who becomes liable for the annual maintenance fees. Sure, many times a developer like MVC will dump that take back into the MVC Trust, but it still took ownership. The HOA won't do that.

 

[Kelso]

Well, this certainly was a surprise to see this morning! Have to say even if I am partial to TUG...owners reading this are far more likely to avoid being scammed! Its pretty refreshing to see "the industry" point owners to a place they can truly get help from other owners for free!

How to Exit a Timeshare if a Developer Cannot Take Back Your Product | Responsible Exit

Nearly 10 million U.S. households own timeshare products that allow them to travel the world in spacious accommodations with top-tier […]

responsibleexit.com

hopefully this is also a signal that developers/resorts will start working harder on providing legitimate exit solutions for owners directly!

Well, this certainly was a surprise to see this morning! Have to say even if I am partial to TUG...owners reading this are far more likely to avoid being scammed! Its pretty refreshing to see "the industry" point owners to a place they can truly get help from other owners for free!

How to Exit a Timeshare if a Developer Cannot Take Back Your Product | Responsible Exit

Nearly 10 million U.S. households own timeshare products that allow them to travel the world in spacious accommodations with top-tier […]

responsibleexit.com

hopefully this is also a signal that developers/resorts will start working harder on providing legitimate exit solutions for owners directly!

I made a bad deal 2 months ago that is expensive. I assume that it is too late to fix it. Or is there something I can do.

 

[Larry M]

Well, this certainly was a surprise to see this morning! Have to say even if I am partial to TUG...owners reading this are far more likely to avoid being scammed! Its pretty refreshing to see "the industry" point owners to a place they can truly get help from other owners for free!

How to Exit a Timeshare if a Developer Cannot Take Back Your Product | Responsible Exit

Nearly 10 million U.S. households own timeshare products that allow them to travel the world in spacious accommodations with top-tier […]

responsibleexit.com

hopefully this is also a signal that developers/resorts will start working harder on providing legitimate exit solutions for owners directly!

Why would you consider this a surprise? TUG does for more to disprove the notion that "All timeshares are scams" and instead demonstrates that with a little knowledge and effort an owner can receive value from an ownership. Even on the linked page of exit options, TUG offers more options than any of the others.

 

[Larry M]

The second paragraph said, "If an owner is ready to exit their timeshare, they should first reach out to their developer to learn about potential take-back programs, which provide them with a way to return their timeshare product to the developer that initially sold it to them."

It's not the developer. It's either the TS company or the resort's Homeowners' Association the owner should contact.

Heh! Sometimes it doesn't matter who you contact. I had been given an original Fairfield timeshare which had been acquired by Wyndham. The great Fairfield exchange program (which WAS part of the original sales pitch) had gradually become more and more restricted. When Wyndham finally killed it off, I was looking for an exit and called them, using failure to comply with the promise. I had hard-copy catalogs of the exchange programs and terms.

Wyndham didn't argue at all; the agent just asked me to hold while the call was transferred. The next person on the phone listened to my argument and said "We will take it back If you pay $150 in attorney fees. We will send you some paperwork to sign and return with the check." It wasn't until I filled out the paperwork a few weeks later, wrote the check, and was preparing the mailing envelope that I realized that the person I was transferred wasn't at Wyndham--it was the HOA staff at the resort!

By the way, the reason for the few weeks delay was the time it took me to join TUG and inquire as to whether $150 was an excessive fee. All the responders seemed to think it was reasonable. This would have been in 2009.

 

[LannyPC]

That is not an error. For example, in MVC ownership, owners reach out to MVC to see if the developer will take back an ownership. The individual HOAs will not commit to taking back an ownership, whereas, when the developer takes one back, it is the developer who becomes liable for the annual maintenance fees. Sure, many times a developer like MVC will dump that take back into the MVC Trust, but it still took ownership. The HOA won't do that.

I know this debate has come up several times here on TUG about whether or not a developer should be forced to take unwanted TSs back. The argument against it was that, in some cases, the developer has already sold all the intervals and is long gone. So in a case like that, if an owner wants out, whom should he contact?

Here on TUG, we're always advising to contact either the resort's Homeowners' Association or the TS company that might have a deed back program such as Wyndham.

 

[dioxide45]

Here on TUG, we're always advising to contact either the resort's Homeowners' Association or the TS company that might have a deed back program such as Wyndham.

But in this case Wyndham can be considered the "TS company" and the developer. They do both. Both terms can be used interchangeably when it comes to the big hotel branded timeshares.

 

[LeslieDet]

I know this debate has come up several times here on TUG about whether or not a developer should be forced to take unwanted TSs back. The argument against it was that, in some cases, the developer has already sold all the intervals and is long gone. So in a case like that, if an owner wants out, whom should he contact?

Here on TUG, we're always advising to contact either the resort's Homeowners' Association or the TS company that might have a deed back program such as Wyndham.

Your comment was that the guide was inaccurate when it suggested contacting the developer to see if the developer will take back. You suggested instead that the guide should say contact the HOA. I’m simply letting you know that the guide is indeed correct.

In the scenario where an owner is seeking to give back his or her ownership, they ask the developer, not the HOA.

This isn’t a discussion about forcing anyone to take unwanted timeshares back, and it’s not a scenario where the timeshare owner is delinquent in paying HOA dues, and facing foreclosure. If it was a discussion about foreclosures, then yes, the HOA is the entity to contact. Because that’s who does the foreclosing.

But in the scenario that guide is presenting, ie an owner who wants out for whatever reason (and the guide didn’t refer to any pending foreclosure), then the HOA is not going to offer any path for the owner to deed back. Whereas, the developer will. Once a deed back is completed, the developer assumes liability for the maintenance fees so long as the developer remains the legal owner.

 

[dioxide45]

Your comment was that the guide was inaccurate when it suggested contacting the developer to see if the developer will take back. You suggested instead that the guide should say contact the HOA. I’m simply letting you know that the guide is indeed correct.

In the scenario where an owner is seeking to give back his or her ownership, they ask the developer, not the HOA.

This isn’t a discussion about forcing anyone to take unwanted timeshares back, and it’s not a scenario where the timeshare owner is delinquent in paying HOA dues, and facing foreclosure. If it was a discussion about foreclosures, then yes, the HOA is the entity to contact. Because that’s who does the foreclosing.

But in the scenario that guide is presenting, ie an owner who wants out for whatever reason (and the guide didn’t refer to any pending foreclosure), then the HOA is not going to offer any path for the owner to deed back. Whereas, the developer will. Once a deed back is completed, the developer assumes liability for the maintenance fees so long as the developer remains the legal owner.

I think the issue here is big branded timeshare companies vs. independent properties. If you own at a small independent timeshare that is no longer in active sales, you contact the HOA. The developer is no longer involved. There might be a management company, but they are only working for the HOA. They don't sell timeshares. Of course the article is from ARDA and the D does stand for Development.

 

[Pagosa]

Well, this certainly was a surprise to see this morning! Have to say even if I am partial to TUG...owners reading this are far more likely to avoid being scammed! Its pretty refreshing to see "the industry" point owners to a place they can truly get help from other owners for free!

How to Exit a Timeshare if a Developer Cannot Take Back Your Product | Responsible Exit

Nearly 10 million U.S. households own timeshare products that allow them to travel the world in spacious accommodations with top-tier […]

responsibleexit.com

hopefully this is also a signal that developers/resorts will start working harder on providing legitimate exit solutions for owners directly!

Well, the part about renting is pretty bogus! I know, for a fact, that Wyndham will NOT allow you rent your points unless you use Extra Holidays/Vacation Share! It states that right in my contract! I know of owners who rented their points elsewhere and got cease and desist letters from Wyndham threatening so shut their accounts down unless they stopped! So, renting MIGHT be an option, until you get caught!