Someonewhoknows
newbie
Ok, time for an update...and some disclosure.
On the disclosure side, I've been in the TS industry for 21 years, and I'm extremely well connected with some very influential people in the industry. I'm somewhat embarrassed (and obviously confused) about this whole thing, but the good thing is that I've been able to connect with senior people at RCI, Interval, ARDA and the parent company of Timeshare Closing Services, Vacation Innovations. It's apparently "being handled", and it's moved up the food chain...but it's still a mess.
First, my entire dialogue with George Friedman was done via text message, and I have copied and pasted all of the texts to the people who can (hopefully) help. He has vaguely described the sale as "bogus" and has emphatically stated to me that "mgt is telling you that you are not an owner and will not be occupying the unit."
When I look at my escrow docs, the seller is listed as "Timeshare Free, LLC"; an entity that I assume is a relief company. (Why anyone would PAY a relief company to take a Jazzfest week off their hands is beyond me. The cheapest week out there right now is $10,000+!) I assume that Friedman (rightfully) hates relief companies - as do I - and he doesn't want to honour the transfer. In this case, however, they actually have a legitimate owner waiting in the wings to take over the ownership, pay the maintenance fees, etc. Why would he want to kill a deal like that? As I've said before, there's a real incentive for him to buy back that week at a discount price.
He has taken straight aim at Timeshare Closing Services, and his first text to me said the following: "They solicit elderly timeshare owners ovr the phone havem attnd meeting at hotel. Promise to take title of week for paym of $2500 or more for service we do for $295. After chk clears they file fudged paperwork plus skip on real estate transfer tax. Totally out of compliance. Week u paid them for still in name of original owner. TCSI is a missouri corp doing biz in fla w no registr w state that we cld find. Business of brokerng n trans title to fee simple real estate without reg or affiliated real estate broker not legal. I have informed owner of record of situation. I value my Louisiana ts lisc so will no do bus w TCSI."
Clearly, Friedman seems to have confused TCSI with a "relief company". TCSI (as well as CJ Timeshares) are furious, and they've apparently engaged their legal department to defend these "slanderous comments".
I have no idea where this will end up - I'll keep y'all posted - but I do know that if the deal doesn't close, I'll have all my money returned by TCSI. The bigger (and more pressing) issue is that two airfares have been already purchased, Jazzfest tickets bought and, as it sits, we have no place to stay. :>(
Thanks for all your support folks - you're the best!
On the disclosure side, I've been in the TS industry for 21 years, and I'm extremely well connected with some very influential people in the industry. I'm somewhat embarrassed (and obviously confused) about this whole thing, but the good thing is that I've been able to connect with senior people at RCI, Interval, ARDA and the parent company of Timeshare Closing Services, Vacation Innovations. It's apparently "being handled", and it's moved up the food chain...but it's still a mess.
First, my entire dialogue with George Friedman was done via text message, and I have copied and pasted all of the texts to the people who can (hopefully) help. He has vaguely described the sale as "bogus" and has emphatically stated to me that "mgt is telling you that you are not an owner and will not be occupying the unit."
When I look at my escrow docs, the seller is listed as "Timeshare Free, LLC"; an entity that I assume is a relief company. (Why anyone would PAY a relief company to take a Jazzfest week off their hands is beyond me. The cheapest week out there right now is $10,000+!) I assume that Friedman (rightfully) hates relief companies - as do I - and he doesn't want to honour the transfer. In this case, however, they actually have a legitimate owner waiting in the wings to take over the ownership, pay the maintenance fees, etc. Why would he want to kill a deal like that? As I've said before, there's a real incentive for him to buy back that week at a discount price.
He has taken straight aim at Timeshare Closing Services, and his first text to me said the following: "They solicit elderly timeshare owners ovr the phone havem attnd meeting at hotel. Promise to take title of week for paym of $2500 or more for service we do for $295. After chk clears they file fudged paperwork plus skip on real estate transfer tax. Totally out of compliance. Week u paid them for still in name of original owner. TCSI is a missouri corp doing biz in fla w no registr w state that we cld find. Business of brokerng n trans title to fee simple real estate without reg or affiliated real estate broker not legal. I have informed owner of record of situation. I value my Louisiana ts lisc so will no do bus w TCSI."
Clearly, Friedman seems to have confused TCSI with a "relief company". TCSI (as well as CJ Timeshares) are furious, and they've apparently engaged their legal department to defend these "slanderous comments".
I have no idea where this will end up - I'll keep y'all posted - but I do know that if the deal doesn't close, I'll have all my money returned by TCSI. The bigger (and more pressing) issue is that two airfares have been already purchased, Jazzfest tickets bought and, as it sits, we have no place to stay. :>(
Thanks for all your support folks - you're the best!