Do Expedia, Orbitz, Hotels.com buy timeshares for CASH? Or is it a scam?

[parkersport]

Recently, we were contacted by phone by a salesperson promising to buy our Vail timeshare for cash, stating that his company buys weeks for resale on sites like hotels.com, expedia, orbitz, etc. My husband took the call, so I didn't get all the details, but am wondering if anybody else has had this or similar experience, and whether it's a scam... or what? Thx, ParkerSport

 

[bccash63]

Sounds like a scam--I have never seen timeshares listed for sale on any of the sites you mentioned. Dawn

 

[parkersport]

Not for sale; buy for CASH

The claim was that they would buy our timeshare, and then sell the hotel nights to companies like Expedia, Hotels, Orbitz for inclusion in travel packages. They said the properties themselves were not fond of this practice, but that the hotel rooms were in high demand in resort locations like Vail, Beaver Ck., etc.

 

[T_R_Oglodyte]

Interesting.

As part of its sales pitch, Wyndham is telling prospects that as a Wyndham Fair Share owner you can reserve a unit, then put that unit up for rent on Expedia, hotels.com, and similar sites owned by Wyndham. IIRC, Wyndham keeps 35% of the proceeds.

Because the renter is dealing with Expedia or a similar entity, supposedly the owner can get the same rates for the unit as the hotel would get for the same listings, allowing the owner to come out ahead as compared with trying to rent themselves.

I haven't seen any reports here or at TS4Ms to verify that this process works as advertised. If it does work as described, it might be a significant benefit for FairShare owners. It also wouldn't surprise me if this benefit was only available to FairShare members who bought from the developer and are at the VIP level or higher.

 

[timeos2]

The claim was that they would buy our timeshare, and then sell the hotel nights to companies like Expedia, Hotels, Orbitz for inclusion in travel packages. They said the properties themselves were not fond of this practice, but that the hotel rooms were in high demand in resort locations like Vail, Beaver Ck., etc.

They would buy it? Who are "they"? What did they offer $$? Sounds like a fresh brewed scam although the underlying idea has some merit. Thats probably how they rope people in. Just enough truth to make it plausible but they get money out of you at some point (listing fee, registration fee, etc).

 

[parkersport]

Ya... they said they'd buy it...

Said they would present the opportunity to the "buyer" and that we could expect a contract amount of ~ $21-$23K... which is roughly 3x what we paid 10 years ago. I am a Realtor and overly skeptical.. the idea seems like it would take a long time to repay itself when condos in winter in Vail go for...like, $2500-$4000 per week on the short term, in this relative location.

Think we'll go w/direct sales through our resort, but would be interested to know if anybody else gets a similar proposition. -PS

 

[rickandcindy23]

Said they would present the opportunity to the "buyer" and that we could expect a contract amount of ~ $21-$23K... which is roughly 3x what we paid 10 years ago. I am a Realtor and overly skeptical.. the idea seems like it would take a long time to repay itself when condos in winter in Vail go for...like, $2500-$4000 per week on the short term, in this relative location.

Think we'll go w/direct sales through our resort, but would be interested to know if anybody else gets a similar proposition. -PS

This is a scam. No way can you get 3 X what you paid for it.

 

[parkersport]

Eagle Point 2B Winter, Vail

What do you think is a fair price, since you're somewhat familiar with the area, and VERY familiar with the timeshare market!

 

[Talent312]

... I am a Realtor and overly skeptical...

Ummm, sounds to me like you're not nearly skeptical enuff. Remember: "If it sounds too good to be true, it probably is." Unless that is, you get cash on the barrel head. If the TS developers could get 3x what you paid them, they'd be doing this themselves, instead of trying to sell these units to hapless owners like you. Don't you folks usually check out comparables B4 setting or accepting sales prices?

 

[AwayWeGo]

One-Third The Price Paid Is Lots Likelier Than 3 Times The Price Paid.

No way can you get 3 X what you paid for it.

Shux, folks who paid full freight can count themselves lucky if they sell for 1/3 of what they paid the timeshare company.

So it goes.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[rickandcindy23]

http://www.eastwestintervalsales.com/default.aspx?p=2081

This was a link from your resort's website. These are the "for sales" at Eagle Point.

 

[parkersport]

Still learning, sorry.

I'm an expert in my local residential real estate sales market... not timeshare sales, and even with industry resources available to me, I find it amazing the number and huge variety of different TS methods, pricing, use/trade/points/buy/sell strategies, etc. I also find it amazing that this forum exists, that any person can be as learned as you all seem to be. We came by the time share due to an otherwise family tragedy, and now need to sell it. Skeptical, yes; naive perhaps, yes; stupid, no. Learning more by the minute, and just searching for advice; among all the sites out there, this one seems to be the most informative.

 

[Hoc]

What do you think is a fair price, since you're somewhat familiar with the area, and VERY familiar with the timeshare market!

If you really want the truth -- 2BR Winter, Eagle Point, you are probably looking at about $2,500 as a price that will sell inside of a year. If you're willing to pay annual fees and wait longer, you might get as much as $3,500.

 

[SBK]

???

In one post you mention how much you paid for the unit; in another you imply you inherited it. On a totally different thread you say your husband lost his job and that's why you have to sell.

Please clarify. This sounds funny.

 

[calgarygary]

This poster is looking very fishy. I must be jaded but was wondering if the IP address is the same as a poster who showed up last weekend with some very educated questions (especially for someone that claimed to be new to ts).

 

[parkersport]

In one post you mention how much you paid for the unit; in another you imply you inherited it. On a totally different thread you say your husband lost his job and that's why you have to sell.

Please clarify. This sounds funny.

I didn't say "inherited," I said "came by"... we bought it from a distressed relative, why/why not is not your business, and my husband did lose his job. Not sure why it matters; just trying to figure out how not to get scammed. Rick and Cindy seem nice...

 

[AwayWeGo]

Wait Till You Get To Know Them.

Rick and Cindy seem nice.

Just kidding -- they are nice.

Not only that, TUG-BBS is loaded with other nice folks as well. There are relatively few of us sourpusses inhabiting the place.

If some of us seem semi-jumpy at the moment, it's only because we recently encountered somebody who came on newbie but seemed to savvy up uncommonly fast after quizzing us about psychological tricks involved in full-freight timeshare sales presentations.

Most of the time, most of us here keep our replies pretty much on the level. We just like to make sure the questions are equally straightforward.

However that may be, TUG & TUG-BBS are valuable timeshare information clearinghouses any way you shake it. Thanks for joining in on the discussions.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[parkersport]

Well, Alan... you seem nice too!

How do you eat buttered corn, btw??

PS

 

[parkersport]

McLean...?

Do you have any Cabarras (sp?) County kin? How about Query (MacQuarrie, once)? Could be we're related...

 

[Talent312]

I didn't say "inherited," I said "came by"... we bought it from a distressed relative, why/why not is not your business, and my husband did lose his job. Not sure why it matters; just trying to figure out how not to get scammed. Rick and Cindy seem nice...

Ah, now you're getting a taste of how jaded some of us are. On the net, who knows whom any of us really is? I, myself, pretend to be a middle-aged, pudgy, joe six-pack, Florida Gator, when in fact I'm really Barbara Bush. No, seriously.

Anyway, travel agencies (even these mega-agencies) make their money by booking folks into other people's properties, not their own. If they thought that they could make money by owning their own units (which the MF's alone would defeat), they'd be more likely to strong-arm Hilton, Hyatt, Marriott, Sheraton and the like into wholesaling their own products directly, and not rely on third parties like this joker. I suspect the moment you tell this fellow to show you a cashier's check or a letter of credit from a bank, he'll disappear.

 

[calgarygary]

Sorry if my "fishy" post offended you. You did have a post (which has since been removed) that had all the appearances of an ad. In both this thread and the other thread that has been locked, you started seeking info. on an almost too good to be true offer (which many in ts have been burnt by) and over time, some wolves in sheep's clothing have come on here trumpeting some great new system. I hope that you find answers to your situation and once again apologize if my caution offended you.

 

[parkersport]

OK... now you all seem nice.

:whoopie:

Thanks,

ParkerSport
"The not so savvy TS owner"

 

[e.bram]

Hell,I always thought Val Chatelle was in San Francisco. I was jealous.