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Global Vacation Trade

JEB4290

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We had a timeshare with the Mayan Sea Garden, we just traveled to Cancun Palace and "sold" our timeshare in a deal with Cancun Palace. They told us that we would be required to pay a 10% transfer cost for the sale of the Mayan Sea Garden and to expect a call from Global Vacation w/in 30 days. Well, we got the call and were going to pay the 10% when they told us that we could pay and still keep our Mayan Sea Garden. Orignally the cost was 1200, but they brought it down to 600. It would be as if we never sold the Mayan Sea Garden and we could use it again in a trade if we needed to. This sounds all to good to be true... Are we required to pay a 10% transfer fee?
 

LannyPC

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Very Fishy

There are a number of things wrong with this proposal.

First, the fact that you could "still keep [your] Mayan Sea Garden" tells you that they don't want it because it is worthless junk on the resale market. They don't want it along with its maintenance fees. If you accept their proposal, you will now own 2 low-value timeshares with their accompanying MFs.

Second, if there were a real sale and a "10% transfer cost", that cost would be paid to the Mayan Sea Garden and not the Cancun Palace or Global Vacation Trade.

Finally, the 10% equaling $1200. That means that they are telling you that the property is worth $12000. No Mexican timeshare is worth $12000 on the resale market. Some owners of Mexican timeshares are defaulting just to get out of their contracts. Many are listed on E-bay for peanuts -- and some are ending without any bids!

From what you are saying about Cancun Palace and Global Vacation, I would stay away from them.

By the way, how did you meet up with Cancun Palace? Did they invite you to a sales presentation?
 

JEB4290

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Thank you very much for your reply....

We do not have a yearly MF, we only pay if we use it.

The transfer cost was described as 10% of what we purchased the Sea Garden at, which equalled ~600 USD. The 600 was to pay for "completion, notaization, and execution of all documents necessary to transfer title and ownership". From what I read on here 600 is extremely high for this task.

It seems to me that since the timeshare isnt worth anything anyway that they would rather not deal with the whole title transfer and just let me keep it for 600. Either way, they are going to get the 600 out of me because I signed the GVT agreement at the Cancun Palace. So either I say NO, I don't want the Sea Garden, send me the paperwork to transfer the title and be charged 600 or keep the Sea Garden and still be charged 600. Would you agree?

We traded in our week at the Sea Garden for a week at Cancun Palace.

Thanks again for your reply!
 

LannyPC

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Have you already paid $600? If so, I would look into getting my money back. I'm guessing you do not want or need another Mexican timeshare. Also, I would just refuse to accept that ownership of an extra Mexican timeshare week. You have extra MFs plus, if/when you want to sell (or give away) that unit, a lot of these Mexican resorts are charging exorbitant transfer fees, making it totally unattractive for others to want to buy or take it from you.

You also said that you traded from the Sea Garden to stay at Cancun Palace? My guess is that, at CP, they lured you into one of their sales presentations with free trinkets. When you go to one, especially in Mexico, never believe a word the sales people tell you. They will tell you so many lies, half-truths, twisted and exaggerated numbers, skewed figures and statistics, and omit other important (and very unattractive) details just to get you to buy.

If you absolutely have to take that $600 loss to avoid taking on unwanted ownership of another worthless timeshare, then that $600 will pale in comparison to what you will be shelling out in the future. Just refuse the extra unit.
 

LesaM

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Similar Situation...

We have a similar situation with a different transfer company. We want to get rid of the timeshares, but the transfer fee they now tell us is $850 per timeshare. Seems like a lot. One is a US deeded timeshare. The other is a Mexican timeshare that we are unloading. What can we do?
 

LannyPC

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We have a similar situation with a different transfer company. We want to get rid of the timeshares, but the transfer fee they now tell us is $850 per timeshare. Seems like a lot. One is a US deeded timeshare. The other is a Mexican timeshare that we are unloading. What can we do?
Have you tried the free giveaway method here on TUG?

http://tugbbs.com/forums/showthread.php?t=132509
 

LesaM

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Giveaway

Thanks. We have a trade in agreement with TATW, which was part of the deal with the separate agreement we reached with the travel company we were dealing with. We could buy our units back and give them away, but we really want to get rid of them. I'm just working on negotiating what a fair "transfer fee" is, which includes admin fee, resort transfer fee, recording fee (although one doesn't have a deed and one does). So far they seem like they are willing to work with us, but I just need an idea of what is fair.
 
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