Holiday Transfer in Seattle WA, and Palace Resorts- stay away

[sorryibought]

Palace Resorts said we could do an equity transfer and Holiday Transfer in Seattle, WA was the US company that was going to handle this. After completing papers to purchase at Palace Resorts and an "equity exchange agreement" to sell our 2 timeshares we paid Holiday $1600. Nothing was done even after calling Holiday and asked if everthing went through. Months went buy never hearing anything. Suddenly our old timeshare company told us we were late with our 2010 maintenance fees. We stated we did not own them anymore. After numbeous phone calls we finally spoke to a Shawn at Holiday and he told us they were in financial trouble and Palace Resorts, took our contract back, what ever that means. Well our old resort said we still own the timeshares and we are responsible for 2010 maintenance fees, plus penalities. We have been turned over to a collection agency. Now palace resorts wants us to start the process over with another company called Global Transfer Co and pay $375 each and give us some vacation credits.

 

[DeniseM]

I hate to tell you this, but Holiday Transfers has recently gone out of business with no notice. Someone visited their office yesterday and it was empty.

I am sorry for your trouble, but if you are trying to give your timeshare back to them, you are basically at their mercy, because they have no obligation to take it back in the first place. Your other option is to keep it. Not very good choices, I know.

 

[yumdrey]

Now palace resorts wants us to start the process over with another company called Global Transfer Co and pay $375 each and give us some vacation credits.

I would not spend a penny without a written guarantee from Palace Resorts. If it (trade the equity) was the condition of your new purchase from Palace Resorts, you can get out of it now and get your new purchase money back or ask them to do it (take the deed back) themselves or ask them to write a letter to you which explains the whole process.
I believe you are not the one who has this hassle, I have seen similar (or the same) case mentioned here on TUG before.

 

[sorryibought]

Palace Resorts and Holiday Transfer

Thank you for your comment. Has anyone heard of Global Vacation Trade, Inc?. That is who they want me to start over with and pay $375.00 up front for each unit. I think I will be in the same boat again, anyone's thoughts.

When you said the following: If it (trade the equity) was the condition of your new purchase from Palace Resorts, you can get out of it now and get your new purchase money back or ask them to do it take the deed back themselves or ask them to write a letter to you which explains the whole process. I believe you are not the one who has this hassle, I have seen similar (or the same) case mentioned here on TUG before.

That was the condition of the purchase, but how do I go about getting it back?

Thank you for helping it is greatly appreciated.

 

[tiel]

We did an equity transfer with Palace Resorts via Global Resort Transfer Inc. earlier this year...don't know if this is the same company you're talking about. For us, the whole process took about 9 months, but eventually the transfer was completed. We followed up with them via email at least once a month, and they always responded in a professional manner. The fee we paid was $375 also.

We had no involvement with Holiday Transfer.