Selling timeshare in Mexico

[sinegb]

How does one go about selling timeshares in Mexico, owned by a Mexican company? Do I need to hire a Mexican lawyer? I want to sell my Diamante, Cabo San Lucas time shares and don't even know how to begin. Diamante has told me they do not do buy backs, although my contract says they have first right of refusal. Thanks for any good advice.

 

[TUGBrian]

Most if not all mexican timeshare ownerships do not convey actual property or ownership, as such the process and cost to transfer an ownership (easier to think of it more as a membership) is up to the resort or developer.

Diamante should be able to give you all the information regarding a membership transfer and costs should you find someone interested in taking it over.

 

[dioxide45]

Selling may not be the best term to use. Very few Mexican timeshares have any resale value. This is because most of them impose punitive transfer fees. Sometimes X times the annual maintenance fees. This can often reach into the thousands of dollars. Even finding someone to take one for free will be very hard. You may most often be better off to just stop paying and they will revoke your membership.

 

[Fido Chuckwagon]

Just walk.

 

[WorldT]

Not good news. You are unlikely to be able to sell the timeshare. Most of the units (if not all) at Diamante are RTU. Think of it a membership club. If you do not want it, just stop paying, block your card/accounts and it is over. Ignore the calls and threats.

Trying too hard to sell this may end up costing you a lot of money. Be warned. Don't get scammed.

 

[chalee94]

How does one go about selling timeshares in Mexico, owned by a Mexican company? Do I need to hire a Mexican lawyer? I want to sell my Diamante, Cabo San Lucas time shares and don't even know how to begin. Diamante has told me they do not do buy backs, although my contract says they have first right of refusal. Thanks for any good advice.

Be extra careful:

FinCEN.gov

Today, the Financial Crimes Enforcement Network (FinCEN) issued a Notice to financial institutions on the methodologies, financial typologies, and red flag indicators associated with timeshare fraud orchestrated by Mexico-based transnational criminal organizations (TCOs). Mexico-based TCOs such...

www.fincen.gov

07/16/24

"Mexico-based transnational criminal organizations such as the Jalisco New Generation Cartel (CJNG) are increasingly targeting U.S. owners of timeshares in Mexico through complex and often yearslong telemarketing, impersonation, and advance fee schemes. They use the illicit proceeds to diversify their revenue streams and finance other criminal activities, including the manufacturing and trafficking of illicit fentanyl and other synthetic drugs into the United States. The Notice was issued jointly with Treasury’s Office of Foreign Assets Control (OFAC) and the Federal Bureau of Investigation, and published concurrently with an OFAC sanctions action against Mexican accountants and companies for their role in facilitating timeshare fraud on behalf of CJNG."

 

[easyrider]

How does one go about selling timeshares in Mexico, owned by a Mexican company? Do I need to hire a Mexican lawyer? I want to sell my Diamante, Cabo San Lucas time shares and don't even know how to begin. Diamante has told me they do not do buy backs, although my contract says they have first right of refusal. Thanks for any good advice.

Diamante is a desirable property as you know. I'm thinking there is a facebook group with people wanting more time or knowing others that want in. Supposedly, the two golf courses are really a draw for golfers. Too me, it's always windy on the Pacific side so I have a good excuse for snowman.

Try Redweek or even Tug. You won't get anywhere near what you paid but you should get something, imo. It could take a while.

Bill