Selling timeshare to title company question

[sgordy]

Hello, we received a call earlier this week from a company that said they needed 4 more timeshares from our location. The lady informed me that they are selling them to a title company and not individuals. She said that they would need $499 upfront and that is all. The title company would cover all the closing costs and whatever costs associated with the process. She also said that there is a money back guarantee and that the process should take about 3-9 months. Sounds like a good deal but with all the timeshare scams these days, how can we know it is true? Any advise?

 

[silentg]

I smell something fishy!

 

[Ty1on]

Hello, we received a call earlier this week from a company that said they needed 4 more timeshares from our location. The lady informed me that they are selling them to a title company and not individuals. She said that they would need $499 upfront and that is all. The title company would cover all the closing costs and whatever costs associated with the process. She also said that there is a money back guarantee and that the process should take about 3-9 months. Sounds like a good deal but with all the timeshare scams these days, how can we know it is true? Any advise?

They are scammers. They will take your $499 fee and you will never hear from them again.

PS it's easy for frauds to offer a money back guarantee. You will neither see your TS transferred nor get your money back.

 

[DeniseM]

This is a common scam - once you pay the fees, they will steal your money, and you will never hear from them again.

Reputable buyers/brokers do not charge the seller up front fees.

 

[sgordy]

Thanks yall!! We will definitely pass on their offer even though it was a pretty good one... We always get calls. So annoying....

 

[DeniseM]

Thanks yall!! We will definitely pass on their offer even though it was a pretty good one... We always get calls. So annoying....

99.999% of the cold callers are scammer. If you don't recognize the phone number, don't pick up the phone.

 

[theo]

Nope...

<snip> The lady informed me that they are selling them to a title company and not individuals. She said that they would need $499 upfront and that is all. The title company would cover all the closing costs and whatever costs associated with the process. She also said that there is a money back guarantee and that the process should take about 3-9 months.

Fwiw, I've never before heard of any title or closing company buying timeshares. The business of title and closing companies is to facilitate resale transactions between buyers and sellers; title companies are neither buyers nor sellers themselves.

Just when I thought I'd already heard every possible scam permutation, a new one surfaces. One has to admire their imagination creativity, despite their complete lack of credibility, ethics, honesty or integrity.

The "money back guarantee" is basically that once they have the money ($499, in this case) your are guaranteed to never to see it again, let alone get it back.

 

[Passepartout]

sgordy, no one will EVER cold call you to give you money. And there is no reason for any entity to buy timeshares from 'your area'. It makes no difference where you are from.

But if you truly DO want to rid yourself of your timeshare, you can list it in te TUG Bargain Deals subforum in Buying, Selling Renting forum. Simply follow the format you'll see there. Make an ad that puts your resort in the best light and keep it refreshed every few days to keep it high on the page. You may offer to pay closing and transfer fees, or throw in a gift card on closing to sweeten the deal. Unfortunately most TUGgers know that Westgate strips just about everything of value from resales, but it is what it is.

 

[DeniseM]

Bargain Deals Forum: http://www.tugbbs.com/forums/showthread.php?t=132509