smtn are they legit

[uhcljacobs]

thinking about selling they want 2600 upfront is this ok

 

[echino]

They are legit, but extremely overpriced. Don't do it.

They will charge you $2,600 upfront to advertise on their website, where it will sit forever and will not sell, because they will convince you that your timeshare worth much more than it really is. So nobody is going to pay their suggested price for your timeshare, it will not sell.

List it here on TUG, and maybe on Redweek.

 

[BingoBangoBongo]

I found a deal on their website that is in the process of closing. I’m not thinking it’s very favorable for the seller based on what I am paying, but they get out from under a TS they don’t want anymore. I ended up being contacted by a broker that had the listing. Not sure how they work together, but so far everything’s going quicker than I expected.

 

[vacationtime1]

SMTN also charges exorbitant closing costs which are apparently mandatory in their transactions (exorbitant compared to independent escrow agents and even compared to title companies). This will cost you an additional thousand dollars (additional to the $2,600 listing fee).

A $15 membership in TUG will give you one almost-free listing. Redweek will cost <$100 for a membership and a listing. Both are better selling platforms.

 

[jarnson]

thinking about selling they want 2600 upfront is this ok

NO NO NO - they charge you money up front, then post your sale, then DO NOTHING for you. They have HUNDREDS of listings from people that bought into their sales pitch. I did initially, but bowed out before the legal 3 day limit on a transaction. On top of that closing cost are outrageous. You are better off posting here on TUG, and getting a closing agent (when you get an offer) with someone like LT Transfers lttransfers.com, which is recommended by the folks at TUG

 

[Ty1on]

Think about this. Their profit comes from listing your fee. Once it is listed, they stand to make little more if it ever sells.

 

[TheTimeTraveler]

thinking about selling they want 2600 upfront is this ok

Save your hard earned cash. Place an ad in the TUG classifieds.

What do you actually own? Most timeshares are worth little or nothing so don't spend a nickel to anyone who promises you to do something.

Go on eBay and you will see tons of timeshares for $1.




.

 

[HudsHut]

If what you wish to "sell" is one of the resorts in the system in your profile, then read this.

Sticky - DRI now accepting deedbacks - Give back your Diamond Resorts Timeshare

3/2023 update with new contact details for program: Transitions@hgv.com and phone# 855-342-3689 Original announcement of program back in 2017: https://www.tugbbs.com/forums/index.php?threads/transitions-is-finally-announced.267181/ In order to qualify, the HOA (MFs) must be up-to-date...

tugbbs.com

 

[jmstax]

I found a deal on their website that is in the process of closing. I’m not thinking it’s very favorable for the seller based on what I am paying, but they get out from under a TS they don’t want anymore. I ended up being contacted by a broker that had the listing. Not sure how they work together, but so far everything’s going quicker than I expected.

DONT do SMT, my timeshare has been sitting on their website for TWO years with NO traffic whatsoever. I am in the process of investigating another timeshare cancellation service and will keep my findings posted on this forum. Jeanne

 

[theo]

<snip> I am in the process of investigating another timeshare cancellation service and will keep my findings posted on this forum. Jeanne

With all due respect, there is no such thing as a (legitimate) "timeshare cancellation service", so you need not even bother "investigating". There are lots of "escape / release / exit / relief" parasites out there ready and willing to take your money, but in the final analysis they will accomplish absolutely nothing for you that you cannot do for yourself.

Timeshare ownership is a legal, contractual obligation from which there are no magical escapes or secret exit doors. Ditto for any loans taken to purchase a timeshare.

You can pursue a "deedback" to the developer (an option only available if there is no unpaid loan balance and no maintenance fees in arrears), or sell it, or give it away for free. If none of the foregoing succeed, you can always choose to just face and accept foreclosure (which is actually the only end result any "exit" company will ultimately accomplish; an end result they "achieve" by doing absolutely nothing at all). Once the inevitable foreclosure occurs later, their lame position is "You're out now, just like we promised --- so what's your beef?" Needless to say (I hope), you certainly do not need to pay anyone even a single penny in order to just ultimately face and accept foreclosure.

 

[jmstax]

ok, deedback... I have asked the HGV loan people if I can deedback or "in lieu" and was told No. They dont do that. I suspect I am talking to low level CSR's who really don't know. I am current and owe $14k so no one is buying. HOW do I get out of this? I am willing to do the footwork myself and hire my own attorney if I just could find the path to follow. Any suggestions?

 

[BingoBangoBongo]

DONT do SMT, my timeshare has been sitting on their website for TWO years with NO traffic whatsoever. I am in the process of investigating another timeshare cancellation service and will keep my findings posted on this forum. Jeanne

I made a purchase offer on 12/30 and the Deed was recorded yesterday. Like I said in my previous post, I don't know what their practice is with sellers, however I vetted the agent I ended up being contacted by and the process has been going smoothly and as promised. What price per point is you deed listed at?

 

[The Colorado Kid]

As a buyer, I have emailed SMTN for at least 10 properties over the last year...I have received one reply email in all that time and no reply to my follow up to that one email.

 

[theo]

ok, deedback... I have asked the HGV loan people if I can deedback or "in lieu" and was told No. They dont do that. I suspect I am talking to low level CSR's who really don't know. I am current and owe $14k so no one is buying. HOW do I get out of this? I am willing to do the footwork myself and hire my own attorney if I just could find the path to follow. Any suggestions?

With a $14k loan balance outstanding, "deedback" is simply not an available option, regardless of whether you are current on payments and maintenance fees (and regardless of the "level" of any developer employee with whom you might speak). Deedback is simply a non-starter in your situation.

Paying off the $14k loan balance (if that's even an option for you) may not be financially or mathematically wise either, since you may still have difficulty parting with the ownership, even if paid off. What would be the benefit of paying off $14k only to (...and only maybe) then find a buyer willing to pay you only a small fraction of that amount?

You are in a tough spot. No one on Planet Earth is going to be willing to satisfy your $14k debt when so many timeshares that are owned free and clear are being offered and available at very low cost.

Even the most capable attorney cannot somehow magically "undo" a valid, legally binding contract (or loan) that you previously voluntarily executed of your own free will.
I cannot and will not offer you legal advice or any input provided or intended as a substitute for obtaining professional legal advice. I will say only that if you should decide to consult with an attorney, it may be most beneficial to focus upon the option and implications of foreclosure. Looking for (non-existent) magical escapes from a contractual obligation would, in my personal opinion, just ultimately be a complete waste of time and money. Attorneys are lawyers, not magicians, no matter how capable they might be.

I wish I had some better, concrete suggestions or some positive words of encouragement. Please don't shoot the messenger for there being none to offer you.

 

[RX8]

As a buyer, I have emailed SMTN for at least 10 properties over the last year...I have received one reply email in all that time and no reply to my follow up to that one email.

A seller puts all their faith in SMTN, or any other advertising/listing company for that matter, and this is the kind of service that one can expect for $2,600 or more. Wonder how many sellers are not even notified of potential offers? The reps at SMTN probably didn't get around to responding to potential offers because they were too busy cold calling trying to get more people to sign up.

 

[Marathoner]

I've only dealt with SMTN as a buyer. And as a buyer, I've had good results and good prices that I've purchased at. The closing fees are on the high side but when you are looking for a specific week at a high-end resort, they are not easy to come by on TUG or even Redweek sometimes. SMTN is credible but you do have to be experienced to ensure you are getting a good deal.

Selling a week with a 14k mortgage is not going to happen on any venue.

 

[Nowaker]

HOW do I get out of this?

By paying it off first - and then selling or giving away for free, depending on what you have.

 

[theo]

thinking about selling they want 2600 upfront is this ok

As mentioned by others already, no --- this is not "ok". That aside...

Not previously mentioned within this particular thread, be aware that DRI (your profile indicates owning in Diamond) has a "deedback" program which they call "Transitions".
To use it, there cannot be any outstanding loan balance or any unpaid maintenance fees. I also believe that eligibility may be limited to DRI ownerships which were purchased developer-direct (i.e., not obtained in the secondary / resale market).

I am not peddling or promoting "Transitions", but merely pointing out its' existence. If what you own has little or no resale value (which unfortunately could be the case, depending on what you own) and you are eligible, this option offers a clean, prompt, lawful and guaranteed "exit" for a few hundred dollars --- a very small fraction of the amount you would pay to greedy SMTN for an overpriced "listing" on their lame web site; a "listing" that may never actually be seen or ever receive any interest or responses.

Just some additional thoughts and info for your consideration, fwiw.