Timeshare compliance escrow service

[Mel228]

Hi I'm new and dont know if I'm posting in right area.
My question is I know most people say dont pay upfront fees to timeshare exit companies.....but what do you think about Timeshare compliance, who uses a 3rd party escrow company to hold your money until they complete the deal n get you out of your timeshare legally? They dont get paid unless they complete what they promise or Escrow returns your money. Has anyone heard of this?

 

[SteelerGal]

How much would you have to place in escrow?
IMHO, it’s the same as a timeshare exit company. What are they going to do that you can’t do? You can list on Tugs for free, sell via RedWeek, or even work w/ an Agent if your TS has worth. Or you can contact the resort to see if they have a deedback program.

 

[TheTimeTraveler]

How much would you have to place in escrow?
IMHO, it’s the same as a timeshare exit company. What are they going to do that you can’t do? You can list on Tugs for free, sell via RedWeek, or even work w/ an Agent if your TS has worth. Or you can contact the resort to see if they have a deedback program.

STAY AWAY.

Do not pay ANY money to rid yourself of the Timeshare and ask yourself the question: Would you sell your house and place the Real Estate Brokers commission in an escrow account prior to he or she listing the property? No.

Give you timeshare away here on TUG instead, and it won't cost you any money at all.



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[theo]

My question is I know most people say dont pay upfront fees to timeshare exit companies.....but what do you think about Timeshare compliance, who uses a 3rd party escrow company to hold your money until they complete the deal n get you out of your timeshare legally? They dont get paid unless they complete what they promise or Escrow returns your money.

"They promise"? You're kidding, right?

This is just another variant on the (far too many) useless "escape / relief / exit / rescue" operations out there preying upon timeshare owners desperate to part with something they don't want anymore, but cannot sell. Take a step back and think of it this way --- once you pay upfront money to any such parasitic operation, what motivation exists for them to do anything more than just say "Thanks"? After all, by then they would already have all the money they would ever get from you anyhow, firmly in hand (or in the bank).

Also, consider the possibility that the "Compliance" entity and the (alleged) "third party escrow company" could actually all be the very same people, just wearing different hats and / or using different addresses for different parts of their "operation", or perhaps they really are distinctly separate entities, but operating in cahoots with one another and, by agreement, sharing portions of the "take".

Last but not least, this could be an operation which (if they actually do anything at all) just dumps the ownership into a phony LLC, created solely to evade contractual and financial responsibilities. That is fraud (and potentially a criminal offense). Do you really want to risk (and even pay upfront money for) being any part of fraud, knowingly or otherwise?

Are you comfortable with any of the above possibilities? Probably not. My advice is to not just walk away, but run away. Any upfront money you part with will surely be gone forever and you will still ultimately remain the owner of record for whatever it is that you are seeking to get rid of. Put the checkbook away and pursue other far more legitimate (also free or low cost) options such as inquiring about "deedback" directly to the resort and / or attempting a Bargain Deals give away here on TUG. I think RedWeek may have a similar "give away" venue. If you pay upfront money to any unknown entity of dubious legality and questionable intent, you do so at your peril.

Just my own personal thoughts and observations, to consider or reject as you may see fit; it's your money.

 

[Mel228]

"They promise"? You're kidding, right?

This is just another variant on the (far too many) useless "escape / relief / exit / rescue" operations out there preying upon timeshare owners desperate to part with something they don't want anymore, but cannot sell. Take a step back and think of it this way --- once you pay upfront money to any such parasitic operation, what motivation exists for them to do anything more than just say "Thanks"? After all, by then they would already have all the money they would ever get from you anyhow, firmly in hand (or in the bank).

Also, consider the possibility that the "Compliance" entity and the (alleged) "third party escrow company" could actually all be the very same people, just wearing different hats and / or using different addresses for different parts of their "operation", or perhaps they really are distinctly separate entities, but operating in cahoots with one another and, by agreement, sharing portions of the "take".

Last but not least, this could be an operation which (if they actually do anything at all) just dumps the ownership into a phony LLC, created solely to evade contractual and financial responsibilities. That is fraud (and potentially a criminal offense). Do you really want to risk (and even pay upfront money for) being any part of fraud, knowingly or otherwise?

Are you comfortable with any of the above possibilities? Probably not. My advice is to not just walk away, but run away. Any upfront money you part with will surely be gone forever and you will still ultimately remain the owner of record for whatever it is that you are seeking to get rid of. Put the checkbook away and pursue other far more legitimate (also free or low cost) options such as inquiring about "deedback" directly to the resort and / or attempting a Bargain Deals give away here on TUG. I think RedWeek may have a similar "give away" venue. If you pay upfront money to any unknown entity of dubious legality and questionable intent, you do so at your peril.

Just my own personal thoughts and observations, to consider or reject as you may see fit; it's your money.

Thank you taking the time to reply to me. I appreciate it very much.

 

[Twonorthernowners]

Thank you taking the time to reply to me. I appreciate it very much.

 

[Twonorthernowners]

Attempting to get out of timeshare which have increased our maintenance fees by 100 percent since May 2018. We have contacted three different exit companies all wanting upfront thousands of dollars, one promise of escrow. Anyone out there who has successfully exited using any company?

Thanks in advance!

 

[theo]

Attempting to get out of timeshare which have increased our maintenance fees by 100 percent since May 2018. We have contacted three different exit companies all wanting upfront thousands of dollars, one promise of escrow. Anyone out there who has successfully exited using any company?

Thanks in advance!

NO individual, group of individuals or company possesses any magic carpets or has access to any secret passageways by which to "exit" a lawful, valid and legally binding contract, freely and voluntarily executed. Period, amen. Believe otherwise at your peril.

 

[TheTimeTraveler]

Attempting to get out of timeshare which have increased our maintenance fees by 100 percent since May 2018. We have contacted three different exit companies all wanting upfront thousands of dollars, one promise of escrow. Anyone out there who has successfully exited using any company?

Thanks in advance!

Stay away from every one of them. Assuming your loan is paid off you can give it away on TUG.

Keep your hands in your pocket and protect your hard earned money! PAY NO UPFRONT FEES.




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[Kimbro]

7000.00 points to Paradise Point. Yearly. 3 bedroom 2 nights. These are floating flexible. We have always stayed at Big cedar on a Sunday thru Thursday or Friday about 3 times a year.
taking care of parents and grandkids this time in our life. .05 cents a point plus the 500. Fee bluegreen charge, plus the 350.0. For deed transfer.. thank you

 

[LannyPC]

Anyone out there who has successfully exited using any company?

There might have been some who have "successfully" exited but that depends on one's definition of successful. These exit companies claim success if you lose your timeshare due to foreclosure. Any other "success" they might accomplish is something you can do yourself for a lot less money.

As others have said in this thread and many other threads discussing these exit companies, hold on to your money and get rid of your TS yourself.

 

[oldsntnick]

I just closed on a house this week. I read the fine print for Chicago Title (which provides escrow services). Chicago Title is no small company, and they get huge because they don't take any risk. There were plenty of terms I had to agree to which essentially said the escrow company was not liable for anything other than the service they provide.

So... in other words... if a scammer recommends (or you recommend) an escrow company, your protections against being scammed are not guaranteed.