timeshare independence/ TS Bargains [MERGED]

[Fredm]

I hope this leads to federal and state charges against all the officers of this company!!.

Yes, the funds paid for closing costs may be lost but the funds used to pay the sales where in an escrow!!!! There is no way a bankrupcy should have effected these funds.

The real problem here is that "escrow" and the seller are one and the same.

 

[Bill4728]

Originally Posted by Bill4728
I hope this leads to federal and state charges against all the officers of this company!!.

Yes, the funds paid for closing costs may be lost but the funds used to pay the sales where in an escrow!!!! There is no way a bankruptcy should have effected these funds.

The real problem here is that "escrow" and the seller are one and the same.The real problem here is that "escrow" and the seller are one and the same.

Although true that escrow and the seller are the same. Legally, funds in escrow must be kept in escrow and shouldn't be effected by the bankruptcy at all.

 

[newlin99]

I too have money in this company.

The "closing company" TS Title says that I pay them the closing and recording fee, they will get me the deed before the company files bankruptcy.

They want $261.00. If I don't pay, then they say the property will be tied up in bankruptcy.

BTW, the escrow money got spent. There is no money in escrow. :annoyed:

 

[Bill4728]

I too have money in this company.

The "closing company" TS Title says that I pay them the closing and recording fee, they will get me the deed before the company files bankruptcy.

They want $261.00. If I don't pay, then they say the property will be tied up in bankruptcy.

If the amount of money is <$1000, I'd likely just write it off instead of risking another $260 on the word of a closing company which may or may not be one in the same as Timeshare Independence. But if you have a lot more money tied up with these guys it may be worth the risks.

BTW, the escrow money got spent. There is no money in escrow. :annoyed:

It is highly illegal to spend the escrow money!!

 

[Black Diamond]

I may be waiting a long-long time for my TS to close !!

I bought a week in December 2008, was waiting for closing to occur- Now What Shall I do??

I paid for 2009 maintenance since it was year end,, so I am down over $500 for this purchase!!!

 

[dryden]

have you tried...

assuming timeshare title was handling the closing, did you get an email from the agent within 10 days of the purchase? if so, have you checked your status on timesharetitle.com? or better yet, call them at 866-347-1061? they seem very cooperative. i still haven't heard from the attorneys handling the bankruptcy, despite filling in the info. twice on http://timeshareindependence.com website.

on an upside- i did have to have a deed deeded back to timeshare independence for an advertising error. i received the new deed last week via mail with timeshare independence as the owner. this process started 10 days before i bought another from them in late december, 2008. i was told by timeshare title that all should be completed by first week in march. i haven't heard anything yet, but the website indicates things are moving along. guess this post gets me motivated to email timeshare title and kent@ivey4law.com. hopefully it is just a slow closing for both of us. fingers crossed.

 

[Carolinian]

jdb0822:
If the PCC or other entity performed as they stated, effected a transfer of ownership, then it would be a valid way of ridding oneself of the burden of the MFs. You only complaint is that some of these companies don't do the job they promise and get paid for. A lot of people hire landscapers to cut their grass or remove their snow. Are they also lazy?

Many HOA's will take a deedback directly. The epiel of the PCC's borders on fraud. They should be put out of business.

 

[newlin99]

bump:

Credit card company said I was purchasing the deed when I paid for this transaction.

Since no deed has been received, they are doing a chargeback if the company does not provide me with what I paid for (deed).

CC company "should" refund charges, then seek damages against this company.

We'll see what happens...

 

[dryden]

received deed today...

on the second unit (massanutten) i purchased from timeshare independence- closing through timeshare title. hope others are closing are well...

 

[HenryT]

Finally got my Timeshare/1

I purchased a silver Marriott Grande Ocean unit from Timeshare Independence back in November 2008. I received the letter that the company was filing for bankruptcy and that I would need to pay an additional closing fee of $450 to complete the sale. I had paid the purchase price and closing costs to Timeshare Independence's closing company. Later on their transferred the closing to Timeshare Title, Inc and I paid the 2009 maintenance fee to Timeshare Title. The letter I received was from Timeshare Title, Inc.

I was reluctant to pay the additional $450 and delayed making that decision for a few weeks. I then received a call from Timeshare Title stating that Timeshare Independence was getting ready to file for bankruptcy and that if I did not complete the sale within the next 2 weeks the unit I purchased would be held up in the bankruptcy. I reluctantly paid the additional $450 5 weeks ago and I received a letter from them a week later that the paperwork had been forwarded to Marriott. I called Marriott and they stated that they did have the paperwork but that it would take at least a month for them to process it.

In the meantime I received a refund check from Timeshare Title for $250. as a refund from settlement. A week later I received another refund from them for $50. So, in the end I only paid an additional $100 for the week.

I called Marriott back today and found out that the unit was now in my name as of May 26th. They only had two weeks left to reserve for 2009 (the week after Thanksgiving and the week of Christmas). I took the xmas week which I deposited in II since I have already scheduled all my vacations for this year.

This has been a long process but it's finally over. Unfortunately when the seller requires you to use their settlement company you are at risk and I guess you have to decide if you want to take that risk when dealing with some of these PCC compancies on ebay. I hope everyone else has been successful and geting the weeks they purchased from Timeshare Independence.

 

[dryden]

not so fast...

i did receive the deed and thought i was done. then called massanutten to confirm my week for this year- they said i needed to pay this years MF to do so. i already paid it in the closing. after some pleasant (not being sarcastic) phone conversations with timeshare title, they confirmed that was part of the deal and i had paid it (thankfully i saved every email and paypal bill from TSI & copy and pasted the ebay listing into micro. word & saved that), but timeshare independence didn't pay massanutten. timshare title said they'd pay for half of the stolen MF. maybe i'm naive, but i paid it just to be done and have a vacation spot for a week this august. all is confirmed and i'm good to go. i thought the people at timeshare title were very easy to work with considering the crappy situation timeshare independence left them/put them in.

henry t, glad to hear you're good. black diamond, any luck with yours?