Timeshare Options LLC

[nmuser]

Has anyone had any experience dealing with Timeshare Options LLC out of Texas? They will take over your timeshare for $1249 which is paid to an escrow company until closing. The closing company is Timeshare Closings For Less Inc. out of Saint Mary, FL, which has an A rating with the BBB. We have two timeshares and want out of this one but it appears to be next to impossible to sell (same timeshare is listed by two companies for $1 on Ebay with no bidders). Any input would be appreciated.

 

[vacationtime1]

This is 99.999% a scam.

Your instincts are correct; do not trust anyone who wants upfront money.

Why should a seller put money into escrow?

 

[nmuser]

Thanks, Robert.

The reason we're putting money into escrow is because we will ultimately be PAYING to get rid of this timeshare. We realize this, but we want to make sure we will no longer own and have obligations to the timeshare once the process is complete.

I'm checking out donating also, but the one company I talked with wants $1900 to accept my donation (again, the money would be sent to an escrow company).

I'm still checking out other possibilities, but I want to know which ones to cross off my list.

 

[T_R_Oglodyte]

I'm sending a PM to you with contact information for a broker who does timeshare liquidations for $695, payable upon closing.

 

[nmuser]

I checked out the website, Steve, and it's great for someone who can sell their timeshare. Unfortunately, there doesn't seem to be a market for ours and we don't want to waste 90 days, when we only have until October before maintenance fees are due again. We talked to one company who wanted $4500 to take it, so we thought $1249 was a bit of a bargain.

We're still researching other ways to get out of it with a minimum amount of $, so we'd welcome suggestions from anyone who has any.

 

[LannyPC]

We're still researching other ways to get out of it with a minimum amount of $, so we'd welcome suggestions from anyone who has any.

Have you checked out the giveaway section on Tug?

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

That will likely work out cheaper than paying the charity to take your timeshare off your hands.

If you feel that you absolutely have to divest yourself of this timeshare ownership ASAP, then use the charity option only as a last resort.

However, if you do decide to go with the charity, do not bother wasting your time or money looking for a tax deduction. Pay the charity the money and move on.

 

[Stormron]

This is 99.999% a scam.

Your instincts are correct; do not trust anyone who wants upfront money.

Why should a seller put money into escrow?

I see replies like this from time to time on TUG and wonder about the credibility of the response. Has this Tugger actually gone to the site mentioned or had any contact with the company being discussed? Is he familiar with the "instincts" of the writer of the thread?

As to his last statement, the closing company mentioned has a BONDED and INSURED ESCROW ACCOUNT that protects both the buyer and seller in a real estate transaction.

I think we miss a lot of good information with the "head in the sand" type responses.