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Timeshare Resale

Debbie

TUG Member
Joined
Jul 16, 2005
Messages
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Location
St. Albert Alberta Canada
A friend is being approached almost on a daily basis form Executive Resorts International from Las Vegas re selling her timeshare (she had advertised on sites in previous months). They tell her they have a buyer, however she has to pay them up front $2000. I have told her this is not advisable, likely just a scam. Does anyone know of the group or had dealings with them.
 
Up Front fees to sell timeshare

A friend is being approached almost on a daily basis form Executive Resorts International from Las Vegas re selling her timeshare (she had advertised on sites in previous months). They tell her they have a buyer, however she has to pay them up front $2000. I have told her this is not advisable, likely just a scam. Does anyone know of the group or had dealings with them.

Please advise as to your experience with Executive Resorts International in Las Vegas.
Thanks
 
Hi and welcome to TUG! :hi:

ANY company that charges a large upfront fee is trying to scam you. They make their money with the upfront fee and then they make no attempt to sell your timeshare.

There are a lot of scammers out there taking advantage of desperate timeshare owners these days. Most timeshares are selling for 0-10% of retail, but that's a bitter pill to swallow, so owners grasp at shady offers, hoping they are for real. Legitimate resellers charge a commission after the sale, but the scammers all ask for a large upfront payment.

Here are some warnings signs with these kinds of companies:

1) Do they say that they already have a renter/buyer for your timeshare? (or an established market like people attending conventions.)

2) Do they want you to pay hundreds/thousands of dollars for a title search and transfer fees, or taxes, or a closing fee, UPFRONT?

3) Are they offering to rent/sell it for far more than the market value?

4) Do they want you to pay a large up front fee that supposedly you will get back?

5) Do they want your credit card number before they send you a contract?​

If you answer yes to any of these questions, then this is the usual scenario:

Once you pay the fee and receive the contract, you discover that the company has only promised to advertise your resort, not to rent/sell it, and they don't mention having a renter/buyer in the contract.

Then, you won't hear anything from them for a long time, and when you contact them, they will tell you that the renter/buyer backed out, but they will advertise your timeshare on their over-priced website.

Finally, when you try to get your money back, they will point out that you signed a contract, and it's only for advertising.

When you try to challenge it with your credit card company, they will tell you that you only had 60 days to dispute the charge, and that it's too late to do anything.​

To see what your timeshare is really worth on the current resale market:


1) Register with eBay
2) Log into eBay
3) Search for the resort by exact name
4) Click on "completed listings" on the menu on the left

(Be sure you look at the completed listings - those are actually SELLING prices - you will find asking prices all over the place, but what really counts is what they actually sold for.)
 
BE a friend...

A friend is being approached almost on a daily basis form Executive Resorts International from Las Vegas re selling her timeshare (she had advertised on sites in previous months). They tell her they have a buyer...

Time for a reality check here. There IS NO "waiting buyer". :eek:

Tell your "friend" that any money paid to this (or any other) upfront fee entity touting fairy tales of anxious buyers, conventioneers, or corporations looking for timeshares will essentially be a non-deductible donation. Throwing (20) individual hundred dollar bills into a blazing campfire would / will yield exactly the same results.
'Nuff said...
 
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I hope your friend will listen to you about NOT paying someone to sell her timeshare...

Too bad there are people trying to take advantage of others-I don't like it...






:cheer: :cheer:
 
Las Vegas Timeshare Resale

Most people assume that Florida is bad when it comes down to housing the Timeshare resale thieves however Vegas is a whole other animal. These guys in Vegas have zero respect for ANY laws pertaining to deceptive and unfair trade practices. Quite frankly Nevada is such a lax state that after they obtain your financial information they will literally tell you to piss up a tree! Never give your money to reseller ESPECIALLY not in Vegas.

I spoke to their General Manager named "Frank Rizzo" after he was contacting my customers telling them that our company was interested in purchasing their timeshare unit. After my inquiry he told me to "%#@$ Off" and "not to call again unless I was the police". We did one better: We had the customer make a complaint with her local policing authority and then contacted a detective within LVPD who called this economic fraud and she would make this a "non civil matter".

Vegas is more than a gamble...
 
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