Timeshare Scams- Front Page Story Tampa Bay Times

[timeos2]

Attended a presentation where owners could sell their points for cash. That cash could be applied to buying a timeshare in TX and an RCI credit card. Apparently, there is a market for unbooked points which can be grouped and used to give discounted rates to corporations, etc who need accommodations. Anyone heard of this? Any experience with it? A scam?
BTW, we didn't buy. It sounded too good to be true, and that's always a red flag. Besides, we barely use the timeshares we currently have.

One of many "almost sounds like it can be real" deals that always turn out to be yet another way to get you to pay up front money and then little or nothing happens to rent, sell or use your ownership. You were wise to say NO.

 

[Tfish]

Too good to be true....methinks

 

[TUGBrian]

I am sorry but I dont consider tacking a piece of paper on an actual bulletin board in a hallway at a resort a "resale office".

and I would like to know where you come up with 70%...I simply dont believe that.

now I would believe that 70% of resorts if you call them, will REFER you to someone (ie TUG, an upfront fee company, a broker, etc)...but again...I dont feel thats counted in terms of a "resort handling resales" for their owners.

glad this was brought up earlier, just finished reading an article in ARDA's development magazine where they did a study on HOA controlled resorts (vs developer controlled)

only 60% of resorts in question had an active rental program (it did not describe the nature of the program, just that the resort responded it had one in place)

and only 44% of resorts had a program to offer resale assistance to owners. (same as above, the nature of hte program was not detailed, just that it existed)