Real Estate

Resale Time Share Tricks

Story Published on October 1, 2008 ⋅  Email this Story ⋅  Print this Story ⋅ Post a comment ⋅

Many of us have heard the horror stories associated with resale timeshare scams over the years. We’ve heard of companies doing everything short of holding a gun to your head to make you buy. The general impressions of the industry are negative. So how can you avoid getting taken advantage of in this cutthroat business?

It’s a pretty good bet that you shouldn’t even get involved in the first place. Timeshare companies are notorious for saying just about anything to get you to come to their “presentation,” only to then keep you hostage until you eventually drool, your eyes glaze over, and you sign on the dotted line. (At least, that’s what they hope is going to happen.) You’ve seen the advertisements: “free tickets and complementary hotel accommodations for three days and two nights at a beautiful resort. For this, we just want you to take a small tour of our resort. Give us your feedback, and enjoy your stay!”

Now, if you think about it, that sounds too good to be true, doesn’t it? Yes, it does.

However, the person you’re talking to during that “luxurious stay” is there to take your money and then sell the rights to your actual tour to some other company. Don’t be surprised if your reservation and the things you were promised simply disappear, never to be seen again.

That “upgraded” room that you paid for on the ocean might not even exist by the time you get to your hotel.

What about that “90 minute tour”? Well, that’s usually really about six hours long, and it’s not a tour at all. Instead, it’s hard-core negotiating reminiscent of a hostage situation.

These folks will start out by telling you that you’re wasting your money, you’re foolish not to own a timeshare, and that you’re an idiot if you don’t buy in RIGHT NOW.

They’ll then throw out some astronomical number that you might not spend over 20 years of vacationing. Although we will undoubtedly vacation for 20 more years, the likelihood of this company still being in business after 20 years is slim.

If you are somehow brave enough to tell the first guy who accosts you “no,” they’ll persist, look at you like you lost your mind, and bring in someone called a “closer.” This “closer” then throws in another offer that’s usually less than 50% of the first offer to make it look as though you’re REALLY, really getting a steal.

If you still hold your ground and say “no,” someone else will corner you yet again to give you a “survey” that supposedly ascertains how you were treated. Of course, part of the “survey” is to offer you yet another price that’s about a third of the first one.

Of course, not all companies that participate in timeshares are “shady,” but most of them are. The smartest thing to do is not to take advantage of the so-called “tours” they offer, because most of them aren’t a good deal and are a lot of trouble. If you do happen to go on one, though, make sure you stand your ground. Don’t let us know you and if you don’t want to buy, don’t. If they pressure you into buying, they’ll have won and you’ll have lost. You’ll feel terrible if this happens, so save yourself the trouble and just don’t go in the first place.

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