Timeshares Are Out

According to industry statistical data, it's reckoned that 3,000,000 North Americans sit through a timeshare sales presentation each year. It is also calculated that 250K actually buy their own timeshare each calendar year. But is a timeshare truly a fair deal for the average holidaying family? . 

In any discourse of timeshares, many people could be reminded of the South Park episode where the boys ' elders went to a timeshare weekend. The thoughts of others may wonder to the episode of Family Guy, where the neighborhood attended a timeshare sales show and Peter took the empty box instead of the valuable awards offered to him. 

Let's face it, the timeshare industry has been the subject of many jokes over the years, and has had more than its equal share of bad PR over time. However are the feedback fair? 

Industry Criticisms 

When this industry was younger, the feedback were more than fair. In the early days of this industry, underhand firms would sell timeshares on resorts that had yet to be built. After a successful sales season ( yes, this industry is seasonal, closing most sales from June to Aug ), the sales company would abscond with the money and purchasers would be out their investment. 

Recently, the resort industry has been made to clean up its sales practices by both govt and clients. But even today, some timeshare selling firms are still getting into hot water. 

In October of 2008, Pennsylvania's Attorney General filed a suit against a Florida timeshare promoting company for fraudulent advertising practices. It has to be stressed that this suit wasn't against the industry, nor its sales offering, but instead against individual selling firms for fraudulent sales practices. 

But Are Timeshares A Quality investment For Most Holiday makers? 

Honestly, the solution to that question is that it relies on the goals of the purchaser and the categorical details of the individual timeshare transaction. 

"Purchasing timeshare can be the neatest thing a vacationer has ever done, but it can also be a massive mistake," said Lisa Ann Schreier, owner of ( timeshareinsights.com ). As a former timeshare salesman, she has great understanding of this industry. Schreier continued, "With the medium cost of a timeshare in America being roughly $13,000, it's critical that folk understand exactly what timeshare is and whether or not it's right for them before they make a purchase decision." 

On the one hand, a timeshare is alluring in you can get access to a half-a-million buck apartment ( $13,000 x 52 weeks ), for a standard buying price of $13,000. But the bargain price is not a deal purchase for each consumer. 

What it reduces down to is this : if you can take the same week for vacation each year, and you need to go to the same destination year-after-year then a timeshare might be a great vacation investment package for you. 

But, if you can't be assured that you will have the same week each year, or if you are keen on the destination, but would not want to be tied to a particular vacation spot, then you shouldn't purchase a timeshare. 

Of course, there are resorts that offer diversifications on the straight same week, same location offer ( some resorts have multiple locations ), but you'll need to make sure that your timeshare plan makes that kind of offer, and get it in writing before signing the check.

Transfer Smart can help you get rid of timeshares you no longer want. They have been helping people for years and they are just waiting to hear from you! 

The Pros and Cons

Timeshares have become a great debate in this era. But to actually understand timeshares you have to know the benefits and disadvantages of it. In this post, we are going to go over all of the benefits and drawbacks related to timeshares so you can make the right call for you and also your family. If you decided to get a timeshare in the past and wish to get shot of it, contact Transfer Smart right now. They have helped thousands of timeshare owners and they will help you as well. 

PROS : 

One. Saves money 
The purchase of a timeshare guarantees that you've got a place to holiday at each single year. Over the span of your lifetime you may just be able to save money because you won't be coughing up for hotel rooms every time you vacation. 

2. Different Vacation Locations 
Some timeshares are purchased at a specific location and the buyer is only ready to visit that location each year. Nevertheless there are more timeshares that permit you to select which destination you would like to visit nationally or internationally. In cases like these you and your family get to travel to different places annually instead of the same one. 

3. More Vacation Space 
Unit sizes are generally fairly big. Most timeshares have a kitchen, living room and a couple of bedrooms. This implies that you can bring along more family members. Usually these units also include a washer and dryer so that you can save cash on dry cleaning. 

4. Less expensive than a vacation home 
Vacations are sometimes quite dear. In addition to the price you alone are answerable for the upkeep of the property while not in use. If you and your family only take holidays a few times a year, timeshares make rather more sense than buying a 2nd home. 

Five. Potential Second Income 
Many times if an individual can't use their timeshare they attempt to hire it out to others. This way your charges are covered for the year. 

CONS : 

One. No Increase in Value 
Unlike real estate, timeshares do not appreciate in value. It is quite the reverse actually. Timeshare sometimes depreciate in worth like automobiles. So the $20,000 or so you spend on your timeshare will continue to depreciate in value till you sell it. 

Two. Almost Impossible to Resell 
With the quantity of timeshares on the market today, it is almost impossible to resell your timeshare. At this time, there are way more sellers then there are buyers. Many timeshare owners are so frantic to sell their timeshare that they try and sell it on EBay for $1 or even worse, giving it away freely. 

3. Annual fees / Maintenance charges 
On top of our 1st purchase price you are responsible in paying yearly maintenance costs. Resorts are able to bill timeshare owners for any kind of maintenance or remodeling ( i.e. Utilities, real-estate taxes, appliance repairs, housekeeping, and so on). 

Four. Options are Limited 
When trying to book your holiday week the earlier you do it the better. Availability is first come first serve and it's quite tough to book the week you want. You will be competing with other families on who gets the timeshare during prime time. 

Five. Money Issues 
When you buy a timeshare it makes sure that you have a holiday spot every year which means you are paying upfront for all of the vacations you'll be taking. Nevertheless what if you cannot holiday one year and nobody will hire out your timeshare? You fundamentally lose money. So on top of all the yearly fees resorts are making you pay, you're also making regular payments to repay your timeshare ( unless you get the timeshare upfront ).

Timeshare Resale Accountability Act Effective July 1st

The governor of Florida recently signed the new state timeshare law. The Timeshare Resale Accountability Act is a start in controlling and controlling timeshare resale fraud. This new law requires all enterprises to provide the contact info of the buyer who is interested in buying the timeshare from a seller. This prevents businesses from claiming they have a customer when in reality they don't. Though this new law does not prevent and cover all scams it's a good start in protecting timeshare owners. 

Effective July 1st the Timeshare Resale Accountability Act insures that all enterprises will face a penalty if they exaggerate having a consumer waiting to get a timeshare from a seller, if they collect payments from the sellers before a written agreement is signed by the vendor, and if they do not honor the seller's right to cancel within seven days of signing the contract or fail to supply a refund inside 20 days of the cancellation date. 

Though this new law is amazing, it only protects timeshare owners from some cons and only in Florida. Many consumer advocates, like Transfer Smart, hopes to inform timeshare owners of the likely scams out there. The key condition of this law is to make certain that all businesses who tricks a seller into stumping up for a non-existent service. 

But another scam this law doesn't protect timeshare sellers from is agencies who charge an upfront charge to help sell a timeshare. In many instances, these firms guarantee to help sell a timeshare, but end up vanishing after they receive compensation from the vendor. Trying to get a repayment is also very unlikely because in most situations the phones are disconnected and emails remain unanswered. Additionally, this act fails to address unsanctioned resellers and doesn't control high-pressure sales pitches. These high pressure sale methodologies sometimes offers free or discounted vacations or other motivations as long as you go to a timeshare show. 

As of today, the Timeshare Resale Accountability Act applies only to Florida usually because over 1/2 of all timeshare properties are located there. Additionally, Florida initiatives are infrequently in a position to help discourage timeshare scams across the U.S. The following steps in the search of obliterating all timeshare resale crime are to push for the closure of loopholes in Florida's legislation and for similar legislation to be passed in states like Hawaii and California. 

If you wish to really get rid of your timeshare forever without being conned, contact Transfer Smart today. Transfer Smart has already helped many timeshare owners' escape from their timeshares and they continue to do so today.

The Better Business Bureau Warns Timeshare Owners

Transfer Smart reports on an article that warns timeshare owners not to be duped when selling their timeshares. The Better Business Bureau is advising families not to totally trust a company until you have done your research and determined their legitimacy. Many fraudulent firms have realized how desperate struggling families are in trying to lose their timeshares and use that to their advantage. 

The president and Chief Executive of the BBB, Steve Bernas, commented, "While timeshare owners are looking to lessen a financial burden, many holiday makers are not buying. Unfortunately, some sneaky timeshare resellers are taking advantage by deceiving actual owners in hopes of selling their timeshare quickly." 

Understanding the necessity for steering, the BBB offers the general public some pointers on the best way to notice companies who can't be trusted. First, always check to see if the business is a BBB Accredited Business or at least has a good rating and tiny purchaser beefs. Second, ensure the company is approved and always confirm the location of the company. Thirdly, understand all of the expenses associated with the service and always be suspicious of firms who charge an front-loaded charge for those are the companies that usually vanish after they receive their cash. Lastly, never fall for an offer that sounds too fantastic to be accurate. Spend a little bit of time to assume the offer over and fully understand the terms. 

With these tips, the BBB hopes that timeshare owners are better equipped to know how corporations are able to convince someone into buying a non-existent service.

Hotel Upgrade

Transfer Smart reports on hotel upgrades. Many hotels have started to upgrade their technology within each room. These high-tech gadgets, such as the Moodpads, let travelers control the entire room with one tablet. The Moodpads allow users to change the room settings, book an appointment or even schedule a spa reservation with the push of a button. This lets travelers feel more relaxed and high class.

Here are some examples of hotels that have gone through innovations:

Citizen M, Amsterdam: In this hotel, each room is equipped with a Moodpad, which allows users to control music, change the lights and control room temperature.

Eccleston Square, London: Each room in this hotel comes with a 3-D TV and an iPad to book spa treatments and order room service.

Peninsula, Tokyo: This stylish Japanese hotel provides its guest with internet radio, automated espresso machines and digital panels that show the weather.

Aria Resort & Casino City Center, Las Vegas: This high-class establishment has placed in each room touchscreens that allow guests to control lighting, temperature, shades and TV as well as an electronic do-no-disturb sign.

Montage Deer Valley, Park City, Utah: At this upgraded ski resort, each room has TVs with Control 4 technology which allows guests to control the fireplace, temperature, lighting, privacy settings and energy-efficiency. 

Death is Not the End of a Timeshare

Timeshares have become a huge liability in the lives of many. What a lot of people don’t understand is that a timeshare contract is a perpetual agreement which means that it’s an agreement that lasts forever. This means that even after the timeshare owner passes away, it’ll get passed down to their heirs because timeshares are a type of real-estate.

One unfortunate woman, Mary Gronlund, started receiving bills and collection letters from the resort that her dead son’s timeshare was. When she contacted the resort, KIRO 7, they informed her that death doesn’t mean the end of a timeshare. Gronlund followed the instructions given to her by WorldMark to end her son’s timeshare bills and membership but that was easier said than done. Gronlund’s son David had died unexpectedly at the age of 53, as instructed by WorldMark she sent her son’s death certificate in order to end his membership.

However, a couple of months after David’s death, Gronlund started receiving letters of past due payments. Within weeks there were even more letters and phone calls asking for payments on past due charges. What Gronlund realized was that once you purchase a timeshare you can never quit.

Doug Wheeler, a Seattle lawyer, commented “If you bought a perpetual timeshare, it’s like owning a piece of real estate. It is, in fact, a piece of real estate. It will pass down through your family until someone sells it or it’s repossessed or whatever. That is something I think a lot of people don’t appreciate when they buy it.”

A WorldMark spokesperson confirmed to KIRO 7 that “if a member dies, the membership goes to a spouse. If the owner is single, it transfers to heirs. If there's no surviving spouse or heirs, the executor will receive notice of the balance due. But if the balance is not paid, ‘the contract will be canceled when a death certificate is received’."

However, this was not the case with David Gronlund. The company did not stop sending bills and letters until they were contacted by KIRO 7. In response to the issue they stated that it was a ‘system error’ and offered an apology to Mary for the trouble as well as a free three night stay.

To those who are looking for a way out of their timeshare, contact Transfer Smart today.

Faulty Timeshare Resale Company Steals Identities in Minnesota

These aren't the only wolves in Minnesota.

A legitimate party planning company in Minnesota has had its good name and website taken over by timeshare resale con artists recently. Events Etc was a completely legitimated company started in 1992 and dissolved in 2011. Months after they went out of business, their name was bought by a group out of Europe who then used their (at the time) good standing with the BBB to get timeshare owners in Mexico to try to resale their timeshares through them. In classic scam fashion, there were no buyers for the timeshares and the money taken in was kept by this group.

The Better Business Bureau was alerted to this company’s shameful procedures soon after they bought the Events Etc name. As always, whenever you want to sell your timeshare, get something in writing like Transfer Smart provides. Never pay anything unless you can get something in writing. Checking the BBB page of a company is always a good idea. This case was an aberration, one where a legitimate company’s name and address were bought and then used for a fraudulent purpose, putting it in a rare category. Usually timeshare companies have no listing on the BBB.