Reality check: It is really hard to resell a timeshare property. Lucky are those who were able to sell their timeshare properties. Even though they were not able to get profit, still they get away from the annual maintenance, taxes, and other fees required of them.
If you are one of the unfortunate ones whose resell timeshares have still not been sold, then you might want to consider the following things:
1. Donate your Timeshare
Even if you already spent a lot of money for your timeshare property, reselling it won’t also gain you profit. However, this can be a solution if you don’t want to spend more and more money paying for the annual fees. If you really want to get rid of your timeshare, then this may be the solution to it.
2. Rent your Timeshare
While you are still looking for more solutions of getting rid of your timeshare, you can rent it for the mean time. There are a lot of reputable companies who offer rental of timeshares. By this way, you will be able to save up money and search for more options and solutions.
3. Go for the Exit Solution
By this solution, your timeshare can be transferred and all the maintenance, taxes, and other fees required on your ownership of the property will be gone. There are many companies who offer you this kind of service. The service is also very cheap. If you are left with no choice, then, this is the least you can do.
Thursday, April 29, 2010
Wednesday, April 28, 2010
Asking Questions Concerning a Timeshare Sale
Multi-ownership, space share, vacation ownership or vacation ownership are synonymous names for a timeshare.
When buying any real estate, asking important questions is relevant by knowing understanding the whole process involved in the purchase and getting as much information as possible.
First, you should know what type of timeshare agreement you're getting yourself into. One of these agreements is called "fixed weeks" where one can use and enjoy the property during a specific amount of time during the year. This is also the most often deeded ownerships. Another one is called "condo hotels" where rental profits are offered as well as the enjoyment days for the buyer of the timeshare. "Fractional ownership" refers to the type of agreement which lasts between five to 26 weeks.
Next, you should also know what you are paying for when you are buying a timeshare because this is your place for a vacation that you can use for a specific amount of time per year and days or weeks to use. This includes the maintenance on the property and the one-time purchasing fees, and some would include other vacation bonuses such as food, airfair and car rentals.
Now, determine how much your timeshare is worth since resale values on timeshares are not high. Researching the type of protection the buyer has where the timeshare is purchased and getting from the seller a plan that describes the specifics of the timeshare plan is very important. Before making the final purchase, research also on the company you are purchasing from. Also, keep in mind that timeshares are not to be purchased with the idea that it will make a high profit.
After that, you should know other costs that you are responsible for. As a timeshare owner, you are obligated to pay for the fees for maintenance and upkeep on the timeshare aside from the cost of the timeshare building.
Lastly, know what the due diligence period is. You are always free to terminate the contract if you feel that you no longer want to purchase.
When buying any real estate, asking important questions is relevant by knowing understanding the whole process involved in the purchase and getting as much information as possible.
First, you should know what type of timeshare agreement you're getting yourself into. One of these agreements is called "fixed weeks" where one can use and enjoy the property during a specific amount of time during the year. This is also the most often deeded ownerships. Another one is called "condo hotels" where rental profits are offered as well as the enjoyment days for the buyer of the timeshare. "Fractional ownership" refers to the type of agreement which lasts between five to 26 weeks.
Next, you should also know what you are paying for when you are buying a timeshare because this is your place for a vacation that you can use for a specific amount of time per year and days or weeks to use. This includes the maintenance on the property and the one-time purchasing fees, and some would include other vacation bonuses such as food, airfair and car rentals.
Now, determine how much your timeshare is worth since resale values on timeshares are not high. Researching the type of protection the buyer has where the timeshare is purchased and getting from the seller a plan that describes the specifics of the timeshare plan is very important. Before making the final purchase, research also on the company you are purchasing from. Also, keep in mind that timeshares are not to be purchased with the idea that it will make a high profit.
After that, you should know other costs that you are responsible for. As a timeshare owner, you are obligated to pay for the fees for maintenance and upkeep on the timeshare aside from the cost of the timeshare building.
Lastly, know what the due diligence period is. You are always free to terminate the contract if you feel that you no longer want to purchase.
Tuesday, April 27, 2010
St. Frances Timeshare Fraud
Barclays and GE Money were sued by a group of 300 people due to an alleged fraudulent timeshare investment scheme that costs £6 million of loans that they refused to cancel.
The money the group members borrowed were between £10,000 and £20,000 each to invest on timeshare points that they were promised they could exchange to luxury holidays on all the different places around the world. The timeshare investor responsible for this fraudulent scheme, which has since gone bust, that left about 2,500 people with promises and sizeable debts, is the St. Frances Marketing formally known as Easysave Finance Ltd.
St. Frances Marketing had made the sophisticated scheme that allowed customers to obtain loans from Barclay and GE Money during the sign-up process. St. Frances has been now placed in liquidation by the Trading Standards and other five former staff because of trading standards offenses and the two banks insisted on timeshare investors to pay their debts in full. The lawsuit that is filed in the High Court in London suggests that banks should cancel the loans made by the group members because it was taken out in concurrence with a fraudulent scheme. The group claims that the two banks acted as agents for St. Frances and should reimburse them as well as cancel the loans.
On a statement made by Barclays, they said that they are aware of the proceedings and will prove false of the claims of the group. GE Money also said that they will defend its position on the said lawsuit. The group demanded that the two banks should not give them negative credit ratings to other banks.
According to the scheme that St. Frances is offering, clients have the chance to travel to all the luxury resorts in the world by buying timeshare points. These include the places like Australia, Dominican Republic and other Mediterranean hotspots. The company guaranteed their buyers that they will buy back unused points and that the scheme is risk-free.
In a case study that was conducted, Sarah Barnes discovered St. Frances Marketing when she received a phone call from the company stating that she had won a holiday package. They were then introduced to a timeshare scheme that gave them luxury holidays and bought 60 timeshare points that costs £10,495. They signed a credit agreement with GE Money but as time passed by they had realized that they were duped. The interest was never paid and it amounted to about £14,000.
The money the group members borrowed were between £10,000 and £20,000 each to invest on timeshare points that they were promised they could exchange to luxury holidays on all the different places around the world. The timeshare investor responsible for this fraudulent scheme, which has since gone bust, that left about 2,500 people with promises and sizeable debts, is the St. Frances Marketing formally known as Easysave Finance Ltd.
St. Frances Marketing had made the sophisticated scheme that allowed customers to obtain loans from Barclay and GE Money during the sign-up process. St. Frances has been now placed in liquidation by the Trading Standards and other five former staff because of trading standards offenses and the two banks insisted on timeshare investors to pay their debts in full. The lawsuit that is filed in the High Court in London suggests that banks should cancel the loans made by the group members because it was taken out in concurrence with a fraudulent scheme. The group claims that the two banks acted as agents for St. Frances and should reimburse them as well as cancel the loans.
On a statement made by Barclays, they said that they are aware of the proceedings and will prove false of the claims of the group. GE Money also said that they will defend its position on the said lawsuit. The group demanded that the two banks should not give them negative credit ratings to other banks.
According to the scheme that St. Frances is offering, clients have the chance to travel to all the luxury resorts in the world by buying timeshare points. These include the places like Australia, Dominican Republic and other Mediterranean hotspots. The company guaranteed their buyers that they will buy back unused points and that the scheme is risk-free.
In a case study that was conducted, Sarah Barnes discovered St. Frances Marketing when she received a phone call from the company stating that she had won a holiday package. They were then introduced to a timeshare scheme that gave them luxury holidays and bought 60 timeshare points that costs £10,495. They signed a credit agreement with GE Money but as time passed by they had realized that they were duped. The interest was never paid and it amounted to about £14,000.
Sunday, April 18, 2010
Timesharing : A New and Easy Way to Enjoy Your Holiday
Nowadays, timesharing is making it big in the vacation/holiday industry, especially in the United States. It is now very competitive and is earning millions and millions of dollars. Since timesharing has become popular, more and more people are taking part of the growing industry. It even attracted celebrities like Matthew Broderick and Patton Oswalt, who recently rented a timeshare for the comedy sitcom Beach Lane.
Timesharing is a method of sharing and giving rights and ownership to use a property. The concept is usually used for holidays and vacations for resorts, condominiums, villas, and even homes where the sharers own for a specified period of time (usually for a week).
It is summer once again and a lot of people are looking for places where they can stay during their vacation. Timeshare can offer more comfort, plus it is also more affordable compared to living in hotels. It is almost worry-free and convenient to people planning for a vacation.
However, there are a lot of people who are taking advantage of this growing industry by deceiving a lot of sharers, especially the first-timers. It is a sad reality that not all interested people are informed about the mean reality and issues of timesharing.
If you are planning to do timesharing in the future, you must be a well-informed sharer by researching more on timeshare deals. You should be on the lookout for illegal organizations. You must not be hesitant in inquiring about the details of what the dealers are selling. In fact, it is highly encouraged that you ask all possible questions regarding the timeshare (added charges, housekeeping fees and maintenance) so that there is nothing that you will regret in the end.
There is a way to know whether a dealer is a legit or a fake. It is by observing how knowledgeable a dealer is on what he or she is selling. If the dealer does not know much about the thing he or she is selling, then he/she is most probably a fake.
If you’re ready to join the timesharing industry, you can visit any timeshare-related sites and choose dealers and organizations that suit your needs. Also, you can check out Better Business Bureau (BBB) to get to know more about the dealer you chose.
Timesharing is a method of sharing and giving rights and ownership to use a property. The concept is usually used for holidays and vacations for resorts, condominiums, villas, and even homes where the sharers own for a specified period of time (usually for a week).
It is summer once again and a lot of people are looking for places where they can stay during their vacation. Timeshare can offer more comfort, plus it is also more affordable compared to living in hotels. It is almost worry-free and convenient to people planning for a vacation.
However, there are a lot of people who are taking advantage of this growing industry by deceiving a lot of sharers, especially the first-timers. It is a sad reality that not all interested people are informed about the mean reality and issues of timesharing.
If you are planning to do timesharing in the future, you must be a well-informed sharer by researching more on timeshare deals. You should be on the lookout for illegal organizations. You must not be hesitant in inquiring about the details of what the dealers are selling. In fact, it is highly encouraged that you ask all possible questions regarding the timeshare (added charges, housekeeping fees and maintenance) so that there is nothing that you will regret in the end.
There is a way to know whether a dealer is a legit or a fake. It is by observing how knowledgeable a dealer is on what he or she is selling. If the dealer does not know much about the thing he or she is selling, then he/she is most probably a fake.
If you’re ready to join the timesharing industry, you can visit any timeshare-related sites and choose dealers and organizations that suit your needs. Also, you can check out Better Business Bureau (BBB) to get to know more about the dealer you chose.
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