Not too long ago the Wall Street Journal posted a short story about discussions going on at the annual ARDA meeting. ARDA (American Resort Developers Association) hosted a discussion about the “threat” of timeshare postcard companies.
The short answer to the question “What is a timeshare postcard company?” is this: a company either cold calls you or mails you a postcard asking you to come to a meeting or an online webinar about your timeshare. At this meeting they convince you to pay them a fee to get the timeshare title transferred out of your name. The fee they ask for is usually between $1,800 and $3,500. In return they guarantee to get the timeshare deed out of your name and make your maintenance fees go away.
The down side for the consumer is that sometimes the company is a scam. They have no intention of transferring your timeshare and vanish with your money after a few months. Most of these companies come and go like mushrooms after a thunderstorm.
However, there are a few who legitimately dispose of timeshares for the owners. This saves the owner a huge amount of time and eventually money. The downside is that you as the owner lose any and all “equity” you have in the timeshare. Industry wide, this has cost millions of dollars to timeshare owners.
What is ARDA’s solution? They proposed several, none of which sound good to anyone. They discussed increasing transfer fees, making the estoppel procedure more complicated, and even adopting the up front fee model used by many timeshare resales companies. They also discussed finding ways for a timeshare owner to give the timeshare back to the resort or having the property owners’ association take it over.
What is the solution? ARDA only makes recommendations. If the timeshare developers put more obstacles in the way of an owners right to sell their timeshare they will be in for a big fight with the owners.
Let the legitimate timeshare resales companies help. They have been around quite a long time and know how to get the job done. If the timeshare resale company can show evidence of completed timeshare closings what would their objection be?
Here’s what www.RPMLS.com can do for you: Market and advertise your timeshare, provide a reliable broker to network with, get the deal closed, and get you paid. Isn’t that what you want to do in the first place? Sell your timeshare and be confident that a professional is working on your behalf.