Topic: timeshares

So, Let’s consider: Some reasons to avoid Timeshares – 2021 Update – The Revenge of all the FEE$… 0

Posted by on in About As Dumb As It Gets, Holidays, timeshare, timeshares, Vacation and Get Aways





So, Let’s consider: Some reasons to avoid Timeshares – 2021 Update – The Revenge of all the FEE$…

I first wrote this a long time ago, and it’s been a while since I’ve done more with my time share than pay the annual Maintenance FEE… So, when I decided to use it for a week’s vacation this year, I totaled up all the FEE$ I had to pay and I got some major FEE Sticker shock.

First there’s the “annual maintenance FEE” which for me is now just shy of $1000. They never said it would get anywhere near this high when I was buying. Then there’s the Membership FEE that you have to pay to be part of an organization like “Interval” that allows you to “exchange” and actually use your time share. Uh, that FEE is just shy of $200 per year. Then when I went to “exchange” my timeshare, I got socked with yet another “exchange FEE” of just shy of $200. So far, my housing costs for this week away is just shy of $1400. And, I’m expecting a “resort FEE” to be assessed when I finally get to the place…it’s happened too many times in the past.

Now, I don’t know about you, but $1400 buys a helluva lot of really nice hotel time, where ever I want it, generally with breakfast (and at no additional FEE)…. SO, when you’re listening to some grease ball telling you how great his timeshare office is, you may want to think again…

And, I’m again reminded of what I originally wrote, long ago…

OK so we’ve all heard of them. Frankly you can’t go on a decent vacation to any resort and not have some high pressure attempt to sell you one. Usually for free tickets to some tourist trap or another, and OH, if your spouse is with you they MUST attend with you…it’s all part of the high reassure sales scheme to snooker you into buying one….yupo, I’m talking about…a timeshare.

The schemes have changed over the years. You used to have deeded property, now you buy “points” or whatever, depending on what the scheme, uh, plan, actually is that’s being pitched.
You’ll be told perhaps as many have been in the past that they’re “GREAT investments…”, “you can pass them along to your family…”, “they’re going to increase in value…” and any of many other lines designed to make you fork over a lot of dough for some expensive stuff.

For starters, it’s not an investment. You should never even think of it as an investment – regardless of what the sales people tell you. The resale market for timeshares is incredibly illiquid and it’s doubtful you’d find a buyer, much less one that’s willing to pay you what you paid for it, and forget making any profit. There are however any number of organizations willing to take your timeshare off your hands…for a hefty fee… Also forget the idea of being able to “trade up” at some later date…the only way you’re going to be able to trade “up” is if you pay a hefty fee for the honor.

Are you SURE you want to go to the same venu each and every year? Really? What about logistic issues getting to and from your venu? Keep in mind, you’re totally locked in to a set time when you have access to your property. Depending on your contract you may be able to rent or trade your unit, but that’s something to read in the fine print. For some you have to play the points game, and that presumes that you even have it all figured out!

What if your schedule changes or some event happens that you can’t take your vacation that week? You’re screwed. Some let you “bank” your weeks and trade them, some don’t and some totally depend on the points system…again, caveat emptor and read the fine print.

Finally there’s those ever rising “maintenance fees” that they really either don’t talk much about when you’re buying or they downplay the hell out of. Trust me, they WILL INCREASE. They WILL get expensive. You will NOT be able to do anything about it. You’re contractually locked in to having to pay whatever they tell you that your assessment is. And, frankly when you do the math on how many units your place has, at 52 weeks a year times what you’re paying for your week’s maintenance fees…you’re going to quickly realize that someone’s really making a lot of dough, and it’s NOT you.

If you want to get a free set of tickets to some expensive vacation park, ok, go for the sales pitch, but, don’t fall for the pitch, regardless of how much they browbeat you, bitch, moan, pressure you, etc. Make sure you think LOGICALLY and do the financial math before you even think of this stuff. And don’t fall for that “this is a special price for right now only” line of crap. If they REALLY WANT your sale, they’ll sell to you at that price today or next week. They’re all commission sales based…and there’s always more than one person selling these things…

I’m Don Rima and that’s the view From Where I Stand.



So, Let’s consider: Some reasons to avoid Timeshares 0

Posted by on in timeshare, timeshares, Travel, Vacation and Get Aways





So, Let’s consider: Some reasons to avoid Timeshares

Ok, so we’ve all heard of them. Frankly you can’t go on a decent vacation to any resort and not have some high pressure attempt to sell you one. Usually for free tickets to some tourist trap or another, and OH, if your spouse is with you they MUST attend with you…it’s all part of the high reassure sales scheme to snooker you into buying
a timeshare.

The schemes have changed over the years. You used to have deeded property, now you buy “points” or whatever, depending on what the scheme, uh, plan, actually is that’s being pitched.
You’ll be told perhaps as many have been in the past that they’re “GREAT investments…”, “you can pass them along to your family…”, “they’re going to increase in value…” and any of many other lines designed to make you fork over a lot of dough for some expensive stuff.

For starters, it’s not an investment. You should never even think of it as an investment – regardless of what the sales people tell you. The resale market for timeshares is incredibly illiquid and it’s doubtful you’d find a buyer, much less one that’s willing to pay you what you paid for it, and forget making any profit. There are however any number of organizations willing to take your timeshare off your hands…for a hefty fee… Also forget the idea of being able to “trade up” at some later date…the only way you’re going to be able to trade “up” is if you pay a hefty fee for the honor.

Are you SURE you want to go to the same venu each and every year? Really? What about logistic issues getting to and from your venu? Keep in mind, you’re totally locked in to a set time when you have access to your property. Depending on your contract you may be able to rent or trade your unit, but that’s something to read in the fine print. For some you have to play the points game, and that presumes that you even have it all figured out!

What if your schedule changes or some event happens that you can’t take your vacation that week? You’re screwed. Some let you “bank” your weeks and trade them, some don’t and some totally depend on the points system…again, caveat emptor and read the fine print.

Finally there’s those ever rising “maintenance fees” that they really either don’t talk much about when you’re buying or they downplay the hell out of. Trust me, they WILL INCREASE. They WILL get expensive. You will NOT be able to do anything about it. You’re contractually locked in to having to pay whatever they tell you that your assessment is. And, frankly when you do the math on how many units your place has, at 52 weeks a year times what you’re paying for your week’s maintenance fees…you’re going to quickly realize that someone’s really making a lot of dough, and it’s NOT you.

If you want to get a free set of tickets to some expensive vacation park, ok, go for the sales pitch, but, don’t fall for the pitch, regardless of how much they browbeat you, bitch, moan, pressure you, etc. Make sure you think LOGICALLY and do the financial math before you even think of this stuff. And don’t fall for that “this is a special price for right now only” line of crap. If they REALLY WANT your sale, they’ll sell to you at that price today or next week. They’re all commission sales based…and there’s always more than one person selling these things…

I’m Don Rima and that’s the view From Where I Stand.



Transfer Smart – Unloading your timeshare…at a price. 0

Posted by on in timeshare, timeshares, Travel, Vacation and Get Aways




Transfer Smart – Unloading your timeshare…at a price.

For the last several years I’ve owned a timeshare down in Ft. Lauderdale. It’s on the water, a nice place, and I never get down to it. But, it gets me into the “timeshare system” and I enjoy some of the other benefits.

I’ve given some thought of selling it and buying in another region that I’m more apt to vacation at. But, good luck with selling anything related to timeshare! I’ve looked at all those companies that have sent me cards and letters to sell my timeshare, only to find that they’re little more than high priced listing companies and have no intention of selling anything of mine. And of course, they want their money up front. No results guaranteed.

So, when I got a letter about a way to get out of my timeshare, guaranteed, I was interested. I called the number on the card. The fact that nobody could or would answer any of my questions but was incredibly eager to sign me up for a meeting they were having in my area, should have been a red flag that this wasn’t what I was looking for.

But I went.

The meeting was held in a hotel meeting room downtown that reminded me a lot of the kind of meetings I’d been in by high pressure sales people that were originally trying to sell me my timeshare. The presenters droned on, quoting people like Warren Buffet, Jane Bryant Quinn, and others, telling me how bad an investment in timeshares was and how much money I was going to be spending. I have to admit, some of their arguments were salient. But I was still wondering how I was going to get out of this thing.

Finally, the moment of truth. For the princely fee of about $4000, this group would take my timeshare off my hands. That’s right, the Transfer Smart organization, wanted me to PAY THEM about $4000 for the honor of taking my timeshare. This isn’t what I had in mind, I though it not a good business deal and I gathered up my papers and I left.

So, a quick heads up, if you get a nice card from Transfer Smart guaranteeing you a way out of your timeshare, expect to pay. And to pay a lot of money.

Which leads me to the question I’ve not gotten an answer to – What the heck do THEY do with all these time share units people are paying them to take away? If owning a timeshare unit was really that onerous, why would they want them? Oh well…

However, if you’re interested in a nice timeshare on the waterfront in Ft. Lauderdale mine’s still for sale and I’ll even entertain a swap.

Finally, if this was of any help to you, help me by clicking on one of the adverts on the right of your screen…besides, they may have something interesting as well.

I’m Don Rima, and that’s the view, From Where I Stand.