Intercasa Posted February 7, 2014 Report Share Posted February 7, 2014 I have received many calls and investigated and there are multiple companies offering to buy timeshares but requesting the sellers pay upfront certain taxes and fees and these fees are either greatly inflated or fraudulent and they have fake SAT tax forms and a letter from a fake accountant. I went personally to the administrator of the SAT Guadalajara SUR office and they confirmed all papers are fake and that the RFC and CURP numbers of the representative are non existent. If you know of someone affected tell them to call my office and not pay anything else until we confirm the charges are valid. Link to comment Share on other sites More sharing options...
TioBob Posted February 7, 2014 Report Share Posted February 7, 2014 In my experience time shares are bad real estate investments. I don't know anyone that ever got their money out. Link to comment Share on other sites More sharing options...
paradise Posted February 8, 2014 Report Share Posted February 8, 2014 time shares are not a bad if you travel every year and you have family that travels also..... i sold time share in 1998 and had the pleasure of working for west gate resorts..... we where considered # 1 in the industry because all our properties were managed to take care of the customers..... we even owned a private zoo and would bring white bengal tigers once a week for the guest to enjoy nature at its best. on one corporate sales meeting our boss David Siegel actually walked down the isle with a full grown lyon on a leash and took the stage and the lyon sat like a dog right next to him. there is a youtube movie about David Siegel and his financial collapse when the economy went sour in the late 2000's. West gate resorts taking pride of being the best in the industry actually built a mega resort in las vegas (using 240,000,000 of West gates money only to be robbed by the banks in foreclosure and the banks taking over the brand new luxury highrise...... eventually 90% of the sales force was giving a pink slip... i was asked to work at the miami resort but decided to leave that industry. regardless... the best time share companies are marriot and Hilton....... Link to comment Share on other sites More sharing options...
Shelley Ronnfeldt Posted February 8, 2014 Report Share Posted February 8, 2014 I wonder if the white tigers considered their lives "nature at its best". Link to comment Share on other sites More sharing options...
hkrause Posted February 8, 2014 Report Share Posted February 8, 2014 I have a couple timeshares and considered selling one of them previously. In reading, it seems this scam is widespread and has been for years. NEVER pay upfront for somebody to sell a timeshare, as they're hard to get rid of and you may have money "invested" for years before anything happens, if at all. Even with "legit" resale companies. A good source of info and place to look for warnings is TUG - Timeshare Users Group - at this link: http://www.tug2.net/ I agree with Paradise that a timeshare CAN be good if you use it consistently, it has high quality properties and exchanges, and you feel you get your money's worth out of it. We LOVE our Disney timeshare and have used it for many wonderful vacations. Our other timeshare - Bluegreen - while good quality, we purchased minimal points for a specific purpose and no longer use it for that, so it's less valuable and more difficult for us to use. If anybody wants to BUY a timeshare, be sure to check the above website and consider purchasing from an existing owner. Many times you can get a property for minimal cost (or even free) from somebody who's trying to unload it if they're no longer using the timeshare and want to get out from under the maintenance fees. Heather Link to comment Share on other sites More sharing options...
lcscats Posted February 8, 2014 Report Share Posted February 8, 2014 Timeshares can be fun but your ability to control costs is limitied. I gave up on trading using RCI as the fees and taxes were almost up to the cost. I also find these days the ability to trade is much less unless you like all inclusive which we don't. At one time it was agood deal especially when you could trade. Luckily we gave our share of the timeshare to my wifes ex so we got out easily. Others find it difficult to get out and if you do it wrong it could affect your financial ratings. Selling timeshares is difficult for most of them. Of course location location location and demand really determine how easy it is to sell. I would say no today to timeshares unless you really check it out. Most timeshare companies don't really try to control costs in my opinion cause that's how they make money and it not like you can run to the meeting and object right? At one time we could trade a two bedroom in Tahoe and get a 1500 dollar property in the Caribbean at a cost of 750 dollars a year in fees. Now after taxes fees always going up in another five years we will spend more in fees than what we get in trade. Yes it can still work as others have said but it doesn't work for us anymore. Link to comment Share on other sites More sharing options...
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