Dallas, TX, November 20, 2009 -- In this challenging economy, consumers are looking for ways to reduce debt. Some timeshare owners are interested in selling their timeshares so they can recoup their investment and stop paying maintenance fees. These owners may turn to timeshare resale businesses. But according to customer complaints, some timeshare resale businesses are making promises they can’t fulfill.
One business, Resorts Condos Management, 320 Decker Dr., Suite 100, Irving, is the subject of complaints from timeshare owners across the U.S. to the Better Business Bureau serving Dallas and Northeast Texas. The complaints allege that the business misrepresents in telemarketing calls that buyers are already lined up. But after paying an upfront fee of about $1,400 to $2,500, the complaints say, customers find that buyers aren’t immediately available. Customers discover that the service provided by Resort Condos Management’s is to list the availability of their timeshare for sale.
A woman in Florida complained: “I received a call from agent … He advised my timeshare property was sold. Buyer put down $7000 deposit and was ready to buy. I needed to pay $2197.00 to cover the title transfer costs. After I paid, I was instructed to sign a form that would be mailed to me … I received the papers. Nowhere on the paper work did it describe the sale, only that I was paying Resorts Condos Management for their services … I cancelled within the timeframe allowed and wanted my money back. ….” The business promised a refund, however, the customer says the refund has not been received. This complaint is closed as unresolved.
Resorts Condos Management has a BBB rating of F, on a scale from A+ to F. Reasons for this rating include:
• 16 complaints filed against business
• Failure to respond to 2 complaints filed against business
• 8 complaints filed against business that were not resolved
• 9 serious complaints filed against business
In another complaint, a customer in Illinois says that after paying $2,500, “In a follow-up conversation with them, I was advised by their receptionist that they do not perform any sales, but merely provide an Internet-based listing service of timeshare resales and that any interested buyers would be referred directly to me.” The business stated it would provide the customer with the “information requested”, however, the customer maintains that “their telemarketing staff is deliberately misleading.” This complaint is closed as unresolved.
The BBB advises potential customers of timeshare resale businesses to have a clear understanding of all terms and conditions of the company’s contract before signing.
If the business offers a listing service, find out where the company’s ads will appear, and determine what criteria the company uses when matching potential buyers and sellers of timeshare properties.
“In a typical real estate transaction the fee is paid from the proceeds of the sale, at the time of the sale,” advises the Attorney General of Florida. “You may want to opt for a company which will wait for its fee until the sale goes through. You should also find out if the salespeople are licensed real estate brokers and whether there are any complaints lodged against the broker.”
Check out the business with the BBB at www.bbb.org. Be wary of any high-pressure, too-good-to-be-true claims that the timeshare resale market is “hot” or that a buyer is already lined up.