The Timeshare Vacation Safety Net

The Timeshare Vacation Safety Net

Last week, Ireland’s biggest travel agency, Budget Travel, closed its doors, applying to the UK’s High Court to have the company placed into provisional liquidation. With some help from those administering the company’s affairs, all travelers stranded by the action appear to now be headed onward to their destination. A telephone helpline has been established (phone: 01 6613122) to deal with travel problems or anyone in need of a refund for his or her prepaid travel plans made through Budget Travel.

And if it is not unnerving enough to learn that one of the UK’s largest and oldest travel agencies has filed for what in the US, we would call bankruptcy, let’s look at these related warning:

The Travel Mole cites research from Pricewaterhouse Coopers, saying, “The rate of travel company insolvencies was 13 percent higher in the first nine months of this year than the same period in 2008.This is despite the collapse of XL (a major British tour and travel operator) last year.”

BreakingTravelNews.com says, “Travel experts have warned of a, ‘ticking time bomb‘ for travel companies as Ireland’s biggest tour operator goes to the wall.”

With forewarnings such as these, for travelers to or from the US, booking travel arrangements with UK travel companies may create a level of uncertainty. And while staying in a timeshare resale or timeshare rental doesn’t eliminate the problem of air travel and other transportation booked via a travel agency that might be bankrupt by the time your holiday rolls around, it does solve the problem of whether you will have accommodations when you get there.

Timeshare Resale Solutions for Travelers

When you buy timeshare resales or book a timeshare rental directly from the owner, you are bypassing any middleman or third party who could potentially be out of business before you get ready to travel. Even when your timeshare resale involves the use of a timeshare broker, you have still bought your property directly from the individual who presently owns it, with the timeshare broker involved only to facilitate the timeshare sales transaction.

Schedule a timeshare rental vacation, and you have the same assurances. You may be using a website, such as Sell My Timeshare NOW, or working directly with one of our timeshare rental specialists, but your actual vacation accommodations come from the person who currently owns the timeshare. With either approach, you eliminate the worry that your travel agency will be defunct by the time you need them.

Timeshare resales and timeshare rentals don’t resolve all of a vacationer’s concerns, but if you have never experienced timesharing, you are going to be amazed at how many problems they do remove.

Timeshares mean minimal vacation planning, spacious accommodations, worldwide destinations, and peace of mind assurance that your room or condo will be ready and waiting when you arrive.

Timeshares Are Not an Investment … How Many Times Do They Have to Say It?

Timeshares Are Not an Investment … How Many Times Do They Have to Say It?

The website InvestorWords.com gives us these definitions of the word, “investment”:

  • Definition 1
    In finance, the purchase of a financial product or other item of value with an expectation of favorable future returns. In general terms, investment means the use money in the hope of making more money.
  • Definition 2
    In business, the purchase by a producer of a physical good, such as durable equipment or inventory, in the hope of improving future business.

Over the past six years, since Sell My Timeshare NOW was first founded, we have written, stated, tweeted, and probably shouted from a few rooftops, “timeshares are not an investment.”

Timeshares are a fabulous way to vacation, offering ease of vacation planning, spacious accommodations, and amenities to suit every member of the family. But you should not buy timeshare because you expect to be able to resell it at a higher price. And our legal system, including the Securities and Exchange Commission takes a dim view of people who try to tell you otherwise.

Case in point from this week’s Legal Newsline:

A company described as a Nevada based timeshare ‘repurchaser’, Apex Professionals, LLC, will be paying more than $120,00 in restitution and penalties to settle a claim filed in the Vermont courts.$64,000 will go to 15 Vermont consumers while $65,000 will go to the State of Vermont in penalties, costs, and alleged violations.

“If out-of-state companies offering an economic benefit to consumers in Vermont violate the state’s consumer laws, they can expect strong enforcement and serious consequences,” says the Vermont Attorney General, William Sorrell.

Here’s what got Apex into so much trouble. Last March, their representatives met with timeshare owners at a Burlington Hotel, and again in May at a hotel in Montpelier. The attendees had responded to a postcard that read, “Don’t play the waiting game in this economy! If you accept our offer we will put your timeshare into closing immediately.”
Apex wanted timeshare owners to transfer their timeshare to Apex, which would then relieve the owners of ongoing timeshare maintenance fees, taxes, and related costs. Timeshare owners at the meetings expected to receive money for their timeshare in the timeshare transfer process—instead, they were charged a fee for the timeshare transfer.

But they were told, (and this is what made it easy for the Vermont Attorney General to put the hammer down) that the payment they were making to Apex (usually several thousand dollars) would be deductible on their federal income taxes as an investment loss. And with that one claim of timeshares being an investment, the path was cleared for easy legal action against Apex.

This story comes packed with lots of lessons.

  • Don’t take tax advice from anyone who is not certified to provide it.
  • Don’t transfer your timeshare to anyone or any company on a promise.
  • And most importantly, if it seems too good to be true… don’t believe the hype!

Yes, you can resell your timeshare. You can also donate your timeshare, give it away, or use it as a timeshare rental, and these are all strategies for offsetting or eliminating the cost of continuing to pay annual fees on a timeshare you no longer use. But before you take any of these actions, make sure you are dealing with a reputable timeshare resales advertising company or timeshare brokers who are giving you a reasonable and accurate picture about timeshare resales.

Good Job Timeshare Brokerage Services!

Good Job Timeshare Brokerage Services!

Sell My Timeshare NOW offers flexibility in timeshare sales services, with options to suit the need of every timeshare seller or buyer.

Some timeshare owners sell timeshare themselves, advertising it on our Sell My Timeshare NOW website. Other timeshare owners prefer to let a licensed real estate broker handle the process for them from start to finish. For those timeshare owners, we offer Timeshare Broker Services.

As a division of Sell My Timeshare NOW, Timeshare Broker Services is a successful fee-based timeshare brokerage that continues to demonstrate that timeshares are selling on the resale market despite the downturn in the economy. In 2008, Timeshare Broker Services closed sales on more than $12 million in timeshare resales. And this year, the number of timeshares sold has increased by 10 percent over this same time last year.

Don Nadeau is a licensed real estate broker and the managing director of Timeshare Broker Services. Don says, “Last year we sold over 900 timeshare resales at Timeshare Broker Services, and we took our commissions after the sale on each one of them. This attests to the strength, integrity, and customer-centric services of our company, and bears out the fact that we provide a much-needed service in the timeshare industry today.”

What Makes Timeshare Brokerage Services Stand Out

Timeshare Broker Services has built its success on a single strategic axiom. As Don reminds people, “We actually sell timeshare!”

Follow this link to read the full Sell My Timeshare NOW press release about the continuing success of Timeshare Broker Services. Or visit their website at www.timesharebrokerservices.com

And if you are planning on attending the ARDA Convention next week in Orlando, be sure you look for representatives of Timeshare Broker Services there.

Vacation Property Solutions is a Developer-Friendly Solution for Timeshare Sales

Vacation Property Solutions is a Developer-Friendly Solution for Timeshare Sales

We have a new division at Sell My Timeshare NOW – it’s called Vacation Property Solutions. This is a revolutionary new business-to-business resale solution for timeshare resorts and timeshare developers. Vacation Property Solutions is a one-stop solution for the types of timeshare resale needs facing developers and resorts and it will utilize the services of both our brokerage arm: Timeshare Broker Services, and our closing company: Transfer My Timeshare.

Vacation Property Solutions expands our services at Sell My Timeshare NOW, to include brokers, resorts, travel clubs, and wholesalers, helping them solve the timeshare inventory problems of their customers. Working directly with timeshare developers and with resorts, we can offer them discounted rates for bulk business.

Vacation Property Solutions lets us take the same types of great services and expansive internet visibility that we already offer consumers, and offer them to timeshare developers and timeshare resorts. Developers looking to rent out timeshare weeks or Home Owners Associations needing to liquidate their delinquent inventory, have access to the more than 2 million monthly visitors to the Sell My Timeshare NOW website. Vacation Property Solutions offers a way for developers to buy back inventory, helping to stabilize prices on the resale market, and to solve the ownership dilemmas of buyers who already own intervals but are looking to buy into a new timeshare resort.

Vacation Property Solutions, an Important Part of Sell My Timeshare NOW

Freda Stemick, at Vacation Property Solutions, is the timeshare industry’s point of contact. Freda says, “Vacation Property Solutions is both developer-friendly and resort-friendly, building a bridge between the retail and secondary markets of the timeshare industry.”

Freda brings over 20 years of experience in timeshare sales, starting with her first timeshare industry job at Virginia’s Massanutten Resort.

Click here to read the press release for Vacation Property Solutions.