Resale woes leave Orlando-area time-s...

Resale woes leave Orlando-area time-share owners in limbo

There are 89 comments on the Orlando Sentinel story from Dec 17, 2007, titled Resale woes leave Orlando-area time-share owners in limbo. In it, Orlando Sentinel reports that:

Pete and Sharon Bissinger loved the Kissimmee time-share apartment they had owned for 15 years, often offering it to relatives on visits to Central Florida or trading their annual week with other time-share ...

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Eddyville, KY

#1 Dec 17, 2007
Scam me once, shame on you. Scam me twice, shame on me.
Interested Observer

Bristol, CT

#2 Dec 17, 2007
This is hardly news. This time-share scam has been going on since the 70's - probably longer.

Time-shares may make sense for someone who plans to use it for life. But resales - or inherited weeks - are pretty much losing deals. Give it back to the time-share association so they can sell it again. Oh, their commission? 100%!


#3 Dec 17, 2007
I ahve alwasy maintained Time shares wwere a crock and I am now prove correct. It would be easier and cheaper to put the same $ in the bank and use the interest to go anywhere you want without the headaches!

“I hate stupidity & ignorance”

Since: Oct 07


#4 Dec 17, 2007
Pooh-Bah wrote:
Scam me once, shame on you. Scam me twice, shame on me.
DId you mean...Fool me once, shame on — shame on you. Fool me — you can't get fooled again." —President George W. Bush
Industry insider


#5 Dec 17, 2007
I'm surprised the article didn't mention the "worlds largest timeshare resale" company Timeshares Only in Orlando.
This is the biggest scam in the industry. You pay $595 to "advertise" your timeshare for sale, and NEVER hear from them again. If you look, the focus of all their ads is to get more people to list, they could care less if you sell.
In fact, they only sell 2-3% of everything they list.
When you call there, you speak with a highly trained LIAR, who will tell you anything to get your credit card number. They spend weeks training the "consultants" how to oversome your objection to pay the upfront fee.
They will give you an extremely high suggested price to list your timeshare, and if it ever does sell, it will only go for a fraction of what they told you.
The ads on their website that reflect units "sold", ALL of them were sold by the owners, not through Timeshares Only. Their consultants are very well paid, and the owner has become a very rich man by collecting this $585 upfront fee.

Use common sense, and NEVER pay an upfront fee.

Windermere, FL

#6 Dec 17, 2007
Wish we could unload our time share. We, too, paid the the $400 resale company and haven't heard one word from a buyer or the company since. We haven't used it in years so all that $$ is just going down the drain. We're going to try now to contact the management company and see if they want it back -- our loss initially, but to keep it will cost more in the long run.

Winter Garden, FL

#7 Dec 17, 2007

Spartanburg, SC

#8 Dec 17, 2007
I guess that the old saying " There is a sucker born every minute' is still true! These units are overpriced to start! There are huge expenses (marketing & commissions) built in that it blows my mind to hear people buy into this xxxx. On top of the price you have to pay maintenance fees! Its crazy!!!
Mr Wayne

Dallas, TX

#9 Dec 17, 2007
AVOID timeshare at all costs unless you have the money to blow then its ok. I like to see an investigation of all the timeshares, I suspect that the developers resell many so call new units over and over again as people default ect. Yet they don't resell yours as they want a big profit. Look at the foreclosure notices in the papers, a ton of timeshare units year after year. I am sure they are being resold by the developer. Listen to the salesperson's claims that 20 units are sold per day, then look at the size of the resort, it takes several years to sell, and they sell by the week, so if you don't buy on the first few weeks of the opening, the unit will have been used many times, no new unit by any means. Maintenance costs are outrageous, often so high, that you can stay in a nice resort, then you have the ultimate flexibility not being strapped by the limitations of the timeshare. The timeshare managers are very slick sellers, they are the closers, if they are not really slick they drop them. My advice stick to resorts or buy a condo in a great location and swap when you must. Of course, the slick timeshare managers sell the media that everything is up and up, don't believe it.
MN who loves Florida

Marion, IA

#10 Dec 17, 2007
You don't want to ever get into a timeshare were you can't sell it back to the originally seller. Timeshares are get ways to travel and enjoy vacations if you buy into a credible one that does not use RCI to trade. RCI is a joke. RCI sounds like a great place to switch your time, but in the end it is very difficult to get to where you really want to go because of others who own in the areas that they not want to trade. RCI also puts a limit on how many times you may visit certain vacation spots. Or you buy one in the area you want to go to every vacation. We have a timeshare in the Orlando area and love every minute of it. We can stay at any one of the seven clubs in Florida at no additional cost. We can even spilt our time at more than one on a vacation. We love the golf course connected to the timeshare. It is wonderful and would not sell it for a million bucks.

Carrollton, TX

#11 Dec 17, 2007
I am so glad I used my home equidy line of credit to buy a timeshare. Now I am losing my trailer to the bank.

Titusville, FL

#12 Dec 17, 2007
Go to the unit in person and search out prospects who are there on the "free" tour. You will have more luck that way than giving it to someone to sell for you.Some people are there to buy and you could give them a good bargain. Also listen to Clark Howard and pay attention and you will never do a bonehead thing again.

Lakeland, FL

#13 Dec 17, 2007
Neve again will I do this . I paid 595 for timeshare adventures to sell my unit last year never heard from anyone. call them twice they only told me they will make it more seen? Liars!!! What a rip off!! Never Again Thank God I brought it in mexico... Well I was fooled once. There will not be a next time. I wished what I knew now I new then:(

Hamilton, Canada

#14 Dec 17, 2007
Well folks; I used to work for 2 of the largest "timeshare advertising" companies in Orlando and scammers they ALL are. If you need a unit; rent one, they are like snow flakes in the wind. And besides; who vacations in the same place year after year. If you really are die hard vacationers; Mariott and a few other companies have programs that works on points and they are transferable to multiple destinations; cruises; etc. Otherwise rent one off of one of the chumps that bought one.....
StayAwayFromTime Share

Riverside, CA

#15 Dec 17, 2007
Fractional ownership is the latest buzzword I see advertised in Fort Liquordale, FlawDuh.
Rob Lowe

Palm Bay, FL

#16 Dec 17, 2007
What a load.. The Westgate way is to pitch rentel and resale. Siegel knows this, all he has to do is go to one of his own training classes or listen to one of the hundreds of daily pitches at any of his properties. For him to claim that they don't pitch it is a flat out lie, He should be taken to task, We know and he knows they pitch it every day.
Fed up

Frisco, TX

#17 Dec 17, 2007
I sold timeshare for Westgate and although we were trained not to "say" it's a real estate investment, it's certainly implied. We make references to how fast Disney's Reunion sold over $100 million dollars pf home sites in just 6 hours, tell buyers how Disney and other theme parks are constantly spending millions of dollars to upgrade their parks and ask them the question..."so what do you think will happen to the value of the land once Disney completes it's newest attraction?" and the buyer responds "it will go up!" I have certainly heard sales people tell buyers purchasing is an investment and so many other lies. I know they will switch units on you (you think you bought a 2 bedrm but when you come back to use it, they say you bought a 1 bedrm), just so they can "upgrade" you to the unti you thought you already purchased in the beginning! Their motto is "If owners don't have any problems, we can't sell them anything"! So they thrive on buyers being ripped off so they can give the appearance that they are doing them some kind of favor by selling them more crap! Their all a bunch of liars and Seigel is the ring leader.
John in Seminole

Pittsburgh, PA

#18 Dec 17, 2007
David Siegel doesn't have to get into the timeshare resale business. Its already in the contract. Westgate gets first right of refusal on any resale anyway, so if the price for one of the units is low enough, Westgate can just cancel the pending resale and take it back at the price agreed upon. You want to "give" your timeshare to your parents? Then Westgate will just take it for free. Hardly what I would call real "ownership".

The funny thing is that timeshare companies actually use "ownership" as a ploy. It sounds great, but the buyers don't really think of what ownership really means. Of course, they call it an "investment". Its not, except in some cases some timeshares can be a good vacation investment over time.

Disney, on the other hand, will offer something like 70 cents to the dollar to buy back their points, so Disney timeshares don't have quite the same problems as other timeshares. Or so I've heard.

Try for timeshare resales. If nothing else, just look at it and get an idea of what your timeshare resells at.

If resales are bad for sellers, they're great for buyers. You can get some pretty good deals going the resale route. Don't even think of doing it retail. Of course, Siegel hates it, because he wants to sell timeshares at inflated prices to naive people, and then have them foreclose in a year, and sell it again and again.
Reality Check

Jupiter, FL

#19 Dec 17, 2007
Quotes: "You can fool some of the people all of the time"; "There's a sucker born every minute"; "A fool and his gold will soon be parted".
Dr Who Timeshare Lord

Orlando, FL

#20 Dec 17, 2007
Don't just walk, RUN away from anyone trying to sell you a timeshare. You CANNOT buy time! The Timelord council will banish you to the Dalek homeworld for infinity if you buy one of these idiotic paper scams.

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