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RCI Points Or Weeks - Specific Tips To Avoid Timeshare Resale Programs Designed To Steal Your Money

RCI Points Or Weeks - Specific Tips To Avoid Timeshare Resale Programs Designed To Steal Your Money

By Patricia West

The Warnings Are Everywhere--But Timeshare Owners And Non-Owners Are Still Being Victimized

When you consider all the warnings that have appeared on television, been broadcast on radio, all the articles written, all the blog entries published and the total "page views" on internet sites, you would expect that timeshare owners or potential buyers would be totally immune from phony timeshare resale "programs".

But, in spite of those warnings, timeshare owners hoping to sell their timeshare and potential buyers hoping to find one on the resale market are falling for those phony programs and being victimized every day. It doesn't have to be that way.

How's This For A Great Business?

• There's no cost for the product you sell. None

• Other people give you--for free--the product you might sell

• You collect money--upfront--for what you haven't even sold yet

• You can keep all the money you collect--whether you sell the product or not

How about this? In a year-or even less-you convince 500 people to give you $500.00 each for a listing fee. You throw all the "listings" in a pile--and then do nothing. If you convince only 500 people to give you $500.00, that equals $250,000. That's a quarter of a million dollars.

Welcome to the world of individuals or companies that charge an upfront listing fee.

Bottom Line: Never, ever do business with an individual or company that charges an up front listing fee. Or, anyone--and this is a big warning--anyone who wants money "for expenses so we can proceed".

Companies Can Be A Problem--But So Can Individuals

First and foremost, be extremely cautious--or better yet--completely refuse to have anything to do with any individual or company that sends you a letter or phones you about selling or buying a timeshare. "Unsolicited contact" is the major tool of dishonest individuals or companies.

• Never do business with an individual or a company that tells you: "We'll buy your timeshare and relieve you of your payments and your maintenance fees". You'll still own your timeshare, still owe your payments and still owe your maintenance fees.

• Never do business with an individual or a company who offers to "take your timeshare off your hands" or trade your timeshare for a "better one", a "higher demand one" or one with "much lower fees".

• Be careful, even when buying a timeshare from an individual. Any "arrears" will have to be brought current before clear title can be issued.

• The seller might be behind on their maintenance fees--sometimes by a year or more

• There might be legal or administrative fees owed to the sellers resort.

• Some resorts charge a reasonable fee for transferring the title. Others look at it as a profit making opportunity and charge an exorbitant fee. Know what the fee is for transferring title before you proceed.

• There may be "special assessments" that are due.

• There may be multiple owners listed on the original title. One or more of them may try to sell the timeshare on their own. Make sure permission from all parties on the original title have been legally obtained.

Final Recommendations For Your Protection And Benefit

Only deal through a reputable and experienced Broker specifically familiar with buying and selling timeshare. Then, make sure the Broker is currently both licensed and bonded. Having a license-but not being bonded-does little. Also, make sure you use a formal Escrow Account.

And lastly, deal with a Broker who is connected with a system involving other Brokers experienced with timeshare in order to maximize your exposure to both timeshare buyers and sellers.

Be careful. Be cautious. Enjoy your vacations!

Patricia West has been in the Timeshare Industry for 26 years. She doesn't sell Weeks or Points and has no connection with RCI or any other exchange company. As a result, she provides independent and unbiased information and education about what you own or are thinking about owning. She has committed herself to helping owners and potential owners by answering their questions and helping them solve their problems regarding their Timeshare ownership. In response to numerous personal requests from both Weeks and Points owners, she created the "All-In-One-Place" resource Timeshare owners have been demanding for years. In part, to save people from wasting their time and money by thinking finding "one answer at a time" will be remotely helpful. See it now at http://GetTheMostFromPoints.com

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