How much is my timeshare worth?

Timeshares are sold for thousands of dollars, but, is that their real value? How much is your timeshare worth? Find out by reading the next article

One of the biggest timeshare complaints is that the units are usually overpriced. People basically pay thousands of dollars for a contract and the right to use one or more units of the resort for a specific number of weeks, during a certain period –which goes from 5 to 50 years–. The purchase of a timeshare is like making reservations for your next vacations for the next years, which doesn’t seem to be that wise, does it?

By the time timeshare owners realize that they don’t really need their vacation ownership, as they can basically get same quality vacations for a better price, it might be too late to cancel their contract with the resort’s customer service. That’s when they start thinking on different possibilities to get rid of their properties, and most of them think on selling the unit, but once they get to the resale market, they understand that the value of their timeshare has collapsed. So,how much is my timeshare worth? Read the next article to find out the real value of your timeshare unit.

Price and Value

Let’s start by not confusing price and value. The price is the monetary value that is assigned to a certain good or service, and this is determined by what the prospect buyer is willing to pay, and by the supply and demand. Therefore, the exactly same timeshare ownership can be sold to two different owners for very different prices.

The value, on the other hand, is the benefit that the customer gets by acquiring a certain good or service, as well as the capacity of satisfaction that the product can provide. Consequently, if you ask us, how much is my timeshare worth? Our answer wouldn’t match with the price you originally paid for your timeshare. For that reason, you could easily find an eBay timeshare for sale for just $1 or even less.

Before buying a timeshare, we highly recommend you to think how you will use the unit during the next years, if you will be able to pay your timeshare maintenance fees, and to do an internet research of the company.

The resale market

Do not expect to sell your timeshare at the same price that you first bought it; timeshare pricesare way higher than their real value. That’s right, let’s don’t forget that timeshares are overpriced, and they actually lose over 50% of their purchase price allocation once the contract is signed. However, start with a competitive price, but be always open to negotiate, remember that people like to bargain. Nevertheless, chose a realistic price, and keep in mind that the lower prices get the most action.

Also, do not feel afraid to take a loss, you will hardly make a profit out of your timeshare. In fact, determining the resale price of your timeshare unit is the easy part, the hardest is the process of selling it. Unfortunately, there is actually not a significant resale market for timeshares, and the stark truth is that most timeshares are worthless.

And our biggest advice: Never pay a large upfront fee to sell your timeshare. There are manytimeshare resale scam companies that claim to sell your vacation ownership for unrealistic prices, but once you paid an upfront fee, they disappear.

How much is my timeshare worth?

By this time, you might feel a little regretful of your purchase, which is understandable, but not terrible. To answer to your question–

How much is my timeshare worth? – The price will be determined by the resort, the location, and the number of weeks you own, but the real value is almost zero, as most timeshares are worthless.

The trend to appreciate things for their price, and not for their real value, induces us to waste our hard-earned money, inasmuch as we frequently lose the capacity to distinguish between what it’s valuable and what is not.

However, if you really want to get rid of your timeshare, it will be almost impossible to do so if you decide to sell it.  Timeshare cancellation is the best option to get rid of an unwanted timeshare.  At Mexican Timeshare Solutions, we assist timeshare purchasers who feel they were scammed or taken advantage of by the salesmen.

MTS is a legitimate company with an A rating on the BBB, Our associates have several years experience in the timeshare industry and are successfully able to resolve timeshare scam cases in an ethical and professional manner. Contact MTS today for a free consultation and get rid of the financial burdens that your timeshare gives you.

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How much do timeshares cost?

Timeshare prices, are they affordable?

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How much do timeshares cost?

Is it worth buying a timeshare?  Learn more about timeshare industry and how the cost can be very volatile

According to some travel magazines and newspapers, timeshares have “revolutionized” the way to vacation, making it one of the fastest growing sectors of the travel industry and creating the perception that a timeshare is an intelligent investment and great way to spend quality time with your beloved ones, but this is just the tip of the iceberg.

What is really intriguing is the rest of the information that is hidden under the water.  Everything happens for a reason, and sometimes the reasons are wrong. Timeshare sales practices are often high-pressure and fraudulent. When attending to a timeshare presentation; people are put into a 2-4 hours nightmare where they are told over and over again how great it would be for them to buy a timeshare, at the extent it gets annoying and even aggressive.

On one side are the resorts, claiming that buying a timeshare is a good investment and a fantastic way to vacation, and on the other side are the dissatisfied owners, who are desperately looking for solutions to get rid of their properties. All of this has created lots of confusion on how much do timeshares cost, and if it’s really worth it to purchase one.

How much do timeshares cost – The variables

There are some variables that determine how much do timeshares cost. The cost of a timeshare will depend on:

  • The size of the resort
  • The age of the resort
  • The resort brand
  • The location
  • The current market demand
  • The amenities

The cost also relies on the economic position the potential buyer has. A salesman can sale the same timeshare unit from $10,000 to $30,000 USD, depending on how much the person is willing to pay. The purchase price of a timeshare, if you buy from the developer, can go from $5,000 to $200,000 USD. According to BudgetTravel.com, the average cost to buy a timeshare for a week is $15,000; this price does not include the extra costs. These extra costs are the ones that make the difference between buying directly from the developer and buying on the resale market. Different story happens on the resale market, where you find properties from $1 USD.

How much do timeshares cost – Extra costs

Since a timeshare will be like a partial residence, there will be a tax implication. It would be great if by getting a timeshare you’d only have to pay the purchase price, but along that purchase come the annual fees you have the responsibility to pay. This fact alters the perception given by the resorts on how much do timeshares cost.  If you buy a timeshare for 20 or 30 years, you have to keep in mind you will have to pay those fees whether you use your timeshare week or not, and the fees won’t stay fixed, they will increase while the time goes by.  The fees and the taxes depend enormously on the value of the timeshare and the location.

  • Extra Costs:
  •  Maintenance fee: Depending on the running timeshare resort, it can go from $450 to $750 per year.
  •  Membership fee: Some resorts charge a membership fee that goes from $90 to $200 USD.
  • Assessment fee:  An assessment fee is nothing but an extra charge made to the owner when the resort is going through a reshuffle or a restyling.
  • Transfer tax: If you are not happy with your purchase and are planning to sell it or rent it, it will be applied a transfer tax.
  • Make sure you read the fine print of your contract for you to know which fees you will have the responsibility to pay.

How much do timeshares cost – The amenities

There is hardly a difference between the amenities provided to regular clients that the amenities provided to timeshare owners. The units are already furnished and they count with a daily housekeeping and maintenance service.  Most timeshare units are larger than an ordinary hotel room, looking more like a suite, equipped with a living room, a kitchen and a hot tub in some cases.

Timeshares used to be considered unique and as a luxury, but now they are just like any other resort suite. There is nothing special about them.  The amenities you will receive with your purchase depend on the timeshare running resort, and as it was mentioned, they are on more variable that determine how much do timeshares cost. The more amenities the resort has, the more expensive the timeshare is.

How much do timeshares cost – Is it worth it?

Straight up and simple: No.  By simple logic, a timeshare needs to be seen as an expensive purchase and not as an investment.

So, how much do timeshares cost? – .

Before making a timeshare purchase you have to think objectively, despite all the promises you will be told in order for you to buy a timeshare.  If a timeshare is such a good investment, why are thousands of people to sell their properties?  Very simple, because it is really hard to keep on with the annual payments, and with the economy as it is now, it is important to manage our money properly and keep our credit record clean, for the sake of our families.

If you find yourself in a situation where you are stuck with a timeshare you don’t want anymore, there is no reason to be hopeless.  Everything has a solution, and the best way to get rid of a timeshare is by cancelling the contract.

At Mexican Timeshare Solutions we offer you a free consultation on your timeshare matter, and we do not make any charges until your contract is appropriately cancelled. Contact MTS today and relief yourself from your timeshare; get the financial freedom we’re all looking for.

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How long do I have to rescind my timeshare? – Mexican Law

You’re not alone, and many vacationers have been through the same situation. Timeshare scams in Mexico have become a huge problem, and the number of Mexican timeshare fraudvictims has been increasing at an alarming rate.  However, there is always a way to get out of your timeshare contract, all you have to do is to investigate about the possibilities to get rid of a timeshare you no longer want in a legal way. So, How long do I have to rescind my timeshare? Find out the answer to this question by reading this article.

Timeshare scams in Mexico

Due to the magnificence of its beaches and its beautiful locations and surroundings, Mexico is a very touristic country, because of that; it makes sense to know that it is the second country in the world with more timeshare developers, just after the USA. From the airport to the streets,timeshare salespeople are everywhere, and anyone could easily become a victim of a timeshare scam while vacationing in Mexico.

There are many timeshare companies that use fraudulent and misleading tactics to sell their units. Also, because the concept of timeshare has already a bad reputation, they usually claim that they do not really sell timeshares, but vacation memberships, which is actually the same.  The complaints about this matter are so many that not even PROFECO (The Mexican’s Consumer Protection Agency) can take care of all of them.

How long do I have to rescind my timeshare?

Despite of what you might be told during timeshare presentations, you will always have a legal right to rescind your timeshare. Many people are forced to sign away their right to rescind, but this is an illegal practice and it does not exclude you from your right to cancel.

According to the law in Mexico, you have 5 business days (Monday-Friday) to legally rescind your timeshare contract after you have signed it. If you decide to cancel the contract within that period, you should notify the resort about your decision as soon as possible.

What if the cancellation period has expired?

In most cases, timeshare fraud victims realize that they have been scammed, after the cancellation period has expired. This does not mean you lost your opportunity to cancel your timeshare, as you still have the possibility to do so. At Mexican Timeshare Solutions, we have a team of timeshare cancel professionals who are committed to changing and rectifying this fraudulent industry, one client at a time. We will work hard to cancel your contract, regardless of whether you purchased your timeshare 2 days or 2 years ago. Contact us today for a free consultation and find out how to cancel your timeshare properly.

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How do I know if I was a timeshare scam victim?

The sale of timeshare ownership has become an enormously profitable way for resorts to generate additional income. In essence, buying a timeshare means that you get to share a vacation property with different parties, usually divided by 52 weeks. If you are interested in getting one of these properties, it is very likely that you have to assist a sales presentation, where you will be pushed at a certain point to sign a sales agreement. But, how do I know if I was a timeshare scam victim? In the following paragraphs we will tell you the most common lies said during timeshare presentations.

Also Read: Timeshare Graud; 5 tips timeshare Resorts Don´t want you to know.

Timeshare scams: One of the most popular frauds in Mexico

Mexican timeshare fraud has been increasing over the last years, this according to PROFECO, the Government’s Consumer Protection Agency in Mexico. Only this year, from January to April, 478 complaints about 20 different timeshare companies have already been filed, but that is only the beginning. After the complaint is filed, it takes a long time to accomplish a conciliation of the case, and that is not always possible.

Before buying a timeshare in Mexico, it is very important that you get to know your timeshare cancellation rights.  When you purchase a timeshare in Mexico, you have 5 business days to cancel the contract; this after the contract is signed. Another important thing to know, it’s that under the Mexican law, verbal promises are not valid if they are not written. Therefore, you should read your contract very carefully before you sign it.

How do I know if I was a timeshare scam victim?

At this point, you are probably wondering, How do I know if I was a timeshare scam victim? –If you know recognize any of the following statements, it is very likely that you are a timeshare scam victim:

  • The verbal promises told by the timeshares salespeople during the presentation are not established in the contract
  • You were told that your timeshare would be a smart financial investment
  • They told you that your timeshare would be easy to resell
  • You were told that you could rent your timeshare weeks easily so you can make a profit out of them
  • You were told that you could travel all over the world with your timeshare unit
  • You were told that you would get great discounts in cruises, air tickets, car rentals, city tours, etc.

Also Read: Mexican Timeshare Fraud

What to do if I end up being a timeshare scam victim?

If you unfortunately, find yourself stuck in a timeshare scam, you will be glad to hear that there is a way to get out of timeshare legally. If you have already purchased a timeshare, contact us at Mexican Timeshare Solutions. We offer professional and efficient services to cancel your timeshare contract as soon as possible. At MTS, we will work hard on your behalf and with no upfront fees. Contact us today for a free consultation!

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Timeshare scams increase in bad economy

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Grand Weeks VIP: Timeshare Resale Scam

With a large number of complaints being filed every day, timeshare laws are more getting more rigid, however, timeshare resale scams are becoming more planned andsophisticated. Know one of the largest timeshare scams perpetuated in Mexico.  

Timeshare resales are the order of the day when it comes to timeshare scams. Every year, thousands of people are defrauded by several timeshare resale companies, which disappear after a while.  Timeshare scams take millions of dollars, leaving a big number of timeshare owners in a critical financial situation. There’s no smoke without fire, and if there is bad news about something, such as complaints and deceits, is better if you stay away from it.

One of the reasons people keep falling for these scams is that timeshare salespeople are experts on lying —they can lie straight to your face without feeling any bad conscious— therefore, it is important that you try not to let yourself be dazzled with over realistic promises. Grand Weeks VIP is one of the latest and biggest scams.

Grand Weeks VIP

Grand Weeks VIP is a vacation package.  Timeshare owners are the biggest target of this scam. This fraud is mostly executed in Cabo San Lucas, a world popular beach destination located in Mexico. The salesperson invites the potential victims to a timeshare presentation in Cabo Viejo. The salespeople claim to the owners that they can sell their timeshare for impressively large amounts of money.

Part of the deal is that you need to buy a “membership” which you can use to stay at several luxury resorts for very reasonable rates. This membership costs about $2000.00 USD plus some additional fees. After you buy the membership, you are promised you will receive the payment for your timeshare within 60-90 days, of course, that never happens.

Once you pay the asked amount, another company involved claims you must pay $700.00 USD, at the same time, an escrow company asks for $875.00 for closing cost, and then another $800.00 USD for attorney’s fees.

– Companies involved:

Essential Resorts LTD: Essential Resorts is the Travel Club which will supposedly buy your timeshare. This Company had an F rating on the BBB, but is no longer accredited.

Contact names: Julian Rosenthal, Cindy Watts, Raúl Mendez

Phone: 786-347-6485 (Disconnected)

Financial Services International:  With an F rating on the BBB, Financial Services International is the Escrow Company that takes part of this scam.

Contact names: James Hoffman, Tony Rogers, Frank Rivers

Phone: 210-401-8702 (Disconnected)

Email: financialservicesint@gmail.com

 Grand Weeks/Servicios Vacacionales:  This is the company where you buy the membership. As the other companies involved, Grand Weeks VIP had an F rating on the BBB and is no longer accredited.  The promises are big, but the services are useless. They claim to be part of theSabre Travel Network, even where they are not.

Contact names: Raul Mendez, Cindy Watts, Julian Rosenthal

Phone: 888-560-4058 (Disconnected)

This is a very sophisticated and well planned scam. Costumers should be cautions and know all the details about this fraud.

Common complaints

Most of the complaints come out of Cabo San Lucas, Mexico. Despite of all the promises, the owners got nothing but scammed. These are some of the most common complaints about Grand Weeks VIP:

  • Deceitful sales practices
  • Companies asked owners for large amounts to sell their timeshares
  •  Victims have lost from $3000 to $8000 USD
  •  Owners never heard again from the developers
  •  Companies are not legitimate
  •  People never received any of the promised materials
  •  Websites and emails no longer exist
  • The physical addresses are not real

Hundreds of Complaints about this scam have been filed in several websites like:

Do your homework

Do not let desperation clouds your judgment, if an offer sounds too good to be true, it’s because it probably is.  Before making a deal with any company, especially in the timeshare industry, google the name of the business and find out everything you can about it.  Do not trust verbal promises and ask as many questions as you can.

If you, or someone you know, are stuck with timeshare you don’t want or you can’t afford, the best solution for you is to cancel your contract. Contact Mexican Timeshare Solutions for a free consultation on your matter. MTS is a legit company with an A rating on the BBB, which works under a contingency basis and only collects fees when the contract is fully cancelled. ContactMTS today for a free advice and get ready to get rid of your timeshare in a professional manner.

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Are timeshares scams?

GRAND MIRAMAR: Hundreds of people get scammed in Puerto Vallarta

 In Puerto Vallarta, the American Mark Talon knew the market as well as himself, where he moved like a fish in the ocean, he opened and closed businesses at the same time he was associated with those who were immersed in the timeshare industry.  No one was suspicious about him, but his personality betrayed him: he was very ostentatious; he drove a big hummer and liked to wear expensive jewelry. But his luck came to an end a few months ago, when agents of the DEA (Drug Enforcement Administration) arrested him to response to some illegal drug trade acts occurred in the American Union. The US government has been very hermetic about Mark Talon, and didn’t report notice about his arrest.

In recent journalistic investigations, it was revealed that Mark Talon was associated with Michael Diaz, who is son of the CPA Miguel Diaz, and suddenly came back to Puerto Vallarta from Tijuana with lots of money in his pockets, enough to put several businesses in operation.  Therefore, Michael Diaz has been in the spot light of the Mexican authorities.

Grand Miramar – The Company

Mark Talon and Michael Diaz opened a sales company called “Corporativo Integral” (Integral Corporate), and through this company they sold almost all the timeshare properties at the resort “Grand Miramar” but in this process hundreds of American customers got defrauded. They told them that with their purchase they would acquire a timeshare membership with which they would enter to a rent system, and in a few months they would get their investment back plus a profit.

In fact, the buyers were bamboozled with that rent system, they were told it was an intelligent investment to buy a timeshare at Grand Miramar, and this way the scammers kept asking for upfront payments and took thousands of dollars out of the victim’s credit cards, that money was transfer through the Bank of America.

Grand Miramar – The Hook

To hook the people – the Integral Corporate sellers – offered them a financial plan with a low interest rate, but when the buyers came back to the US, they noticed that their bank accounts were almost empty. It was an authentic swindle, said other scam victims by Grand Miramar like Steven, who was ripped off with 40 thousand dollars when buying 3 timeshares, and which promised rent profits never were delivered, even when he had to pay the VAT (IVA) in Mexico.

The costumers were also told that their timeshares were part of a high range rent system, that is to say, other vacacionists would pay big amounts of money and that money would be refund to the timeshare owners.  Other clients decided not to keep paying and received many threatening phone calls, and when they came back to cancel the contract, no one was able to solve their issue.

Gran Miramar – The Victims

Katherine Walsh, another victim, left her testimony in a website where hundreds of complaints against Gran Miramar were posted. “I’ve paid 43,900 USD in total to the timeshare resort Grand Miramar. They compromised to sell my timeshare at Playa del Sol Grand for 44,710 USD, but nothing happened. I tried to obtain a fax number and send the cancelled contract, but I got nothing”

One more victim, Mark T. Wilgus, told his bad experience in Puerto Vallarta with Grand Miramar. He said that on August 12th, 2010; he made a 5 hours tour in the resort. He was offered a 4 weeks a year membership.   He bought a property for 24,810 USD, and he was told that he would get his money back in a short period, but the days went by and he didn’t get anything.

In this fraud, the reputation of the Bank of America was damaged, since they were the ones that should’ve known that Grand Miramar was inducing the clients to buy a timeshare –through high pressure sales tactics– with the use of credit cards to finance the membership payment. The ones who got lucky were those who attended the timeshare presentation without buying, but they left the place very angry and upset, since the salespeople were very aggressive to them.

Grand Miramar – The lesson

Stories like this occur every day in Mexico; we see people’s faces but not their intentions.Timeshare industry salespeople are known for their aggressive sales tactics and insidious logic. If you were a victim of a timeshare scam by Grand Miramar, or anywhere else, don’t feel disappointed or hopeless. Contact Mexican Timeshare Solutions today for a free consultation on your timeshare issue.  We will solve your problem in a professional way, and we won’t charge any fees until your contract is completely cancelled.

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Grand Miramar – The Upcoming Player in the Timeshare Scam Industry

The companies that are involved in fraudulent timeshare sales in Mexico, change rapidly, and we at Mexican Timeshare Solutions are committed to informing travelers to Mexico about the newest perpetrators of timeshare fraud. Be aware of Grand Miramar selling practices so you don´t fall victim of timeshare scam on your next vacation to Vallarta.

We have been receiving more inquiries from timeshare scam victims who have purchased memberships at the Grand Miramar Resort & Spa, which is located in Puerto Vallarta, Mexico. Previously, we did not receive many inquiries about this resort, but they have obviously changed their sales tactics to try to sell more timeshare memberships. Unfortunately, they are using many of the fraudulent sales practices used by other resorts in the area to boost their sales, the most common being the rental or resale scams.

Grand Miramar is partnered with a few different resale and rental companies; however, the most recent one that they have been referring clients to is called High End Rentals. The Grand Miramar sales representatives assure prospective timeshare buyers that High End Rentals will sell their previously owned timeshare for a profit in order to cover the cost of the new membership. They also make false promises that they will rent out the new Grand Miramar weeks, so the timeshare can be purchased as a financial investment. These rental and resale promises do not come to fruition, and are one of the most common timeshare scams used to induce clients into buying timeshares that they would not normally have purchased.

The disturbing aspect with the Grand Miramar timeshare scams are the high ticket prices that the clients are paying for their fraudulent memberships. With most timeshare companies, the price of the timeshare ranges from a few thousand dollars up to larger amounts; however, with Grand Miramar, most of the memberships we have seen are over $25,000 US. As outlined on the Grand Miramar website, they claim to be a “a luxury development located high in the “Beverly Hills” of Puerto Vallarta, Mexico”. As a luxury property, they are able to attract affluent customers, who are good potential timeshare purchasers. Often their clientele already own high priced timeshares, so they are more likely to purchase at a higher ticket price when offered the resale of their old timeshare for a greater value than what they purchased. In addition, High End Rentals is charging clients several thousand dollars for the listing and transfer fees, a large increase over other rental and resale scam companies. Most Grand Miramar clients don’t realize upfront how much they are paying for this so-called service, because they are billed through Grand Miramar directly, yet another difference from previous resale scams where the client was informed to contact the broker after they were home from their holiday, and at this point were informed about the additional listing fee.

The other disconcerting trend that we have noticed with the Grand Miramar timeshare scam victims is the fact that most of them have paid their timeshares in full within a few months of their purchase. With other timeshare companies, customers typically finance their purchase and pay it off over several years. Obviously, the salesmen at Grand Miramar are aware of the fact that their clientele can afford to purchase a timeshare in full, or have good credit and can finance their purchase at lower rates through outside sources. This benefits the timeshare company, namely Grand Miramar, because many of their clients have paid off their $25,000 + memberships before even realizing that they were a victim of timeshare scam. In order to induce clients to pay, Grand Miramar has High End Rentals state that they give preferential treatment for the rental plans and resale of previously owned timeshares to the Grand Miramar owners that have paid in full. Until the client has paid off their membership, they will not receive the money for the resale of their old timeshare, or the rental income of their Grand Miramar weeks. Unfortunately, they are very convincing in enforcing this idea, and many clients end up paying off their memberships, only to realize later that the sale of their other timeshare will never go through, and they will be the owner of two timeshares with two corresponding maintenance fees.

Grand Miramar is very tricky in their timeshare scams, and even more recently, we have noticed that they are not issuing contracts on their own letterhead, but are now using the name “Platinum Access”. These clients are also referred to High End Rentals. When the clients have problems, they are told that both Platinum Access and High End Rentals are separate entities, and therefore Grand Miramar is not responsible. However, the name of the company that charged for the Platinum Access membership and the High End Rentals fees on the credit card slips is Grand Miramar.  This fact is an indication that these companies are all subsidiaries or affiliates of Grand Miramar.

If you have beenscammed by Grand Miramar or one of their timeshare companies in Mexico, please do not hesitate to contact us at Mexican Timeshare Solutions. We would be happy to consult with you to provide you free information on how we can resolve your timeshare fraudsituation.

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A little advise about timeshare