Postcard companies doing deedbacks

[Carolinian Super Moderator Find all posts View Profile Close Carolinian]

What happens to weeks that people pay about $3,000 for a postcard company to take off of their hands?

Often they simply deed it back to the HOA, something the original owner could have done themselves MUCH cheaper.

Looking at one postcard company, Timeshare Solutions, LLC, on conveyances for the last year on the North Carolina Outer Banks, out of 12 total weeks they deeded out, 4 were deeded to individuals and 8 were deeded back to HOA's (2 to OBBC, 5 to BIS, and 1 to Seascape).

What a scam!

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

That really stinks!

For people who are contemplating using companies like "Timeshare Solutions" or other 'post card companies' PLEASE contact your resort first and ask them if they will accept your deed back!

or
List it as a FREE giveaway on this site.

These companys really rub me the wrong way!

[timeos2 Senior Member Find all posts View Profile Close timeos2]

Don't even consider a Post Card Company

At our resort we plan to have an article in at least every other newsletter in a highlighted box to say something like:

Timeshare Relief or Owner Rip-off?

It has come to the attention of the Board that (you can guess the resort name) owners are being solicited to attend meetings regarding the “disposal” of your timeshare week. The contact is usually by a post card inviting you to attend a seminar at a local hotel. Once there, you are presented with an extremely negative view of timesharing. They then offer to “relieve” you of the “burden” of timeshare ownership by paying the company $3,500 or more TO TAKE YOUR OWNERSHIP!

PLEASE be aware that there is no need to pay someone to take your valuable ownership. These companies collect up to $3,500 or more from the owners and then turn around and resell the timeshare themselves for even more profit.

We urge all owners who feel they must sell or otherwise dispose of their (guess again) ownership to contact the resort prior to paying anyone to advertise the sale or worse paying someone to take that ownership. There are options for the owners that do not require thousands of dollars out of your pocket to be “relieved” of your week(s). Do not fall prey to these scams.

Contact the resort for information at (email)and see our message to owners at (website).

Hopefully we can help stop this outrage against owners.

[shopgirl Senior Member Find all posts View Profile Close shopgirl]

John, you are always on top of the game at your resort. I am so glad to see that Cypress Pointe is going to take a stand against the postcard companies. I have seen so many weeks from your resort listed and sold by these guys. This will put a real dent in their profit. If every resort would take the bull by the horns and offer deedbacks or give owners options for selling, this would no longer be big business. I would love to see these companies go away.

I propose that everyone here and OY contact your resorts about these companies and offer to advertise weeks for free on both of these sites for your own resorts. Or you can do this for the individuals who cannot use their ownerships. Be the contact person for your resort! Have this put in every newsletter!

Even big companies like PAHIO would benefit greatly from telling owners not to be taken in by these companies. PAHIO pretends to have ROFR, but in actuality, they do not have it in most cases. If they would just stop the postcard companies, the value of the resales would increase. The postcard companies have really affected value. Of course, that could hurt those who are wanting to purchase cheap weeks, but perhaps it can be done through the resorts themselves.

I think I am rambling. Spence always loves it when I ramble.

[gjw007 Member Find all posts View Profile Close gjw007]

Even big companies like PAHIO would benefit greatly from telling owners not to be taken in by these companies. PAHIO pretends to have ROFR, but in actuality, they do not have it in most cases. If they would just stop the postcard companies, the value of the resales would increase. The postcard companies have really affected value. Of course, that could hurt those who are wanting to purchase cheap weeks, but perhaps it can be done through the resorts themselves.

Unfortunately, many timeshares companies have ROFR (including OLCC) but many don't exercise it unless they are in need of specific units. One example is 3-bedroom unit sometimes get ROFR but not others. The information on these 'postcard' companies is interesting and in many cases, sad. They would not exist if the industry didn't have some a bad reputation with many individuals.

[JudyS Senior Member Find all posts View Profile Close JudyS]

What happens to weeks that people pay about $3,000 for a postcard company to take off of their hands?

Often they simply deed it back to the HOA, something the original owner could have done themselves MUCH cheaper.
..

What really amazes me is that I often see these postcard companies selling MROP shares (Multi-resort Ownership Program; it's run by VRI/ORE.) The thing is, MROP shares are NOT real estate -- they are a share in a corporation. You can give MROP shares back to the MROP corparation just by send them a letter saying you don't want your share anymore, no deed required.

Steve, one thing I wonder is why Timeshare Solutions even shows up on the conveyances. I thought those companies generally don't take possession of the property; they just get a power of attorney.

John, putting that notice in the HOA newsletter sounds like an excellent idea.

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

What really amazes me is that I often see these postcard companies selling MROP shares (Multi-resort Ownership Program; it's run by VRI/ORE.) The thing is, MROP shares are NOT real estate -- they are a share in a corporation. You can give MROP shares back to the MROP corparation just by send them a letter saying you don't want your share anymore, no deed required.

Steve, one thing I wonder is why Timeshare Solutions even shows up on the conveyances. I thought those companies generally don't take possession of the property; they just get a power of attorney.

John, putting that notice in the HOA newsletter sounds like an excellent idea.

It's quite simple, it is ILLEGAL for a third party to provide a service of real estate to two other parties unless they are licensed to do so. There are a few exceptions, but those exceptions do not allow for the volume that these post card operators handle.

By doing a double simultaneos closing and recording a deed from the original seller to the ebayer and then 10 minutes later from the ebayer to the buyer, then it's legal. It's call the timeshare flip with extended escrow.

[Carolinian Super Moderator Find all posts View Profile Close Carolinian]

Postcard companies handle title different ways. Some do use the power of attorney method. Timeshare Solutions is one that is easy to watch since they take the title themselves. Some set up seperate companies to take title.

What really amazes me is that I often see these postcard companies selling MROP shares (Multi-resort Ownership Program; it's run by VRI/ORE.) The thing is, MROP shares are NOT real estate -- they are a share in a corporation. You can give MROP shares back to the MROP corparation just by send them a letter saying you don't want your share anymore, no deed required.

Steve, one thing I wonder is why Timeshare Solutions even shows up on the conveyances. I thought those companies generally don't take possession of the property; they just get a power of attorney.

John, putting that notice in the HOA newsletter sounds like an excellent idea.

[JudyS Senior Member Find all posts View Profile Close JudyS]

Thanks for the info on the OBX closings, Steve.

It's quite simple, it is ILLEGAL for a third party to provide a service of real estate to two other parties unless they are licensed to do so. There are a few exceptions, but those exceptions do not allow for the volume that these post card operators handle.

By doing a double simultaneos closing and recording a deed from the original seller to the ebayer and then 10 minutes later from the ebayer to the buyer, then it's legal. It's call the timeshare flip with extended escrow.

I know it's illegal for eBay sellers to act as real estate brokers without a license, but my impression is that quite a few of them do so anyways. I bought a timeshare off of eBay where the deed was transfered to me directly from someone that I'd never heard of. I'm not sure where the seller got the timeshare and whether they were a postcard company or not. I wonder what happens if state real estate commissions get wind off these sellers on eBay.

I guess Timeshare Solutions may be one of the ones who does things legally.

[T. R. Oglodyte Moderator Find all posts View Profile Close T. R. Oglodyte]

I bought a timeshare off of eBay where the deed was transfered to me directly from someone that I'd never heard of. I'm not sure where the seller got the timeshare and whether they were a postcard company or not.

That's where the power of attorney comes in. The entity that lists on eBay is acting on behalf of the seller. That makes them not a broker.

When we bought our Pahio week, the deed transfer was not signed by the owner, but by Holiday Group's closing service, acting on behalf of the owner via power of attorney. Thus, the transfer was principal to principal, and Holiday was not a broker.