Article warning about possible scam with Timeshare Express Services...

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

CBC News - Consumer Life - Timeshare slump sparks scam

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

I reported these guys for Do Not Call violation today

I've been taking detailed notes of every ding dong who calls me about selling or renting my timeshare for the last few weeks. I've warned each one that I'm on the Do Not Call list and their call is in violation. They all panic and quickly promise to remove me from their lists, so they obviously know they're not supposed to call me.

So far, the only one foolish enough to call me after my warning was Timeshare Express. They got reported today. The individual fine is up to $16,000.

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

(I just received a copy of the documents for this "company"... Their business model is that they call out of the blue and tell you they have a "preapproved" buyer for your ownership.. The price they offer is far above what the market will bear - and also normally far more than the developer is currently selling the same ownership type for as well!.. The telemarketer will tell you that they are a "loan officer" and that they only get paid from a kickback when the loan closes, so there is "no commission" to the seller. They then tell you that you have to "prepay" registration, closing, and title fees which you will get back "when the sale closes".. These fees always seem to be a different number ending in 50, but reports have them ranging from $1,450 up to $2,850. The specific one I'm looking at is $1,850. (A title search for a timeshare property normally costs approx $50 to $200. depending on where the resort is located, and this fee is paid as part of the closing process out of escrow!))

Timeshare Express documents include the following wording. (The comments in parenthesis are mine!)

Timeshare Express Services
110 W 9th Street #688 Wilmington, DE 19801
Local 302-724-6093 Toll Free 877-898-5715


Service(s): Continuous Rental (In other words, they told you they have a buyer- but the credit card authorization form they ask you to sign somehow forgets to mention that!).

I Understand Acknowledge the Following:
Timeshare Express Services is not a real estate broker. Our services involve the pooling of marketing resources with those of other renters and sellers to maximize exposure of our clients..... (In other words- the offer you thought you had wasn't really an offer.. They are not a licensed brokerage and therefore, do not sell any timeshares!..)

Timeshare Express Services assists our clients to rent or sell their property without a commission... (Of course not! They've already admitted that they aren't a licensed brokerage- and since they don't sell anything they can't charge a commission!)..

We are not an appraisal company; as such, the sale or rental price of the timeshare property is set by the owner... (This is here because now when you complain that they told you they had a buyer at a certain price- they'll point to this and say that the agreement you signed clearly states that you picked the price yourself!)

Timeshare Express Services will forward all inquiries directly to the client, so they may negotiate the sale or rental of their timeshare without the involvement of a ny broker.... (Wait a minute.. Didn't someone just call you out of the blue with an offer from a "preapproved" buyer! This statement says that any offers you may get are sent directly to you so you can negotiate with the buyer yourself.. That doesn't make sense! And you have to wonder what they have against brokers from New York..)

I/We also understand that Timeshare Express Services makes no representation on how long of time frame it takes for my unit to rent or sell.. (Didn't someone just tell you they had a buyer ready to close? But you are being asked to sign a credit card authorization form that says no such representation has been made!)

In the event of a dispute of services I/We will enter into in-house arbitration whereby my registration of services will be reviewed.... (Ok.. I think I understand this.. If you complain or say your were cheated by Timeshare Express Services- an employee of Timeshare Express Services will be picked to review your complaint and decide what to do.. Makes perfect sense if you live in a sanitarium!)


Nobody with any sense should fall for this scam! If after reading this, you still think that maybe- just maybe- it's an actual offer from a real buyer.... Do yourself a favor.. Send me a private message and I'll have an actual licensed real estate associate contact them on your behalf.

If they do have a ready and able buyer- requesting that a good faith deposit be submitted to a true escrow account and that the buyer sign a contract to purchase (which states that the deposit is forfeit to you the seller if the buyer later defaults) is extremely reasonable.. I'd recommend you ask for a deposit equal to 10% of the purchase price! Once the deposit is held and contracts are signed, you can then proceed with your sale... Quick, easy, painless, and most importantly- Protected from the Scam!