Selling my Timeshare

[SteveV. Junior Member Find all posts View Profile Close SteveV.]

Hopefully one of you has had this experience before. I'm looking to sell my Sunterra/Diamond Intl. timeshare. I am a Club Member and have a total of 11,000 points acquired from 3 different Sunterra locations - Grand Beach, Powhatten, and Point Poipu in Kaui.
I was contacted by a salesperson from Premier Timeshare Vacations. They are offering to put my points up for sale, including my Club membership and an extra 6,000 unused points I rolled into next year for $44,000. They are asking for $1187 in fees for deed transfers and closing costs, etc. The salesperson claims there is a high demand for timeshares with the "Point" system like Diamond Intl. offers.
Has anyone ever heard of Premier Timeshare Vacations? Is selling my interest as easy as they make it sound? Sounds too good to be true.
How 'bout it Spence? You seem like the resident expert.

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

• Your club membership is not transferable.
• Your payment of $1187 upfront will get you nothing but heartache, Premier is an "upfront fee company" who will tell you that your interest will sell for $44,000 when, in fact, the street value on the resale market is less than $3000.
• Your best option is to read everything in this forum and learn how to use/enjoy your points

Hopefully one of you has had this experience before. I'm looking to sell my Sunterra/Diamond Intl. timeshare. I am a Club Member and have a total of 11,000 points acquired from 3 different Sunterra locations - Grand Beach, Powhatten, and Point Poipu in Kaui.
I was contacted by a salesperson from Premier Timeshare Vacations. They are offering to put my points up for sale, including my Club membership and an extra 6,000 unused points I rolled into next year for $44,000. They are asking for $1187 in fees for deed transfers and closing costs, etc. The salesperson claims there is a high demand for timeshares with the "Point" system like Diamond Intl. offers.
Has anyone ever heard of Premier Timeshare Vacations? Is selling my interest as easy as they make it sound? Sounds too good to be true.
How 'bout it Spence? You seem like the resident expert.

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

What Spence said. This is "too good to be true" because "it's too good to be real". A total rip off of over $1000. Can't say these guys are shy about big numbers. Don't do it.

[1950bing Senior Member Find all posts View Profile Close 1950bing]

upfront fees = money out of your pocket !
what you get for that = NOTHING

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

They'll take your money, list your timeshares on a website unreasonalbe prices and then you'll never hear from them again. They'll tell you what you want to hear but won't tell you the truth.

As Spence mentioned, your club membership is not transferable. I'm assuming you have deeded weeks and are not a member of the trust. If you are an owner in the trust then that changes things slightly but, the resale value doesn't change that much.

In short NEVER PAY AN UPFRONT FEE TO SELL YOUR TIMESHARE. It's a scam.

[falmouth3 Senior Member Find all posts View Profile Close falmouth3]

I'm not a club owner, but I listed my Orlando week for sale on bidshares. I got an email from a "mysterious" buyer. We signed a purchase agreement through a 3rd party and low and behold, it's Diamond buying the week back. I didn't know that they did that, but it appears that they do.

Sue

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

I'm not a club owner, but I listed my Orlando week for sale on bidshares. I got an email from a "mysterious" buyer. We signed a purchase agreement through a 3rd party and low and behold, it's Diamond buying the week back. I didn't know that they did that, but it appears that they do. Sue

It started last October and has been sporadic ever since.

[SteveV. Junior Member Find all posts View Profile Close SteveV.]

Selling my timeshare

Thanks for your opinions folks. These people at Premier are persistent though! I guess the fact that I didn't hang-up on them when they called, was reason enough to keep pursuing me. They've called about 4 times in the last 3 days. When I mentioned that my Club Membership wasn't transferable, the salesperson did sound surprised, but suggested that I could still sell my shares and the buyer could purchase their own membership. True I guess, but I'm still not willing to pay anyone upfront money. Perhaps they would be interested in a commission on the sale, similar to a RE Broker.
I am in the trust. So, perhaps that does mean something. I obviously have to pull out my contracts and become more familiar with what I own. Falmouth3 mentioned that Diamond bought their week back. Do they buy shares and memberships back as well?

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

Thanks for your opinions folks. These people at Premier are persistent though! I guess the fact that I didn't hang-up on them when they called, was reason enough to keep pursuing me. They've called about 4 times in the last 3 days. When I mentioned that my Club Membership wasn't transferable, the salesperson did sound surprised, but suggested that I could still sell my shares and the buyer could purchase their own membership. True I guess, but I'm still not willing to pay anyone upfront money. Perhaps they would be interested in a commission on the sale, similar to a RE Broker.
I am in the trust. So, perhaps that does mean something. I obviously have to pull out my contracts and become more familiar with what I own. Falmouth3 mentioned that Diamond bought their week back. Do they buy shares and memberships back as well?

Maybe Falmouth would share how much they bought back his unit/points for - as was stated, people felt your ownership was worth about 3K - are u okay with selling for such a small amount?
Or would you rather keep it and learn how to maximize your ownership?

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

Thanks for your opinions folks. These people at Premier are persistent though! I guess the fact that I didn't hang-up on them when they called, was reason enough to keep pursuing me. They've called about 4 times in the last 3 days. When I mentioned that my Club Membership wasn't transferable, the salesperson did sound surprised, but suggested that I could still sell my shares and the buyer could purchase their own membership. True I guess, but I'm still not willing to pay anyone upfront money. Perhaps they would be interested in a commission on the sale, similar to a RE Broker.
I am in the trust. So, perhaps that does mean something. I obviously have to pull out my contracts and become more familiar with what I own. Falmouth3 mentioned that Diamond bought their week back. Do they buy shares and memberships back as well?

You'd better pull out your paperwork because what you insinuted in the first post and what you said in this last post are different. Someone who knows DRI would assume that you had three separate contracts with deeds at GB, Powhatan, PP... now you say you have a Trust of which there are several.

Three individual deeds worth a total of 11Kpts would be next to worthless, a DRUSC Trust of 11Kpts could be sold for $2-3K, maybe more but not on eBay. The new owner of a Trust contract would have access to that Trust ONLY unless they pay $2995 more to DRI to re-join THE Club.

UFFCs do not do commissions, that's not what they are about and they often lie and say it is illeagle to work commissions!

PLEASE take an hour or so and read every post in this forum. PLEASE take your paperwork out and read it.

[falmouth3 Senior Member Find all posts View Profile Close falmouth3]

I sold my floating week for $895. I saw a number of similar units selling on ebay within the last year for under $300, so I thought I did pretty well. Based on your numbers, I didn't.

Sue

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

It started last October and has been sporadic ever since.

The also have a direct buy back program. Some of the Polo Towers owners were contacted and others at Polo Towers have contact DRI. Not every employee at DRI seems to know about this or how to get to the correct dept. The information was posted in the Western forum OY.

Originally, the offer was $7,500 for 2 bedroom units. The last I remember seeing it had been seriously downsized to around $3,000 or somewhere in that neighborhood.

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

You'd better pull out your paperwork because what you insinuted in the first post and what you said in this last post are different. Someone who knows DRI would assume that you had three separate contracts with deeds at GB, Powhatan, PP... now you say you have a Trust of which there are several.

Three individual deeds worth a total of 11Kpts would be next to worthless, a DRUSC Trust of 11Kpts could be sold for $2-3K, maybe more but not on eBay. The new owner of a Trust contract would have access to that Trust ONLY unless they pay $2995 more to DRI to re-join THE Club.

UFFCs do not do commissions, that's not what they are about and they often lie and say it is illeagle to work commissions!

PLEASE take an hour or so and read every post in this forum. PLEASE take your paperwork out and read it.

If he is in the Trust and wants out it could be pretty simple. Just miss a payment and they'll cancel your membership. Of course you won't get anything for your ownership but you'll be rid of your timeshares.

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

Devbuyback

Here's a link to the TUG thread with the DRI buybuck program informtion. You'll have to do a little reading but someone finally tracked down the contact information for devbuyback. Perhaps they'll be interested in taking back what you own for a reasonable amount.
Any Las Vegas Polo Towers owners received an offer to repurchase? - Timeshare Users Group Online Community Forums

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

Here's a link to the TUG thread with the DRI buybuck program informtion. You'll have to do a little reading but someone finally tracked down the contact information for devbuyback. Perhaps they'll be interested in taking back what you own for a reasonable amount.
Any Las Vegas Polo Towers owners received an offer to repurchase? - Timeshare Users Group Online Community Forums

This has all been discussed on TS4Ms!
http://www.timeshareforums.com/forum...timeshare.html

In regards to pricing, a new development appears to be that they are offering better devbuyback offers to retail buyers than they are to resale buyers for the exact same property!!!!!!!