Related Articles

4 Comments

  1. 1

    Karl

    Liner: And the best part Tom and Mary is that after you have paid off your principle and interest over the next five years and then, when the time comes and you are done vacationing, you can will it to your children as your TS is part of your estate!

    Now all the kids have to do is continue to pay the annual maintenance fees every year for the rest of their lives plus any future special assessments that may be levied by the HOA, you know, for upkeep, insurance and to modernize things and they too can travel the world just like you for the rest of their lives and then pass it on to your grandchildren; and naturally, they can then pass it on to their kids and so on.

    It’s why we call it Endless Vacations Tom and Mary because it is for the whole families use and enjoyment for generations to come.

    Mary: Gee that sound great but over time won’t that get a little expensive?

    Liner: Great question Mary but I’m new here so I’ll have to ask my manager…

  2. 2

    Van_The_Man

    “One of the ‘would-be owners’ referenced in that report is a young and successful California real estate investor whose mom, now a widow, doesn’t vacation any longer and can’t afford to pay the annuals, etc. He told the writer that he is offering to give the timeshare way for free & before his Mom passes because: “I don’t want to inherit it” – “I want it to go away.”

    Scoop is right on the money, as usual. Let me offer a reality check direct from the trenches. Both my wife and I have done quite well since 2000–when RCI introduced Points–doing Power Point + Phone orientations giving Owners the option of staying with Weeks or converting to Points.

    But, when we made the mistake of contracting with a Resort to give Owners the option of converting their 40 year soon-to-expire lease to perpetuity and in a situation where it automatically renewed for year at at time at no cost, only 3.6% (worse than pitiful–which is extremely hard to “achieve” as you know) of Owners chose to go to perpetuity.

    Bottom line? When the parents (which parents of grown children usually do) had to “call the kids” to see what they wanted to do, 96.4% of them wanted no part of a fully paid off Timeshare: As in free. As in no cost.

    Two interesting reasons were given when we asked why–the second one being the real issue.

    1. The economy and not wanting responsibility for the annual M.F

    2. We could never get what we wanted anyway. We couldn’t get the dates we wanted, the size we wanted. I Why should we spend money for something that never seemed to work.

    No wonder there are 942,641 Timeshares available in the paper and on the internet. Many for next to nothing–and many, literally, for a penny

  3. 3

    Van_The_Man

    I don’t mean to belabor the point, but here’s an example that just popped up on my computer: Today’s date. 100% free. They must have read Scoop’s headline. “I Want It To Go Away!”, “I Want It To Go Away!”

    “We have a fully paid for RCI points membership to give away. We bought this several years ago and we have not used it. We paid nearly $13 500 for this membership and all we want is for someone to take it over. The cost of transferring the contract will be paid for by us so the new owner will be getting an annual 20 000 point membership for free”

    http://vacations.kijiji.ca/c-Other-Countries-Free-20-000-point-RCI-membership-W0QQAdIdZ423844894.

  4. 4

    Sally

    I love this business but get depressed when I sell a deal that my new owners will soon discover they can buy online at a fraction of the cost or that they can just rent the time from RCI etc.

    It really P***es me off that developer just stand idle with all the evidence and don’t adjust to market conditions.

    I guesss these days they are operating on the that idea that a sucker is born every minute; or one comes through the doors every minute.

Comments are closed.

Copyright InsideTheGate.com. All rights reserved.