Universal Timeshare Sales Assoc
I received a call today from UTSA about selling my points. He slowly and carefully 'explained' their processes and 'all' that they do to sell timeshares. He gave me all of the information, placed me on hold while he 'confirmed' an offering price from a Canadian family: they are willing to pay $199,000 for over a million points. The buyer pays the closing costs of $3,800. What we, as the sellers, are required to pay, upfront of course, is $80 for legal fees, $300 for a portfolio, $250 escrow, an RCI lawyer to represent us (yes, all that I have heard about 'RCI' makes me feel warm and fuzzy all over) at $570 and $600 for the transfer of deed - for a total of $1800. When I asked why upfront money was necessary he informed me they were not a licensed real estate office therefore cannot take commission after the sale. Every time I questioned him he said 'let me ask you a question, are you serious about selling your timeshare?' (asked no less than 5 times) I said, of course, I want to sell it but I'm not willing to throw away good money on a scam. He repeatedly tried to tell me they were an honest company, blah, blah, blah... he directed me to their website, pointed out the 'recently sold' area, pointed out the 'onlinebetterbusiness.com' (which states clearly they are NOT the better business bureau), etc. He said 'we are different', 'that's why we have you speak to our legal department' - well, unless your 'legal representative' comes to my front door with all of his graduate certificates in hand I don't know who the person is - I can call up anyone on the phone and say 'Hi, my name is Jane Doe, I am a lawyer with Universal Timeshares....' - well, I don't have a law degree of any kind but someone would accept what I had to say just because I said I was a lawyer. I explained several times that I will research and get back with him. When he argued that he had pointed out all these things online I told him, yes, but you are biased, I will do my own research and get back with you. The really funny thing about my research is all the RED FLAGS popped up from THEIR website:
- If I still have financing on my timeshare can I sell it?
Absolutely! The only stipulation is the pay off balance needs to be cleared before the property can change hands. For instance, say you still owe $5,000 on your timeshare, you will need to have that paid off before the deed can change hands. Usually this is handled at closing.
This wasn't mentioned during the phone conversation even though he had asked and was told we are still paying on it!!
- No hidden fees?
With commissions and appraisals eliminated, the only expense to the buyer, aside from the Purchase price, is the closing cost. The
only out of pocket expense for the Seller is the one time advertising fee.
Since HE called me and said he already has a buyer why in the world would I pay for advertising??
- Do I need a lawyer to handle the closing?
No! Universal Timeshare Sales Associates has a licensed and bonded title company. This company will handle the closing process from start to finish including
deed preparation, escrow of funds, closing statements and recording fees all for one low flat rate (closing costs) charged to the buyer. The title work is reviewed by attorney and guaranteed to be
free and clear to the seller.
Seems to me the 'buyer' and 'seller' are paying duplicate fees!!
Their write up for the 'sell' and 'rent' sections of their site are worded almost identical - the first sentence is different.
At the bottom of the page shows the 'official' looking information about the company and the website to include 'our services' and 'terms of service' - funny, there isn't a link anywhere on the site to click to read these.
When I called the 'agent' back to address the issues above he wasn't available so the woman 'took a message' - strangely he didn't call me back. Should I be offended??