Signs of a Good Buyer.

[rkjohnson32]

I officially became a TUGGER today. I have been looking through threads and forums over the last week and I decided to join. Thank you fellow timeshare owners for offering such good advice. I wish I would have found this website before I purchased our timeshare, but also during my ownership years. So thank you all for the information.

I have owned my timeshare for 5 years and I am ready to sell it. I plan on listing my timeshare in the TUG marketplace after I receive some guidance. My question is How do I know if I even have a real buyer? I have read to expect various scam artists to contact me, which I think I am ready for, but how do I identify if someone is legit?

Thank you fellow tuggers.

RJ

[DeniseM]

Anyone who wants YOU to pay THEM some kind of upfront fee is a scammer - it doesn't matter what they call it - you should never pay the "buyer" any kind of fee.

Have you researched the ACTUAL resale value of your timeshare? - sadly, most are selling for 0-10% of retail.

Right now on eBay I see 3 listings for Cibola Vista - with no bids.
$1
$1
$15
http://www.ebay.com/sch/i.html?_nkw=...mpt=Timeshares

The last 4 that sold on eBay, sold for $1.

[rkjohnson32]

Yes I plan on listing my for .01. Everything is paid and up to date. I also see there is one for sale in the marketplace. They are unfortunately unrealistic about the value is of their timeshare. The place is actually really great, but it is time for me and family to move on. But the last thing I want is to get scammed. And I guess I was wondering how the "typically good buyer" is recognized. Thanks Denise.

[DeniseM]

There are fees to sell it on ebay, plus you have to jump through some hoops to register to sell real estate - why not offer it in the TUG Bargain Deals Forum which is FREE?

Why?
-You can give it away yourself for nearly no cost.
-You can control the transfer process to make sure it is truly transferred out of your name.
-You won't have to deal with companies that may or may not be Legit.
-You can transfer it to a private individual who will be happy to have it for their own use.
-You will have the satisfaction of knowing that you ended your ownership legally and ethically.

There are TWO places on TUG where you can give away your TS's for free (no charge for the Ads.) THEY ARE COMPLETELY DIFFERENT - SO YOU SHOULD POST IN BOTH AREAS. There are other cheap and free sites on the internet, as well.

TUG Marketplace - the only cost is your TUG membership - $15 (List it for $1 and it will automatically go in the Bargain Basement Ads.)

Bargain Deals - Totally FREE! - just write a simple post with all the pertinent info. In your post, include the following info.:

-resort name
-unit size
-season owned
-maintenance fee
-current reservations

To make it more attractive I would:

1) Pay the 2012/2013 maintenance fees and don't ask for reimbursement.

2) Pay for the title transfer (you can get a simple title transfer with no escrow or title search for about $100.) Many Tuggers (including me) have been using Legal Timeshare Transfers, a no frills document preparation company, and they are receiving good reviews on TUG.:

Legal Timeshare Transfers/Ready Legal
Lisa Short and Mary Pless
http://legaltimesharetransfers.com/
1.706.219.2709

3) Reserve a popular holiday week in 2012/13 for the new owner

4) Instead of paying a fee to a rescue company - consider offering a cash incentive to the new owner.

5) Here is the very important step that most people miss: Come back to TUG once a week and add more info. to your thread - this will bump it to the top of the page.

Good luck!

[rkjohnson32]

Thank you Denise. This is the route I decided to go with all the research I have done over the past week. Thanks again.

[rkjohnson32]

Is there any more advice on recognizing a real buyer?

[Saintsfanfl]

Originally Posted by rkjohnson32

Is there any more advice on recognizing a real buyer?

What does it matter? Why would a "fake" buyer want a timeshare in their name? All you have to worry about is not paying money for someone to take it. Offer non-payment incentives like free closing and prepaid fees. If someone is willing to accept the transfer that's all the evidence you need.

[RX8]

Originally Posted by rkjohnson32

Is there any more advice on recognizing a real buyer?

You are giving it away so i think what you are really concerned about is if they follow through with the transaction.

An individual must be pretty demented and have a lot of time on their hands to string along a timeshare seller for the fun of it....that is unless they are setting you up to be scammed by eventually requesting YOU send THEM money.

I wouldn't worry about who is a "real" buyer and who isn't. Find someone interested and start the transfer process. You might have someone get cold feet and back out but that could happen with any transaction.

Added: I saw your bargain ad and I just wanted to say that you did an excellent job of "selling it." I wish you luck in giving it away quickly! Too often I see ads that start "I need to get RID of this!" or "fees keep going UP and I can't afford this." or "I was scammed and don't want it anymore." Reading those, I get the same feeling I do when my wife takes a bite of a piece of food, makes a weird face, then pushes the fork to my mouth and says "I think this is bad, try it." Ummm, I think I'll pass....

[DeniseM]

Originally Posted by rkjohnson32

Is there any more advice on recognizing a real buyer?

Be sure that you are in control of the transfer process (choose and pay for the closing yourself) so that you are sure it gets legally transferred to the new owner. Then follow up with the resort, to be sure it's recorded in the new owner's name. If you trust them to handle the closing, it may never get transferred - leaving you fully responsible.

[rkjohnson32]

Thank ya'll much. Appreciate the feedback.

[rkjohnson32]

Thank you.

[LannyPC]

Originally Posted by rkjohnson32

I have read to expect various scam artists to contact me, which I think I am ready for, but how do I identify if someone is legit?

Watch out for replies with bad grammar and spelling. Some often used replies from scammers and spammers are "Nice property. Still available?" "We are oon our honeymoon..." "We are representing corporate clients who are looking to buy blocks of timeshares.", etc.

Also be aware of ones who offer you more than what you're selling for. They will then ask you to send them the difference back.

Legitimate offers will likely come via e-mail through the account you've set up with the listing site. If you get a phone call, be very suspicious.

[Rent_Share]

I disagree about the phone call

A genuine buyer will be excited and have questions about the property, and reservation process

A scammer will be vague, no real interest in the unit and can be ytripped up by changing a couple of material details location/size. Their entire effort will be proving themselves "legitimate" with all these layers of professionals

[geekette]

Originally Posted by LannyPC

Watch out for replies with bad grammar and spelling. Some often used replies from scammers and spammers are "Nice property. Still available?" "We are oon our honeymoon..." "We are representing corporate clients who are looking to buy blocks of timeshares.", etc.

Also be aware of ones who offer you more than what you're selling for. They will then ask you to send them the difference back.

Legitimate offers will likely come via e-mail through the account you've set up with the listing site. If you get a phone call, be very suspicious.

I disagree somewhat here.

Even legit buyers can have bad grammar or spelling! And it is not a far stretch to think about a honeymoon couple landing in paradise and wanting to go back time and again.

And phone calls - those should be welcomed and expected. Plenty of people will not rent from an owner without a phone conversation and I see no reason why a buyer would be less likely to want an actual conversation.

Phone calls from "organizations" are almost always suspicious but when you put up an ad, you must expect contact.

[DeniseM]

You should not put your phone number on the internet, unless you'd like to receive lots of unsolicited sales calls. You should only share your phone number after having an internet conversation first. Consider calling them the first time, and block your number (*67.)

[csxjohn]

Originally Posted by DeniseM

You should not put your phone number on the internet, unless you'd like to receive lots of unsolicited sales calls. You should only share your phone number after having an internet conversation first. Consider calling them the first time, and block your number (*67.)

I never put my phone number in any of my TS ads where ever they were. Once I get a reply that sounds egit, I exchange numbers and then use email and the phone if needed.

I "sold" a unit on the bargain deals forum and never spoke to the fellow Tugger who took it.

If you use a firm like Legal Timeshare Transfers,a purchase agreement will be needed so all parties understand who is paying for what.

As mentioned above, about the worst that could happen is that the buyer backs out before the deed is transfered, as long as you don't send any money to the buyer. It still amazes me that people really do this.

[csxjohn]

Originally Posted by geekette

I disagree somewhat here.

Even legit buyers can have bad grammar or spelling! And it is not a far stretch to think about a honeymoon couple landing in paradise and wanting to go back time and again.
...

What geekette says is true but this is an example of an email I got yesterday in response to an ad I have on Craigs List. It has the grammar and wedding in it.

"Hi, Happy new year. Joseph Edward by my name, i am checking to see if your place are still available in Feb. 22-23 2013 for our wedding ceremony or let us know your availability. Kindly Email me back to inform my wife and let me know your price for 2days and It's only 5 people. I look forward to your email.

Thanks in Advance...

Joseph"

This would sound very suspicious to most Tuggers if it were in response to an ad to rent out my timeshare.

In fact, it came from an ad I have offering to buy a timeshare in Daytona Beach Shores. That makes it more ridiculous

Not all responses are this obvious but if you read them through a few times you will be able to reject many fakes.

[DeniseM]

Look for "foreign" spelling and conventions. The use of the word "kindly" is almost always a red flag, because it is not commonly used in America.

"Kindly get back to me at your earliest convenience."

[Rent_Share]

I was lucky enough to sell mine for around twice what the recording and resort transfer costs were.

Based of the brevity of the initial craigslist response, I was abrupt and almost competely blew off the buyer.

The bottom line is that after communicating with the buyer on the phone, (he even drove out to the property to look at the location/units (<50 miles)) he sent me 1/2 of the funds up front.

I controlled the recording and resort transfer personally and eventually (~ 2-3 weeks) I received the remainder of the funds

[ronparise]

a "good" buyer is one whose check clears

[DeniseM]

The OP is giving his TS away for $1.