scammers still alive and well - NO UPFRONT FEES FOLKS!

http://www.consumeraffairs.com/news/timeshare-resale-scam-still-claiming-victims-041014.html

Six scammers just arrested in florida for scamming approx 350 people out of $753,000

It's mind boggling why a timeshare scammer would operate in Florida, although other states are slowly catching up.

The sentence on a timeshare purchase being only an RTU with an expiration and not a purchase of real property is inaccurate.

A suggestion to eliminate scammers ???

Every time we're asked for feedback at a resort on how the company can improve our overall timeshare experience, we always suggest "INSTITUTE A BUY-BACK PROGRAM." If there were such a program at resorts there would be less of a reason for the existence of scammers with their upfront fees and/or "Viking ship" ploys. Conditions for a buy-back program could include such requirements as having paid off the timeshare/points package with MF's up to date, having owned the timeshare/points package for a specific number of years, etc. Would buy-back programs be a viable solution for an exit strategy in most cases?

The problem with buybacks in my mind is who exactly is doing the buyback? The developer or resort management is doing the initial sale but then the ownerships are deeded and the HOA is somewhat in control. Buying back helps out the owner that needs out but then who takes the loss or generates the profit from managing the buyback? Usually if an owner can't get out then the buyback creates expense that would have to be absorbed by the other owners. Nobody is lining up to take on the liability of another. Resorts or Developers that take buybacks usually do so because it is financially in their best interest.

IMHO a buy back program would clearly be in about everyones best interest and would force upfront fee scammers to more lucrative endeavors after publicity! Likewise, when word got out PCC guys would move on as no knowledgeable person would pay them when ?????? will give owner few bucks for.

The problem is who will unwrite. Clearly HOA, which is us owners, does not have the expertise, time, inclination and resources.

So, by default it has to be Developer. As we all know, one seldom purchases a new virgin TS. Once it has been slept in, it is used.

But, developer has to establish a difference in his "brand new superior units" and owner used unit to justify his price.

This is done by impairing value of used merchandise. Like Wyndham, no VIP bennies or Plus Partner, others no day use, others extra fees, restricted booking parameters, etc.

No matter how you slice it when Developer sells $200K condo for $2 million, like tulip bulbs at some point like touter of older bladder buster beer stock for $10 a share when company is virtually bankrupt(out of alcohol) there are no buyers just belated sellers

Just take property taxes on $200K condo are very ball park $1, 000-$1,200 while if a 2 million dollar TS $2,500 to $3,000.

While I am over simplifying since current sales model is working no change on horizon. However, appears to be a significant increase in rescissions which at some point will force Developers to rethink as resale info becomes more readily available.

Major retailers have bargain basements, outlet centers, 1/2 price racks , etc. that allow to get rid of impaired merchandise without tainting image. Limited selection but if right for you, go for it!