VIN, Inc (2006 thread) [merged]

OK, I'm interested in selling my timeshare. vininc says they can get me a fair price for a commission of $599 or 15% of selling price, whichever is greater. If it doesn't sell no fees are charged. Timeshare Closing Services, Inc. of Orlando, Florida will handle escrow and closing. Has anybody tried using this outfit?

I haven't heard of them, but there are a lot of timeshare resale companies I haven't heard of.

The key is whether you have to supply a credit card or otherwise pay the $699 upfront, even though they might promise a refund if there is no sale. If that's the deal, run the other way as fast as you can.

If, on the other hand, all you have to do is sign a contract, agreeing to their commission to be paid out of the sales proceeds, go ahead if you want. However, there are lower cost resale sites around, although you'll generally have to do the negotiating before turning the sale over to a legitimate timeshare closing company, such as the one you mention.

For more on the practical aspects of successfully selling your timeshare without getting scammed (including by upfront-fee scams), see the "how to sell" article located at the top of the list of topics for this Buying, Selling, Renting forum. In the same place, there is also a list of resale companies that a number of TUGgers have successfully used and have recommended.

I have bought many timeshares from VI Network, which have all gone smoothly.

I have never sold through them.

I've also used them to purchase 2 timeshares -- one that just closed and another that I just purchased. No bad experiences with them yet. I found both of the timeshares that I purchased from them on ebay. I also liked dealing with Timeshare Closing Services.

Why not sell it yourself?

I have bought cheap timeshares on EBay from them. My impresion is that they don't get good prices. If you want to give it away do it yourself for free. If it is worth real money sell it yourself on EBay and use a closig company.

mamiecarter said:

I have bought cheap timeshares on EBay from them. My impresion is that they don't get good prices. If you want to give it away do it yourself for free. If it is worth real money sell it yourself on EBay and use a closig company.

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Thank you all for the replies and info.

How do they find timeshares to sell so cheaply?

kuphyman said:

vininc says they can get me a fair price for a commission of $599 or 15% of selling price, whichever is greater.

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Anyone who has looked at ebay timeshares has seen VININC timeshares for sale. They are sellers of a sizable percentage of ebay timeshares--maybe 10%?

mamiecarter said:

I have bought cheap timeshares on EBay from them. My impresion is that they don't get good prices. If you want to give it away do it yourself for free.

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Have you wondered how they acquire so many timeshares that they can sell at bargain prices?

I have bought a unit from them for a low price and the transaction was handled very efficiently. Not sure who they are, but they acquire and sell a lot of units.

Just to see who many units the transfer, go to any county website that is a popular timeshare location and search for VI Network in the public records. You might be surprised at what you find.

Below is link to the Eagle County website if you want to give it a try. Click on the "Access Documents" button and that will take you to documents search.

http://www.eaglecounty.us/cloe/

Gary

What is their ebay user name? VININC didn't work for me.

CaliDave said:

I have bought many timeshares from VI Network, which have all gone smoothly.

I have never sold through them.

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I ditto that. I had excellent experience with VI network and a number of employees as well as Timeshare Closing Services in Orlando.

These guys are MEGA-resellers--but who sells to them?

grupp said:

Not sure who they are, but they acquire and sell a lot of units.

Just to see who many units the transfer, go to any county website that is a popular timeshare location and search for VI Network in the public records. You might be surprised at what you find.

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See the links below to the Orlando vicinity county recorders (Orange County and Osceola County) to see how many VI Network has bought and sold, in Orlando alone. On Ebay they have units listed from everywhere of course, not just Orlando.

Nothing wrong with buying and selling at a profit, but just how do they get SO MANY units? Distress sales via resorts? Or do individuals approach them? If so, why don't they have a website?

Look them up on the Orange County, Florida recorder's website. Follow this link and select the option to view at least 500 records, as there were 438 transactions involving VI Network when I searched. Orange County Recorder

Or follow this link to the Osceola County, Florida recorder's office (use "Guest Access", then select "Documents Search" and "Search By Name".) Osceola County Recorder
Here you will see ANOTHER 500 recorded transactions by VI Network listed.

In Osceola County, on a single day-- March 23, 2006--VI Network was recorded as the grantee (buyer) in seven timeshare transactions, each recorded as bought for a bargain-basement price of just $100. That may have been a high-volume recording day for VI, but not the only one.

Where do get their inventory? And what do they tell people--and how much do they pay them--to get that inventory? They may be doing both buyers and sellers a service, as brokers often do. Without brokers, buyers and sellers might not find each other. And TUGgers clearly like their customer service and good prices.

BUT shouldn't we make sure that they don't get their timeshares at a bargain price by telling people how hard it is to sell timeshares -- and then turning right around and selling thousands of timeshares, to...people like us, who know that many (though of course not all) timeshare weeks are worth more than $100?

How did you find them?

kuphyman said:

OK, I'm interested in selling my timeshare. vininc says they can get me a fair price for a commission of $599 or 15% of selling price, whichever is greater. If it doesn't sell no fees are charged.

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How did you find vininc (VI Network)? Where do they advertise that they buy timeshares?

On their ebay ads, they indicate that if you have a timeshare that you'd like them to sell, to contact them. That's one way that they advertise.

I was directed to email Consult@vininc when I inquired of 43nanal on ebay about selling my timeshare. Then chad@vininc contacted me by email.

eBay Usernames

These guys go by 3 different names on eBay:

lanman34 (99.9% positive feedback with 2,795 transactions)

cybernaut34 (100% positive feedback with 1,985 transactions)

43namal (99.8% positive feedback from 2,211 transactions)

I have not yet bought anything from them but from all of the internet research I've done they look like the most reputable one to buy from on eBay. Their prices are VERY low. You can be a triennial 2BR lockoff at Vacation Village @ Parkway for $1. Transfer fees seem to be fairly low as well. I'm not sure how they are making any money for the people selling them. I guess the timeshares they sell are mainly from folks that are just trying to dump their timeshare.

Might also check these threads for more info/opinions:
http://www.tugbbs.com/forums/showthread.php?t=100348
http://www.tugbbs.com/forums/showthread.php?t=97162

VI Network, Inc. (Vacation Innovations, Inc.)

First let me make it very clear I have no affiliation with VI Networks, Inc or any of it's affilates. In fact I like many of you had never heard of VIN, Inc. prior to June 5, 2009. I have been retired for almost ten years and have never worked in the timeshare industry. Like you I do my homework both here on TUG as well as elsewhere.

VI Network, Inc. also known as Vacation Innovations, Inc. was the company that I chose to deal with regarding my purchases between June 6 and June 10, 2009. I highly recommend them as a seller of timeshare especially if your purchase is made on E-Bay.

I have not as yet used them as a Seller.

Like any prudent purchaser of Timeshare from an E-Bay Seller I did my due diligence and what I am sharing here you can consider a short-cut.

The following companies have their headquarters at 8545 Commodity Circle, Orlando, Florida 32819. It is a fixed location that you can get yours hands around. (For a picture of the HQ try the following link:

http://www.vininc.com/)

VI Network, Inc., aka Vacation Innovations, Inc. and Timeshare Partners.com are in effect the same company doing business at 8545 Commodity Circle, Orlando, Florida 32819. Here is a link to the BBB site where you can check out VI Network, Inc.: http://www.orlando.bbb.org/codbrep.html?wlcl=y&id=134612180&cons=y

Timeshare Closing Services, Inc. is an affiliated business as stated on the website of Timeshare Partners.com: http://www.timesharepartners.com/CONTACTUS/ABOUTTIMESHAREPARTNERS/tabid/1745/Default.aspx

When my interest was peaked as a Buyer I noticed many posts here on TUG and elsewhere asking where does VI Network, Inc. get their inventory and why is it so inexpensive. For insight as to how that comes about go to the links provided above and get what you want from the horse's mouth.

Before, I made any purchase on E-Bay I tried to communicate with different sellers to get a feel for how well they responded to my need for information about what I was buying. Through those communications (or lack thereof) I learned who I was comfortable dealing with. If you as a Buyer are not comfortable dealing with an individual or company simply DON'T DO IT!

So far I have purchased four groups of Wyndham points from Mike Saylor and his associates at VI Network, Inc and I would definitely do it again. They are great to work with and they follow through. If you have a problem with a purchase you will experience excellent customer service. The same can be said about the working relationship that I developed with Timeshare Closing Services, Inc. http://www.timeshareclosingservices.com/TimeshareClosingForm/tabid/1766/Default.aspx

Hope the above helps anyone considering purchasing in the Re-Sale Market.

Dave

Mike Saylor and VI Network, Inc

Just started my third purchase in 18 months, good price and I expect great service. Will post the time from payment to document recording.

Elapsed Time From Purchase To Recording of Deed

Based on recent experience it is reasonable to expect that VIN, INC and the Closing Company (TCS) will have your deed recorded between 14 and 21 business days after purchase. Of course there are a lot of variables that come into play and you as the Purchaser should be proactive in monitoring the timeline and reviewing the paperwork as soon as practical upon receipt.

As previously posted I purchased three Points Contracts and one Assignment & Assumption (A&A) Contract involving Wyndham Ocean Boulevard, Myrtle Beach, SC from Vacation Innovations (VIN, Inc.) between June 6 and June 10, 2009.

Timeshare Closing Services, Inc. (TCS) an affiliate of Vacation Innovations (VIN, Inc.) was required as the Closing Company by the Seller.

As to the deeded points you will find a record of the elasped time from payment to document recording at the Horry County, SC Courthouse below:

TCS has an agreement with Wyndham to send completed Deeds in a Batch once per week.

Based on handling, TCS definitely has a good pipeline for getting deeds recorded at Conway, SC where the Horry County Courthouse is located.

It is easy for a Buyer and/or Seller to independently confirm Recording Dates on line using Horry County's Website.

Once Wyndham receives a deed or A&A they allow 14 days for their Title Research Department to confirm the Deed and enter it into the Wyndham Computer. Based on my experience you cannot get a confirmation that Wyndham has received your deed until after their Research Department enters the data into the computer system and transfers the paperwork to the Wyndham Transfer of Ownership Department.

The time that it takes a Wyndham Transfer of Ownership employee to complete the transfer after it is entered into the computer is supposed to be 30 days or less. Based on my personal experience it took just a little over two weeks after Wyndham completed Research for TOA to recognize my ownership.

154,000 Points Elasped Time: 15 Business Days

June 06, 2009 154,000 point E-Bay Auction completed at 18:53 P.M. PDT
June 09, 2009 Electronically signed Contract E-Mailed to Title Company
June 24, 2009 Deed signed by Seller
June 26, 2009 Deed Recorded Horry County at 2:42 P.M. EDT
July 02, 2009 Deed Sent to Wyndham for Title Research & Transfer
July 06, 2009 Deed Received by Buyer
July 21, 2009 Wyndham Confirmed Deed in System and back from Research
July 30, 2009 Wyndham Confirmed Transfer of Ownership.
Aug 03, 2009 [154,000] Points Used toward booking of Myrtle Beach, SC July 24-Aug 5, 2010 (Used ARP) 154,000 points for 2009 probably will be deposited in 77K increments with RCI before December 30, 2009.

Note Wyndham Recognized Transfer of Ownership 29 Calendar Days after receipt of Deed


105,000 Points Elapsed Time: 20 Business Days

June 10, 2009 105,000 point E-Bay Auction completed at 18:36 P. M. PDT
June 12, 2009 Electronically signed Contract E-Mailed to TCS
June 19, 2009 Deed signed by Seller
June 25, 2009 Deed Recorded Horry County at 4:22 PM EST
July 02, 2009 Recorded Deed Received by Buyer
July 02, 2009 TCS notified Deed has Error found by Buyer
July 07, 2009 TCS had Corrected Deed signed by Seller
July 09, 2009 Corrected Deed Recorded Horry County at 9:41 AM EST
July 14, 2009 Deed Sent to Wyndham for Title Research and Transfer
July 17, 2009 Corrected Deed Received by Buyer
July 21, 2009 Wyndham Confirmed Deed in System and back from Research
(Estimated completion of Transfer according to Wyndham: August 05, 2009)

210,000 Odd Yr Points Elapsed Time: 11 Business Days

June 10, 2009 210,000 Point E-Bay Auction completed at 19:30 PDT
June 12, 2009 Electronically signed Contract E-Mailed to TCS
June 16, 2009 Deed signed by Seller
June 25, 2009 Deed Recorded Horry County at 4:16 P.M. EST
June 30, 2009 Deed Sent to Wyndham for Title Research & Transfer
July 02, 2009 Recorded Deed Received by Buyer
July 21, 2009 Wyndham Confirmed Deed in System and back from Research
July 30, 2009 Wyndham Confirmed Transfer of Ownership
Aug 03, 2009 [77K & 77K Points available for deposit into RCI (Leaving 56K for combination with
other points to use for internal exchange before 12/31/09]

Note: Wyndham Recognized Transfer of Ownership 29 Calendar Days after receipt of Deed

As to the A&A Contract Elapsed Time from Purchase to Sending to Wyndham is provided below:

210,000 Even Yr Points Elapsed Time: 19 Business Days

June 10, 2009 210,000 Even Yr Point E-Bay Auction completed at 19:30 PDT
June 12, 2009 Electronically signed Contract E-Mailed to TCS
July 06, 2009 A&A Contract Sent UPS to Buyer
July 07, 2009 Buyer Returned Contract via UPS to TCS
July 09, 2009 A&A sent to Wyndham Title Research Dept
July 21, 2009 Wyndham Confirmed A&A in System and back from Research
July 31, 2009 Wyndham Confirmed Transfer of Ownership (Points Available for 2010)
Aug 03, 2009 [105,000] Points Used toward booking of Myrtle Beach, SC July 24-Aug 5, 2010 (Used ARP) Balance of 2010 points planned for use at Myrtle Beach in late May 2010.

Note: Wyndham Recognized Transfer of Ownership 30 Calendar Days after receipt of Deed

Here's mine for Bonnet Creek so far:

166,000 Points

July 05, 2009 166,000 point purchase (direct from VIN) agreed on
July 07, 2009 Electronically signed Contract E-Mailed to Title Company
July 15, 2009 Deed signed by Seller
July 17, 2009 Deed Recorded
July 21, 2009 Deed Sent to Wyndham for Title Research & Transfer
July 23, 2009 Deed Received by Buyer

How do you confirm that the deed is in Wyndham's system and back from research, or is that something TCS notifies you about? I'd like to be able to calculate an anticipated completion date.

The two fixed weeks I bought from VIN on eBay were signed, sealed and delivered within 30 days. TCS was also the escrow company for both of my DVC resale purchases. I have nothing but good things to say about them.

Calculate Anticipated Transfer Date

How do you confirm that the deed is in Wyndham's system and back from research, or is that something TCS notifies you about? I'd like to be able to calculate an anticipated completion date.

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Contact Wyndham's Transfer of Ownership Department. They refer to it as the TOA department. The phone Number for TOA: 1-866-812-9798

Before you call have your Member Number and the specific Contract(s) Number that you are calling about. TOA should be able to tell you the date that the Deed(s) cleared Wyndham's Research Department. Unless TOA says differently you can reasonably expect that from the Date cleared/entered you should have notification of Transfer within 30 days.

Goofyhobbie said:

Contact Wyndham's Transfer of Ownership Department. They refer to it as the TOA department. The phone Number for TOA: 1-866-812-9798

Before you call have your Member Number and the specific Contract(s) Number that you are calling about. TOA should be able to tell you the date that the Deed(s) cleared Wyndham's Research Department. Unless TOA says differently you can reasonably expect that from the Date cleared/entered you should have notification of Transfer within 30 days.

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I don't have a member number or account yet since this is my first Wyndham purchase. I guess I'll have to wait it out or see if TCS can help.

Another VIN ebay seller is cybernaut 303, so there are four that I know of. Their web site is http://timesharepartners.com/, where all their properties for sale are listed. They will definitely negotiate.

I'll also provide my endorsement of VIN ... they've definitely treated me right!

jamstew said:

Another VIN ebay seller is cybernaut 303, so there are four that I know of. Their web site is http://timesharepartners.com/, where all their properties for sale are listed. They will definitely negotiate.

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I would hope they negotiate.... This bronze Grande Ocean is listed at nearly double the developer price (gotta be a mistake).....