has anyone heard of Timesharesonly.com

[lily1]

I want to sell my timeshare. Is this a reputable company?

[copper]

Originally Posted by lily1

I want to sell my timeshare. Is this a reputable company?

They charge a rather large upfront fee and if by chance they do find a buyer they charge the buyer a $1000 buyer fee. If the buyer objects then they pound on the seller to pay the 1k in addition to the commission and already paid upfront fee. Not a bad place to buy if the price is right but I would never use them to sell.

[Dave M]

Before you spend as much as a dime in connection with trying to sell your timeshare, please, please, please read and study the "how to sell" article located at the top of the list of topics for this Buying, Selling, Renting forum. It contains info that should help you successfully sell your timeshare without getting scammed. (TUGgers believe that asking for an upfront fee from you in your effort to sell your timeshare is a scam.)

[rickandcindy23]

Your week will sit on their website forever.

We are actually buying a PAHIO @ Shearwater from this site and bought it for a great price. Unfortunately, the seller paid a lot of money to list the week and ended up selling it for much less than their listed price. But they did take our price because they paid to list it there and obviously just wanted it sold. I feel badly for the seller that they were taken in by this awful company.

Their process for selling is not great either. It takes up to five months for a closing, which is so much longer than Timeshare Transfer takes to close a property. Communication is a problem with them. They do not get back with their buyers quickly enough and are not persistent in matching buyer with seller. They also charge too much for closing costs. I figured those costs within my offer to purchase, so the poor seller would have made much more money just listing on Redweek than they made going through a third party. I do not get to talk to the seller, which I find somewhat annoying.

Edited to add: The company is GMAC Real Estate and I now have a low opinion of them. Also, they have about a dozen listings on their site for Shearwater but really only had one listing. So they basically make up some to appear as if there are lots of properties. Such a scam!

[Kelsie]

DON'T DO IT! We did before joining TUG and paid them $500.00. They did obsolutely nothing. We did sell our ts here on TUG. We learned a very valuable lesson, we paid too much and sold for less.

[Bill4728]

Timeshareonly is one of the biggest TS resellers. BUT, that doesn't make them good!! They charge a large up front fee, charge your buyer a finders fee and give you no help in pricing your TS.

So you can list a TS with them for $5000 and then find that they have 6 other listings for the same TS for $3000. Do you think you'll sell yours for $5K?

[m61376]

Interesting comments on GMAC real estate. We were looking to buy a Marriott (and hopefully we just did as long as we get through ROFR :-)) and I had spoken to a GMAC agent about one of their listings. He wanted a $500 deposit before he'd make an offer to the seller, insisting that it showed good faith; they were the only one I dealt with that wanted money before even negotiating an acceptable deal. I had heard they were a good company, but I was reluctant to deal with them and decided to continue looking elsewhere.

[Dave M]

Part of the problem is the name. GMAC Financial Services is part of the General Motors corporate group and is respected. However, GMAC Real Estate is unrelated to the General Motors entity.

You can be sure that GMAC Real Estate picked its name intentionally to establish credibility. My guess is that the confusion is intentional.

[Bill4728]

GMAC reality is a franchise name not a single company. Just like Century21, ERA or ReMaxx or other reality companies. TimeshareOnly is run by a franchised owner and should not be judged, good or bad by the GMAC name.

[rickandcindy23]

Originally Posted by m61376

Interesting comments on GMAC real estate. We were looking to buy a Marriott (and hopefully we just did as long as we get through ROFR :-)) and I had spoken to a GMAC agent about one of their listings. He wanted a $500 deposit before he'd make an offer to the seller, insisting that it showed good faith; they were the only one I dealt with that wanted money before even negotiating an acceptable deal. I had heard they were a good company, but I was reluctant to deal with them and decided to continue looking elsewhere.

This is the same thing that Timeshares Only, also GMAC, did. They charged my credit card before presenting my offer. I see why they have to do it. They have to have a concrete offer, or it is just a game for some people.

They are still not a good company, don't get me wrong. They cheat sellers and do not present all valid offers. Spence here on TUG made legitimate offers, many at once and was willing to give a credit card to secure his offers, but they refused his business because they believed he was not serious. That is not looking out for the seller. But what do they care, if they get money from the seller for the listing? There is not much motivation for them to sell.

As I said before, they show many, many listings for Shearwater but really only had one, which is not ethical in my mind. I was told that some of the listings were probably already sold, since most of the sellers did not answer Bobbie's calls.

There are several websites in which they list the same weeks. I found another website that looked identical to Timeshares Only. I think that is bad news, when you think you are dealing with another company but it is just the same old people.

Who sells the properties on Vacation Register? Maybe it is the same. I don't know for sure, but I do know there are alot of listings on that site, also an upfront fee company. I tried to make my offer to them for Shearwater and they did not have anything for me. I would say they do not care about submitting offers at all, and I am a Realtor. Ethics is something these companies don't get.

[danfinkel]

Originally Posted by Kelsie

DON'T DO IT! We did before joining TUG and paid them $500.00. They did obsolutely nothing. We did sell our ts here on TUG. We learned a very valuable lesson, we paid too much and sold for less.

The thieves who work from this scam are going to steal $500 from you. Don't ever expect to sell or resell your timeshare for this company. They don't care about you. Better, try to negotiate with the company who sold you the timeshare. Most of the times they are interested in buying your timeshare back.

[Courts]

I purchased a timeshare from them (GMAC) and felt very comfortable with them. In fact they told me the original seller backed out of the original unit I wanted, and sold me an identical unit for the same price from another seller.

As for selling, I am still waiting for an offer on another timeshare I have, but this unit is not very desirable so I don't think I have any complaint.

Yes they wanted $600 up front. I believed this to be advantageous for me, because I did not want to bother with details.

.

[rickandcindy23]

So you listed with Timeshares Only? Let us know how it goes, but I wouldn't pay that much money for their services.