timeshare

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Dec 4, 2017
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#1
I would like to say that it is the first time that I "m posting this on this site. It begin in Oct 27, 2016 that we were asked to come to a timeshare presentation . I told my wife that we were not going to buy no timeshare. Well I will get to the point, she liked it and we bought it. Cost was $ 10,000 the name of the company is RCI. At first it was well let me see if I could book a week of vacation , I put the dates in and I got nothing. So I called RCI and asked them if they could put me on the waiting list that went on for maybe three months and finally i called and said take me off the list . I'am not happy with this Timeshare and I called the sales person who sold it to me ,and asked if they would buy it back and after waiting a few days and the answer is NO . Both my wife and I are in our 70 and we can't be paying for something that were not going to use.. What recourse do I have ? Do I give it back to them free or try to sell it ? If I sell it what company is reliable I know we won't get back every penny we paid for, so I'm stuck with something I will never use.
 

Neil Maley

Moderator
Staff Member
Advocate
Dec 27, 2014
12,290
12,467
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New York
www.promalvacations.com
#2
Unfortunately- you’ll have to retain an
attorney to see what recourse you have. These time shares lock you in with their contracts. The resale value won’t even be close to what you paid.

I wish we had a magic wand to help- but unfortunately for time shares- you’ll need an attorney.
 

jsn55

Verified Member
Dec 26, 2014
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6,540
113
San Francisco
#3
Severo, your instincts were right about this. I am so sorry that you bought this timeshare. The people selling these things are experts at painting wonderful mental and emotional pictures and I'm sure that's what your wife got caught up in.

We get frequent posts from people who don't want their timeshare any more. These cases are unsolveable by an advocate, you'll need an attorney. I wish we could help you.
 
Jan 4, 2018
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#4
RCI is actually the largest timeshare exchange company in the world, but they do not own individual timeshare properties. First, I would confirm that your purchase was directly from RCI and not one of the associated resorts. It is far more likely that there is another party involved in this transaction besides RCI. I agree with the other comments that an attorney would be necessary if you are trying to return the purchased package beyond the legal rescission period. I suggest that you review your paperwork and get a better idea of your actual purchase first and the different options available to you before pursuing other options. I have never owned a timeshare or been associated with RCI, but I am familiar with the industry. My second suggestion is that you do not pay a timeshare resell company an upfront fee for any reason as there are many of these companies and few positive stories associated with timeshare resale.

Mike, Jan 4, 2018