Developer Credibility Really Counts When You Sell a Timeshare

I’ve been in the timeshare business here in Hawaii for years and I love it.

 Waikiki attracts more repeat visitors than any other island in the world. Quite a number of them have been returning each and every year since the 80’s.

 Years ago I bought a two-bedroom beachfront condo in Waikiki from a well known and well respected timeshare developer. I’ve used it myself, rented it out, and even put up visiting guests in it.

 It’s one of the best investments I’ve ever made.  However, not everybody has been as lucky.

 This is a true but sad story that I just recently learned. A couple that owned a mom & pop timeshare just got burned because of shoddy developer’s neglect.  And this could have been easily prevented.   Here’s what happened to them.

 This couple has been vacationing in Hawaii every year for over twenty years. How they were able to do so with their modest income was because of their timeshare.

 They bought a resort located in the back end of Waikiki, with minimum amenities.  Their ownership type is leasehold – and the lease expires in 2010, so their timeshare will soon cease to exist.  They couldn’t sell it if they wanted to.  But they knew this would happen when they bought it.

 None-the-less, after all these wonderful years visiting, the couple wanted to have a spectacular ending. They doubled up their time by borrowing a week from 2010 and paid up front 2 weeks of their maintenance fees. They planned to celebrate their 50^th anniversary during their final stay at their resort.

 Here’s the neglect by the developer

 Two weeks after confirming their reservation, the bomb drops. They receive a notice that the resort has shut down and is no longer in business.  Their reservation is cancelled and it’s no longer valid.

 Did the developer give them a refund?

 They spent $1400 on maintenance fees to reserve their time. However, they will not see their money because the developer chose not to refund them.

 So they turn to an attorney to seek advice and help.  Unfortunately the legal fees would end up costing as much as the refund.

 So in the end they decide to just let the whole fiasco go and try to put this nightmare behind them.

 What about their plans for their 50^th anniversary visit?

 The good news is they weren’t about to let this bitter experience ruin their 50^th anniversary plans. What they ended up doing was have their friend book them into his beautiful modern timeshare resort that’s located in the newest redevelopment of Waikiki. 

 Matter of fact, as I write this, they are having a wonderful time and savoring all the reasons that always made them want to return in the first place.

 My advice to anyone who has considered selling their timeshare

 Be familiar with your developer and know their past history and reputation. The last thing you want happening when you sell a timeshare is to find out that your developer lacks credibility and is known for their lack of respect. This type of reputation could scare any buyer away from what you are selling.

 Here’s the good news!

 We are in the credibility era where respectable developers now dominate the industry. This is great news because they come with proven track records and they can back it up. There’s nothing better than doing business with a developer that you can trust and there are many that are out there.  Choose wisely and you can enjoy a lifetime of great hassle-free vacations.

 

 

Bonnie