The Consolidated Resorts Bankruptcy has brought about plenty of worry for timeshare owners at their properties, most notibly Tahiti Village in Las Vegas.
We’ve heard reports that there are resale and listing companies that have gotten access to the timeshare owners’ contact information. They are now telemarketing the owners to try to enlist them into their programs of paying upfront fees in order to sell their stakes in their timeshares.
Our hope is that no one takes their offers and wastes more good money after bad. Who in their right mind would want to buy a timeshare at a bankrupt timeshare resort? These companies may make a case that their are buyers in the wings eager to buy due to the drop in value. The number of buyers of timeshares are very few to begin with. We know that. Only buyers who are ignorant of the facts would purchase a timeshare there. Saavy investors would be smarter to find a way purchase the resort itself at a value cost instead of the timeshare units.
So, for those timeshare owners that are receiving telemarketing calls, remember not to pay anything upfront to simply list your timeshare. A buyer will most likely never materialize. If you upfront, make sure the company offers a guarantee of transaction like Timeshare Relief does.
For Part I of this series, click on this Consolidated Resorts Bankruptcy Part I link
For Part II of this series, click on this Consolidated Resorts Bankruptcy Part II link
For Part III of this series, click on this Consolidated Resorts Bankruptcy Part III link
For Part IV of this series, click on this Consolidated Resorts Bankruptcy Part IV link