Consumer Loses Thousands to Florida Listing Company, Premier Timeshare Solutions (PTS) of FL
In this challenging economy, consumers are looking for ways to reduce debt. Some timeshare owners are interested in selling their timeshares so they can recoup their investment and stop paying maintenance fees.
Premier Timeshare Solutions (PTS), located in
A consumer from
In December, 2009, this customer was told that the timeshares sold, but he never received documentation regarding the sales or the closing statements. In addition, the consumer had the deeds to the properties and knew that they could not have been sold without them.
The BBB warns potential customers of timeshare resale businesses to have a clear understanding of all terms and conditions of the company’s contract before signing.
If the business offers a listing service, find out where the company’s ads will appear, and determine what criteria the company uses when matching potential buyers and sellers of timeshare properties.
In a typical real estate transaction the fee is paid from the proceeds of the sale, at the time of the sale. You may want to opt for a company which will wait for its fee until the sale goes through. You should also find out if the salespeople are licensed real estate brokers and whether there are any complaints lodged against the broker. Contact your state's real estate regulators for this info.
Finally, check out the business with the BBB at www.bbb.org. Be wary of any high-pressure, too-good-to-be-true claims that the timeshare resale market is “hot” or that a buyer is already lined up.