Timeshare as Investment

by **spongebod** on Mon Jan 21, 2008 17:45 pm

Hi, Is there anybody out there that can give me some sound advice. I bought into CLC & bought 400 points about 7 years ago. But now I'm tierd of paying �400 in membership fee's and management fee's every January. Sometimes I dont even go on holiday but I still have the fee to pay. I would sooner buy a holiday as & when I can afford to have one. I paid about �6000 pounds for these 400 points now I want out. I read somewhere on the web by a bloke who used to work for them and he obviously hacked off with them that the con starts when you want to sell them and get out. Iv had one bloke phone me who says he is a broker and that he can sell them but wants �149 off me first. I said well an estate agents gets his fee's when he's sold your house so why carnt you. How do I know you can sell them. anyway it went on. but I dont know anything about how & who to sort out the legal things to get the certificate and ownership signed over and how much. Where do I start and go from here. Can anybody help me, has anybody out there succesfully managed to sell CLC points? & how much do you think I should sell them for if they are worth anything? or should I wait till I go on holiday on 1st Feb. Find an owner and ask them if they want to buy my points. HELP

by **wilsonjenny** on Sun Feb 24, 2008 14:16 pm

As a CLC member I am assuming that you bought into the lowest category Bronze levat at 400 points. I hate to say this, as Fred 2 knows I am a fan of CLC, but it looks as if you were mis-sold in the first place by an unscrupulous sales guy. There is very little chance of you being able to sell 400 points as they will not buy you much in unless you go on the special offer deals that are offered each month to members.

In the past CLC allowed members to buy small numbers of points on re-sale and add them to an existing membership. They no longer allow this and this is why I feel you will be unable to offload these points. Another reason is that CLC charge a fee per point and for such a low number, it may not be feasible. I think the fee is 50p per point to transfer. Have you spoken to a timeshare selling agent as they may be able to give you more info? I have heard Worldwide Timeshare is good.

Take a look at this site www.clcmembers.co.uk - it is a good site run by members of CLC. I know people have just given them back to CLC as they don't want to continue to pay the annual maintenance fee on such a low number of points.

Sorry I could not give you better news.

by **wilsonjenny** on Sun Feb 24, 2008 14:16 pm

As a CLC member I am assuming that you bought into the lowest category Bronze levat at 400 points. I hate to say this, as Fred 2 knows I am a fan of CLC, but it looks as if you were mis-sold in the first place by an unscrupulous sales guy. There is very little chance of you being able to sell 400 points as they will not buy you much in unless you go on the special offer deals that are offered each month to members.

In the past CLC allowed members to buy small numbers of points on re-sale and add them to an existing membership. They no longer allow this and this is why I feel you will be unable to offload these points. Another reason is that CLC charge a fee per point and for such a low number, it may not be feasible. I think the fee is 50p per point to transfer. Have you spoken to a timeshare selling agent as they may be able to give you more info? I have heard Worldwide Timeshare is good.

Take a look at this site www.clcmembers.co.uk - it is a good site run by members of CLC. I know people have just given them back to CLC as they don't want to continue to pay the annual maintenance fee on such a low number of points.

Sorry I could not give you better news.

by **Fred 2** on Sun Feb 24, 2008 15:03 pm

This thread is SOLELY about the purchase of multiple TIMESHARES as an INVESTMENT - and the fact that it is not advisable to do so. It has nothing to do with CLC. It has everything to do with people not being burned by less than scrupulous timeshare resellers.

Why do people post on random threads without regard to the headings?

by **Irritated** on Sun Feb 24, 2008 22:21 pm

I do agree that Timeshare should not be regarded as an investment. But the fact remains that it is an asset that contains a requirement for annual maintenance fees. The question is: How can I get rid of my Timeshare?

I have just got back from almost signing up with Club Class Concierge, found this web-site, and decided to cancel. I am still left with my problem: how do I get out of my obligation?

Stephen

by **Fred 2** on Sun Feb 24, 2008 22:37 pm

Irritated - I am more than irritated. You should not just post on this thread because it is the top one. It has NOTHING to do with timeshares bought by people for their own use, which must be apparent to anyone who reads the thread.

Once more - with feeling -

THIS THREAD DEALS SOLELY WITH TIMESHARE WEEKS SOLD BY THE UNSCRUPULOUS TO PEOPLE AS "INVESTMENTS" WHICH THEY ARE TOLD CAN BE SOLD FOR A PROFIT. THESE SCHEMES SHOULD BE AVOIDED.

by **Jules2449** on Sat Mar 08, 2008 16:47 pm

Jules Have an appointment with ILG 30th.Mar regarding selling our timeshare to them.People have mentioned money changing hands does this happen on the appointment day or is it a complete waste of time even entertaining going?

by **Fred 2** on Sat Mar 08, 2008 18:17 pm

Jules - don't just post on the top thread because it is the easiest. This one isn't about ILG. Read the Incentive Leisure group thread

forum.holidaywatchdog.com/Timeshare-&-Holiday-Clubs-Incentive-Leisure-Group-Thread-1572-Page-5.html

If you go to sell your timeshare the only money which will change hands is yours. The object is to sell you a holiday club membership - they will offer to take your timeshare in exchange for a "Reclaim certificate" which they will suggest (without actually promising it, if they are careful) that you will receive the value of the certificate in three or five years. The certificate actually promises 10% (some don't even promise that) if you fulfil stringent conditions - but you won't get to see these conditions. It is in theory possible to get more, but no-one does. It will cost you a lot of money. Stay away.

by **HW Jan.C** on Sat Mar 08, 2008 18:35 pm

I have read alot about this on various sites and can only echo what Fred says...Please do not be tempted to hand over any more money, the only winner will be them, no-matter how they dress it all up to seem the ideal solution .. well it isnt.
Dont be fleeced
jan

by **gde** on Mon Oct 20, 2008 21:06 pm

Timeshare as an Investment,lol,lol,lol,lol,lol,lol,lol,lol,now Iam realy laughing,hahahahahahaha.Get real,the ******'s trying to sell you this so called INVESTMENT on all the corners of Spain and the nooks and crannies in the Canaries are in fact ******,who have are must have had some sort of employment problems elswhere.

Now all you people who have passed over cash and made this so called INVESTMENT dont even think of replying to this post.I have many INVESTMENTS in the UK which in fact returns a nice profit in order to pay for holidays abroad.Even with the credit crunch,my bank still pays out very good interest rates.

Iam so sorry for all the poor people who have paid over a life-times savings in order to INVEST in timeshare,so sorry.My advice now,get rid of your time share as the flight costs to overseas arrival points are going to be very expensive in the near future due to lack of reputable airline companies.LTE was a good company,but sadly they have failed.Get rid of Timeshare now.