While vacationing in Cabo San Lucas we attended a sales presentation at Pueblo Bonito Sunset Beach. The pitch sounded great, but we already owned a timeshare and didn't want two. The salesman, Dirk Meyer, offered to call his "associate in San Diego who is a Remax agent" who "knows timeshare resales and values very well". Over speakerphone, we heard Kevin quote us a price of $13,000 for the sale of our existing Wyndham timeshare in Las Vegas.
This amount when added to our downpayment of $5,000 would conveniently cover our total purchase price at Sunset Beach. Also, Dirk assured us that these transactions happen quickly - as "soon as 3 days to 3 months" and if it takes longer it's typically "pilot error on the part of the seller." "Not to worry" he assured us, he would "hold our hand" through the whole transaction. We explained that we did not want to finance this offer or go into debt. We are glad to have always had good credit and not carry any debt month to month.
We finally went ahead with the downpayment and it was 15 days (!) before Dirk sent us the contact information for Kevin Trachsel at Elite Retreat Corporation, we had been asking since before the downpayment was made.in our phone conversation with Kevin at that point the story began to change."$13,000 might be a little too high." "Maybe $6,000, if lucky"."Probably not as soon as 3 months, etc. These things take time." We paid the fee for Elite Retreat to "list" our property, realizing we had already invested $5,000 in the downpayment that we were told was non-refundable. When we expressed our concerns to Dirk he assured us by email that "researching used timeshare resales in the US market has absolutely nothing to do with the markets here in Mexico where they sell your condo to a Mexican couple for about 75 percent of what you paid for it. X and X, I don't want you guys hurt financially, believe me."
Sadly, we reluctantly trusted him, feeling uneasy about the $5K already in downpayment. And yes, we're aware now that timeshares IF they sell on the secondary market typically sell for 75 % LESS than their original price, not for 75 % OF their original price. Apparently this is common knowledge—common enough that both salesmen, Kevin Trachsel and Dirk Meyer would know this for a fact and were willing to say anything to close the deal.
For the extent of our one year contract with Elite Retreat Corporation we heard from that company maybe once. I called them 6 months into the contract to lower the ask to $10,500. Otherwise, no phone calls, contact or updates for months on end unless I initiated a call. We came to find out that Kevin Trachsel lives in Cabo. While Elite Retreat may successfully sell other items, I warn folks who may be attending a presentation at Pueblo Bonito Sunset or at Montecristo Estates NOT to take the bait from any of the salesman that Kevin or anyone else at Elite Retreat "ReMax" can sell your timeshare for you.
They will of course now blame the failing US economy for the failure of our sale. Even while knowing the history of timeshares was written before the economy tanked. But above is word for word the explanation Dirk gave even while the economy tanked (the quote about 75% of the value) as well as this: "I would not let you lose your money. But I think your research on the resale is off. Our broker sells locally and in Mexico to a virgin market... Your other ts will sell. I want you to be happy. Don't worry I won't let you lose your money. Not in my house."
When we notified Dirk that we were firm in disputing our contract he stated just a few days later "I am so sorry that you lost faith in your old timeshare selling quickly... Usually, it happens rather quickly." (oh really?!!!) And then in a later email he goes on to blame on the US economy, which of course, he couldn't control. Neither could we, or anyone else, but this isn't the point is it?
Why not just admit the whole song and dance was a lie between Dirk Meyer and Kevin Trachsel from the beginning, good economy or failing economy? Timeshare resales are a joke... And have been for years. We should have known better than to trust what sounded too good to be true. I write this in hopes that others will not be taken in as we were.
If any resolution comes of our attempt to have our contract cancelled and deposit returned, I will be sure to write an update and publish it on other blogs and forems as well.
We will never see the money we paid to Elite Retreat Corporation for them doing who knows what on our behalf. That money ($199) was small change in the grand scheme of the sale, unless Kevin was paid some sort of commission linked to Dirk's commission. I do not know this to be true—just curious as to how they played the game. I do wonder how many other hundreds have been taken in by customers like us being given empty promises? It saddens and angers me.
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