Background
Two years ago my wife and I bought a timeshare from Consolidated Resorts in Las Vegas NV in their Phase 2. It was their deluxe unit, the Royal Tahitian 1 week yearly floating for $43000. I knew from the beginning that buying at timeshare was not a good investment and I knew that I would never make money off of the purchase. What my family and I was looking for was a good Relaxing Vacation property that we could use and enjoy. I work lots of hours and if I had a property to use, it would force me to take more vacations. Then in the years that we did not want to go to Vegas, we could exchange it in an area that we would like to go. That was the plan but now I find it just a pipe dream.
As part of our purchase they gave us the usual hardcore sales. They said that we could split up our unit into 2 units, rent one and use the other or just use it 2 weeks out of the year. We could also split our weeks up 4 and 3 days if we choose. They stated that we could get the rooms for $77 dollars a night if we use all our time or if we wanted a weekend getaway. This was a big selling for me because I go out to Vegas a several times a year on business. Plus they gave us the standard misleading lines that we could refinance it because it was a deeded property. They knew that there was no way we could refi it. They also gave us 6 free vacations which I have found out to be totally worthless. We purchase the floating and the more expensive unit thinking that it would give us a higher rating to get the weeks and days that we want. When we purchased the property in Phase 2 we were told that we could start using our time immediately in Phase One. Since then we have not been able to use it once. Every week we have chosen, has not been available. We have also found out that if we can not get a date locked in, we can not exchange it for a location or rent it. Consolidated Resorts then came back and said we needed to pay Additional Fees and the Maintains fees for Phase 1 if we want to use it because our contract was for Phase 2. We paid all the fees only to be told that nothing was available and that we could only request 30days out. So now we have been paying maintains fees on a property that is not built yet and only to find out nothing was available. Plus, how can you rent it out or trade it if you can not get times but 30 days out.
This spring I decided to sell it. After I put it on the market I started investigating Consolidated resorts and found out that selling it is not an option now because there are so many of them for sale.
This past month I decided to really start researching and get this property sold. My investigation uncovered that Consolidated Resorts was scamming people for lack of better words and issuing false deeds. I have now STOP all payment and we are contacting legal advice to write a letter to Consolidate terminating the contract for unfair Business practices and fraud, false Deeds. I want out of this contract with a full reimbursement of all funds paid and I also want to make sure my credit is not hurt over this.
Below I am going to list all the unfair practices, supporting testimony and false deed information.
Unfair or Illegal Business Practices.
1. Sales personal misrepresented property.
A. Deeded timeshare property can be refinanced as any other home or property. This was a total lie. I have contacted several lending companies and none would finance it. This was an important item because of the interest rate that we were being charged, 16%.
B. Time share could be rented out. This maybe true but if you can not reserve a week per the contract, how would you rent it out? After 2 years of ownership we have not been able to use it once or lock in a single week.
C. Split weeks into 3 or 4 day segments. The contract states that this could be done but when we called and requested it Consolidated said NO.
D. Split Time share into 2 units and use separately. One of the main reasons to purchase the larger unit was because it had a lock out and we were told that we could split it into 2 units and use it 2 weeks a year. When I requested this, I was told that this could not be done.
E. Phase 2 owners could use Phase 1 with no problems. This was not true. When I contacted them they told me we would have to pay the maintains fees and an additional fee to use phase 1. We did only to be told that nothing was available. So now we have been paying maintains fees for 2 years for a phase 1 that we can not use and phase 2 that is not even built yet.
F. Free trips. As part of the package were given six free trips. After receiving all the information a couple months later we learned that there was major restricts and we could not book more than 30 days in advance and had to use their travel company for all additional items. If we wanted to book additional people, our 2 children the cost of the vacation would go to more than I could book the same vacation for all 4 would be. I was told that adding the kids would be minimal. Another example is they would give us free accommodations but we would have to book airfare through their agents, the airfare was double what other travel company wanted.
G. Phase 2 completion date. The contract states that it should be completed in September. I have just received noticed that the Grand opening is in August.
2. Sales personal used unethical business practices
A. Sales presentation misrepresented the product
B. Sales presentation misrepresented the service
C. Sales presentation used dishonest sales practices
D. Sales presentation not consistent with the written agreement
E. Sales presentation did not disclose key conditions of the offer
DEED Fraud.
Consolidated Tahiti Village Resort is a DEEDED Timeshare. My contract with Consolidated clearly states that we purchased into Phase 2 Parcel number 177-04-401-010. This is also recorded at Clark County NV Recorder website.instrument ID: 20060504-01804 and 20060504-01803. I do not fully understand why there are 2 deeds for me on this property, but if you look at them Soleil LV and my wife and I are reversed parties. Here is the link.
Http://recorder.Co. Clark. Nv.Us/extReal/Navigate.Asp? CrossRefSearch. X=34&CrossRefSearch. Y=11
If you look up that parcel on the Clark county Assessor's page you will find that parcel number 177-04-401-010 is NOT part of the Phase 2 construction. According to the Clark County Assessor's page Phase 2 is 17704414000. See link.
Looking at the above link it is quite clear that Consolidated Resorts is doing something questionable. And because of this item I feel that it is within my rights to terminate the contract and demand a full refund.
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