Be Aware! Get the facts!
Timeshare Real Solutions (TRS) offers to guarantee your Pacific Monarch Grand Vacations time-share after 10 months of trying to sell it for you on their website at an upfront cost of $799. They priced my timeshare at $7200 - which sounded great on the phone until i got the contract in the mail. I asked them to email it to me, but they did not. They wait until after the 3 days you have to cancel the contract to mail it to you. At that point you think you're stuck! But you don't have to be. Here's the Broker Purchase Option portion of the contract:
TRS hereby guarantees that if after 10 months of marketing your timeshare on our venues, which begins from the date we received your signed contract, if you notify TRS in writing. We will have our Licensed California Real Estate Broker submit to you, on behalf of TRS acting as a principal/buyer, a market price/value offer for the purchase of your timeshare. For the purpose of this purchase provision, market price/value means what a similar Timeshare comparable to your most recently sold for on a competitive and open market. The comparables we send you, showing the actual prices of what has sold will not be subject to any other price negotiation and will be considered as the final price/value. Please submit such request in writing with a copy of this signed document to our mailing address below.
The contract also states: The term of the agreement for the marketing of your Timeshare is 2 years. Renewals are at no charge if you contact us in writing at least 90 days prior to the initial 2 years. ALARM BELL HERE!
I left 2 messages for my Agent to call me back after receiving the contract, with no call back. On the 3rd call I spoke with Breanna, who was cold and unhelpful. She said she would listen to my voice recorded contract, and if everything was in order, I would be held to the contract. When I asked about the comps, she said I would have to do my own research. When I asked about my Agent, she said I didn't have one. They were all to kind when selling me on their services, but when I questioned their tactics, she was cold and uncaring. ALARM BELL HERE!
After finding similar complaints online for this company I realized I was being taken for a ride. I filed a complaint with the Office of the Attorney General at http://oag.ca.gov/contact/consumer-complaint-against-business-or-company.
They notified TRS of my complaint, and low and behold a call comes from my Agent (that didn't exist).
When I asked the Agent for comps of recently sold timeshares like mine, he told me to get them from the Clark County Assessors Office (CCOA). The CCAO was unable to locate any comps for me. When I asked the Agent again the following day, he said they would only give them to me with a signed contract. - ALARM BELL HERE! Any good real estate agent will provide you with comps on your property to agree on an asking price. My guess, is they sell them well below their value, and then use those comps to buy yours.
When I asked the Agent to explain the 2 year marketing clause he could not explain, and only said the 10 month Purchase Option over-rides this. Then why is it in the contract? I asked, he couldnt give me an answer. After further discussion TRS was willing to cancel the contract and refund me the money. They do NOT want trouble with the Attorney General's office.
This could avalanche into a bigger problem (hence why I'm sharing my story), and affect their Bond. If you are in the same situation, file a complaint!
The more people who bring this company to the Attorney General's office, the more likely they are to investigate their practices.
I don't know if TRS delivers on the buy-out at a fair price or not. I didn't want to find out. Perhaps you found that they delivered on their promise, but after reading their contract, I felt there were too many loop-holes in TRS's favor and not enough information to trust them. IMPORTANT information for Pacific Monarch GV members!
Diamond Resorts has purchased the Pacific Monarch properties, but not the owners. Like me, you received a letter telling you that in order to have access to the Diamond Resorts properties, you would have to pay more in quarterly dues. I chose to opt out of this program, as I only want to go to our PM locations.
My whole horrible ordeal started when a Diamond Resort Agent called and told me that if I didn't pay these dues, I would be 3rd in line to reserve my PM timeshare. First would be Diamond Resort members, then cash-payers, then Pacific Monarch members. They said it would be harder for me to book my next vacation! The TRS Agent I spoke with told me that in the near future, Pacific Monarch members will be required to buy into Diamond Resorts. THIS IS NOT TRUE!
After speaking with Nicole at Pacific Monarch, I learned that nothing has or will change with my membership. The Diamond Resorts program is completely optional, and will in no way affect my ability to use my membership.
Diamond Resorts acquired our information when they took over the "developer" aspect of Pacific Monarch - not Pacific Monarch Grand Vacations members. Our PMGV Board will be discussing Diamond Resorts practices and I expect theyll be telling us soon how to respond to Diamond Resorts and TRS's lies!
I wish someone from Pacific Monarch GV would have told us about this fraud before I got caught up in this whole painful ordeal, but perhaps this report will help you avoid this situation, or get out of it too.