Be wary of exit companies asking for money up front, real estate - KMOV.com

Be wary of exit companies asking for money up front, real estate commissioner says

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KMOV.com -

A year-and-a-half after paying to exit his timeshare, Gary Newton is still waiting. 

The timeshare agreement he signed said the timeshare exit should take between three-to-nine months to complete. But nearly two years and $3600 later, Newton said he is still waiting. 

"The deal was they would initiate the process and update me every month," Newton said. 

But Newton does not stand alone in this problem. More than 1 million timeshare owners want out, according to Redweek.com. The California Real Estate Commissioner warns owners desperate to get out of their timeshares make for "easy prey" for timeshare exit companies. The commissioner said owners should stay away from anyone asking for money up front to help them exit their timeshare. 

The exit company agreed to refund Newton's money, but now, he remains back where he started. 

A timeshare trade association advises that owners seeking to exit should contact the resort, developer, or home owner association directly to work out an exit solution. 

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