Escondido Towers is a resort-style condominium community located in Mazatlan, Mexico. At one point Escondido Towers may have had a timeshare program. Currently the property is managed by a company called Mazatlan4Rent, and units can be found for sale and for rent online by various realtors, as well as on Airbnb.
One might assume from this information that the Escondido Towers timeshare program is no longer in existence. While we could not determine whether or not the program is still around, the fact remains that if you bought into this property you may want to cancel Escondido Towers timeshare.
The only reviews we found of Escondido Towers came in the form of TripAdvisor discussions from buyers of fractional ownership (which is similar to a timeshare, but not the same) who had trouble getting in touch with the sales managers immediately post-purchase. Those sales managers eventually got in touch by posting their information on those threads, which is not necessarily a red flag, but is definitely a bit strange. Those communication difficulties might still exist considering the lack of other information available online about Escondido Towers. Fortunately, in spite of this, there are still several ways you can get rid of Escondido Towers timeshare.
What is Fractional Ownership?
If you’ve invested in Escondido Towers at any point, it can help to understand the difference between a timeshare and fractional ownership. A timeshare purchase is supposed to give you, the buyer, the right to make use of a vacation property for a certain length of time each year. Every buyer is meant to have the same right of usage, but the property owner still holds rights to the title. In contrast, while a fractional ownership is also supposed to provide the buyer with a similar amount of limited annual access to a property, it also makes each buyer a part owner, giving them all an equal part of the title.
While fractional ownership may sound a bit like a better deal than your average timeshare, it generally isn’t. The same kinds of fees can be involved in a fractional ownership, and the same management and quality problems can exist with the property. That’s why the same principles to getting out of a timeshare in a way that protects you can certainly apply to getting out of a fractional ownership.
Escondido Towers Official Timeshare Exit Program
Further research led us to a website for the property that looks quite outdated, and an official blog that was last updated in 2011. The website itself does not include any timeshare-specific information. For all intents and purposes the resort company does not appear to be very active, and the seemingly exclusive rights Mazatlan4Rent has to its units emphasizes this.
That said, if you wanted to try and work directly with Mazatlan4Rent to get out of Escondido Towers timeshare, you could go to their website instead and get in touch via the Contact page. You could also click through to their sales website, Mazatlan4Sale, and find a means of getting in touch through that platform. This company looks to have a solid BBB rating, so it’s certainly worth looking into.
Get Rid of Escondido Towers Timeshare via Resale
Another option you might look into to cancel Escondido Towers timeshare is resale. This may be one of the better options when it comes to a property of this nature, but keep in mind that it’s only possible if you do not owe a mortgage on the property. When it comes to resale, we generally recommend the following low-cost platforms:
- Craigslist (free)
- Ebay ($50)
- Myresortnetwork.com ($34.95)
- tug2.com ($15/year membership)
- Redweek.com ($59.99 – $125)
Finding a buyer on one of these platforms can save you the costs involved in hiring a timeshare resale broker, as you’ll go through the process on your own. However, that means you will have to figure out how to transfer the timeshare to the buyer on your own as well, which can be challenging.
Working with a licensed timeshare broker, on that note, can be easier and less stressful than trying to go the route of resale on your own. A broker will do the primary work of finding a buyer for you. However, they will most likely take around 50% of the final sales price as commission.
Using a Timeshare Exit Company
Though hiring a timeshare exit company can be a more expensive option, it can also be a more thorough and effective solution in the long run. That’s because timeshare exit companies work directly with resorts in order to release owners from their contracts and cancel all remaining fees. Oftentimes they do this with a team of lawyers, or by partnering with a local law firm.
When it comes to finding the right timeshare exit company for you and your situation, you want to be sure to find one with a track record of success, several positive online ratings and reviews, a legitimate online presence, and a high grade with the BBB. You also want to make sure that they use escrow for payment. That means that the company does not operate on meaningless money-back guarantees — rather, they do not get paid until they’ve completely cancelled your timeshare, and you’re completely satisfied with their work. You can learn more about why escrow is important on this page.
We created this website in order to feature companies that fit these parameters, so you can have an easier time finding a way out of a burdensome situation. To learn more about our recommended companies, please visit this page.
Avoiding Timeshare Exit Scams
One of the biggest reasons we only recommend companies that use escrow is the massive amount of timeshare exit scams out there. Like with any other industry, the timeshare exit industry is full of notoriously fraudulent activity, and it helps to know what to look for in order to find the more reputable companies. There are fortunately a handful out there that operate honestly, and have a track record of actually helping people cancel their contracts and any remaining fees.
To avoid getting involved in a timeshare exit scam, or working with other kind of shady company while looking to get out of Escondido Towers timeshare, here are a few tips to keep in mind:
- Resist any pressure to act fast or pay for a service right away. Trustworthy companies will never pressure you into hiring them before you are ready. High-pressure sales tactics are major red flags, and they point to a business you want to avoid working with.
- Inquire about licensing, insurance, and identification with any local business. It’s generally a good idea to work with a local business, but to get even more clear about which are legitimate, it’s also a wise move to ask about their licensing and insurance. You should also always check identification when it comes to any business that will be dealing with your money and personal information.
- Check the fine print and don’t believe everything you read. Many scams rely upon common industry phrases to build trust, but you’ll note that they tend to use them in a shallow way, and fail to produce detailed information to back up their claims. They often exaggerate and make wildly outlandish promises, too. A responsible and reputable company will not do this; instead, they’ll give the details about how they will cancel your timeshare for you.
- Watch out for high upfront payments and nontraditional payment methods. Requests to pay via wire transfer or prepaid money card are certainly red flags, but so are demands for upfront payments that do not use escrow, as well as agreements that do not have solid contracts. There is no money-back guarantee or amount of lip service that can ensure that you’ll get a refund if a timeshare exit company can’t deliver what they promise.