The FTC and state consumer protection agencies have shut down dishonest timeshare resellers for bilking timeshare owners out of millions of dollars. If you’re selling a timeshare, listen carefully for the promise of lots of money quickly and a request for an upfront fee. Those are two key signs of timeshare resale scam — and someone you don’t want to do business with.
In one recent case, Vacation Property Services claimed to represent big-name companies eager to buy timeshares for business travel and events. The company guaranteed timeshare owners hefty returns if they moved quickly on the offer. But first, the company said the owner had to pay from $500 to $2,000, via credit card, in “registration” and other fees to seal the deal.
The company’s promises of ready buyers, fast sales, big profits and money-back guarantees turned out to be lies. What’s more, the timeshare owners were stuck with debt on their credit cards from paying the “fee” after the company told them that the sale would be complete — and that they’d have their money — by the time the credit card bill came.
If you own a timeshare, question any offers to help you resell it. Be skeptical of companies that:
- claim the market in your area is “hot” and that they’re “overwhelmed” with buyer requests
- say they have buyers ready to purchase your timeshare — or promise to sell your timeshare within a specific time
- guarantee you’ll get big returns on your resale
- require you to pay fees upfront — even if there’s the promise of a “money-back guarantee”
- don’t provide a contract — or provide a contract that doesn’t accurately reflect conversations you had
Read about buying and selling a timeshare, or check out our infographic to see how timeshare resale scams typically work.
In reply to Read the article about by FTC Staff
In reply to Bridget, if you have a "Right by Jenni
Please talk with a lawyer, real estate professional or other expert about that question.
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In reply to Has anyone heard of"FIRST by GASGON
Alliance Trading Associates is another Timeshare Resale scammer. They make all these promises and then they do the scam where they present a buyer who they claim is attending an event in the Dominican Republic and is interested in purchasing our timeshare.
The send over a contract with an Italian couple’s name in this case: Buyer(s): Address: Palma Areca Street #202 Punta Cana Village Palma Areca Street #202 Punta Cana Village City: Higuey State/Country: Dominican Rep. Zip/ Post Code: 23302
They then tell you that you have to send money to the Dominican Republic to a "lawyer" and “Notary” to handle the sales transaction (Omise Jean Louis & Mireya Joseph). Of course, the money has to be sent via Western Union and disappears from there. They even sent a Letter of Assurance that this is a legitimate transaction. The main Scammers are: Steven Cardwell, Sales Manager, Steven Hoffman, Sales Manager, and Jacob Moore, CEO of Alliance Trading Associates. The company’s website is alliancetradingassoc , office is supposedly located at 75 Marietta Street. alliancetradingassoc Atlanta, GA 30303. (770) 291-0702 or (770) 249-0635
They send a scan of an obviously forged and doctored check from Scotia Bank and claim you will have to sign for it. But only after you send them more money. They then never return your calls and disappear from there. He lyingly claimed to be dealing with Westgate Resorts and gave a phony contact at the Westgate Main Office: David Johnson; Officer in Charge, Westgate Central Office. 1450 Center Park Dr. West Palm Beach, Florida 33401 Office Gmail: centralofficeaffairs (561) 273-9890
When we contacted Westgate Resorts they said they never heard of David Johnson and there was no Central Office. The Federal Government should pursue criminal action against these scammers and frauds because not only do they misrepresent what they do but they are thieves who connivingly victimize innocent people.
In reply to Alliance Trading Associates by kaygee52
Please help law enforcement and report this to the FTC at FTC.gov/complaint. The information you give will go into a database that law enforcement uses for investigations.
The information you put here on the blog doesn't go into the law enforcement database.
In reply to After buying a time share I by Too trusting a…
Please report your experience to the FTC at FTC.gov/complaint. The information you give will go into a database that law enforcement uses for investigations.
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Had anyone dealt with Central Market realty corp in charlotte N.C They are offering to rent some of my vacation weeks at a hefty price no money upfront?
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big scammers I lost 25K
In reply to Please read through this it by not scammed
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In reply to yes, exact same approached me by toross4x
If you have a question about whether a contract is legal, you can talk to a lawyer. You could check with your state Attorney General’s office or the Attorney General's office in the state where the business is based, to see if the business is legitimate.
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In reply to Any one had deals with by Karlie
If you’re selling a timeshare and someone asks for a fee upfront, it's a sign of a timeshare resale scam, and a business you don't want to deal with.
You can check for complaints about the resort developer and management company with the state Attorney General and local consumer protection officials.
You can also research the track record of the seller, developer, and management company before you buy. You also can search online for complaints. This FTC article about timeshares and vacation plans has more information about timeshares and resales.
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