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.
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We removed your email from this post. We don't publish personal details in the blog. Please report scams to the FTC at FTC.gov/complaint, so the information gets to law enforcement. Your reports to the FTC are added to a database that law enforcement agencies nationwide use for investigations.
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On July 26, 2017 I was cold called by Eddie Espinoza from Escape with travels escapewithtravels. com located in Mexico City to inquire about purchasing my timeshare from Pueblo Bonito Resport in Cabo San Lucas. I asked him how he got my phone number and he told me that they work with expedia. com to help customers with their travel needs. He asked me details of my timeshare contract and they sent me a quote to purchase my timeshare. The proposal letter requested my signature and offered $54,054 to purchase but it only cost me $11,000. I asked Eddie why and he said they will make the money back fast. He requsted I send in a copy of my contract and return my proposal with my signuate. He called me back to tell me I would have to send him a commission check for 8% of the purchase price. I sent in a copy of my contract. They now have my personal information. I did this before I realized the complany is a fraud and the website is not even functional to book anything. When I told Eddie I thought it may be a scam and that the website doesn't even work he told me he would look at it and get back to me. He never called back.
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You can report your experience to the FTC at FTC.gov/complaint. The information you give will go into a secure database that the FTC and other law enforcement agencies use for investigations. The comments you put here on the blog don't go into the law enforcement database. Thank you.
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Yes, we too have been scammed for thousands of dollars! We checked out the agreement, the company, the BBB, the people, nothing came up until Donald Johnson's name was googled, and we only started dealing with him in mid August.
Watch out for Jennifer Shipman, Mark A. Lewis, William Reilly, Chris Peters from International Realty Corporation and West United Services.LLC: Dominic Hamilton, Brian Martez, Eric Torres, other names used were lawyers: Ricardo De La O Dominguez, Diana Cecilia Sanchez Ridriguez, Giovanni Romero Ramon. We paid for a Mexican RFC # for $4,750 (apparently needed, but way to much to pay!) Non family transfer fee of $3,825, Capital Gains tax of $18.760K and Legal and Recording fees of $4,285, and now Citibanamex wants Bond monies of over $27K! Run, because this does not end! We have contacted a criminal lawyer in Mexico city, but that too costs money to proceed. You are caught either way! Things looked official with stamped receipts from the SAT office, Citibanamex statements, official letter head, websites, they have gone to a lot of trouble to be so deceptive! This started May 16th with a telephone call and an e-mail, so they got our information from someone at the resort. BEAWARE!
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Also add Kevin Bell at International Realty Corp.
At West United Services: Anthony Garcia Steven Meyers Brian Montez Dominic They got me for $18K also.
I filed with FTC, State Attorneys in Il & my state, FBI, Illinois Department of Financial & Professional Regulations for the business & the real estate board against Donald Johnson (he gave me a license number of 471013624) AND International Realty Corp. (business license number 478007380. I also submitted a review at the Better Business Bureau (BBB)in Chicago. I did a review because it could be posted on their site and be seen by everyone whereas a complaint is not. I just rechecked the BBB site in Chicago and info on International Realty Corp. is not there and there is a comment stating that their information is being updated. I am hopeful that the BBB may be checking this company out more. Will check back later and see if that is the case. I also filed a review on West United Services with the BBB and that is still up on their site.
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Before you give someone your credit card number, read about buying and selling a timeshare. To start, check for complaints about the resort developer and management company with the state Attorney General and local consumer protection officials. And remember, if you give someone your credit card number, they could charge your card.
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Pagination