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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In reply to I just got a call from by andrew17
In reply to I just got off the phone with by Jayman372
In reply to check out sell my timeshare. by blondie60
In reply to Has anyone heard of Vacation by mnbog
In reply to check out sell my timeshare. by blondie60
The time-share reseller, "Premium Marketing International", based in Orlando, FL, claims they should be able to sell my time-share within 90 days. I cannot find any complaints about them..are there any??
In reply to The time-share reseller, by oldman75
This FTC article about timeshares and vacation plans has information about timeshare exchanges and resale. To see what other people say about the company, type the company name and the word 'complaints' into the search bar on your computer. Contact your state and local consumer protection agencies to ask about the company.
In reply to The time-share reseller, by oldman75
In reply to Oldman75, what happened with by suspicious9
It's important to check out a reseller, especially if you think it has given you mis-information about being approved.
This FTC article about timeshares and vacation property has tips. For example, don’t agree to anything on the phone or online until you check the reseller with your state Attorney General, your local consumer protection agency, and the consumer protection agency in the state where the reseller is located. Ask if the agencies have complaints are on file. You also can search for complaints online by typing the company name and the word "complaints" or "reviews" into the search bar on your computer.
In reply to The time-share reseller, by oldman75
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In reply to What are the other red flags. by pattyrue503
The blog post on this page and this FTC article about timeshares and vacation plans have information to help you spot a scam.
In reply to What are the other red flags. by pattyrue503
In reply to I have also been contacted by by DVB
You can read the blog post on this page and this FTC article about timeshares and vacation plans for information that will help you spot a scam
In reply to I've also been contacted by W by dirtdigger
In reply to we've also been contacted by by grandmayan
This FTC article abtou timeshares and vacation plans has information to help you. For example, don’t agree to anything on the phone or online until you check on the reseller. Contact the state Attorney General and local consumer protection agencies in the state where the reseller is located. Ask if any complaints are on file.
You also can search online for complaints. Type the company name and the word "complaint" or "reviews" in your browser search bar to see what other people say.
In general, the FTC warns people against sending money to someone you've never met. If you wire money, it's like sending cash. The person on the other end can take your money quickly, no matter what he's promised you.
In reply to check out sell my timeshare. by blondie60
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In reply to We have a similar time share by tred
You can report this to the FTC at FTC.gov/complaint. The information you give will go into a database that law enforcement uses for investigations nationwide.
You can also report to your state Attorney General’s office.
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