Consumer Alert
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.
Timeshare Resale Scams
Infographic
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 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.
In reply to Has anyone been contacted by by Minnimare
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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?
In reply to Had anyone dealt with Central by Grand mayan
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.
In reply to Has anyone heard of Olympia by Lighthouse
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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.
Also watch for offers, emails, and fake documents from "American International Investment Group" and "Champion Properties" operating out of 650 NE Holladay Street Suite 1600, Portland, Oregon, 97232 Tel: 503-914-2766 Fax: 503-345-6898 [its actually a Regus virtual office] using a fake site called champrops. com (a WHOIS search shows it came into being only 2 weeks ago and the admin info lists people and addresses in the US and Australia) and americanint. com (supposedly of Beaverton, OR). Their bogus contract contains this telltale phrase "Escrow further warrants and guarantees that the Total Rental Price, less 5% Company’s Fees due from Lessor, plus any and all applicable reimbursement(s), shall be paid to the Lessor at closing via Cashier’s Check to be sent FedEx Next Day Delivery or via Bank Wire..." Contact names are various including Sebastian Rost, Niva Flanagan, Samuel Wu, Andrew Del Bosque. They had all the correct contact info for our time share in Mexico including phone numbers, addresses etc. - likely purchased from a list, but still disconcerting. They made contact in late Dec 2016. We just referred it to police and posted this note as an FYI.
In reply to Also watch for offers, emails by From_BC
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In reply to Yes. All American Real by Reynaboo
In reply to They are a scam. Been dealing by Dummy
You can help law enforcement by reporting this 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.
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