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 has anyone heard about Kevin by Carolina
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Who has heard from Golden Asia Realty who deals with Nations Capital Inc.com in charge of funds through Citibanamex in Mexico. They offer a very high price for the Mayan timeshare and have a buyer billionaire company Sika who wishes to use the money for tax writeoff in case Nafta disappears. They claim to have valid licenses which in fact do appear in eAccessNY and when you check Golden Asia Realty on Google the telephone numbers they call from and put on their emails are the same. How can they appear this authentic if they are not?
In reply to Who has heard from Golden by Anxious
In reply to Who has heard from Golden by Anxious
This is just unbelievable. I have not looked at all the pages of comments (so many!) but I was contacted 2 days in a row (last week) by R-5 Realty in New Mexico, asking if I am interested in selling my timeshare in Cancun. Isn't it odd that, at least with this first page, all the requests are to buy in Mexico? What's the deal with Mexico? I love my time share but would gladly sell for the price I paid - which was offered, but the more I read and the more I think about it, it just sounds too damn good to be true. They never mentioned on the phone any fees I would have to pay but I am awaiting an email. I have not done any investigative work on R-5 but I will do so now. Has anyone had a call from them? I was very close to being scammed a few years ago (Craig's List) so I am very, very cautious now.
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In reply to Has anyone heard from Golden by Anxious
Yes, they have been constantly calling me and my wife offering to buy our Mexico timeshare for 6x's what we paid, after their 9% commission. so annoying.
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In reply to has anyone heard of NBR real by jppatches
Did you check the companies with any government agencies? If a company calls you and offers to sell your timeshare, read the FTC tips about selling a timeshare. Here's the first tip:
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Did you check the companies with any government agencies? If a company calls you and offers to sell your timeshare, read the FTC tips about selling a timeshare. Here's the first tip:
In reply to We were contacted by Jean by HANKJDon't use…
In reply to Was your timeshare a Fiesta by Heddy
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You can help law enforcement by reporting this to the FTC at FTC.gov/Complaint. The information you provide will go into a secure database that law enforcement uses for investigations. The comments you put here on the blog don’t go into the law enforcement databases.
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