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 Was approached by Bluelight by cloudnine
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 Was approached by Bluelight by cloudnine
In reply to Was approached by Bluelight by cloudnine
In reply to It seems they all do the same by riggerman84
In reply to I called the security office by Skeptic
In reply to I’m unable to confirm that by Skeptic
In reply to I called the security office by Skeptic
In reply to It seems they all do the same by riggerman84
In reply to It seems they all do the same by riggerman84
In reply to Was approached by Bluelight by cloudnine
In reply to Was approached by Bluelight by cloudnine
In reply to Regarding the 15% State sales by Skeptic
In reply to Was approached by Bluelight by cloudnine
In reply to R5 Realty has done the same by Michael
In reply to I was contacted by a broker by Holli Wood
In reply to I was contacted by a broker by Holli Wood
In reply to Anyone hear anything positive by kkc
In reply to Anyone hear anything positive by kkc
Got phone call from Golden Asia Realty offering a really large amount for our time share. Looked them up on lone- they have web page says they are in NYC...so I checked- read below:
NYS Department of State Division of Corporations Informational Message The information contained in this database is current through March 16, 2018. No business entities were found for Golden Asia Realty. Please refine your search criteria. To continue please do the following: Tab to Ok and press the Enter key or Click Ok.
In reply to Got phone call from Golden by Belltree48
In reply to Got phone call from Golden by Belltree48
In reply to I have been working with by hamair
In reply to I have been working with by hamair
In reply to Got phone call from Golden by Belltree48
In reply to Got phone call from Golden by Belltree48
In reply to Yet another new name to add by SoCalSurf
In reply to Having the same experience by meg
In reply to Having the same experience by meg
In reply to I have a guy from Halicon by Scott
In reply to I have a guy from Halicon by Scott
In reply to Has anyone heard of Marketing by T Todd
Pagination