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 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.
In reply to Has anyone heard from Golden by Anxious
In reply to Does anyone heard of by dcpa
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:
In reply to has anyone heard of NBR real by jppatches
In reply to Yes, I have heard of Network by Francesca
In reply to Yes, I have heard of Network by Francesca
In reply to I was. Contacted by worldwide by Lunjac8989
In reply to I was. Contacted by worldwide by Lunjac8989
In reply to We were contacted by Jean by HANKJDon't use…
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
In reply to Anyone heard of or dealt with by jppatches
In reply to I was contacted by NBC Real by Jmackay
In reply to We have also been contacted by Greig
In reply to I was contacted by NBC Real by Jmackay
In reply to I was also contacted by NBC by riggerman84
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.
In reply to I was also contacted by NBC by riggerman84
In reply to I'm going through the the by warytimeshareowner
In reply to Yes, that is where it starts. by riggerman84
In reply to I'm going through the the by warytimeshareowner
In reply to I was also contacted by NBC by riggerman84
In reply to I was also contacted by NBC by riggerman84
In reply to I was contacted by NBC Real by Jmackay
In reply to I was contacted by NBC Real by Jmackay
In reply to I was contacted by NBC Real by Jmackay
In reply to I have been contacted by R-5 by flyboy
Since my last post I have since been called by R-5 Realty again but this time by a Ralph Pena. I didn't inform him that I had previously been contacted my Andrew Perris. I told him to go ahead and send me an offer and to my surprise it was $45,000 above the one I got the first time for the same property. On a follow up call I asked if he knew of Andrew Perris since they supposedly work in the same office. And of course he didn't. I also asked how the process works and if any money is required up front and he told me no that an escrow would be set up that the sale money would be deposited into then in 15 days I would have to pay them a 6% sales commission. This definitely smells like a scam. Thanks everyone for your post on R-5 realty.
In reply to R-5 REALTY IS A SCAM!! We by PalmarSkeptic
In reply to Looking at all the posts re R by PalmarSkeptic
I received a call from R5 Realty like the above bloggers showcasing interest in my timeshare with the Villa Group in Cancun. They also sent me an acceptance letter etc. all sounded too good to be true. Just talk to the Chamber of Commerce in the greater Albuquerque New Mexico area. They told me to reach out to the see Association of Realtors in Albuquerque where I found out that they are not members. The association suggested that I reach out to the NM real-estate commission (505-222-9820) . I talked to one of their lead investigators and he said that R5 Realty is an absolute SCAM! He informed me that there’s no legitimate brokers licensed under the name R5 Realty. In fact, they are taking names of other Realtors past/present & using them as a form of identity theft. Please report the scam to the phone number that I attached. As we all know “if it’s too good to be true” then it’s probably not true. Hope this helped sj
In reply to I received a call from R5 by R5 Realty - SCAM!
Please help law enforcement by reporting this at FTC.gov/complaint. The information you report there will go into a secure database that law enforcement nationwide uses for investigations.
The comments you put here on the blog don't go into the law enforcement database.
In reply to Please help law enforcement by FTC Staff
In reply to Bridget is there a way we can by HogRider
Only law enforcement agencies and personnel who are members of the Consumer Sentinel Network are permitted access to the database. Sentinel members include federal, state and local law enforcement agencies.
You've got ways to check out an offer. Call your state Attorney General's office, call local consumer protection offices; type in the name of the company and the word "review" or "scam" and see what comes up online.
Read the FTC article with tips about selling through a reseller: Timeshares and Vacation Plans.
Read some of the comments here and see if you get ideas from other people's experiences. And if anyone asks you to wire money - that's a red flag. If you send money by wire transfer, it's like sending cash.
In reply to I got scammed by a firm named by WILLIECHIL
In reply to I got duped too. I reported by dupetoo
In reply to I got duped too. I reported by dupetoo
In reply to Hi folks, well we signed the by Carolina
Pagination