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 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
In reply to Golden Asia Realty wants to by Jenna
In reply to Golden Asia Realty wants to by Jenna
In reply to Halicon website not even 1 yr by Scott
In reply to Anyone heard of Colorado One by Barbara
In reply to Anyone heard of Colorado One by Barbara
In reply to Anyone been contacted for by Arvada
In reply to Anyone been contacted for by Arvada
In reply to I was contacted by one Ann by Lito
You or your lawyer could contact your state Attorney General, your bank, or the bank that is holding your money. You could report the timeshare company to the wire transfer company you used to send the money.Call the Western Union Fraud Hotline at 800-448-1492 or the MoneyGram Customer Care Center at 1‑800‑926‑9400.
The United States Embassy in Mexico has this information for US citizens about banks in Mexico: Banking: If you are having problems with a bank account in Mexico, you may contact the CONDUSEF (National Commission for the Protection of Users of Financial Services) telephone toll free from any location inside Mexico: 01 800 999 80 80. Webpage: www.condusef.gob.mx
In reply to You or your lawyer could by FTC Staff
In reply to I was contacted by one Ann by Lito
In reply to I was contacted by one Ann by Lito
In reply to Same situation here! I am by reindeer
In reply to Anyone been contacted for by Arvada
Pagination