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 Received a call from Realty by Mexicano
In reply to Has anyone ever been by Penny2020
In reply to Has anyone been contacted by by retiredgrandma…
In reply to We were contacted by Your by David R
In reply to I just wanted to see if you by Eric K
In reply to I just wanted to see if you by Eric K
In reply to I have also been contacted by by Tom H
In reply to I just wanted to see if you by Eric K
In reply to I just wanted to see if you by Eric K
In reply to I have just been contacted by SLC
In reply to I have just been contacted by SLC
In reply to Has anybody heard of Realty by Quarantine2020
In reply to Has anybody heard of Realty by Quarantine2020
In reply to If it sounds too good to be by Been scammed!
In reply to Has anyone heard of or dealt by JM Texas
In reply to I have recently been by Concerned Time…
In reply to I had a call from them as by Skeptic
In reply to I have recently been by Concerned Time…
In reply to I have recently been by Concerned Time…
In reply to I also recently received an by bags20
In reply to I have recently been by Concerned Time…
In reply to Has anyone received an offer by AmyM
In reply to Has anyone received an offer by AmyM
In reply to We were just contacted by by Lgmarket
In reply to Has anyone received an offer by AmyM
In reply to I got email from Airgorilla by Ciro
In reply to I entered into a contract in by RobbieM
Pagination