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.
2,345 Comments
In reply to estoy tratando de aberiguarar by fernando perez lopez (not verified)
In reply to Yo tambien soy victima de by Margarita (not verified)
In reply to check out sell my timeshare. by blondie60 (not verified)
In reply to I received a letter prepared by Krissy (not verified)
In reply to I received the same thing by sarah j (not verified)
In reply to Received calls from driftwood by r. Tran (not verified)
In reply to I wish I had used Google. by j reddd (not verified)
In reply to I wish I had used Google. by j reddd (not verified)
Interesting International wire tranfer fraud,,forex,,trading Mexico has gotten worse without,insurance laws,, Matt from R.C.I. gave no paperwork abt the promissory note. MatT liked baseball, ,would not explain their company address in Florida. Man on phone Litterally ," conference call", ,,just like Grant Cardone,,type. Empty promises and money up front,spoke," 45 days until we reel them in" name and address withheld
In reply to check out sell my timeshare. by blondie60 (not verified)
In reply to VACATION RESORT EXPERTS IS A by Vacationresort… (not verified)
In reply to It looks like Vacation by closeddown (not verified)
In reply to It looks like Vacation by closeddown (not verified)
In reply to But beware. These "companies" by Poogster (not verified)
In reply to Thanks a million for your by EJackson (not verified)
In reply to Thanks a million for your by EJackson (not verified)
In reply to Hey, what happened with your by Thunderman (not verified)
In reply to Thanks a million for your by EJackson (not verified)
In reply to VACATION RESORT EXPERTS IS A by Vacationresort… (not verified)
In reply to CHICAGO MARKETING ASSOCIATES by Chicago Market… (not verified)
HI HOW ARE U??? MY NAME IS ANDRES I WAS READING YOU POST AND I NOTICED YOU MENTIONED CHICAGO MARKETING ASSCOCIATES. 1 MONTH AGO I WAS CALLED BY ONE OF THEIR "EMPLOYEES" TELLING ME THAT THEY GOT AN OFFER FROM A PERSON FROM THE U.S TRYING TO BUY MY MEMBERSHIP IN PUERTO VALLARTA.
THEY TOLD ME TO TRANSFER $4000 INTO A MEXICAN ACCOUNT AND I DID THAT, THEY SEND ME A CONTRACT AND I SIGNED IT, NOW THEY ARE CLAMING 30% OF THE TOTAL TRANSFER OR THEY ARE GOING TO SUE ME. MY QUESTION IS. ITS TRUE THIS COMPANY IS PHONIE OR FAKE?? THEY KEEP CALLING ME . CAN U HELP ME WITH THIS?? THANKS FOR ALL YOU HELP REGARDS
In reply to HI HOW ARE U??? MY NAME IS by andreslop (not verified)
Don’t agree to anything on the phone or online until you check on the reseller.
Contact the state Attorney General and local consumer protection agencies in the state where the reseller is located. Ask if there are complaints on file. You also can search online for complaints about the company.
If you have a written contract, read it and see what it says about paying the company. You could ask a lawyer or real estate professional to help you understand the contract.
In reply to HI HOW ARE U??? MY NAME IS by andreslop (not verified)
In reply to Sorry to here this. We were by Don't use your… (not verified)
In reply to Sorry to here this. We were by Don't use your… (not verified)
In reply to HI HOW ARE U??? MY NAME IS by andreslop (not verified)
In reply to HI HOW ARE U??? MY NAME IS by andreslop (not verified)
In reply to Hi, Did you file the case by angel (not verified)
In reply to Have you heard any more? I by Guy (not verified)
In reply to WE are needing to do the same by Concerned Daughter (not verified)
Please report this to the FTC at FTC.gov/complaint. You can provide information about the company, what it promised, and what you received. The information you give goes into a database that law enforcement uses for investigations nationwide.
You can also contact your State Attorney General and the Attorney General in the business' home state to report your experience. If you sent money by wire transfer, you can call the Western Union Fraud Hotline at 800-448-1492 or the MoneyGram Customer Care Center at 1‑800‑926‑9400.
In reply to Please report this to the FTC by FTC Staff
In reply to We've been approached by by Beth (not verified)
In reply to We've been approached by by Beth (not verified)
In reply to We've been approached by by Beth (not verified)
In reply to I've been sent a similar by Tom (not verified)
In reply to We've been approached by by Beth (not verified)
In reply to We got an offer from them. I by Tim (not verified)
In reply to Also received CMBC's offer to by Carlo (not verified)
In reply to Also received CMBC's offer to by Carlo (not verified)
In reply to Also received CMBC's offer to by Carlo (not verified)
In reply to As follow-up, I did receive by Carlo (not verified)
In reply to Carlo, that's great info. I by Eddie (not verified)
In reply to We've been approached by by Beth (not verified)
In reply to CHICAGO MARKETING ASSOCIATES by Chicago Market… (not verified)
In reply to VACATION RESORT EXPERTS IS A by Vacationresort… (not verified)
A fake website uses Genesis Investment Properties Inc. and it's address to cheat people money. Since Genesis has no bad record, you can't find anything wrong about this company. Also the company has no website which makes it a good choice for the cons to turn it into a scam company. The phone number and email address at the webpage are not Genesis'. The scam company"s webpage: genesisipi. com
In reply to A fake website uses Genesis by Genesis Invest… (not verified)
In reply to A fake website uses Genesis by Genesis Invest… (not verified)
i am in the process selling a time share in cancun with GENESIS who has another company SIGMA PARTNERS INC are in charge of the escrow funds and send me the wire transfers first one,RFC TAX$3500 nextNONE FAMILY TRANSFER TAX $2950 NEXT customs clearance number $6230 and the latest LEGAL AND RECORDING $5976 all these amouts are in USD each time a transfer took place i got a official Mexican receipt with government stamp all the wire transfers went to a Mexican name and bank. so it all looked legal.
the CEO of genesis is ROBERT THOMAS the head escrow officer is CHRISTOPHER DONALD LOMBARDI 15515 san fernando mission blvd,mission hills CA 91345.genesis also promised me i would be reimbursed for all the amounts upon closing that i have mentioned in this statement.the last payment i refused to pay as they were putting on the pressure to pay with in 24hours.how does a person get that money back? also i must have dealt with at least 10 different associates they made it seem professional i hope this helps anyone else goin thru this.dec 9 2016.
In reply to i am in the process selling a by michael (not verified)
If you have contact information for the person you sent the money to you can contact him and ask for a refund, or contact local law enforcement. You may want to report him to the wire transfer company you used. You can also report the person and company to the FTC at FTC.gov/complaint, and to your state Attorney General’s office.
In reply to If you have contact by FTC Staff
Pagination
Read Our Privacy Act Statement
It is your choice whether to submit a comment. If you do, you must create a user name, or we will not post your comment. The Federal Trade Commission Act authorizes this information collection for purposes of managing online comments. Comments and user names are part of the Federal Trade Commission’s (FTC) public records system, and user names also are part of the FTC’s computer user records system. We may routinely use these records as described in the FTC’s Privacy Act system notices. For more information on how the FTC handles information that we collect, please read our privacy policy.
Comment Policy
This is a moderated blog; we review all comments before they are posted. We expect participants to treat each other and the bloggers with respect. We will not post comments that do not comply with our commenting policy. We may edit comments to remove links to commercial websites or personal information before posting them.
We won’t post:
Comments submitted to this blog become part of the public domain. To protect your privacy and the privacy of others, please do not include personal information. Also, do not use this blog to report fraud; instead, file a complaint.