Consumer Alert
Be on the lookout for timeshare resale phonies
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.
Timeshare Resale Scams
Infographic
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 Update: I just added a by JoeC
In reply to Has anyone heard of a Grant by Bcmmh
Please read the FTC article about buying and selling a timeshare. Check for complaints about the resort developer and management company with the state Attorney General and local consumer protection officials.
In reply to We have also been contacted by Ceci and Raul
Please read the FTC article about buying and selling a timeshare. Check for complaints about the resort developer and management company with the state Attorney General and local consumer protection officials.
In reply to We have also been contacted by Ceci and Raul
In reply to We have also been contacted by Ceci and Raul
In reply to Anyone been contacted my by lballen
In reply to Anyone been contacted my by lballen
In reply to Anyone been contacted my by lballen
In reply to Anyone been contacted my by lballen
In reply to Anyone been contacted my by lballen
In reply to We fell for International by MimiLinna
In reply to We fell for International by MimiLinna
In reply to Has anyone ever heard of a by summer
In reply to Yes, I was contacted two days by ginger
In reply to Hi I just got scammed by them by Alexa
In reply to Has anyone ever heard of a by summer
In reply to I've been dealing with these by notmyrealname
In reply to I've been dealing with these by notmyrealname
These are useful details for a complaint. Please report this to the FTC at ftc.gov/complaint. The information you give will go into a database that law enforcement uses for investigations.
The comments you put here on the blog don't go into the law enforcement database.
In reply to I fell for this scam, too. by gotmetoo
You can report this to the FTC at FTC.gov/complaint. The information you give goes into a secure database that the FTC and other law enforcement agencies use for investigations. The comments you put here on the blog don't go into the law enforcement database.
In reply to I fell for this scam, too. by gotmetoo
In reply to IRC is a very planned out by lostmoneytoo
These are useful details for a complaint. Please report this to the FTC at ftc.gov/complaint. The information you give will go into a database that law enforcement uses for investigations. The information you give will go into a secure database that the FTC and other law enforcement agencies use for investigations.
You can also report to the state Attorney General
in your home state and the state where the business is operating.
The comments you put here on the blog don't go into the law enforcement database.
In reply to Any one approached y by Jim
In reply to Any one approached y by Jim
In reply to Definitely a scam! I am by Todd
In reply to Any one approached y by Jim
Has anyone heard of the "company" Vacation Properties by Owner ? The got me for 681.00. Please let me know if you have heard of that company or know of someone that has been scammed by them. Thanks
In reply to Has anyone heard of the by tedblack196
You can report a scam to the FTC at FTC.gov/complaint. You can provide information about the company, what it promised, and what you got. The information you give goes into a database that law enforcement uses for investigations.
The comments you put here on the blog don't go into the law enforcement database.
In reply to Thank you to Angry Dupe for by scamgotus
In reply to DO NOT wire money to anyone by AngryDupe