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 I am still trying to get my by dupedtoo
In reply to I'm in deep with this company by GotScammed
You could contact your state Attorney General.
I recently recovered funds from a scam broker, Omega Options. They intentionally make you loose trades so you deposit more money. I had to hire a professional to get my money back. Lesson learnt, happy to share my experience.
In reply to I have also been contacted by by Scammers beware!
In reply to I also have received an by Poseidon
In reply to I have also been contacted by by Scammers beware!
In reply to Go back and read the post by Scammed&Mad
In reply to We were contacted and told no by deltablue
In reply to The first money they will ask by Scammed&Mad
In reply to Thomas did the same to us. We by dupedtoo
In reply to The team from Gold Coast Real by jimori
In reply to Go back and read the post by Scammed&Mad
In reply to Does anyone have any by Larry 59
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In reply to Does anyone have any info on by Larry 59
In reply to Does anyone have any info on by Larry 59
In reply to Does anyone have any info on by Larry 59
In reply to I have been contacted by by kp859
If someone wants you to pay them before they help you, stop.
Find out more about the business. Contact the state Attorney General and local consumer protection agencies in the state where the reseller is located.
Read this FTC article about buying and selling a timeshare.
In reply to We were contacted by Gold by Watch out Gold…
You can help law enforcement by reporting this the FTC at FTC.gov/complaint. The details you have about who contacted you and what they said are important. The information you give will go into a secure database that the FTC and other law enforcement agencies use for investigations. Thank you.
In reply to We were contacted by Gold by Watch out Gold…
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In reply to We too was contacted by by toogoodtobetrue