Timeshare resale scams are some of the most common business frauds out there. So much so that the Better Business Bureau ranked them in the number four slot in their annual list of top scams. With these scams so prevalent, how can you protect yourself from timeshare scam fraud and sell your timeshare safely?
These scams usually follow a similar model for attracting customers and ripping them off. Typically, the representative you speak to will attempt to get you excited about selling your timeshare and how their company can help you by boasting an active market or a predetermined list of interested buyers that are waiting to buy your timeshare property. All you have to do is provide them with some money upfront. These upfront fees can range from a few hundred dollars to several thousand. These fees, the claim, are to be used as administrative fees or as listing fees, leading the customer to believe that some of the money will be returned to them once the timeshare has sold or if they are unable to sell it. Unfortunately, either through contract loopholes or through disappearing, the money is gone and the customer is still left in possession of their timeshare.
This scenario plays out far too often, with companies raking in millions of dollars off unsuspecting timeshare owners before either disappearing or being shut down. But despite their commonality, there is no need to fall victim to timeshare resale scams. Arming yourself with knowledge about how these scams work, what to look out for, and where to look for reliable information can all effectively help you avoid timeshare scams and sell your property.
A reliable resource for information about these scams and assistance finding reputable companies is TimeshareSecrets.com. Their free consultation will allow you to learn your options and find a timeshare resale company that can help you get rid of your timeshare quickly without charging upfront fees, which means there is no risk of timeshare resale scams.
