STAY CONNECTED . Timeshare Resales - 5 Surprising Truths About Timeshare Resale Timeshare companies of all types should cease high-pressure sales tactics at pitch meetings and ease restrictions for longtime, non-delinquent customers who wish to cancel their timeshare. YouTube sets this cookie via embedded youtube-videos and registers anonymous statistical data. Fake debt collection on supposedly unpaid timeshare fees isalso a common ruse used on unsuspecting owners. On-going investigation. They kept me informed the entire way. In March of 2013, Bondi's office sued multiple Florida timeshare resale companies for unfair and deceptive trade practices. Whether youre looking to buy a new timeshare or sell your timeshare outright, here are a few organizations that will allow you to do so with ease. - Ask about fees and timing. And lets face it: sometimes life simply gets in the way. SellMyTimeshareNOW.com is an active timeshare resale marketplace and the best place to sell a timeshare. Be wary of offers from timeshare resale companies . How to Choose a Legitimate Timeshare Resale Company The Federal Trade Commission has charged the operators of a timeshare reselling scheme with bilking at least $15 million dollars from timeshare property owners by imposing hefty up-front fees based on false promises that they would sell or rent their properties. One of the leading companies is currently under investigation by the Washington State Attorney Generals office. I tried to sell it on my own on Ebay, but that certainly didn't work. Typically, timeshare properties are located in resorts or condominiums in desirable vacation destinations. The process could not have been easier. Now, If this buyers waiting scheme sounds similar to a timeshare resale scam, thats because it is. This alert represents the views of the staff of the Office of Investor Education and Advocacy. 1 Twitter 2 Facebook 3RSS 4YouTube He and his coconspirators would guarantee the sales and would represent that buyers were already arranged who were ready to pay for the timeshares. We were told we could easily travel anywhere. While you may think of fraud and theft as being perpetrated by ruthless criminals on the streets, many scams are actually carefully orchestrated schemes that take place behind closed doors, in dimly lit rooms and over an IP telephone. IC3 has identified some instances where people involved with the recovery company have a connection to the resale company, raising the possibility that victims were being scammed twice by the same people. It is important to verify the identity of the person who contacts you by independently searching for the persons or firms website and checking that the contact information listed there is consistent with the contact information the person provided you. Timeshare resale companies under investigation are under investigation for a reason so hang up the phone and don't become a victim! Timeshares generally have very little value on the secondary market. We want you to be aware of a growing number of timeshare exit companies that are inundating owners with direct mailings, telemarketing, and seminar invitations. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you. A Maryland woman told BBB years of previously undisclosed maintenance fees and better vacation options led her family to want to sell their timeshare. Most of these contracts are not investments and may return considerably less than you paid. "We would have never purchased this had we known how much it would really cost.". Privacy Policy CA Privacy Policy | Accessibility Policy | Do Not Sell My Personal Information | Terms & Conditions. Set by addthis.com to determine the usage of addthis.com service. In cases where the fraudsters pose as stock brokers, they may assume the identities of real registered brokers without the true brokers knowledge. In fact, every day we connect timeshare owners with buyers in more than 217 countries and territories worldwide. - Before you sign any sort of contract, make sure you get the details of its terms and conditions. More information about cookies can be found in our. A company by the name of Global Business Consultants is currently running this scam as of 11/25/19. Fraudsters sound convincing, are very responsive, send you authentic looking paperwork, and sometimes create websites that look legitimate. These scams typically involve individuals alleging to be representatives of a brokerage firm, travel agency, title company, or . emailStay Connected Developers were in the area, Properties were being purchased nearby, and Closings were already scheduled. Those lines and many others were reportedly used to hook unsuspecting owners into listing their land in property portfolios. DON'T GET SCAMMED BY THIRD PARTIES! Some timeshare-related businesses, however, treat consumers ethically, resulting in positive experiences for buyers and owners. reveal fraudsters have used the same high-pressure tactics common in timeshare sales to con consumers out of $3.5 million in the last three years. Based on alleged company misrepresentations during these solicitation calls, victims would agree to pay a portfolio fee in various amounts, typically ranging between $2,000 and $3,000. Cookies containing your personal data may be used for personalized and non-personalized advertising to you. The technical storage or access that is used exclusively for statistical purposes. If you decide to sell, you can do so by yourself or via several timeshare selling platforms, whose fees and services vary. Timeshare "owners" usually pay an initial fee to get into the timeshare agreement, plus regular maintenance fees and other charges later to continue ownership. Don't Get Stuck, Call Us Today! Brian Oglesby with the Better Business Bureau told the media that The company would come to them (the victims) and claim that they had a buyer for their land, or they had a buyer on the spot and all they had to do was pay upfront fees.. Legitimate Companies That Buy Timeshares Each owner was then promised refunds on the portfolio fees upon close of sale, minus small administrative fees.. Buy Timeshare Resale From Top Brands - Fidelity Real Estate A Texas man paid nearly $3,000 upfront to a timeshare exit company he thought looked legitimate. If you do not know the person with whom you are doing business, be extremely cautious and do extensive due diligence. From unforgettable getaways to exclusive events, we help members make a habit of breaking from their routine. ", "When I decided to sell my timeshare, I had no idea about how to go about doing this and of course who to trust. MORE FROM THE FRAUD WATCH NETWORK AARP Fraud Watch Network I would be happy to recommend Sell My Timeshare NOW to anyone looking for a competent, reliable company to sell their timeshare and handle all documentation with a positive and friendly attitude! Be wary of hiring lawyers recommended by third parties who make unsolicited offers, as they may not be impartial. Instead, the company takes the money and runs, leaving the timeshare owner with a worthless contract and no recourse. These fraudsters may provide very official looking documents, including contracts and title paperwork. This cookie is set by GDPR Cookie Consent plugin. The Timeshare Industry Has Improved Its Reputation but - TheStreet Trust your instincts: if a timeshare solicitor makes you uncomfortable or tells you something that does not sound right, do not continue communicating with them. Millions of Americans visit online dating websites every year hoping to find a companion or even a soul mate. Do Not Sell or Share My Personal Information. Six Individuals Charged in Timeshare Resale Scheme Timeshare Resale Companies Under Investigation Fax Line:(916) 554-2900. Be realistic about what you can get for your timeshare. A timeshare resale is a timeshare available for sale by the current owner, rather than by a developer, resort, or other entity. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". Whether youve been contacted by a dubious timeshare resale company, or youre simply looking for answers and options to best utilize your vacation ownership investment, the Westgate Legacy Program is here to help. The property is usually managed by the resort in which it is located. If you suspect you are the subject of fraud or dishonest business practices, there are many avenues to report your case: Your local Better Business Bureau can assist you with finding businesses and charities you can trust. With the sun out and their guard down, vacationers can quickly find themselves on the hook for a life-long commitment. The victimsmostly owners trying to sellwere scammed by criminals posing as representatives of timeshare resale companies or by actual employees of companies that were committing fraud. Please carefully review our, 8380 Bay Pines Blvd. START NOW. Keep paying your maintenance fees even if the exit company advises you not to you will be liable and could even face foreclosure. Look for a reputable company, prioritize a money-back guarantee and a clear and transparent process for getting out of your timeshare contract. Feel free to contact us for a free consultation and to speak with an attorney. Your owner dashboard enables you to receive, track and respond to offers as well as send messages directly to our customer care team for immediate assistance. Are Timeshare Stocks A Ticking Time Bomb? | Seeking Alpha Contact ustoday for more information regarding our services and how we can help you with your case! When you subscribe to our services, we work to get your timeshare seen and sold. Newton Group can offer multiple options to help you get out of your timeshare contract. Home | Resort Owners' Coalition - ARDA-ROC Warning Concerning Timeshare Exit, Rental, and Resale Scams List of Non-Affiliated Companies. If youve been targeted by a real estate or timeshare resale scam, there are several steps that you can take to protect yourself and potentially recoup money that may have been lost. The Justice Department on Tuesday sued five individuals and 11 firms allegedly behind a timeshare fraud scheme that scored more than $90 million from victims . If you receive a phone call, an e-mail, mail or other communication regarding your timeshare, keep in mind the following tips and warnings: More information about advance-fee schemes and other online frauds can be found at www.fbi.gov or Investor.gov, the SECs website for individual investors. He was given the runaround when he attempted to get his money back. With so many scams targeting unsuspecting consumers, its more important than ever to be vigilant and informed when making decisions about your real estate property. But timeshares arent for everyonehence the large number of incredibly cheap timeshare resales on the market. "The creditor doesn't care that you bought a timeshare," Rogers says. Read through these frequently asked questions to see how easy reselling timeshare can be when you work with a smart and reliable timeshare resale advertising company like Sell My Timeshare NOW.