Timeshare Resale Fraud - Consumer Tips

Be wary of the Too-Good-To-Be-True Claims When it Comes to Resales

The company's salespeople are likely to claim that the timeshare resale market in the area where your resort is located is "hot" and that they are being overwhelmed with buyer requests for your resort. In some cases, the salespeople may even tell you that they have a buyer waiting in the wings who wants to buy your timeshare. Be skeptical of these types of claims. Remember the timeshare resale market is likely not "hot" and it is unlikely that there is a buyer ready and willing to buy your timeshare.

Consider Other Options When it Comes to Resale

You may want to try selling your timeshare "by owner," by placing an advertisement in a newsletter or magazine read by potential timeshare buyers. Or you may want to list your timeshare with a licensed real estate broker in the area where your resort is located. As an alternative, you could contract with a company that allows you to exchange your timeshare for a unit in a different area.

Question Why You Have To Pay The Up-Front-Fee

Most timeshare resale companies require you to pay a hefty advance listing fee before the advertising/marketing of your timeshare can take place. You should question what the fee is for, and what the company’s refund policy is regarding these funds. In the alternative, you may want to opt for a company that will wait for its fee until the resale of your timeshare occurs.

More tips:

In addition, consumers should be cautious of any business that may request an advance fee prior to performing any services. Furthermore, no government entity will require a consumer to pay money up front in order to assist that consumer in pursuing a fraud claim or prior to making attempts to secure a refund for a consumer. Also, please be aware that the Florida Office of the Attorney General does not contract with any third party companies to assist in obtaining refunds or restitution for individuals. Should any company imply that they are working with the Florida Office of the Attorney General or at the request of this office, consumers are encouraged to file a complaint.

Also be suspicious of any business that requests fees be paid by certified bank check, cashier’s check, money order, or wire transfer. These forms of payment leave little recourse for the consumer should there be any difficulty with the business providing their services as contracted.

Consumers should be cautious of recovery room scams. Please visit our consumer protection page to learn more.

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