Warning Concerning Timeshare Exit and Resale Scams
Dear Valued Owner,
Sadly, much too often we hear of Owners that they have been defrauded of thousands of dollars by a timeshare exit company and/or resale company, which made false promises of selling or renting their timeshare. While state Attorney General Offices have been actively prosecuting timeshare exit and resale companies, the principals behind these timeshare exit and resale companies typically resurface as a new company. Only a few victims ever receive any compensation for their financial loss due to timeshare exit or resale companies.
Here are a few helpful tips and red flag for identifying timeshare exit and resale scams:
- Unsolicited Contact – beware of unsolicited calls, emails or correspondence from someone offering to sell, dispose of or rent your timeshare.
- Interested Buyer – beware of calls or emails claiming to have an interested buyer for your timeshare;
- Corporate Representative – beware of anyone claiming to be a representative of, or to be working with your resort, Association or management company, that doesn’t have the correct caller id, email or letterhead.
- Too good to be true – beware of any offer that sounds too good to be true, these offers are usually a scam.
- Upfront Fees – beware of requests for upfront fees, administrative fees, advertising or closing fees prior to completing a transfer or rental are usually a scam.
Associations and management companies constantly post warnings about timeshare exit and resale companies on their websites. We urge you to read these warnings and to be diligent when you are approached by a timeshare exit or resale company.
Don’t be a victim to timeshare exit and resale company scams. Should you be contacted by a timeshare exit company, resale company, or anyone claiming to be a representative of your resort, Association or management company we encourage you to contact your resort, Association or management company to confirm the veracity of any proposal or offer being made to you.
We wish you and your family many more years of happy memories!