Timeshare Resale Scams: Still A Thing

Haven’t we stopped timeshare resale scams yet? The answer, sadly, no.

You’d think that with all the press about timeshare resale scams, they’d be a thing of the past by now. We’ve talked about them time and time again. But in fact, timeshare resale scams are going strong. So, let’s review. Here’s what you need to know about timeshare resale scams in 2019.

Timeshare Resale Scams Overview

Here’s how timeshare resale scams work. First, you buy a timeshare. Then at some point, your timeshare no longer works for you and you want out. Unfortunately, getting out of a timeshare is more difficult than it sounds. You try everything but you’re stuck with timeshare that’s costing you money and causing you stress. You’re now vulnerable to timeshare resale scams.

The Fairy Tale

Resale scammers contact desperate owners like you. They tell you a story that’s really more of a fairy tale. It goes like this: “We have a consumer who is very interested in buying your timeshare right now! If you’re looking to sell, we can handle this right away. You’ll be free of your timeshare forever! All you have to do is pay a fee to secure the deal. And that’s easy, too! Just wire the money to this off-shore account and we’re set. Or if you want, you can send us some unsecured gift cards. But no matter what, you have to act fast. This buyer wants to close the deal fast and we don’t want you to lose them!”

You can see why people might get excited at getting out of their timeshare so easily. You might even overlook the weird payment instructions because you’ve just had it with your timeshare. But here’s where the fairy tale turns into a horror story. You pay your fee. And the prospective buyer is nowhere to be found. Or maybe there’s an additional unexpected fee. So you pay another fee and another. But the buyer never buys.

The Reality

The buyer never buys because they didn’t even exist. The company specifically targeted you because they knew you were desperate enough to believe the lies they told you. Then, once they have your money, they stop returning your calls. Maybe they even go out of business and you’re left with nothing. And the worst part? Your money is gone but you’re still stuck with your timeshare.

How To Protect Yourself

If it sounds too good to be true, it probably is. Timeshare resale scams are ruthless, so you need to take steps to protect yourself. Here are some tips for getting that happy ending.

• Watch out for anyone who contacts you directly.
• Research any company you’re dealing with very carefully. Check their reviews on the Business Consumer Alliance, Google Reviews, or other reputable source.
• Always get everything in writing.
• NEVER send money to an off-shore account or through gift cards. These methods are hard-to-impossible to trace and isn’t the way a reputable company does business.
• If you see something, say something! If you’ve been the victim or if you’ve been contacted by a suspicious business, speak up and report it to the FTC.

Are you desperate to get out of your timeshare? Then steer clear of resale scams and consider using a reputable timeshare exit firm like Primo Management Group. We help people like you get out of your timeshares safely, ethically, guaranteed. Contact us for a FREE no-risk consultation. No shady wire transfers, we promise!