Beware of the Timeshare Resale Scam aka the Timeshares For Sale Scheme happening these days. If you're asking yourself 'How to sell a timeshare?' we hope it's not too late. We'll show you how the scam works and how to report it.
This scam is perpetrating mostly in North America. Let's say you didn't really use the timeshare you bought four years ago and are looking to sell it. You check the best places with timeshares for sale listings and take the plunge. You post an ad online and one day you receive a call or email from a company that deals with timeshares. How does the scam work?
Watch the video below to see in action the Timeshare Resale scam exposed:
The company that calls you says that they have a client for you. Happy to possibly get rid of it, you agree to their terms - including a processing fee or a title search fee (both usually a few hundred dollars each). They tell you the paperwork will be done in 14 to 20 days.
When you call back after this period you will get a "number not in service" notification.
Research very well how to sell a timeshare, whether is fully yours or shared with friends. Visit specialty pages and forums or check recommendations on websites with timeshares for sale. Don't just fall for the official-looking name and logo of the company the scammers use. As realistic as the paperwork might look, always research online their reputation and past clients.
If you want to be able to get rid of timeshare legally make sure you spend a good amount of time preparing for all the obstacles. Alternatively, although it is more expensive, you can consult a lawyer who can help you with your timeshare.
Last but not least, make sure you check the company profile on BBB, if they have one. Get out now and let's see how you can report the scammers.
Make your family and friends aware of the Timeshare Resale scam by sharing it on social media using the buttons provided. You can also officially report the timeshare scammers to the Federal Trade Commission using the link below:
How to protect yourself more:
If you want to be the first to find out the most notorious scams every week, feel free to subscribe to the Scam Detector newsletter here. You'll receive periodical emails and we promise not to spam. Last but not least, use the Comments section below to expose other scammers.
(with video below) This is one of the most common travel scams, especially when ...
Did you receive an e-mail or a phone call from somebody claiming to be from ARRA...
Learn how to easily identify if the profile of the person you're dating online is fake....
The engine is the heartbeat of every car and it is also one of the most expensiv...