FTC Warns of Timeshare Resale Scams

timeshare scams
If you own a timeshare and have attempted to sell it, you already know that it’s a far more difficult process than you ever imagined it would be. The main issue is that there are far more of these vacation resort units on the market than there are buyers who want them. A main factor in all this is that as a timeshare resort gets older, the yearly maintenance fees usually rise. This makes the older resorts financially less desirable than newer ones for those few people who are in the market to buy. Which would you prefer — a newer resort with lower maintenance fees, or an older one with higher fees? What it all comes down to is that trying to sell a timeshare is quite difficult, e...

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11 Responses to FTC Warns of Timeshare Resale Scams

  1. laurie66 says:

    Timeshares are one of the biggest financial mistakes that a person can make. To get scammed beyond that is just icing on the cake.

  2. Steve Luba says:

    Nice to see that in Florida, the Florida Attorney General says annual complaints about timeshare have dropped from 13,000 to about 2,000 because of legislation enacted in Florida in 2012. Must be working!

  3. david says:

    I never understood the fascination people had with time shares. I think it makes them feel wealthier than they really are — like a vacation home when they really can’t afford a vacation home. One of the biggest legal scams out there in my opinion.

  4. Sophia Johnson says:

    Timeshare fraud has been around since the timeshare idea was created, but they increase during poor economy. When times are difficult, timeshare owners are stuck with properties they can´t travel to or even afford. Desperate to recoup some money to pay for bills, they can easily become victims to scams artists pretending to be their timeshare salvation who will take upfront fees -as much as five number figures in some cases- but fail to fulfill their promise.

  5. Lisa says:

    The one piece of advice that seems to be missing from all these timeshare resale scam stories is that timeshare owners MUAT avoid doing business with any entity that initiates contact.

  6. Grace Evans says:

    This fraudulent sales practice is commonly used by sales managers as well as timeshare developers; however, they are very clever and very well protected. A common way to offer the resale of existing timeshares is to hire other companies to take charge of the sale or resale (paid by customers).

  7. Olivia Wild says:

    Buying a timeshare under the impresion you will save money on the long run on travel expenses such as airfare or cruises equals to being a victim of timeshare fraud. Timeshares will barely provide you a small discount on accomodations and that´s it. Timeshares will not provide you, in most cases, any discounts on your vacation expenses.

  8. Melanie Brown says:

    Thousands of International travelers, particularly from the US and Canada, have fallen victims oftimeshare fraud while vacationing in Mexico. Resort developers hire skilled salesmen to represent their timeshares as many different attractive packages, such as financial investments, deeded properties, or vacation clubs, just to increase their sales.

  9. Natalie Wilden says:

    Think about this; If timeshares were good enough, Why would any resort give you a tour and a free breakfast to get you to attend their sales presentation?

  10. Tiffany Cox says:

    Many people purchase a timeshare expecting it to be a great acquisition and a good investment. But timeshares need to be looked up as a purchase, instead of an investment. By the time the maintenance fees and the assessment fees start to pour in, they become conscious they got their selves into what could be an exorbitant trouble, full of debts, headaches and unnecessary problems.

  11. Patricia Gilbert says:

    Unfortunately the timeshare industry is riddled with scam and fraud companies that are linked with each other. Many of the rental or resale companies that the timeshare developers recommend charge upfront fees, and are another scam. If the company is willing to work on a commission basis for a successful outcome, then they are likely reputable, but if they ask for fees in advance, this is the first sign to walk away.

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