Timeshare Scams on the Rise: Alert for Consumers who Own Timeshare

Share Article

Avoid getting ripped off by fraudulent timeshare resale firms.  Help others from getting scammed with TimeshareMarketplace.com's New Fraud and Complaint Center.

TimeshareMarketplace.com

Do not get involved with any timeshare resale company who asks for an upfront fee for any services to market or sell your timeshare.

Timesharemarkplace.com has officially launched a new section of the content rich website that is aimed specifically to help timeshare owners who have had bad experiences with timeshare resale firms. The Timeshare Complaint Center allows users to share their experiences with other owners of timeshare properties, with the goal of educating anyone looking to learn about timeshare marketing and resale.

As many timeshare owners can relate, the timeshare industry is one that is extremely susceptible to scams and fraud. However, timeshare owners are starting to fight back against these criminals who have stolen anywhere from hundreds to thousands of dollars from them. The most important way owners are fighting back is through communication on the Internet. A necessary resource that can be helpful to victims of timeshare fraud is TimeshareMarketplace.com’s unique Fraud & Complaints section.

Timeshare fraud is so common that the Better Business Bureau has listed it as number four on their top ten list of online scams in 2011. In addition to the BBB, the FBI has released numerous warnings advising timeshare owners to be cautious of whom they give their money to, in the hopes of selling their properties.

The most common scam in the timeshare industry revolves around one thing: empty promises. Timeshare resale companies use aggressive sales tactics in order to pressure owners into giving them a large sum of money to sell their property. One sales tactic they use is promising the owner a quick sale with no obligations, and some will offer them a tax deduction. More conniving companies will even go to the extent of inventing a fictitious buyer interested in their property, and waiting for a response from the owner of the property. After the fraudulent company convinces the timeshare owner to sell with them, the owner is then given a long list of fees that can include: marketing fees, appraisal fees, and closing fees. After the owner pays these fees, the company disappears along with the “buyer” that was pressuring the owner to make the sale in the first place.

A more recent scam that timeshare resale companies are beginning to implement is an empty promise to market an owner’s property. They promise that they will effectively market the property on the company’s website to thousands of potential buyers. After the owner pays the associated marketing fees, an advertisement for their property appears on a website which receives absolutely no traffic. In essence, the owner has paid for nothing. This is the fastest growing timeshare scam in the timeshare industry due to the fact that the government is starting to crack down on timeshare resale fraud. If you have been a victim of a suspected fraudulent resale firm, submit a timeshare complaint to warn other owners of a possible scam.

Although the government is beginning to realize the magnitude and abundance of this instance of fraud, progress on legislature regarding timeshare scams is starting out slowly on a state by state basis. Florida has only just recently taken the steps to pass a law requiring resale companies to provide the seller with buyers’ personal information such as names and phone numbers. It also gives the timeshare owner the option to cancel their listing with the company within a 10 day period. With this being said, the only way for timeshare owners to protect themselves from timeshare fraud is through education.

TimeshareMarketplace.com is a 100% free website where property owners can sell timeshare. This unites buyers and sellers to not only negotiate sales and rentals, but to also report instances of timeshare scams and fraud. Informing the timeshare network of fraud is extremely important to TimeshareMarketplace.com and the timeshare owners’ community.

People who have unfortunately been victimized by a timeshare resale company can fill out and submit a detailed form explaining in depth the circumstances of their bad experiences. In addition, there is a search box where timeshare owners can search for specific companies to see if any complaints have been listed regarding their services.

It has been said thousands of times, and here it is again: Do not get involved with any timeshare resale company who asks for an upfront fee for any services to market or sell your timeshare. Instead take few minutes of your time and list your timeshare free at Timesharemarketplace.com.

To report a timeshare scam or fraud or for any other timeshare needs, please visit TimeshareMarketplace.com

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Ben Meckler
Visit website