How to Avoid the Top 4 Timeshare Resale Scams
January 20th 2022 Posted by: SellMyTimeshareNow SMTN Category: For Owners

How to Avoid the Top 4 Timeshare Resale Scams

Timeshare scams are out there, and they are more common than you may think. With so many advertisements on social media, radio, and TV that target timeshare owners, it can be hard to know who you can trust.

At face value, these companies are all trying to reach owners looking for selling solutions. Timeshare resale scams so often occur because owners are desperate to get out of their timeshares and they may not see the full picture.

Don’t let yourself get caught up in a scam! Stay aware and know that there are legitimate companies out there that want to help you legally get rid of your timeshare for good.

How to Spot Timeshare Scams

When seeking out solutions to get rid of an unwanted or unused timeshare, it is important to have your wits about you and keep an eye out for red flags. If you are navigating the process with a sharp mind, you’ll have no issue spotting something that seems sketchy or “too good to be true.”

Take a closer look at some of the most common timeshare resale scams and the many red flags that often come with them. This will help you better navigate through your timeshare resale options.

4. “We Have a Buyer Waiting”

If you have a timeshare you are looking to sell, it’s likely you’ve been targeted by ads on the Internet that claim to have a “buyer waiting.” These are false claims.

It is one of the most common timeshare scams because it attracts owners who are desperate to unload their vacation ownership properties. Many times, owners will submit a payment upfront to these companies and then never hear from them again.

If you don’t have your timeshare advertised anywhere, you can be sure that there is no mysterious buyer that wants your timeshare. Don’t respond to these messages, and most importantly, don’t provide any payment information.

3. Unsolicited Phone Calls

Another one of the top timeshare resale scams is cold calling. Receiving an unsolicited call related to your timeshare and timeshare resale is a huge red flag.

It’s very important to only communicate with companies that you initiated contact with. If you have previously reached out to a resale company by filling out a form or making a phone call, it is perfectly normal for them to reach out to you. But if not, be sure to not provide any personal information!

Any legitimate timeshare resale company will never reach out to you without you contacting them first. This includes the specialists at SellMyTimeshareNow.com. If you receive an unsolicited phone call from someone pretending to be us, contact us right away.

2. Requesting Untraceable Forms of Payment

If you find yourself trying to work with a timeshare resale company that requests an untraceable form of payment, cease contact immediately. This includes forms of payment like money orders, wire transfers, and money packs.

The problem with these forms of payment is that they can’t be refunded even if you are found the victim of a scam. These payments are also typically requested with a sense of urgency and are “required” to get your timeshare sold.

Any legitimate company will let you pay with your credit card for their services. If there’s ever any doubt, request for the company’s contract or terms of service in writing.

1. Questionable Promises or Guarantees

When signing up for any service or entering into a contract, it’s crucial that you read the fine print. This is especially important if a company representative is promising refunds or money-back guarantees. A verbal guarantee is not a true guarantee.

We at SellMyTimeshareNow.com do offer a true money-back guarantee to all customers, and you will find that clearly stated in our terms of use and in every contract.

There are also so-called “timeshare relief” companies that promise to get you out of your timeshare or cancel your mortgage. And often-times they’ll “promise” you a money-back guarantee as well.

These fraudulent companies will try to convince you that the resale market is no good and use high-pressure tactics to get you to pay them thousands for “superior” services. Not only are their services non-existent, but the resale market is an incredibly viable and legitimate way to sell your timeshare.

Reporting Timeshare Resale Scams

If you think you are in contact with an illegitimate company that is trying to scam you, be sure to report it by contacting the authorities. If you have given money to one of these companies for services you have not received, file a lawsuit.

Be sure to keep a paper trail of any communications made and copies of any receipts or contracts. For more information on timeshare resale scams, check out our timeshare scam resource page.

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