Have You Fallen For A Timeshare Resale Scam?
Chances are that if you are reading this article you have or are weighing the consequences of signing up for one of these scam programs. In this article I will be taking you through the ins and outs of these resale programs.
I will be showing why this kind timeshare scam will cost you thousands like it did for me and the best way for you to sell your timeshare. So if you are looking to resell your timeshare read on.
What is a Timeshare Resale Company?
A timeshare resale company is basically a listing site that advertises you timeshare on their network, for a fee of course.
Back over a few years ago, I was desperate to sell my timeshare. Then one day I heard an ad on the radio talking about Timeshares Resale Company. So I called and talked to them about selling my timeshare. They informed me that the fee would be $600. A bit high but after long consideration I decided to do it anyways.
My Results With Signing Up To Timeshare Resale Company
After signing up I figured within 3 to 6 months I would easily have my timeshare sold or at least a few offers on the table. After 6 months I didn’t even have so much as a phone call. I hadn’t heard a word out of them.
So I decided to call and get some answers. This was a task in itself. The company explained to me that they just advertised my timeshare in their database and were not actually real estate agents. They did nothing to help sell my timeshare property.
Why Timeshare Resale Companies Are A Scam
The reason why timeshare resale companies are a scam is because once they get you to pay their big upfront fee they don’t have any kind of reason to deliver a result you. Think about it. If a real estate agent was selling your home and he couldn’t sell it would he get paid? Not a chance, but with timeshare resale companies they collect the fee upfront because even they know that they can’t even sell your property. This is a lesson I learned only after I fell for this scam a second time.
The Timeshare Market Pro Scam
Once you sign up for one of these timeshare resale scam sites they all want in on a piece of the action. To this day I still receive calls from these scammers asking me if I would like them to sell my timeshare, and I don’t even own it anymore. However, I got a call from a guy named Doug almost a year after I signed up with timeshare resale company. He worked with another timeshare resale scam company called Timeshare Market Pro. He proceeded to explain to me that my current timeshare resale company would never sell my timeshare and that their company could. He explained that they will bring in potential buyers to show off my timeshare to. So I gave it a shot and signed up, again spending nearly $500 to get on this list. Timeshare Market Pro also informed me that my timeshare market value was worth three to four times what I was trying to get out of it. Over the next 6 months I waited and again got nothing. So again I called the company back was connected to their operator who informed me that one of their representatives would call me back and update me on the status of my timeshare. They never called back. At this point I realized I had been ripped off again by another timeshare resale scam.
What I Learn About Timeshare Resale Companies
- Never pay upfront fees. Altogether I paid around $1100 to fees to these companies and have seen nothing in return. You could say that Timeshare Resale Companies are the biggest legal scam that I know of.
- Don’t believe what they tell you. These companies will tell you anything just to get you to sign up. As with the Timeshare Market Pro Scam I was told I would see several bids within a month. They also promised a bunch of extra free stuff just for signing up. I never saw either of these.
- They use hard selling tactics to get you to buy. Most of these companies will also use hard selling tactics to get you to buy. They will keep you on the phone as long as it takes to get you to buy. Don’t fall for it, tell them you sold the timeshare and hang up the phone. This way they won’t call you back.
- They don’t REALLY sell your timeshare. Timeshare resale companies don’t really sell your timeshare for you; they just list it like an ad. Here’s the good news though you can sell it for a lot cheaper on other ad networks for next to nothing. I will explain in the next section.
How To Sell Your Timeshare Yourself
Follow these steps and you should be able to sell your timeshare. You may not make what you got out of it originally but at least you won’t have to deal with those maintenance fees, interval fees and any other charges. In order to sell your timeshare you need to understand that your timeshare resale value will never be what you bought it for. In most cases you will only get about 10 cents on the dollar of your original purchase price. I know this is hard to accept but the quicker you can do that the quicker you will be able to sell your timeshare off. Last but not least before I start if you have a mortgage on your timeshare you will have a more difficult time in selling your timeshare. If you can at least get out of your timeshare what you still owe on it I would take it. You’ll be lucky to get more than that.
So if you’re ready and accept what I’ve told you read on.
- Call your timeshare resort. Tell them you want to sell your timeshare and would like the necessary paper work to do so. At this point you can also ask them any questions about what you should do if you find a potential buyer. This way you can make the transaction smooth and quick.
- Advertise your timeshare. I would start with Craig’s List and eBay. Craig’s List is free so I would start there first. Keep your price low so you can attract a lot of bidders. If that doesn’t work try eBay. You will have to pay to advertise your timeshare but it will be a lot cheaper than those timeshare resale scams I mentioned earlier.
- What if you can’t sell your timeshare. When you’re trying to sell your timeshare some locations will sell better than others. For example Florida has a tough market to sell your timeshare in. On the other hand Hawaii is much easier to sell in. With limited supply and beautiful view it’s no wonder these resorts sell a lot easier.
- Ask for a buyback option. If you’ve made it to this point you may be desperate to sell your timeshare. With no bids and the maintenance fee due soon, call your timeshare resort back and ask if they have a buyback option. This is where the actual resort buys your timeshare back for a fraction of the price. In my example I bought my timeshare for $4500 and did a buyback option 5 years later and got only $400 back for it. It was a rip off but it was better than paying another year of maintenance fees.
Have You Ever Had Luck With Timeshare Resale Companies
I have never heard of anyone having any luck with any of these Timeshare Resale Companies like Timeshare Market Pro. So I will challenge this, if you have ever had any luck with any of these companies leave a comment and tell me about it. I would love to know if one of these timeshare resale scams have ever worked.
Chris
Well said Jodi.
Tom, I am no expert in timeshare and have recently been scammed. I hired http://www.timesharescam.com and will wait and see if they are legitimate. I will let you know if they are trustworthy.
I know about timeshares what I was told in the sales presentation and what I have read over the internet so I am not an authority in this field. But something that has already been drummed inside my ears now is that YOU NEVER PAY FOR SELLING, RENTING OR CANCELLING A TIMESHARE UPFRONT. I learned this the hard way and now I am $18,000 + 899 out of pocket for timeshare cost and broker or tranfer fees.
If you want to know more about what I have learned visit this page:
http://www.timesharescam.com/timeshare-cancel/timeshare-resales-timeshare-frau-6
Let me know if I can be of any further assistance.
Mark
Hey concerned, you obviously worked at a scamartist “company.” Just because you didnt see timeshares sold, doesnt mean that they dont. So, before you go slandering all companies as a whole… remember who you worked for and ask yourself this… why did you stay there for any amount of time if you knew that the “company” you worked for was not legit. Look at my post on August 9 and you will understand a little better of why yours didnt work.
UPDATE,
Timeshare Solutions ( http://www.timesharescam.com ) negotiated the cancellation of the contract but with no refund. I asked to see if they could negotiate a partial refund. I was told they will try and will let me know.
I will keep you posted.
NEVER PAY UPFRONT TO RENT, RESALE OR CANCEL A TIMESHARE SERVICE. YOU WILL GET SCAMMED.
Chris…..have you heard of a so-called timeshare company by the name of Corporate Resorts Specialists which apparently operates out of Las Vegas?
Berry, I have looked into it but have not found anything on the net about Corporate Resort Specialist. I would like to get some feedback about this company since some of my other readers have been commenting about this company being a scam and a ripoff as well. Please share your stories if you have some.
Corporate resort specialists is listed with BBB, las Vegas as corporate resort usa.
Their BBB rating is F.
Re: Corporate Resorts Specialists, the BBB in Las Vegas graded this outfit as an F. My experience indicates a Z- would be more appropriate.
Anyone ever had any dealings with Innovative Resorts. Claims to have a buyer for our time share and says these people are willing to pay over $100,000.00. We had to pay $2,000.00 upfront for the “title search”. I think we’ve fallen into another scam. Innovative was in FL and is now located in NY…wonder why??
Don’t do it. Anyone claiming to pay you an outrageous amount of money for your timeshare is a fraud. Try to get your money back if you can.
BE Careful also about companies who say they will BUy your timeshare to RID you of the time share. Some of their sales men charge absorbitant rates and they show you an income statement for 5 years on how much you will save.. Of course you will save on maint , fees. but they cahrge you 1,500- 3000 upfront and they say that is used For closing fees. When i called my Time share they tols me my time share only costs 200 for closing fees. They want to make money on the time share to cover at least 3-4 years of main fees that you pay upfront if they indeed are legitimate and of course the salary of the salesman. That is too ,much! JUST BETTER IF YOU CANT SELL IT DONATE IT TO A FRIEND OR YORU CHURCH!
Sheila,
I agree never pay these timeshare resale scammers a dime upfront. I’ve fallen for a couple of these scams and have only been only to ever get my mone back from one of them. I like the idea of donating to your church as well, however they would have to be willing to cover the maintance fees. Thanks for the advice.
Only time you should pay a fee is for a classified type listing which normally runs under $50 and some are free. Never pay a company a large sum upfront and never agree to their pay us later. Basically they will take whatever they can from you then say they will take the remaining advertising balance after they sell your property. Complete and utter crap, most timeshare resale companies will never sell your property and they just wanted to boost you up in an effort to collect some money from you instead of nothing. Scams are popping up everywhere so be advised.
Timeshare resale scams is my website, read up on other tactics I talk about by these scam companies and post your property for FREE!
Dear Chris… Perhaps you’ll enlighten me… here’s what I think after being involved in resales for the last 3 years.
I really think it is very unfortunate that timeshare owners have become the prey of unscrupulous companies and individuals. Clearly these people have taken advantage of the situation, haven’t they? There is definitely a need for resale assistance out there mostly due to the fact that developers have ignored the issue right from the start and still do very little to address the issue of resale. That inertia has led to a weakened resale market with huge gaps in pricing, an overwhelming supply that continues to grow with every increase in maintenance fees all of which continues to hurt timeshare owners and the product on its own. In my opinion, as long as the product is being sold without a viable built-in ‘exit’ solution for owners, consumers will continue to be at risks. Unfortunately, the major part of the problem lies at the source and very little is being done about it. We built our website to educate new buyers in the hope to promote timeshare resales. We believe that only a strong resale market offers a viable solution to timeshare owners at this time. Offering a successful platform to sell, rent or exchange timeshares is the only way to restore some confidence in the timeshare products. However, it saddens me to realize how the industry at large does very little to help with this situation and I continue to see timeshare owners locked-in in a financial burden that takes away the fun out of vacation and further jeopardizes the demand in resale for some products, anyway. In my opinion, I cannot foresee the future without a major change be brought to either the product or to the timeshare industry’s regulations to eliminate long-term ownership. If timeshare resale continue to struggle with very little demand, I think long-term and perpetual timeshare ownership will have to offer some kind of built-in exit or buy-back programs by resorts and developers. Until then, timeshare owners will unfortunately continue to pay the price.
Given the current state of the current timeshare resale market, do you think governments’ consumer agencies should step in to further regulate timeshares, or do you trust that the industry is willing enough as a whole to help alleviate the situation? Let me know what you think.
I’ve always been against government involvement in anything. However I believe if timeshare companies would offer an exit solution where people would be able to get a decent amount of money back from their timeshare people would be more viable to buy. However I was able to get my timeshare to buy back my unit but I only got back around 9 cent on the dollar. In the end I just don’t believe the timeshare industry is going to do anything to fix this problem.
Thank you Chris for your response. I agree. I don’t like to involve government either but gradually we are beginning to see stronger regulations from consumer protection agencies. In Europe they have recently reviewed and amended consumer protection laws to increase the cooling off period to 14 days and impose built-in renewal options for long-term vacation club memberships. That would be interesting to know which resort paid you back for your timeshare and how you managed to get that. As a general rule, they do not buy back let alone take it back. At best, owners have to pay a fee, forfeit the total amount of their initial purchase and cover all the fees up to date… let me know so others can benefit from it. thanks.
Beware…..Corporate Resorts Specialists is a scam.
Lise the resort I had a timeshare through was the Caribbean Palm Village in Aruba. After several emails telling them that I did not want to pay the maintainace fee I finally asked them if they had a buy back program they said they did but I was not going to get much back. I originally paid $4500 and got back around $400 when they bought it back. I was just happy to be rid of it. It might have been just luck that I got rid of it but it doesn’t hurt to ask.
THEY ARE A SCAM. One such company tried to get me to wire 3,000 dollars to mexico for taxes that they promise to pay back at closing. Dont ever send them ANYTHING. I was smart and just wasted their time as much as possible. If I went through with this deal it would have cost me 3 Gs. Hint # 1 A cold call. #2 they offer more money than its worth #3 pretty contracts and web sites with toll free numbers. The rip off is when you wire money. DONT EVER DO IT
can anybody help me . we have had a letter about somebody wanting to buy our holiday .the firm is called international reclaim consultancy s.it is not a time share but we was involved 4years agoin a scatch card and was told about holidays we paid a lot of money on the under standing we would get a return in 4yrs .which we have never got back. we are now getting phone calls fron companies wanting to buy our holidays they are asking for 658pounds for fees . so as anybody had any succsess in this scam thankyou sheila
My poor mother who is 61 years old, just fell for the timeshare scam. The company was International Financial Management. She has lost $3,000. We live in SC and some of the call were supposedly from Florida and Washington, DC. They had a “legit” website that said they had been in business since 1947. I was wanting to know, where is the FIRST step we need to go in maybe getting her money back…..So sad that people would do this!
Thanks.
Carmon, the chances of you getting your money back are slim to none, because the company operates as a scam. However I was able to get my money back from from a timeshare resale company by posting a page up about their company being a scam on the internet. I did this by by getting the page ranked in the top 10 in Google under their company name, by doing this I gained their attention quickly but if the company is a scam company it won’t work because reputation means nothing to them.
Good Luck.
Hello everyone,
I’m terribly sorry to hear about your experiences. Unfortunately, 99.9 percent of timeshare resale companies AND “recovery” companies are fraudulent. A large portion of them have been shut down and quite a few others are under investigation by the attorney general. The worst part is that some of the owners of the resale companies actually own the recovery companies as well. It’s absolutely upsetting. I work for one of the only companies in the nation that actually gets money back for companies. Do your research!! And UNDER NO CIRCUMSTANCES, give a company money up front. A legitimate company will never ask for money before services have been rendered.
Anna: Great comment, I agree with you that most timeshare resale companies are a scam. How do your company help others get their money back from the fraudulent companies?
Beware of Buy and Sell Timeshares. buyandselltimeshares.com The salesperson Denise told me that I could get a very high price for my time share, that she sold one for more than what I listed mine for. She told me to keep my price high and not to lower it, that she thought I would definitely get alot for the time share. According to the company policy, the sales people are not supposed to tell you what to sell it for. They deny any responsibility. I would not have listed it if I knew that I had no chance of selling it. I have had 0 contacts or offers. And this was before the recent economic issues. I have reported them to the BBB and also with the Florida Attorney Generals office. They are very unethical.
Any comments,results, complaints on CITY RESORTS/las Vegas on timeshare sales??????
thanks for any help!
How do i cancel a contract made via over the phone with timeshare by owner? Do i call timeshare by owner or cc company?
We have been through two scams with no results so I contacted the state Attorney General’s office and files a formal complaint. Their rep tried to get back some money from one of the companies but to no avail. They informed us that as far as they know, there is NO WAY so sell a timeshare. I guess that tell it all. You can stop payment of maint fees or walk away but no way to get any money out of it.
Does anyone know of ALL REALTY SERVICES INC in Kissimee/Orlando? The salesperson said he has been selling timeshare properties for 20 years. I’ve already been stung by another company that took $2000, provided a “contract” for sale, and promptly disappeared.
I’d like to comment in response to Sue above reporting the Attorney’s General rep’s comment saying ‘…. that as far as they know, there is NO WAY to sell a timeshare’… what a silly thing to say. I have to say that although it may take some time to sell they do re-sell. Yes there are scamers out there and please use common sense when solicited. Legitimate resale companies do not solicit, have a decent website, advertise realistic prices for your TS, promote the benefits of timeshares… and, do not charge 4-digit-fees, promise or guarantee a sale… which no one does other than manipulators… I’m very sorry to hear that an entity such as the Attorney’s General office is spreading such negative comments about Timeshare resales… and how does that make you feel as a timeshare owner to hear that coming from them? At the end, it only hurts the numerous timeshare owners who are in great needs of assistance in selling their programs. This is the kind of comments that hinders the timeshare resale market as a whole. There is a demand for such products… it just happens that the supply is overwhelming these days due to our past global recession (especially in the US where lots of owners have put them up for sale…) I believe that eventually when inflation will bring the hotel rates back to where they were in 2007… consumers will look at the alternative timeshares offer when it comes to guaranteeing vacation time with loved ones on a yearly basis.
Please stop spreading negative feedback about timeshares…. in the end, it only penalizes the individual timeshare owner. We believe resales is necessary to be promoted through education and pertinent information so consumers can understand the concept and make a sound decision as to what to choose, how to use and manage its vacation ownership. Let’s keep in mind that there are over 7 millions of people using timeshares yearly reporting a satisfaction rate of 82% about what they own… that should mean something, no? Timeshares are a vacation vehicle and resales make it more affordable and accessible to a wider specs of population and help families spend quality time together… that’s the bottom line!
I contacted the Property Owner’s Assoc for the timeshare for a Wyndham Property that I have owned for more than 25 years. I said that I wanted to GIVE the timeshare back -I wasn’t asking for a buyback- I just wanted to quit claim the property and never pay the maintenance fee for a timeshare that hasn’t been used in more than 10 years. I was told that I had to transfer the the title to someone that would pay the fee. I could never get out of the maintenance even by giving it away or giving it back. If I die, my children have to pay the maintenance until title is transfered. Oh, and if I don’t pay the maintenance fee, I will be turned into collections and they will ruin me. How can I get out of this?
Penny if they don’t have a buy back program I would suggest one of two options. First, try to sell it on eBay. However I suggest selling it a low price just to get it out of your hands. Otherwise if you still have valid weeks available you could try to rent those weeks out to cover the maintenance fee.
Penny, I just like to say that you just shot yourself in the foot by spreading words like these.
Developers do not get involved in resale and you were probably told so at the beginning. Unfortunately, timeshares are an emotional purchase made based on trust. The best way to sell timeshares is to sell it the same way it was sold to you. Keep in mind that even though you would advertise your timeshare for 1$ on eBay, that doesn’t necessarily mean it will sell. Why would someone spend a dollar on something they don’t understand how it works. It really is a product that requires the skills of a good salesperson. Even though you can explain how it works, will you inspire enough trust to your buyers for them to pay any kind of amount of money? My suggestion would be for you to find a legitimate resale company preferably in the area where you own and work with them. Do your research, legitimate resale companies as a rule give a lot of information about timeshares on their website and advertise realistic prices, and will provide help and assistance if you find yourself a buyer. Beware of extravagant fees but be prepared to pay a bit for the advertising and promotional services. Do your homework, your chances will be much higher than working on your own trying to give it away (which raises suspicions and sounds fishy to me to begin with..) Timeshares may take some time to sell but they will sell … and spreading the above words just reduces your chances of selling your program. I believe that only a healthy resale market will eventually alleviate owners from their responsibilities, will facilitate swapping programs among owners and help a wider range of first time buyers to purchase. For you own sake, please keep promoting timeshare resales positively! Good luck and do not despair!
Lise,
I have to disagree with you entirely. I have joined two timeshare resale companies to sell my timeshare and as a result ended up wasting thousands of dollars. Both companies where very highly reputable companies and in over two years of working with both companies neither of them sent one prospect or buyer interested in buying my timeshare.
I have a few questions for you Lise, how much does it cost for your company to list a timeshare since it’s obvious you work for one. On top of that how many timeshares do you actually sell for people, and finally what are you doing to promote peoples timeshares other than just pasting their listing up on the web?
What’s strange is that I never see a listing company disclose it’s fees or show people what they are doing to sell their timeshare. The truth is timeshare resale companies are nothing more than advertisers listing your timeshare Penny and are not doing anything to help sell your timeshare but just take your money and run. If a timeshare resale company is asking money from your upfront stay away or you will be their next victim.
Oh, dear, dear, Christopher, ssooooo glad you asked. Now, let’s really go to the bottom of the resale issue, shall we?. Remember my first comment on your blog about developers taking advantage of their members and plainly wondering if the government regulations should step in? … and this is where it gets so frustrating. It would be so easy for them to build either an exit program for their members or create some kind of entity like an authorized dealer or anything they could …putting their heads together trying to solve or alleviate the problem of resale and help their owners. They can’t even consider the resale issue with a ten-foot pole (I’m speaking generally here, some developers or resorts have an excellent support to their owners or members). We’re talking about imposing restrictions, high fees for ownership transfers, making it as difficult as possible for their owners to resell on their own, etc… (that’s all they could come up with in order to keep the value high!?!) it is as if they’re hoping the resale issue would go away on its own. The resale market has reached a terrible bottleneck and the negative reputation of timeshares is not helping either. When will we see pre-owned timeshares traded on a market like used cars? To me, the situation is similar as if you were buying a brand new car and within a few years you can’t trade it in… You’re stuck with a car rusting in your driveway… You think you could give it away to your neighbor, but he’s afraid of driving it, he doesn’t know how to drive it … most of it all, he knows that they’re not easy resell or have very little resale value !!! How good can this be to the value of the product to begin with? This is where I lose it! When are they (developers) going to catch on or do they really care?
I could go on and on with calls received from developers telling us not to advertise their products at such a reduced price… or saying that their members are not allowed to rent it! Daw … what was pitched on the table when they bought it…oh yeah you can sell … you can rent… what do you actually do for your members?.. if you do not want to see your product on the market at such a reduced value… hence your threat from resales… do something! In the meantime, what is there to do for timeshare owners, I might ask. Keep their vacation ownership rust to dust and keep paying annual fees or … advertise it with actual companies that can provide them with services to assist them with resale … trying to promote it the best they can with the little support they get from the industry as a whole. Yes… the only way it could sell or resell for that matter is face to face like it was bought in the first place and continues to sell … and continues to sell well I might add. And, as long as it continues to sell well, developers will keep their heads in the sand … and claim that resale companies (which creates a nice diversion from them by the way) are the worst scammers. Even ARDA came up with some kind of a ‘draft’ for legislation about resale companies… again, clearly avoiding the whole real issue all together… but what are they really prepared to do to solve the problem? THEY are AT the source of the problem… of course, there have been resale scams… like predators on prays… timeshare owners are left on their own with very little support from developers… and unfortunately that leaves them vulnerable and this is where the real scam is!
I know that does not really answer your question about our fees there… but what’s the point?
Lise,
Your car analogy is flawed…..at least if you have a rusted out untrustworthy car, at some point you own it and can haul it to the scrapyard. You DON’T have to keep making payments ad infinitum.
Hi Kelly,
thank you for your reply and comments. I agree, this is not the perfect analogy there… and the TS resale market is certainly not as flowing as the used cars’ market, is it?
On the other hand, this is exactly why everyone’s involved, owners, resort owners’ association, developers association, ARDA, CRDA, RDO, resale companies… and so on… must put their heads together and come to grip with this issue to solve it and make the resale market a viable solutions for everyone. In the meantime, we will continue to promote timeshare resales and all timeshare products for that matter… because, hey… you’re right… this is a product that does not rust!! happy trails!
i have been contacted by a company. they tell me they have a buyer at this moment who wants to buy my timeshare, which is in puerta vallarta. after speaking with them a couple of times about process, etc., they sent me a $$ figure for the offer. they have now sent me a contract for the sale, which i’m to complete, sign, notarize and fax back to them. there is an escrow account that is being established, and upon receiving the $$ into my account, i then mail the original copy of the sales contract and the deed document. there is no $$ upfront that i pay. sounds strange to me, has anyone heard of this approach yet?
Suds,
How did this company know that you had a timeshare for sale? If this company is contacting you out of the blue I would take extreme caution. However if this does work out in your favor that would be great. Let me know how this situation turns out.
Thanks for the comment.
Christopher
thank you for the comment as well. this company does this for a living, naturally, or so they say. they do have a decent web site as well, which may or may not make them legit. they told me they do a lot of property in mexico, with the potential buyer also a foreigner, and did say that does scare some people off. i am checking on them with the city and state they do business out of, so i should be able to get information on them in that manner. i figure that if i dont ever need to provide any funds upfront for comission, etc, i shouldn’t have too much to lose, possibly. and i would never provide any money up front. if towards the end of this they come back and say “we’re all set, all we need is x$$” then i’m immediately out. supposedly i get my $$, and then the deed gets mailed to them afterwards…. sounds too good, but i’ll see.
stay tuned, as i will follow this up
Last November, I was contacted by a similar company that wanted only money for title search to the tune of $1999.00. They sent a copy of a contract with a so-called purchaser’s name. They said they had the money in escrow and quoted a figure for the time share that would have left me with a nice profit. Within 20 days they had disappeared! Their name was I.I. International. The salesman’s name was Keith Baker.
M. Lyons: Defiantly sounds like a scam to me. Thanks the info.
Suds, This is an interesting situation. Would you mind to provide the name, website of the company. It certainly can happen. Lots of people are looking into buying specific timeshares. However, as Christopher has asked : how did they find you is a very good question. Did you have your TS advertised for sale anywhere? Was the price offered particularly high? These would give you some indications as whether or not it is legit.
Lise
yes this is very interesting. i’m supposedly waiting on the escrow account to be completed, or to get asked that i need to put up some level of funds. if the latter occurs, i’ll be stopping with the transaction, as i will not send the first dime to anyone in this process. so i figure i’ve got nothing to lose currently, and i’m a bit intrigued to see what happens. to account for how they found me – i was told the buyer is looking for units in 2 different properties, and one of them happens to be mine, so i can possibly see that. i have also asked for their business license number, which they must have to operate legally in the city of kansas city, and for one to operate in the state of missouri. they could still be legit without either of those, they’re just not registered. i’ve already contacted the city because i can find neither of those in the databases. so i’m doing my homework here. the name of the company is premier properties, and their web address is premierpropertyltd.com…… i’m actually having fun with this, and can’t wait to see where it goes, which will probably be no where fast, but that’s life…. if i can expose them if they’re scammers, then great, and if they’re ok, then fine.
Suds
Don’t be afraid to ask hard questions before getting involved any further. To me, the response you’re giving me about how they found you still does not satisfy me… how did they actually contact you. The fact you own can be of public knowledge in Florida, but in Mexico? Unless you actually advertised your name and phone number for your specific unit… normally, resorts do not disclose such information unless there’s a leak… How did they find you? When you say they’re not registered… again you’re assuming they may be legit. Ask them to give you references on a few owners (name and phone number) they actually transferred ownership for and talk directly to them. That should give you all the answers you need. Good luck… thanks for keeping us posted.
i’m not assuming they’re legit at all, they just haven’t done anything yet to prove either way. i’ve asked them to provide me their business license number, which is a requirement for both city and state. if they cannot do that, then i’m probably out. but that still doesn’t mean they’re not legit, that just says they have not registered to practice business in kc, or the state of mo. and incidently, after speaking to the licensing department in kc, they are going to pay their office a visit for a routine investigation, since neither of us can find a valid license in the database. keep in mind, i’m not sending anyone a red cent, so i’m not going to lose anything.
Be sure to keep an eye on your elderly parents who have timeshares! Going through this hell with my 80 year old father right now. Over a year ago he fell for two different companies offering to sell his timeshares. Of course they took an upfront fee and then never delivered. The third company not only promised to sell it, but said they would be able to recover the money he spent with the other companies. Of course, it was a scam as well. So a month or so later, out of the blue, another company calls and they want to recover the money he was scammed with all three companies. They tell him they need his bank account info and the password to his online account so they can search his bank records to find the companies he paid and how much, so they can recover that money. He gave them the infomation, they sent themselves a wire transfer out of his account and told him it was their fee to begin processing. Then several weeks later they tell him they have found his money and request a percentage of what they recovered, so he sends them a 4-digit amount via wire transfer. When the bank discovers what’s happened, they try to recover the wire but nothng doing. They close his accounts and open new ones, telling him it’s a scam and to not give them any more information. The scammers call him back, threaten him and then sweet talk him into giving them a blank check so they can send the money to his bank. Despite everyone telling him otherwise, he still believes these people are honest and gives them the check info. They’ve written 2 checks this way so far for thousands of dollars and hacked into his new account. They’ve called the bank pretending to be him, put their phone number into his bank profile so they can change his password at will. We’ve had to close his accounts again and have since moved to a different bank. They call him 6 – 7 times a day, using different numbers, but I have blocked most of them. I think he finally believes these people are scammers. He’s lost over $12,000 just to this one company alone. We are dealing with the police and a lawyer at this point but I doubt we will ever see a penny back. Beware of any and all companies saying they will sell your timeshare or offer to recover your losses from scammers – many times it is the exact same people. And they will continue to call you because they sell your information to other scammers. We will have to change all his email addresses and phone numbers to get away from these people.
Buttercup: These are the exact situations my site it trying to help people avoid. I feel bad for your elderly parents and that these scammers are taking advantage of people like this. This proves my point, NEVER UNDER ANY CIRCUMSTANCES PAY UPFRONT FEES TO SELL YOUR TIMESHARE.
Hi Buttercup… I do feel for your Dad and it really upsets me to see this industry being sabotaged by unscrupulous scams… especially taking advantage of the vulnerability of elderlies. I can’t help feeling sorry for timeshare owners left on their own to deal with this… not knowing what to do… who to trust and so on in order to re-sell their vacation ownership. What I would suggest to you is, please, take over your parents’ ownership… because the ownership is passed to a family member, the transfer fees may be minimal depending on where you own. Then, please contact us, we will be pleased to list it for free and if you ever get any calls from anyone wanting to buy, list it or whatever they contact you for… we will follow up with them on your behalf to help screen the goods from the bads be to sell or to buy… making sure it is legitimate… this is what I would gladly offer to help your Dad and give him a peace of mind… provided you take over the ownership so your father never has to deal with these types of scams in the meantime the program resells … best regards
Just had the cold call with the over valued offer to purchase a week of my RCI from U.S. Property Consultants Inc [Thomas Donnelly & Alex Morgan] out of Las Vegas NV. They hold themselves out to be financial brokers, securing financing for their buyer, from unidentified lender institutions. They get paid by the lender. No cost to the seller EXCEPT for the $874.32 up front fee for processing the necessary documents. I sent the Las Vegas BBB an email/complaint about them. They dumped me when I suggested they front the fee and I would repay it plus a commission to them.