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Timeshare Resale Scam & Fraud Warning
Warning. Timeshare resale scams are on the rise. Most scams target those looking to sell their timeshare and include an outlandish appraisal, guarantee or unsolicited cold call. Fraudsters are getting more creative though and have come up with new ways to trick owners looking to sell their timeshare. This is why we’ve prepared this article outlining some of the most common timeshare resale frauds active in 2016 with tips on how to protect yourself. Our goal is to provide you with the information you need to make an informed decision about who to engage to help sell your timeshare. By the end of this article you’ll understand why Buyatimeshare.com is the best and safest option to buy, sell or rent a timeshare on the resale market.
Top Timeshare Resale Scams in 2016
- Posers Claiming to Be Buyatimeshare.com –We’ve recently received reports that an unaffiliated phony company is posing as buyatimeshare.com and contacting our current customers and other timeshare owners claiming to be us. Because we are one of the most visible resale companies in the industry, fraudsters try to use our name to scam owners out of their hard earned money. To verify that you’re speaking with the real Buyatimeshare.com, make sure you’re calling the 1-800-640-6886 phone number listed on our website and sending and receiving emails from associates with a “@buyatimeshare.com” email addresses.
- Buying for a National Company – This new scam involves an individual or phony company contacting you out of the blue andtelling you they are purchasing timeshare for their large, corporate company. They will say the timeshare is going to be rented out to the company’s employees for the purpose of team building activities each year or something along those lines. The fraudster will offer an incredibly high amount for your timeshare and tell you that time is running out before they purchase someone else’s timeshare instead. You’ll be asked to pay a “small” fee of good faith to secure the sale.
- Buying for Tax Breaks – This is similar to the scam above. The phony company contacts you and says they are buying timeshare to obtain a tax break for the resort. Again, you’ll be asked to pay a small fee of good faith to secure the purchase.
- Guaranteed Sale – This scam has been around for a long time and is still being used today. No company can guarantee that your timeshare will sell within a certain timeframe. Any company that says otherwise is a scam and is violating the law in some states such as Florida.
- Buyer Is Waiting – A timeshare real estate agent or broker may contact you to let you know a buyer is interested in purchasing your timeshare if you have it advertised, but real estate agents and brokers are required by law in most states not to collect an up-front fee before the timeshare is sold. Brokers and real estate agents make their money through commission fees, , after the timeshare is sold.This becomes a scam when the timeshare resale company asks you to pay a transfer, title, closing or other feebefore the sale is completed.
Qualities of Legitimate & Reputable Timeshare Resale Companies
- Written Contracts – Written contracts are a legal mandate in some states such as Florida. We have a written agreement in place, electronically signed by every new advertiser, which specifically outlines the services we provide.
- Marketing Exposure – A legitimate timeshare resale company will be willing to outline how they go about finding buyers and renters, especially if they are an online company. Try doing your own Google search on them for a general buyer-specific search term. If you can’t find them, neither can a buyer. We appear on page one Google searches for numerous search terms such as “buy timeshares”, “buy a California timeshare”, “timeshares for sale” and several more.
- Offers and Sales – Reputable timeshare resale companies will be able to prove offers and sales they’ve produced in the past. If the company can’t support their claims with proof, it’s not worth your time, let alone your money. We show the latest sold timeshares right on our homepage and with a Timeshares Sold page on our website.
- Contact Information – Legitimate companies have physical addresses and a phone number beyond a toll-free number. We recommend calling the company’s phone number to see if anyone answers the phone and observing how they answer. If someone picks up when you call, does this person greet you with a mention of the company’s name? Also, keep in mind that a P.O. Box for an address is not an address. Our Contact Us page mentions our office locations in Florida and New Hampshire and phone numbers for both. Additionally, our Facebook page shows pictures from inside our office as well as our employees.
- Credit Card Details – How are credit card details collected and processed? Once you tell someone your credit card details over the phone, you don’t know where that information goes. Our representatives do not take credit card details, but send advertisers an email link so they can enter their own details into our secure electronic system, similar to an e-commerce site such as Expedia. It is all processed automatically.
- Registered Business –Make sure the company is registered to do business in the state in which they reside. We are a registered business in Florida and New Hampshire.
- Longevity – The length of time a business has been in operation has to count for something, since bad businesses don’t last very long. We have been in business since 2000, or about as long as Google.
Being Up-Front About Our Fees
If you’ve been researching timeshare resale companies to help you sell your timeshare, you may have come across some articles or discussion boards warning you about paying up-front fees to sell your timeshare. Some have even gone so far as to label all timeshare resale companies that ask for a fee a scam. At buyatimeshare.com we do ask for a fee to advertise your timeshare on our website, similar to the way a newspaper would ask for an advertising fee prior to advertising a product in print. The money is used for search marketing strategies designed to attract buyers to your ad. Our platform of websites receive more than one million visitors per year from users searching for timeshare related information. We bring buyers to our website through marketing tactics targeting search engines such as Google, Bing and Yahoo when keywords such as “buy timeshares”, “buy a California timeshare”, “timeshares for sale” are searched.
For more information and tips to guard yourself against timeshare scams and ripoff schemes, try the following:
- BuyATimeshare Rip Off Report
- BuyATimeshare Scam Report
- BuyATimeshare BBB
- BuyATimeshare Consumer Affairs
- BuyATimeshare Reviews
- BuyATimeshare Complaints
We hope this information has been helpful and provides you with the type of details that will assist you in retaining a timeshare resale company. We believe that we are the best, but don’t just take our word for it. View our BuyATimeshare Testimonials page and see what our clients have to say.