How to Spot Timeshare Resale Scams

You’ve put a lot of money into your vacation timeshare, and now, it’s time to sell it on for a nice profit – while this seems simple enough in principle, it may be harder than you think it will be, primarily due to a sluggish real estate market and low overall demand…as well, dealing with the myriad timeshare resale scams going around the marketplace can pile on stress and worry for any owner of timeshares.
When you’re preparing to sell, you should be aware that scammers are out there waiting to see your timeshare listing go “live” – as soon as it does, they will circle like vultures, trying to part you from your hard-earned money. Selling your timeshare is not going to be easy, and it may take time to find a new owner, but re-selling timeshares does happen every day… it just takes perseverance and a little patience. Of course, a good working knowledge of the real estate market will help immeasurably. In order to get the results you really want, you must know how to spot – and avoid - timeshare resale scams.
Here are some things to watch out for:

Upfront Fees are a Red Flag For TimeShare Resale Scam

In a typical scam by bogus timeshare resale “agencies”, owners of timeshares are contacted via phone or email regarding a “buyer” who is absolutely clamoring to get his or her hands on your vacation timeshare. All you’ll need to do to sell your stake in the timeshare property is give the agency some affordable upfront fees to set up the deal for you!
Many people who are anxious to get rid of their vacation timeshares have fallen prey to these sorts of shady agents. In the end, timeshare owners lose their upfront fees, and the mystery “buyer” never actually materializes. Agents disappear with the fee proceeds and then prepare to hatch their scam on other unsuspecting timeshare sellers. Owners of timeshares are left holding the bag for useless upfront fees, and they still have to sell their timeshares and pay their property maintenance fees. This is the last thing anyone needs, so please consider upfront fees to be a big red flag – if they want cash in advance, be extremely wary.

Does it Sound Too Good to be True?  It could be A Timeshare Resale Scams

Most of the worthwhile things in life don’t come easy – when things sound too good to be true, it’s important to step back and consider details carefully. Research is your friend when you’re planning to sell timeshares as a timeshare owner. If you’re not used to scammers and shady operators, you’re probably ill-prepared to deal with the slick con men (and women) who run timeshare resale scams. These people will promise the moon, produce paperwork that looks truly authentic, and then spin out a sales pitch that is as slick as black ice. Slippery sales pitches are another red flag that danger lurks ahead.
If it sounds too good be true, it probably is a scam. Right now, the market for buying timeshares is not the best. If an agent tells you that he or she has people lining up to buy your slice of the timeshare pie, he or she is probably exaggerating – or outright lying! People who’ve been around the block and bought and sold timeshares know that it’s just not that easy to find buyers – especially in a shaky economy, as the whole real estate market is suffering from pronounced downturns.
The worst thing about the promises and lies of vacation timeshare resale scammers is the way that they hurt the nice people who are timeshare owners. After all, most owners of timeshares are decent folk who have never ripped off another person in their lives. Nice people tend to trust, because they are trustworthy themselves – you can bet your bottom dollar that the people who run timeshare resale scams look for sweet and friendly people who may be naïve about the darker side of business (and life). These predators look for ways to defraud the trusting and the decent, and that is appalling. The only way to beat people this rotten is simply to learn their tricks and to recognize their scams before you hand over a single cent. Money is what it’s all about, so keeping your hard-earned cash away from people who promise everything and deliver nothing should always be priority one.
Anyone who promises an “instant” sale of your timeshare, or tells you that they’ll take on the deed for a “worthless” timeshare, is one of the bad apples. One way or another, people who make these claims will try to rip you off. Often, these shady dealers look quite legitimate – they rent hotel conference rooms, set up snacks and drinks, and regale the owners of timeshares with a host of blarney about exactly how they’ll facilitate the entire process of selling on a timeshare. Just remember – anyone can rent a hotel conference room – this gives no legitimacy whatsoever to a business concern. To separate the wheat from the chaff, you must do research. Every true and reputable agent will have a generally positive reputation online – most scammers will have a host of complaints, angry blogs, and negative reviews written about them.
Before you consider any deal that relates to selling a timeshare, you must perform due diligence by checking out individuals, company names, addresses, reviews, licensure, and so on. Leave nothing to chance – if you don’t find any kind of information online, that’s yet another red flag. A real company will always have a presence on the World Wide Web. So much heartache could be avoided if timeshare owners simply took the time to do “deep” Web searches of potential agents. In this day and age, people who get ripped off run to their computers and write about it – you can learn from their mistakes.
Check Credentials
The best agents are always affiliated with real estate trade organizations, the Better Business Bureau, and other respected groups. If your agent isn’t showing off these credentials, he or she may not even be licensed to do resale timeshare selling! It’s very important as a timeshare owner to examine the credentials of anyone you are considering working with. Licenses are legal proof that an agent has demonstrated ability in his or her timeshares selling field – without such licenses, you shouldn’t even bother with an agent, because he or she just isn’t legitimate.
Before wasting your time trying to decide whether or not an agent is on the level, you may want to ask for proof of licensure, and then back up the agent’s paperwork (if he or she produces it) by checking it out through the government agencies or governing bodies that grant these licenses. Never work with an unlicensed agent – it’s just a recipe for disaster, and you won’t sell your timeshare through such a person (or company).
It is possible to find great agencies that will help you to sell timeshares in a prompt, efficient, and affordable manner. However, there are many agencies to avoid. Talk to other timeshare owners and spend some time getting references from them – use word-of-mouth feedback about timeshares resale agencies to put together a great short list of candidates. Then, use the short list to “check out” candidates online.
Once you’ve found an agency you trust, they can take some of the burden of selling your timeshare off of your shoulders. A good agency should have a wide network of contacts that help to spread the word about timeshares for sale. Timeshare owners may need to do a little legwork themselves in order to get the results they want – in the end, many timeshare owners do opt out of agencies and go it alone.
Other Time share Scams to Watch for
Beware of international agencies that claim to have a stream of buyers who want to purchase timeshares in your country. Because of international laws, it’s even more difficult to get justice when you’re dealing with an online, mail, or telephone-based scam. In general, it’s wise to stay away from international deals, unless you’ve got an excellent international real estate attorney working to protect you from bogus contracts and other timeshare rip-offs. Owners of timeshares must be careful to work with agencies that are well-known and accredited. Without proof of a solid business reputation, you’re setting yourself up for a bad experience that leaves you with an empty wallet and a lot of negative emotions.
Timeshare scammers who guarantee you profits on a timeshare sale are also very suspicious – in general, breaking even on a timeshare resale is all you will be able to expect. In fact, some timeshare owners don’t make a return on their initial investment when they sell on their stake in a property – however, because they’ll be freed from the constant money drain of maintenance fees, they are happy to proceed with a deal, even though they sell their timeshares for less than they paid. It’s important to get the facts about just how much money you can expect to make (or lose) when you list your timeshare property for sale. Without knowing the odds, you’ll be susceptible to shady dealers who talk a good game, extract upfront fees (typically, 400 to 1000 dollars), and then disappear once you’ve forked over you cash.
A third type of agent to avoid is one who contacts you via telephone – you should always deal with an agent face-to-face if you can. It’s just not wise to do a deal with someone you’ve never met, especially if their reputation as a timeshares expert doesn’t hold up online or in your local business community. Telemarketing scams abound, and many of them focus on desperate or vulnerable timeshare owners. You need the extra assurance that personal meetings with an agent brings – it’s always good to visit an office personally, to see just how this agent is conducting his or her affairs. Google Maps will also be a useful tool for finding out what an agent’s supposed address really looks like. Sometimes, these business addresses don’t even exist. Protect yourself by staying away from scam timeshare resale telemarketers.
Other Options for Timeshare Resale
How to proceed with the sale of your vacation timeshare property is an individual decision that requires lots of thought and plenty of facts and figures. Without doing a little planning and research, you may not have the knowledge you need to avoid timeshare resale scams and other pitfalls. Timeshare owners may indeed see a return on their investment over time, but selling may take months or years, rather than a few weeks. The days of the real estate and vacation timeshare boom are over, and it’s a new reality for timeshare owners. Adjusting to this reality and facing it head-on is the best way to adapt and win in a challenging economy.
Owners of timeshares can always use their properties while they’re on the market – leasing or renting these timeshares may also be a possibility. While maintenance fees are always an issue, charging enough rent to cover these fees may be an option. Any owners who are considering subletting their time shares to reduce costs should check rules carefully before proceeding. By choosing to leverage income from timeshares while they are listed, it may be possible to avoid timeshare resale scams and shady deals.
Selling a timeshare is easier when you know all there is to know about timeshare resale scams and other potential problems, so be sure to use the resources in this article to stay safe and avoid being ripped off.

LSI Keywords – timeshare, timeshares, owners
Description – With our tips, you’ll get the low-down on how to spot even the slickest timeshare resale scams.