Looking to sell a timeshare vacation rental? Perhaps you could no longer afford the upkeep of your timeshare or inherited one from your parents but don’t want to keep it. The first thing you need to know is that there are many unscrupulous individuals out there that might take advantage of you and loop you into a timeshare scam. So how can you tell if you’re being scammed?
How Timeshare Vacation Rental Scams Work
There’s essentially no timeshare after-market and looking for a timeshare buyer could be especially difficult, explains a top attorney with ample experience in timeshare fraud cases. Unfortunately, the scammers know this and try to take advantage of these circumstances. For instance, let’s say you purchased a timeshare in Los Angeles a couple of years back, but you live in New York so you can’t just jet off to LA now and then. Then there are your children who are going away to college soon, and home repairs that require your attention as soon as possible.
So you’re planning on spending the money you could get from selling your timeshare on stuff that you need to spend on. Out of the blue, you receive a call from an alleged timeshare reseller who has a buyer interested in your timeshare. You probably think that this is perfect timing and that this offer is just too good to be true and pass up on, right?
This scenario is all too common and comes with a catch—you have to pay a substantial fee upfront so that the alleged timeshare reseller for connecting you to the buyer. However, once you pay the fee, the alleged reseller would claim that the fee was just for advertising your timeshare vacation rental or disappear on you, never to be heard from again.
The Bottom Line
If you’re planning on selling your timeshare vacation rental, you have to do your due diligence so that you could safeguard yourself from timeshare reseller scammers that would do all that they could do take advantage of you.
While there are legitimate timeshare resellers out there, it could cost you significant money and time if you fall victim to a timeshare resale scam. If you believe that you’ve fallen victim to timeshare fraud, consult a timeshare fraud attorney to find out about your options.