How to Identify and Avoid a Timeshare Resale Scam

Timeshare sales representatives can be very pushy. They will say just about anything in order to trick people into buying their share of a property. Unfortunately, many people end up falling into their trap. Some do so because they’re lied to about the state of the industry. Others do so because they don’t feel like sitting in a timeshare presentation all day long, and agree to the purchase just to get away from pushy sellers.

Both of these types of buyers will ultimately want out of the timeshare. Sadly, it’s extremely difficult to get out of such a scheme. The timeshare resale industry is just as bad as the regular sellers. Resellers will charge an upfront fee and promise to sell the property at a profitable price. Most of these companies are unable to sell anything for anyone.

If you are trying to get rid of your timeshare, you need to learn about the resale scams.

Here are some tips for identifying and avoiding such scams:

• If a company claims to have wealthy clients waiting to buy properties such as yours, don’t believe it. Even if they really do, then those clients are only interested in certain properties, which may not include yours. They high extremely high standards and are very selective with which properties they choose.
• If you ever receive a letter or a phone call from someone claiming to have a buyer for your property, just as long as you cover the closing costs, don’t believe them. These scam artists will take your money and run with it! By the time you realize your mistake, they will have moved on.
• If a company ever tells you that you can’t “sell your property on your own!” take such a statement with a grain of salt. No, you might not be able to sell it on your own, but that doesn’t mean you should give them money to sell it for you.
• Be cautious whenever a resale company promises to place your ad in listings that you yourself cannot access. These companies will make you think that there are primary market listings that average timeshare owners such as yourself can’t access. They’ll charge you a fee, and then throw up an ad in regular listings. They won’t actively try to sell your property at all.

These are just a few samples of what lengths timeshare resellers will go through to scam you. The safest way to get rid of your timeshare, other than selling it yourself, is to go through a timeshare exit provider. This type of company will not make any guarantees about selling your property. Instead, it will help you come up with the best and safest exit strategy possible.