Resale Scams On the Rise
By far the biggest timeshare scam is simply the fraud that occurs at timeshare presentations. Salesmen tell outright lies in order to persuade innocent attendees to sign away their financial freedom and future. Consumers are told that they can sell their timeshare with ease, that timeshares are a great investment, that the contract is a very low-risk document. All of these are lies, and perpetuate the majority of recent timeshare scams. This is the essence of the entire timeshare industry, in effect making the entire business a timeshare scam. This is a sleazy practice and causes many families financial devastation.
A more recent and very popular timeshare scam involves timeshare resale companies. There is a huge market for resale companies, as many timeshare owners eventually realize they want to get out of their timeshare contract. This timeshare scam works by promising to help struggling timeshare owners in selling their timeshares in a very depressed market. Owners are looking for a last resort, and tend to trust the resale company as their only hope. The timeshare scammer then takes the money upfront and then leaves the already hurting timeshare owner high and dry.
These timeshare resale scams defraud owners when they are already hurting financially, the very people they swore to help. Timeshare scams are not uncommon, but they seem to be getting worse by the day. If you are looking to sell your timeshare, please do research on the resale company and never offer money upfront. We suggest avoiding resale companies altogether because of the high number of timeshare scams. A service company that will help you legally cancel your timeshare contract is often the better course of action. In any case, always be aware of timeshare scams, because they plague every aspect of the industry.