How To Deal Safely With Timeshare Resale Companies

Timeshare resale companies have emerged as one of the most dangerous types of outfit to deal with. Despite being investigated by the regulatory authorities in several major countries, they are still getting away with taking thousands of dollars of client money under false pretenses. The scam is easier to operate in countries such as European resorts, where there are international barriers for the scammers to hide behind. If you have timeshare to resell, it is essential to study the market in advance so that you are aware of the potential pitfalls.

There are two major pitfalls to watch out for. The first and most obvious of these is when you are asked for an up front fee before any timeshare will be listed. This is a very common tactic amongst scammers, in fact it is almost universal. Any reputable organization would list your timeshare on a commission basis. If it sells, they take a cut for the work they have done. If it does not sell, they take nothing. When you are asked to part with money, ask yourself what you are parting with it for.

Another common scam tactic is to demand that you travel to see the person who will buy your timeshare, especially if that person is in another country. What happens so often when someone has timeshare which is worth very little, is that a scam company will tell you that they can get a good buyer for it. They ask for a fee up front, usually a four figure fee, for connecting you with the buyer. You also need to travel to the location where the buyer is.

Now, the scammers are in a position where they cannot lose. They already have your front money which will not be returned. They also have you on their premises where they can try to tell you another deal. At this point, they reveal the truth about the value of the timeshare, or possibly even slightly undervalue it. They offer to take it off your hands for nothing, in exchange for a note which will pay you money in several years time.

Obviously, by now the victim will realize that he has been scammed, but it will be too late to do anything about it. The front money will be lost, and there will be no chance to recover anything through selling the timeshare. The alleged timeshare resale companies get money for doing nothing, and the resort, which is often a partner company, gets some timeshare at a knock down price. Of course, they will still try to sell the victim some more points at a new inflated rate. If you have timeshare to sell, don't even look at any offer where you have to pay out money in advance, and don't sell unless you know the market and know your valuation. This way, you can find one of the genuine timeshare resale companies.

 






 

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