Tips to Avoid Timeshare Scams
Avoid any person or company that is asking for upfront fees to sell your timeshare. This time of year more than any other scammers are unfortunately widespread as they know many people would like some extra money in their pocket during the Holidays. Sometimes scammers will pose as other companies using their goodwill as a way to gain trust. Always check the company’s official website and contact them directly from the contact information found on their website to make sure you know who you are dealing with. If you are approached by anyone contacting you unexpectedly saying they have someone that is willing to buy your timeshare this should raise a “red flag”, especially if your timeshare was not even listed for sale. It should continue to raise more “red flags” if they say they need upfront money to process the sale. Moreover, if they tell you they need upfront money you should contact the authorities.
In the state of Florida, collecting upfront money in excess of $75 in any 12 month period without a signed contract detailing all fees and exact nature of the service to be provided to resale a timeshare is an illegal practice. Some companies try to skirt the law by having a “marketing company” collect the upfront fee while the “brokerage company” actually sells the timeshare. This is an unethical practice as it’s simply a way of trying to cheat a law that was put in place to protect the public.
If you are suspicious about any individual contacting you requesting upfront money in addition to contacting your local law enforcement please contact the following organizations:
Federal Trade Commission: 1-877-382-4357
Attorney General of Florida: 1-866-966-7226