Timeshare Buying – Avoid Scams and Get the Best Deals

Governments from local to federal to international are warning consumers against timeshare resale scams.

You would think that with all of the warnings out there then there would be no more scams happening. Well, apparently not.

In Florida alone last year there was something like 19,000 complaints to the attorney general’s office about timeshare resale scams. And that is just the complaints. What about all of the people that got scammed and did not complain.

OK, so here are a bunch of government sites that talk about this whole timeshare resale scam business.

What Government Blogs are Saying about Timeshare Resale Scams

FTC Halts Timeshare Property Resale Scam; Telemarketers Falsely …

www.ftc.gov7/19/11

At the Federal Trade Commission’s request, a federal court has temporarily halted a telemarketing operation that targeted consumers trying to sell their timeshare properties. The defendants allegedly charged consumers thousands of dollars, falsely claiming they had buyers lined up for sales that supposedly would be reviewed and approved by the FTC. As part of its continuing crackdown on con artists who prey upon financially distressed consumers, the FTC seeks to permanently end the defendants’ deceptive practices and make them refund consumers’ money.…

Attorney General Darrell McGraw Warns Timeshare Owners of

www.wvago.gov5/27/11

Responding to an uptick in consumer complaints against several companies, West Virginia Attorney General Darrell McGraw is warning the state’s consumers to beware of bogus timeshare sale scams.

Timeshare-owning consumers have filed complaints with Attorney General McGraw’s office indicating that these companies have called them promising to sell their timeshare and charging $1,200 up to $2,500 in advance fees for this service.

Typically, the scammers send a legitimate-looking contract to be signed and faxed or e-mailed back. Many times the contract and transaction are executed through an online website. The companies fraudulently claim the fees are for advertising, closing, inspection, and transaction costs and require an immediate payment through a credit card or debit card transaction.…

Timely warning on timeshare sales scams

atg.wa.gov7/10/10

Consumers should be aware that some licensed brokers can be part of the upfront fee company, so the best advice is simply to never agree to an upfront fee! Before you decide to sell, take the time to find out approximately what the resale market will bear. Either ask a respected timeshare resale broker such [AGO BLOG MODERATOR'S NOTE: Link to commercial Web site removed per comment policy.] or visit a social network site of timeshare owners such as www.timeshareforums.com to share information and strategies. [AGO BLOG MODERATOR'S RESPONSE: I'm not not familiar with this Web site. Please visit at your own risk.] The most important advice is for a consumer to simply use common sense.. If it sounds too good to be true- it is! Timeshares do not appreciate in value!…

OK, so you have gotten the idea that even the slow pokes at the government have noticed that consumers are being ripped off. It took them long enough.

Now since they have finally seen the light it is your turn. STOP trying to dump your timeshare through these scam operations. You will only lose money.

What Other Blogs are Saying About Timeshare Resale Scams

The Most Common Scams | Direct Transfers Blog

blog.directtransfers.com11/4/11

At Direct Transfers we’re on a mission to raise awareness about timeshare scams. From the timeshare organizations themselves to the scam artists who try to pretend they’ll do something about your timeshare, there’s a lot of …

Conviction in Florida timeshare scam « TimeShare Blog & Reviews

mytimeshareblogs.com9/15/11

Conviction in Florida timeshare scam. Stephen R. Wigginton, U.S. Attorney for the Southern District of Illinois, announced Friday that on Thursday, Ralph Johnson, 34, of Delray Beach, Fla., pleaded guilty to a one-count criminal …

Well that about wraps it up for this post. Just remember that there are a whole lot of people out there ready to steal your money. So be careful.

If you own a timeshare you know that crummy feeling you get every year when your maintenance fee comes due.

Not only did you have to pay many thousands of dollars to buy your unit but you have to pay the ever increasing yearly fee just to be able to go on an exchange.

And with economic times being so tough more and more timeshare owners are looking to sell their timeshares.

But that is harder then you were told at the presentation. There are no lines of people pushing and shoving to buy your timeshare.

This is where the timeshare resale scam artists come in and make a killing off of your misfortune.

The Florida Attorney General have received close to 20,000 complaints in the past two years from people who have be defrauded by timeshare resale scam artists.

The following is an excerpt from the Attorney General’s statement.

The proposed legislation including the following provisions:

· A timeshare resale advertiser may not misrepresent a pre-existing interest in the owner’s timeshare.

· A timeshare resale advertiser may not mislead a customer as to the success rate of the advertiser’s sales.

· A timeshare resale advertiser may not provide brokerage or direct sale services.

· A timeshare resale advertiser must honor a cancellation request made within 7 days following a signed agreement.

· A timeshare resale advertiser must provide a full refund by a timeshare owner within 20 days of a valid cancellation request.

· A timeshare resale advertiser must not collect any payment or engage in any resale advertising activities until the timeshare owner delivers a signed written agreement for the services.

· A timeshare resale advertiser must also provide a full disclosure statement printed in bold type, with no smaller than a 12-point font, and printed immediately preceding the space provided for the timeshare owner’s signature.

· A timeshare advertising agreement must be put in writing.

· A company who violates these provisions has committed a violation of the Unfair and Deceptive Trade Practices Act with a penalty not to exceed $15,000 per violation.

To read the full article about timeshare resale scams just click here.

What are other blogs saying:

The following are some blogs that have reviewed the AG Bondi’s remarks and have their own opinions.

Pam Bondi Gets Aggressive With Timeshare Resale Advertisers

Attorney General Pam Bondi joins with State Sen. Andy Gardiner and State Rep. Eric Eisnaugle to tackle timeshare resale advertising fraud.

Publish Date: 10/05/2011 11:02

http://www.sunshineslate.com/2011/10/05/attorney-general-legislators-tackle-timeshare-fraud/

Bondi Pushes For Timeshare Fraud Legislation « CBS Miami

Besieged with thousands of timeshare fraud complaints, Attorney General Pam Bondi and two Florida lawmakers are pushing for a new law to crack down on fraud.

Publish Date: 10/05/2011 11:36

http://miami.cbslocal.com/2011/10/05/bondi-pushes-for-timeshare-fraud-legislation/

Delray man arrested for swindling thousands from elderly timeshare …

His arrest comes two days after Florida Attorney General Pam Bondi announced efforts to pass a law that would toughen restrictions on timeshare resale companies. Complaints about timeshare resale companies in Florida …

Publish Date: 10/07/2011 18:46

http://www.delray-beach.info/delray-man-arrested-for-swindling-thousands-from-elderly-timeshare-owners-sun/

Attorney General Bondi Unveils Legislative Initiative to Protect …

–Attorney General Pam Bondi today joined Senate Majority Leader Andy Gardiner (R-Orlando) and Representative Eric Eisnaugle (R-Orlando) to unveil a legislative initiative that will protect consumers from timeshare resale …

Publish Date: 10/04/2011 17:11

http://4closurefraud.org/2011/10/04/attorney-general-bondi-unveils-legislative-initiative-to-protect-consumers-from-the-number-one-complaint-of-the-past-two-years/

What do You Think?

If you have an opinion on this legislation feel free to comment below.

Remember that Attorney General Pam Bondi is proposing legislation that will protect the rights of private citizens from timeshare resale scam artists.