Timeshare Resale Scams

If you have been researching how to sell your timeshare on the internet you are presented with many options.  I am sure you have seen timeshare resale advertising companies, timeshare trade in resale companies, timeshare donations companies and timeshare real estate brokerages.  It can be very confusing especially if you have never sold a timeshare before. Many of these companies are scams.  Ever wonder which types of resale companies to avoid? 

Timeshare Resale Advertising Company Scams

Very few resale advertising companies are viable options to sell your timeshare.  Only choose one that is exposing the resale market with television commercials or some form of multimedia besides just the internet. Ask for proof that they advertise on television don't just rely on their word. Be wary of internet only advertising resale companies especially if they highlight the offers to their sellers.  How do you know the offers are accurate? Most importantly offers don't mean sales. 

Timeshare Resale Trade-In Seminar Company Scams

Never use a timeshare trade in company that charges you a fee of up to $4,000 for a worthless vacation club and you give them your timeshare for free.  While all timeshare lose value from the initial purchase, your timeshare is worth something to someone.  Don't just give your timeshare away to these resale companies and then pay them thousands for a worthless vacation club. That is just adding insult to injury.  Did you know a large majority of these companies sell your timeshare week back to your original developer.

Timeshare Solicitor Scams

The timeshare resale company makes an unsolicited call to you and informs you that they have a buyer for your property.  They then ask you to send in a check or wire money to take care of the closing costs. Never send these companies any money.  The only time you should send money for closing costs is if you have agreed to on the contract for sale and purchase that you have negotiated with the help of a licensed real estate agent. Never send it to the licensed agent only send it to a reputable title agent to hold in escrow. If a company asks you for upfront money to cover closing costs, hang up your phone.