There are as many as 1,547 timeshare resorts in the United States, and many of them are owned by regretful American families just like yours. Although it may be tempting to sell your timeshare now after tax season, it’s important to be on the lookout for timeshare resale scams.
Many timeshare resale scams aim to take advantage of your situation and your desire to get rid of your timeshare. If the deal a timeshare reseller provides you sounds too good to be true, odds are that it is.
There may be legitimate timeshare resellers looking to purchase your timeshare from you. However, the cost of falling victim to a timeshare scam can make selling your timeshare incredibly risky. That being said, here are three tips to help you avoid becoming a victim of a timeshare resale scam.
- Don’t sign anything at the meeting. When you meet the resale company, don’t sign any documents at the meeting. Instead, take them home with you to study later or to have your timeshare lawyer look over. You want to be sure any promises made during the meeting are included in the contract. What’s more, a reseller who fails to meet with you is most likely not legitimate.
- Don’t believe 900 numbers. Legitimate businesses most often use 1-800 numbers to operate and speak with their clients. If the timeshare reseller who’s called you has a 1-900 number, there’s a fair chance their business isn’t legitimate and that it’s a scam.
- Don’t pay any upfront fees. Timeshare resellers will only have you pay a fee after you’ve signed a contract. Don’t trust a reseller that asks you to pay an upfront fee whether in person or over the phone. A legitimate business won’t do this nor will they cold call you.
You may want to sell your timeshare with no upfront fees. However, there’s a high risk of falling victim to a timeshare resale scam should you attempt to sell your timeshare. Fortunately, timeshare attorneys can help where reselling fails.
The law offices of Susan Budowski can help you get out of your timeshare agreement without putting yourself at risk for a scam. For more information, contact Susan Budowski today.