To sell a timeshare, contact the resort directly and see if they have a resale or buyback program. It is not a rule, regulation, or statement of the Securities and Exchange Commission (Commission). 1 Twitter 2 Facebook 3RSS 4YouTube In this scam, a company contacts timeshare owners and claims to be a network of timeshare resale companies that can help them sell their property quickly and easily. Contact a highly experienced and skilledtimeshare attorneyfor a free initial consultation. Customers that sign up for this program can receive cash for their ownership interval, as well as discounts on airfare or vacations. Timeshare owners who agreed to sell had to pay an upfront feeanywhere from a few hundred to a few thousand dollarsto cover various costs such as advertising or closing fees. Newton Group can offer multiple options to help you get out of your timeshare contract. A .gov website belongs to an official government organization in the United States. Plus, some companies have been accused of charging exorbitant fees for their services and failing to deliver on their promises. The message says there's something wrong with. Many owners will offer their timeshare on eBay for as little as a few dollars . View offers received, interact with customer care, request changes to your advertisement, and receive offers and discounts as a valued subscriber. And then, as time went on and no sales were made, victims tried reaching back out to the companies, but their phone calls and e-mails went unanswered. Usually, the company will take the money and run, leaving the timeshare owner with a worthless contract and no way to get their money back. YouTube sets this cookie via embedded youtube-videos and registers anonymous statistical data. This alert represents the views of the staff of the Office of Investor Education and Advocacy. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. Facebook sets this cookie to show relevant advertisements to users by tracking user behaviour across the web, on sites that have Facebook pixel or Facebook social plugin. The Timeshare Attorney has the experience and knowledge necessary to help you get what you deserve. These cookies track visitors across websites and collect information to provide customized ads. Theres also a map on the home page that shows locations of timeshares in every continent except Antarctica. This cookie can only be read from the domain they are set on and will not track any data while browsing through other sites. It should include the services the reseller will perform; the fees, commissions, and other costs you must pay and when you must pay them; whether you can rent or sell the timeshare on your own at the same time the reseller is trying to sell your unit; the length or term of the contract to sell your timeshare; and who is responsible for documenting and closing the sale. Users . The Commission has neither approved nor disapproved its content. Typically, timeshare properties are located in resorts or condominiums in desirable vacation destinations. In business since 2003, our knowledgeable representatives are just a phone call away at 1-877-815-4227. And unlike general auction sites like Ebay, we focus on one thing: selling timeshares. Some say their timeshare became unaffordable after several years of ownership due to increased fees. My husband and I were scammed by another timeshare resale company, Equity Financial Services. Colorado, Consumer Protection Division, Office of the Attorney General Vacation Smart International Referral to the Connecticut Office of the Attorney General ("OAG") for purposes of enforcing a subpoena under CGS 42-110k. by Sylvan Lane - 11/22/22 1:01 PM ET. Images and descriptions depicted may include features, furnishing, and amenities that are subject to change at any time. They go by several different company names. Their customer service motto proclaims, We work with you until its sold, and the company also offers an exclusive maintenance fee relief program called TO GO that helps owners put money back in their pockets while waiting for the right buyer. These company representatives promised a quick sale, often within 60-90 days. Let one of our friendly real estate professionals help you buy, sell, or rent your timeshare. If you own one of these timeshare properties, the fraudsters may promise to pay you a significant sum of money for your timeshare. More than 1,100 BBB Scam Tracker reports reveal fraudsters have used the same high-pressure tactics common in timeshare sales to con consumers out of $3.5 million in the last three years. So the sale of the resort timeshare doesn't affect banked weeks. On-going investigation. Be wary of hiring lawyers recommended by third parties who make unsolicited offers, as they may not be impartial. Scott, had previously run several timeshare resale companies in Pinellas County that were also shut down over a dozen years ago. As a condition of the new settlement, he agreed to pay $76,000 in restitution to consumers who were deceived by defendants in connection with the advertisement of the resale or rental of land. _______________________________________________________________________. The Internet Explorer web browser is no longer supported by Club Wyndham. What you owe will simply be taken out of the buyer's purchase price during the closing . By following these tips, you can help protect yourself from potentially devastating financial losses. Share sensitive information only on official, secure websites. Thats what consumer protection investigators uncovered after a two year investigation into a coordinated criminal telemarketing operation. "You borrowed money and didn't pay it back.". FBI.gov is an official site of the U.S. Department of Justice. Please upgrade your browser. Yes. It is important to verify the identity of the person who contacts you by independently searching for the persons or firms website and checking that the contact information listed there is consistent with the contact information the person provided you. Set by addthis.com to determine the usage of addthis.com service. It is safer to only deal with exit companies with an escrow account. In November 2020, Judge Mendez sentenced co-defendant Wayne Arthur York II to five months time served, two years of supervised release, and to pay $449,980 in restitution to the victims of the scheme. In these million dollar scams, unlicensed telemarketing is the go-to method for a criminal element working in timeshare and/or land resales. According to the American Resort Development Association (ARDA), the $9.6 billion U.S. timeshare industry boasts over 1,570 resorts and 205,100 units. Do Not Sell or Share My Personal Information. Timeshare resale companies will make you believe that your timeshare has value, and all you need to do is pay them an up-front "listing" or "advertising" fee to sell the timeshare. Moreover, our partners, such as Google Adsense, will collect data and use cookies for ad personalization and measurement. A lock () or https:// means you've safely connected to the .gov website. Take a closer look at some of the most common timeshare scams and what you can do to protect yourself. In 2006, to counter the threat posed by weapons of mass destruction (WMD), the FBI established the WMD Directorate. There are deals to be found on travel, but scammers know consumers want to save money and take advantage. Or, they may claim you are entitled to valuable shares of stock in connection with your timeshare and offer to liquidate the shares in exchange for a commission. Moreover, our partners, such as Google Adsense, will collect data and use cookies for ad personalization and measurement. Fake debt collection on supposedly unpaid timeshare fees isalso a common ruse used on unsuspecting owners. We were told we could easily travel anywhere. Warning Concerning Timeshare Exit, Rental, and Resale Scams List of Non-Affiliated Companies. In truth, no buyers had actually been arranged. In either case, you the timeshare reseller will receive the same amount for the sale of your timeshare. ", "We contracted with SellMyTimeshareNOW in DecemberSellMyTimeshareNOW was very honest with us regarding what we could realistically expect to receive in terms of selling price, and we successfully sold our unit in Maywe are grateful to SMTN for their efforts on our behalf. This case was the product of an investigation by the Federal Bureau of Investigation. must be licensed by the state under, Wis. Stat. A cookie set by YouTube to measure bandwidth that determines whether the user gets the new or old player interface. This cookie, set by YouTube, registers a unique ID to store data on what videos from YouTube the user has seen. The company requires upfront fees for their services, but they never sell the property. Be careful if someone claims they have been provided with a special permit from the SEC there is no such thing. Many of these companies are under attorney general investigation for allegedly deceiving owners, . 2626 E Oakland Park Blvd. With the sun out and their guard down, vacationers can quickly find themselves on the hook for a life-long commitment. If you need timeshare exit solutions, look no furtherlearn more about selling your timeshare and get started today. The companies had "virtual" offices in Tampa, Fla. and representatives would claim to have a buyer interested in purchasing an owner's timeshare unit. The property is usually managed by the resort in which it is located. In the IC3 complaints, perpetrators telephoned or e-mailed timeshare owners who, in many instances, had advertised their desire to sell in industry newsletters and websites. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. More than nine million households now. The cookie is used to store the user consent for the cookies in the category "Other. An investigation is usually triggered by an unusual volume or pattern of consumer complaints filed against a timeshare company. The fee for this service is usually around US $25. The AG also permanently banned Scott from engaging in any Florida business related to land and timeshare sales. She said I should look for an email from the refund department soon," the man said. If they do not, you can sell your timeshare privately, or through a resale company. Be realistic about what you can get for your timeshare. 1. 1 About nine million households in the U.S. own timeshares, and sales increased approximately 25% between 2010 and 2016. The victimsmostly owners trying to sellwere scammed by criminals posing as representatives of timeshare resale companies or by actual employees of companies that were committing fraud. In fact, every day we connect timeshare owners with buyers in more than 217 countries and territories worldwide. The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies. Transitions is here to help you navigate travel options and changes in your finances. For example, Wyndham offers Wyndham Cares for owners looking to exit their timeshare. And complaints to BBB reveal exit companies often fail to honor money-back guarantees. Talk about options! But timeshares arent for everyonehence the large number of incredibly cheap timeshare resales on the market. Read through these frequently asked questions to see how easy reselling timeshare can be when you work with a smart and reliable timeshare resale advertising company like Sell My Timeshare NOW. Fraudsters have various methods of making their timeshare schemes appear legitimate. Learn more. Sell My Timeshare NOW recommends a licensed and bonded title company like Timeshare Closing Services. They must offer all buyers a cooling off period. Unfortunately, these scams often take advantage of many timeshare owners who seek to rid themselves of their contracts and sell their properties. There are many factors that will influence the resale of your timeshare including location, resort quality, flexibility of usage, season, demand and, of course, price. No properties were ever sold according to authorities, but nearly 1.4 million dollars was collected for fees. Talk to an attorney in the state where the timeshare is located to learn about relevant laws. We will contact you as needed to complete your request. The cookie is used to store the user consent for the cookies in the category "Performance". Over the last 10 years, we have invested millions of dollars annually in developing SellMyTimeshareNOW.com and its affiliated websites. If you decide to sell, you can do so by yourself or via several timeshare selling platforms, whose fees and services vary. The Resort Owners' Coalition, a program of industry group the American Resort Development Association, has an online resource center for time-share resales with step-by-step advice for consumers. Yvonne Gaide was sentenced today to 12 months and one day in prison and ordered to pay $472,717 in restitution for wire fraud in relation to a scheme to divert Sacramento Main Office Developers were in the area, Properties were being purchased nearby, and Closings were already scheduled. Those lines and many others were reportedly used to hook unsuspecting owners into listing their land in property portfolios. A Maryland woman told BBB years of previously undisclosed maintenance fees and better vacation options led her family to want to sell their timeshare. They claim they can release them from their timeshare obligations, resell, or rent their . call 855-312-9040 call 866-294-4194 . Remember that scammers can assume the identities of actual brokers. Whats the FBIs role in these kinds of cases? Please select a check-in and check-out date, Westgate Smoky Mountain Resort & Water Park, River Terrace Resort and Convention Center. To sell a timeshare, contact the resort directly. These cookies ensure basic functionalities and security features of the website, anonymously. Trust was the biggest factor! Timeshare companies are under severe pressure from angry consumers. In order to get your timeshare sold, buyers need to be able to find it. But some skilled sellers continue to talk buyers into unfavorable deals that often worsen when desperate investors try to offload purchases through the timeshare exit industry. Each owner was then promised refunds on the portfolio fees upon close of sale, minus small administrative fees.. reveal fraudsters have used the same high-pressure tactics common in timeshare sales to con consumers out of $3.5 million in the last three years. Payments must be protected. One of the leading companies is currently under investigation by the Washington State Attorney Generals office. Later that year, the Florida Department of Agriculture and Consumer Services conducted an onsite telemarketing inspection. This cookie is set by GDPR Cookie Consent plugin. Most of the major brand name timeshare companies have under-publicized resale departments where they will either help you with resale or explain how you can surrender title to your unit and walk away. Beware of Timeshare Exit Companies. Today, I find that most of the RCI bonus . A locked padlock This ABC News Video explains it all in great detail. But opting out of some of these cookies may have an effect on your browsing experience. Professional Services . And, while they're easy to get intothese contracts are incredibly difficult to escape, according to a. We researched the best companies from which to buy and sell timeshares based on fees, reputation and services. 2. There are buyers on our site right now searching for timeshares just like yours. When attempting to withdraw this amount on 22 Sept. Most of these contracts are not. The FBI Criminal Investigative Division and the Office of Investor Education and Advocacy of the Securities and Exchange Commission (SEC) would like to warn consumers of a recent increase in fraudulent schemes targeting owners of timeshare properties in Mexico. If so, SellMyTimeshareNow.com can help you sell your brand-affiliated timeshare in a quick and efficient manner. Another thing I commented on in 2012 was that Premium Timeshare Exchange was an advertising company. This timeshare ownership has been nothing close to this image," a Maine man said. Through advanced Internet marketing techniques, we target a global audience of consumers, driving thousands of qualified buyers and renters to our site daily through search engines like Google, Bing, and Yahoo. AddThis sets this cookie to track page visits, sources of traffic and share counts. These visitors turn into offers to rent and buy timeshares from owners like you (see the live feed of offers above for proof of how active our site really is). He and his coconspirators would guarantee the sales and would represent that buyers were already arranged who were ready to pay for the timeshares. We work with owners from all different brands and ownership clubs to create a highly-visible resale advertisement for their timeshare to post within our online marketplace, giving your timeshare the exposure it needs to get sold. According to the Better Business Bureau, Bluegreen has a score of 2.28 out of 5, and many customers have reported the timeshare company as being unresponsive and unhelpful in situations where the customer is wanting to get out of their timeshare contract. The IC3 not only collects complaints but also analyzes them, links similar complaints, and discerns patterns in order to help law enforcement identify the scammers. If you are interested in the resale value of your timeshare, please take advantage of our free market value survey. Our live offer feed shows recent purchase offers delivered to timeshare owners just like you. As part of your subscription, we will create a full-page advertisement for your timeshare. - Ask how the reseller will advertise and promote the timeshare unit. If you like the thrill of discovering new locales, you may get bored revisiting the same place year after year. Are you ready to part ways with your timeshare or get rid of it as soon as possible? Hassle-Free Closing Process - Expert assistance to finalize your timeshare sale. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". If youre getting unsolicited contact via calls about your timeshare, you are likely being targeted by a timeshare resale company. This bulletin, like all staff guidance, has no legal force or effect: it does not alter or amend applicable law, and it creates no new or additional obligations for any person. 2 Given this volume of sales and the substantial expense of timeshares . Timeshares Only has been helping buyers, sellers and renters of timeshare resale for more than 25 years. Fake Timeshare Employees. Sacramento, CA. On theirwebsite, you can find information about the organization, its members, and the timeshare industry as a whole. You can contact the SECs Office of Investor Education and Advocacy (OIEA) by phone at 1-800-732-0330, using this online form, or via email atHelp@SEC.gov. RedWeek.com is the largest online marketplace for timeshares for sale, and has an A+ rating from the Better Business Bureau. Some resale scams have bilked timeshare owners for thousands of dollars. Bluegreen has also proven to be uncooperative while partnering with other businesses. Follow our Consumer Watch Team on Twitter. Some timeshare-related businesses, however, treat consumers ethically, resulting in positive experiences for buyers and owners. International: 1-603-516-0200, Toll Free: 1-877-815-4227 Newton Group calls itself the longest standing timeshare exit company in the U.S. They've been in business for over 15 years. We recommend their assistance to timeshare resellers who want as little as possible to do with the process of finding a buyer and settling on a sale price. By using this website, you agree to our Terms of Use. . Contact Information. Some desperate timeshare owners report paying resale companies $500 to list a timeshare, but promised . BBB tips for anyone considering a timeshare or exit company: timeshare properties, vacation clubs or exit companies and thoroughly read contracts for language about lifetime commitment, heirs' obligations, maintenance fee increases or guarantees. AARP TIP 2: Use the Resale Market. While it may seem like a daunting task, we strive to make the resale process as simple as can be by storing all your documents and correspondence in one convenient location. Whether you are considering purchasing a timeshare or are currently embroiled in a legal battle with your resort, it's crucial to have an experienced attorney. "My husband and I contacted Sell My Timeshare NOW to list our timeshare week in Maui. I am not an expert but it appears that they should fall under the requirements of the relatively new Florida statute 721.20: 9)(a) Prior to listing or advertising a timeshare interest for resale, . Timeshare maintenance fees are ongoing fees that cover the operating costs of their timeshare property, such as maintenance, repairs, utilities, and other expenses. Contact your timeshare resort, developer, or manager, who may be aware of a new or ongoing scam and may have resources to help you determine whether a particular person or entity is legitimate. Complaints to BBB also reflect consumers' opinions that timeshares can be nearly impossible to sell, and consumers often feel misled about the amount and frequency of maintenance fees associated with timeshares.