Be on the lookout for timeshare resale phonies

The FTC and state consumer protection agencies have shut down dishonest timeshare resellers for bilking timeshare owners out of millions of dollars. If you’re selling a timeshare, listen carefully for the promise of lots of money quickly and a request for an upfront fee. Those are two key signs of timeshare resale scam — and someone you don’t want to do business with.     

In one recent case, Vacation Property Services claimed to represent big-name companies eager to buy timeshares for business travel and events. The company guaranteed timeshare owners hefty returns if they moved quickly on the offer. But first, the company said the owner had to pay from $500 to $2,000, via credit card, in “registration” and other fees to seal the deal.

Timeshare Resale Scams Infographic

Timeshare Resale Scams
Infographic

The company’s promises of ready buyers, fast sales, big profits and money-back guarantees turned out to be lies. What’s more, the timeshare owners were stuck with debt on their credit cards from paying the “fee” after the company told them that the sale would be complete — and that they’d have their money — by the time the credit card bill came.

If you own a timeshare, question any offers to help you resell it. Be skeptical of companies that:

  • claim the market in your area is “hot” and that they’re “overwhelmed” with buyer requests
  • say they have buyers ready to purchase your timeshare — or promise to sell your timeshare within a specific time
  • guarantee you’ll get big returns on your resale
  • require you to pay fees upfront — even if there’s the promise of a “money-back guarantee”
  • don’t provide a contract — or provide a contract that doesn’t accurately reflect conversations you had   

Read about buying and selling a timeshare, or check out our infographic to see how timeshare resale scams typically work.

Tagged with: scam, travel
Blog Topics: 
Homes & Mortgages

Comments

check out sell my timeshare. They want big bucks upfront and says they have a lot of buyers. Thanks.

Today I was almost scamed by a caller that told me to go to CVS and get green dot for $205 dollars and then call the number they gave and they would give me directions what I had to do to get my $9000 grant. But I got upset and called the FTC they said the federal Goverment does not charge a fee or does business in this way. Whats going on with these callers scanning people in this way

On 19 May 2014 at approximately 1215 PM I received a telephone call from 949-776-1604 from an organization claiming to be able to lower my interest rate to 6.99%. This is the third such call I have received in as many weeks and the first one with an identifiable phone number. I selected 1 to talk to a human being who said that they represented Chase and Bank of America. His accent and grammar were common to that which I have heard from Asian Indians and there was sufficient lag time to have the telephone call connected to India. This gentleman knew my credit card balance, payment history, and pronounced my last name better than most Americans. He then asked for my credit card number, SSN, address, and mother's maiden name. I knew that this was a phishing call and did not provide any of this information. I instead told him that I would be contacting Chase, the Better Business Bureau, and the Federal Trade Commission. I also told him to remove my phone number from their records and to never contact me again.
I have already contacted Customer Services with Chase and reported this. I have asked that at statement be added to my account that I would not be requesting additional credit, address change, or any other changes.

We have call from Ian Thompson of San Antonio Title (supposedly) to sell time share to Pro Alliance Management. First we have to sign contract and send money to them. Would love to send you all copies of paperwork. My husband is tempted, I am not!!!!

Peachtree and Cincinnati Premier...

BEWARE of a company called International Luxury Events. They are contacting timeshare owners and offering to buy at 60-75% above your purchase price. We confirmed they are not even a real company- and their business location is fraudulent. They have been reported to the FTC, Internet Crime Complaint Center and the Attorney General. They call from phone #'s 323-786-1958, 818-924-2816 with names Brian Wright, David Snidee or Gregory White. But they are CLEARLY trying to imitate someone else, as their English is not great. Potential Spanish accent. Suspected to be in Mexico.

YES!!!! Just dealt with them again today! Received phone calls from the same numbers asking if I was interested in selling my Unlimited Vacation Club timeshare, because they have companies that buy them and send clients there and then write it off. We had to sign a paper and send it back. Come to find they were going to pay us almost double what we paid for it! RED FLAG!! I was then told that I had to pay a $3,500 sales tax to Mexico b/c that's where the company that is buying it is located and I couldn't receive my $21,000 until that was paid. If I was to opt out I would be charged a 12% penalty and it would go into collections if we didn't pay up! Thank God for Google, otherwise I would have considered it since I just lost my job! The best part is that my husband called them back and ripped them a new one and they called me a few days later like nothing happened! They're scamming so many people they don't even know who they talk to! When something seems too good to be true, it usually is!! Don't fall for it!!

I have received frequent calls from Sell my Time share. This is an agressive organization. HANG UP immediately Mr. David is a scam artist and insist that he is doing you a favor and you should be glad he even bother to call. The man harrassed me and I finally got rid of him when I told him I reported him to the FTC and Consumer Fraud. Several months later he called back using a different name...I hung up.

they call me everyday

Anyone heard of international corporate brokers out of Texas? Recent calls with promise of sale but requesting an upfront 10% transfer fee for my puerto Vallarta timeshare. They are sending mr a contract , more to come.

My recent scam experience was from Sam baker at Bell resort sales out of Amarillo, TX. He said he had a buyer for my timeshare. He only asked for $175 for title search and a tax fee. His commission was to be paid for by the buyer. I was to send the money western union to their branch in Daytona beach, fl. He would then send me the contract by fed ex. I had already received a contract by email. Needless to say I took the bait. After he received his money the company website did not exist, the company address was bogus and he does not respond to his phone or email. Seems like there should be more to this scam than $175. If anyone else has experienced this please let me know.

Feminmk. I also received numerous emails from Mr. Baker and I also sent him about the same amount. Just like you, I haven't heard back from him and I he won't respond to emails, txt msgs, and his direct line has a "mailbox full" message. His company line lets me leave a voicemail but no return calls.

BEWARE INTERNATIONAL LUXURY EVENTS calling from 323 786-1958. How they got my HOME number is beyond me. A guy with the last name of Simmons left a message twice. I returned the call because he spoke so fast on the phone I thought is was from my UVC membership that I own. When I called back and told him I already returned the call and left a message, asked why he was again calling and why on my home phone, he said "It's time to pull up your big girl panties and take care of business". I am now online finding out what a piece of crap business this is. As an attorney, it is my hope that some protections will be provided to those sucked in by this fast-talking, disrepectful obvious scammer who would not even tell me the name of the company he was working for. I had to google the number to find them.

Reply company called property connect sent me letter of intent to buy my Uvc membership gave me escrow company transfer group both out of Chicago gave me a contract told me no money out of my pocket at all still scared anybody have any good advice thanks

Hey Tommy, did you ever receive your money. I have had similar experience with Vacation Properties Intl from LA telling me that they have somebody to buy my timeshare......thanks, Y

I'm going through the same thing with property connect

I got the same thing. Property Connect LLC in Chicago. Guy called me then sent the letter of intent. I'm here investigating if this is legit. Trying to figure this out.

We've heard from them too. It's a scam. I searched their address and then came up with a real estate company who manages the building. Their address is a vacant suite. We got so far as speaking with their escrow agent who was insisting on us paying the transfer fee by wire transfer to a bank in Mexico. We refused saying we were willing to complete the transaction but on the basis that all proceeds, including the transfer fee that they agreed to pay, would be paid to our lawyer in trust. They have phoned and objected to this but still sound professional on the phone. The challenge now is to get them to stop calling.

Trying to find out if Regency Consulting Group is a reputable company, they called me about selling my timeshare.

Watch out for offers to buy your timeshare from:
Laura Borchers or Paul Kelleher
They will send you a bad cashier's check (usually $2,900) and ask you to forward a part of the money ($2,400) to an agent Samuel Kaplan or Samuel Boas who is supposed to close the deal. You lose the money forwarded. Fortunately, I got onto the scam before sending any money.

A company called Property connect offered to buy my unlimited vacation club membership for $21,000 just this week. They know too much about my contract. Someone inside unlimited is in on this and giving out member info for this scam. I received a contract and was told a wealthy Hong Kong business wanted the membership. I just would owe a 6% fee. They must be stopped. It's bad enough I bought the membership, now it has introduced more scanners into my life. Who needs this stress

My husband & I were contacted by a company in Ok, Property Management,ML but after contacting the State of Ok we found out they are using this name but they are not a real company. Many complaint have been filled. They are also using another Company Ross Financials in TX, there is No such company in the state. Buyer Beware if it sounds too good it is a Fraud!

A guy supposedly with Property Connect in Chicago has called me 3 times in the past
week offering $21,000 to purchase my Unlimited Vacation Club membership. It sounded too good to be true and I suspected it was a scam but he has rather convincing answered all of my questions about why a company from Hong Kong would want to pay me double what I paid for the membership. Thanks to all of you who have posted comments about this definitely being a scam. I won't let him waste anymore of my time. I agree with Patty above, it is bad enough that I fell for the sales pitch and bought the membership in the first place. I sure don't need further stress about it.

Property Connect, Chicago and Transfer Group Inc, Carpentersville (Escrow company) seem to be involved in a SCAM. They offered to buy my Unlimited Vacation Club membership for more than I paid for. They definitely know all the details about the contract! Agree with Patty - someone inside UVC, or former UVC employees must be involved. These people MUST be stopped!! DO NOT wire any money!!! DO NOT believe them, even if they sound very professional and give you Broker License No., etc., etc. It is a SCAM! Please complain to UVC and also send a complaint to the Attorney General and to BBB. Let's stop them!

I got the same offer as patty. The salesman on the phone was obnoxious (high pressure). They keep calling me, but i don't answer. The offer is nice, but it seems to require 6% from me; conditions are unclear at this point (they have asked me to sign a letter of intent, which I have not done. Has anyone out there actually gone through with the offer? Did you get scammed?

I got the same thing last week from Property Connect LLC from Illinois for my UVC membership. The agent, Candice Cole, even offered me their Illinois Secretary of State business license number (which exists). I got the whole story about the Hong Kong company and how I just needed to sign the letter of intent. My funds would be held in escrow until the due diligence was complete, then I would receive my money MINUS the 6% commission. Sounds easy. No cost to me. But, now thanks to this forum I know that they will tell me my money won't be released from escrow until I send some fees or taxes. I had been contacted the week prior by another company, Property Management & Advertising Consultants Inc. from Mobile Alabama. The agent was David Gomez. I had mentioned to Candice at Property Connect LLC that I had a better offer from David at MAC Inc. and she insisted that I should check on their business and brokers license in Alabama because she is sure they are a fraud. I checked. They are registered in Alabama just like Property Connect LLC is in Illinois. The Alabama outfit had the EXACT same story as the Illinois outfit; even a Hong Kong buying company and no cash upfront with commisions taken from the escrow final sale. They are all aggressive and seem super sketchy. So, we all know about Property Connect LLC in Chicago. Has anyone dealt with Management & Advertising Consultants Inc. from Mobile, Alabama?

Very interesting......and frustrating. I have been dealing with Property Connect and Transfer Group for the past several weeks -- trying to sell a UVC contract to a Chinese buyer. They have sent lots of official looking docs, including a form purportedly from the Mexican SAT (tax) office to cover a 16% sales tax, and an insurance invoice (on AIG letterhead) for a premium of $3528 to cover Banco de Mexico "underwriting" risk associated with their approval of the wire transfer of funds to me.
They claim that all this is being reimbursed by the Buyer and they are supposed to be sending me a bank statement today to verify the funds.

I have already wired $1750 to Transfer Group, which is supposed to cover a 10% transfer fee to UVC, and an additional $1850 to cover a portion of the 16% SAT tax. Now they are asking for the insurance premium mentioned above. While I would love to get rid of this contract, I don't feel very smart right now! Anyone else?

I think they will call back and offer you more money! - same happened to me. These people call under different company names and they change their own names frequently. I got calls from a James A. Ross Property Connect LLC in Chicago. I checked his Broker License no. and it exists…?? Got also calls from a Tim or Jim Clarke, Property Connect LLC. Don't know anything about Management & Advertising Consultants, - but received calls from Mark Mendoza of Mid-West Global Advisors several weeks ago with a similar offer. According to other comments on the internet, they might be involved in the same scam. A note to Unlimited Vacation Club (UVC) members; Received 2 calls from an apparent UVC agent last week inquiring membership details, etc. Called UVC to check if they did initiated the call, they said NO.

I'm in the middle of the same deal with Property Connect and Transfer Group. It all sounds too good to be true (they're offering double what I paid for my timeshare). It was supposed to be no money up front, but now they want the penalty fee that I'll be charged for selling by UVC, which they claim they will reimburse to me. This thing has seemed fishy all along and given the thick accents and clearly fake names the reps are giving me, plus the sketchiness of their company's physical presence, I'm going to pull the plug. Too bad I already spent $600 on lawyer fees to check this out before they asked for money up front.

PHONE NUMBER BEING USED BY PROPERY CONECT LLC IS (872)225-0748. I agree with they must be calling so many they can't keep their info straight. They do call persistently. Hong Kong company is legit but probably doesn't even know they are being used. UVC insider sounds correct as they have every bit of my info. I had researched earlier but not found this blog. The last call sounded to be overseas and the information was confused, so it was time to check further. Thanks everyone..didn't lose a dime to this and with my way of speaking they won't be calling back after our next contact. They are criminal it's no holds barred now.

Thanks for the information. I have called UVC and they said that the owners of the membership is public knowledge by law so Property Connect can get your information by requesting it. I looked at the
Property Connect web site and the bbb of Illinois and there was nothing about them positive or negative. I am glad that I did more research and will not do business with them. The last thing I want is to fall for a scam. I am wondering if there is any place to sell my UVC membership without getting a scam.

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