Be on the lookout for timeshare resale phonies

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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

I've also been contacted by W&A. Although I was told they have almost completed their purchase of 100 weeks at Villa Del Palmar, membership services has no knowledge of either them or John Hoyt at Title Executives Agency.
Had my attorney do a check and he came up with a couple of additional "red flags" I hadn't thought of.

What are the other red flags...is it a scam?

The blog post on this page and this FTC article about timeshares and vacation plans have information to help you spot a scam.

I have also been contacted by W & A Consulting to buy my timeshare. I'm curious about the red flags! Would you share?

You can read the blog post on this page and this FTC article about timeshares and vacation plans for information that will help you spot a scam

we've also been contacted by W&A, and they sent us a nice-looking contract that sounded good. Of course they wanted us to 'wire' about $9000 up front to cover the taxes in Mexico. I've reviewed the FTC, but it's not so clear. They do warn, but I wish it was clearer and more definite.

This FTC article abtou timeshares and vacation plans has information to help you. For example, don’t agree to anything on the phone or online until you check on the reseller. Contact the state Attorney General and local consumer protection agencies in the state where the reseller is located. Ask if any complaints are on file.

You also can search online for complaints. Type the company name and the word "complaint" or "reviews" in your browser search bar to see what other people say.

In general, the FTC warns people against sending money to someone you've never met. If you wire money, it's like sending cash. The person on the other end can take your money quickly, no matter what he's promised you.

Anytime you have to pay upfront fees it is a scam when being approached by Premier Rental Solutions and they want $2,200 upfront in no way am I going to fall for that

Has anyone heard of Resort Vacations Inc? We received a call from them yesterday and apparently they got our info from a form we submitted when we went to game at Staples Center. They are sending a group of people from a certain demographic on expensive vacations to "test a new form of travel" and hoping that these people will recommend them to their friends and etc... They said all we need to do is visit and meet them for 90 mins.

Has anyone been approached by Sales Management Systems LTD from Elmhurst, IL? They want to purchase my UVC for more than we paid for it. Using a title company, and requiring a 6% fee/

I was approached by the same company. I am trying to investigate. They sent me their license number and all. I didn't find any filings with the BBB.

They called me too and sent a letter of intent today. Let me know if you find out anything and I will do the same.

We have a similar time share scam by Complete Capital & Business Services LLC out of Denver Colorado. State they do not charge any upfront fees but have we signed the contract that did not mention any fees. The sent a form requesting $4800 to be wired to a Mexican bank for the Publico Notario fees. We will not be sending this money. So now we are getting daily calls stating they will be bringing a breach of contract law suit against us. Bring the contract to our lawyer tonigh

You can report this to the FTC at FTC.gov/complaint. The information you give will go into a database that law enforcement uses for investigations nationwide.

You can also report to your state Attorney General’s office.

Complete Capital & Business Services LLC out of Denver Colorado is a complete scam. They work with S&R Title in Atlanta George and they are also a scam. We fell for it and sent money and they came back with "sorry but due to unforeseen circumstances we aren't able to close on your transaction. You will receive a full refund within 10 business days". That was on May 9th and needless to say we've gotten nothing back.

Did you find out anymore about this company? I have been contacted by them as well!

I have also been contacted by Sales Management Systems out of Elmhurst, IL. It seems to good to be true (the typical - they'll pay more for our UVC membership than we paid originally). Has anyone figured out if this was a scam?

I was approached by Sales Management Systems out of Elmhurst, IL and it is a scam. They do not physically reside at 340 W. Butterfield Road in Elmhurst (even though this is an office building). Sales Management Systems, LTD is not a registered business (Sales & Management Systems is, but it is completely different business). Further, they are using the Broker License # of a an actual Real Estate agent out of Hampshire, IL. She has hired an attorney and has filed a cease and assist order. DO NOT GIVE ANY INFORMATION TO SALES MANAGEMENT SYSTEMS, LTD. Scammers.

has anybody heard about the company's diamond international events services out of las vegas? and western title escrow corporation? wanting to buy timeshares

We received an offer for resale from them. They made it look like they were Diamond Resorts International on a major "buyback" of units at a very high price. Claimed to be working with Grand Mayan resorts and obviously had some accurate information, but also some false information. The 2 companies are located in LasVegas, but the addresses are different, the logos are different. They are obviously 2 different companies. Beware!

Hi there: We also recently were contacted by Diamond International Events Services and were told we could get $24,000 US for our timeshare at the Mayan Palace. We paid $5,600 US in December 2009. Beware is right. They sounded very professional, they also had a copy of our "contract" in front of them and were definitely smooth talkers. I really do feel very sorry for people who believe them and send money of some kind as this would be a difficult situation to get out of after. I am very glad to have found this website and read a lot of comments with interest. I will pass the word on to others that have timeshares. Thank you to all of you for your advice.

We were just about to sign & return an intent to sell Mayan Palace membership for over 3 times what we paid 5 years ago...has ANYONE dealt with Diamond International Events Services? After reading this thread, "no upfront fees" could mean nothing in a foreign escrow process!

Anyone been sent a contract by First Brokers/Global Federal Trust in St. Louis, MO offering way more money than your timeshare is reasonably worth??

I was approached by All American Real Estate, LLC in Oregon offering me a lot of money to by 10 weeks from the back end of my 15year Genesis Collections agreement at Fiesta Americana and then American International Investment Group sent a contract with a buyer (I did not sign anything) to go forward. I asked about a few items on the contract (regarding the 5% fee etc) and they will not respond via email which made me cautious, they want to answer my questions via phone. I guess so there is no paper trail. Anyone else approached by these companies?

We are being harassed by Network Brokerage Corporation out of New York with exactly the same offer for our Sunset Membership. Previously, we had been approached by about 6 other scam companies trying to buy it. We are treating this the same way. NBC flips from wanting to get 10 weeks of rentals to a purchase offer. Can not find anything on this company and the list of tenants
in the building they say they are in does not include them.

I just received a call today from Network Brokerage Corporation. Are they a scam or real?

KJConsulting: I am also being pursued by NBC and they want $937 to pay for 30% of the SAT work as relates to Mexican Taxes. This will be reimbursed when the closing occurs. I this a scam or fraud?

Scam!

Has anyone been contacted by Mesa Advisory Group in Arizona offering to sell your timeshare but you have to pay a 6% tax upfront

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!!!!

Do you have anymore information on this Ian Thompson? We have received a call also. Thank you.

hi there my name is Scott I was also contacted by in Thompson to close on a timeshare we have and he can be reached at area code 210 3074 282 but I do not believe he is very honest and what he is doing is not right we must stop him thank you

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!!

Thank you!! I was just called today with an offer to buy my UVC membership out of an investment company in Chicago. They were also offering us more than what we paid!

I also just received a call from the investment company in Chicago offering to buy my Unlimited Vacation Club contract. It was called Estate Exchange Group LLC. They are offering me $29,300 for a timeshare that we only paid $14,000 for. They emailed me a contract, and they already had my email address and both my work and cell phone number. This sounds like a definite scam. If it seems too good to be true, it usually is!! Won't be talking to them - that is for sure. They didn't tell me about any upfront fees yet, but I'm sure they will if I were to call back. It did say something about paying a 6% fee at closing though. NOT!

We also received a call and an email with the amount of $35,200.00 offered to purchase our Unlimited Vacation Club on January 7, 2015. That is almost double what we paid for it in November, 2014. We have considered it because of not being able to see a huge savings in other travels and UVC will not cancel and refund us our $5300 that we paid at the resort...very discouraging...

I have been contacted by Pentagon Management Property, LLC out of Chicago. Sales pitch sounded like a company out of FL which I reported to the FL Consumer Department and this company insisted that I contacted them about the sale which was a lie. Checking those in rental properties for the Pentagon Management Property, LLC, I see the tenants have had problems with them. I believe they are a scam and I am not sending them my money. I informed the salesperson that called I would need time to review their business rating and property and they agreed. They will not get my timeshare. I am sending all documents to the Chicago Department of Consumer Protection and Federal agencies as necessary. They need to be stopped.

Hi There,Thanks so much for your above message. I have been contacted by the same company and am trying to find out if they are legitimate or if they are going to lead me down a Rabbit Hole!

I have been contacted by Pentagon Management Propery as well. I thought this to be a legitimate offer until Michael and Emma insisted on 10% but Nader fee that I pay to them up front. tomorrow I will contact the federal authorities in Illinios. Once you look at the documents they provide you will see the less than proper appearance. The sad part is....I really do not want the time share and thought the timing was fantastic.

If you look up the address of this "company" you will find that it's located at a Starbucks! Definite scam!

Danielle, we also received this call, but they didn't offer more than we paid for the time share. Have tried to verify company and it seem legit so far. What did you find out about Estate Exchange Group?

I got a call from Pentagon Mgmt Property from Chicago. They want me to sign a resale agreement, but on one line it states I need to pay a $3125 Binder fee that will be paid back to me at closing. According to the sales guy this is "normal" when dealing with a timeshare that is from Mexico. I think I will listen to others who've posted that this is a warning. No money up front.

Danielle, I received the same call this week from a company called S&S Prime advisors. They initial offer is very similar to yours and currently the title company is evaluating if I'm a good prospect for them. I'm glad I found these postings because the offer is just too good to be true.Roberto

We got a call from Joseph Ramos at S&S Prime Advisors on Thurs (3 days ago). He offered us double what we paid in an offer letter. I'm going to report them and tell him to remove my contact info from his list. Just curious what happened to you after they "evaluated" your file? We are not going farther than agreeing to see their offer.

I also got a call from Joseph Ramos at S&S Prime Advisor and in his follow up letter he offered us double what we paid. I replied back "Not interested. Do not contact me again" with CC to the FBI and FTC.

Have you pursued this proposal? What was the end result? Your story sounds very similar to mine. No upfront fees

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