Timeshare resale scheme preyed on older adults

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If you’re thinking about selling your timeshare through a resale company, research the company first. Read about this recent FTC case against Pro Timeshare Resales, and you’ll know why.

Timeshare Resales is a Florida-based company that called people – many of whom were older adults – and promised to sell their timeshare properties. The company often said it had a buyer in mind and that the sale would occur quickly. Once the timeshare owner agreed, the company would charge an up-front fee, usually of $500 to $2,500.

But, according to the FTC, the company did not sell the property quickly – or even at all. Often, it would ask for additional fees and refuse to grant refunds.

As result of its FTC settlement, Pro Timeshare Resales is now banned from timeshare resale services and telemarketing. It’s not allowed to make misrepresentations or collect any more payments for their timeshare services. Plus, it agreed to surrender more than $3 million.

How can you avoid timeshare resale scams? Here are some things to keep in mind:

  • Check out the reseller. Contact the State Attorney General and local consumer protection agencies in the state where the reseller is located. Ask if they have any complaints on file. You can also search online for complaints.
  • Ask about fees. It’s better to do business with a reseller that takes fees after the timeshare is sold. If you must pay a fee in advance, get refund policies in writing.
  • Get everything in writing. Read the contract carefully to make sure it matches promises you’ve been given verbally. It should include the services the reseller will perform, plus any fees you must pay and when. If the deal isn’t what you expected or wanted, don’t sign the contract.

For more information, check out Timeshares and Vacation Plans. And, if you’ve been a victim of a scam, report it to the FTC.

 

Tagged with: for sale, scam
Blog Topics: 
Homes & Mortgages

Comments

Warning: I have been receiving a lot of spam email messages from apparently random, ordinary people saying they’re interested in buying my timeshare and asking me to get in touuch with them if I’m interested in selling. One problem — I have never owned a timeshare in my entire life (and if I had, how would these random, ordinary individuals have known where to contact me by email?). Looks to me like a new version of the above scam.

This happened to my Mom. She got a letter in the mail stating they wanted to sell her timeshare. She has never had a timeshare. So, I called the company supposedly based out of Tampa FL. I spoke with this man and pretended to go along with his scam for a while. He said all I had to do was pay $55 with my credit card online to "reserve" a spot at this meeting. I asked him to give me the address in Tampa where this meeting was to take place. He gave me a Tampa address. After almost 30 minutes of going along with this, I told him that I knew it was a scam the whole time and that I was turning his phone # into police. He quickly hung up. I looked up the address for this "meeting" that was to take place after I pay him to reserve my spot. On Google it showed an empty storefront for rent. I then attempted to call him back and it was already disconnected. I hope I at least scared him and wasted some of his time.

I get robo calls about this.

I had a time share in Mexico that was not making me any money as a rental. This time share company from Florida contacted me and assured me I would get a full price on my property. I went along with him until he asked for good faith money of $1200.00. I told him I was a agent for the FBI and he quickly hung up and terminated his prepaid phone immediately. Beware folks.

ms.schifferle:l was a scam by American resort international, Ltd.oyester bay beach resort, pearl development NV.concord services inc.sterling bank and trust co. alpheland inc.lnterval lnternational travel.ashley inc,and many more all over the united states

You can report this to the FTC at FTC.gov/Complaint. The information you give will go into a secure database that law enforcement uses for investigations. The comments you put here on the blog don’t go into the law enforcement database.

My parents lost thousands of dollars thru these schemes!!

They can report their experience to the FTC at FTC.gov/Complaint. The information they give will go into a secure database that law enforcement uses for investigations. The comments you put here on the blog don’t go into the law enforcement database.

Please take a look at Best Holiday Club Marketing out of Laredo Texas doing the same evil practice in Cabo St Lucas Mexico. They promised to have a buyer for my Time Share but required an upfront fee to process the sale. After I paid what they asked I was repeatedly given execute after execuse and to-date I have received nothing. This goes back to June of 2014.I have filed complaint after complaint and still no action against this company.

You can report this to the FTC at FTC.gov/Complaint. The information you give will go into a secure database that law enforcement uses for investigations. The comments you put here on the blog don’t go into the law enforcement database.

This information was very helpful.

I was Googling my house and Redfin had it listed as a timeshare. I've owned my home since it was new in 1977 and its never been a timeshare. I am worried now that something is going on that's not right. Not sure how to find out if someone is using my address as a scam.

Magnum Realty of Sacramento, California.
BEWARE, BEWARE, AND BEWARE. They are nothing but crooks saying they have a party interested in purchasing your time share. All they want is your money to place in an escrow for you. then more money, then more money then more. Time to wire the money to you for the sale. Oops w our broker Alex went over the date and the wire can't go through because it is caught up in the govt at the border. You will soon find out no buyer was involved an escrow with you money for the company. Bottom line you are done. No more calls or emails returned. Big Scam.

Just got a letter in the mail stating it was IMPERATIVE that we contact Mark Tyler Settlement Official (Agent # 46211)about our Timeshare being misrepresented. We don't own a timeshare. Would suggest an idea how to stop this from continuing, please. Thank You!

Just received a letter from same person {agent 46211} Well I will not answer or call , this is not the first time probably will not be last

We're getting increasing numbers of scam calls, up to one daily, usually about timeshares, but about anything, -- most of them from in-state numbers (probably faked). Is there an increase of scammers across the nation, or has someone just shared our Do Not Call number around?

BEWARE of these SCAMMERS! Totally avoid Sandia Title Co, Alb., NM and Advance Travel Inc, Phoenix, AZ. Advance Travel solicits you by phone with a timeshare sale offer and Sandia handles the rest. I got scammed losing tens of thousands of dollars under their contract. Each tax or fee requirement paid does not get you closed and funded as guaranteed. It only generates another tax or fee requirement. You must stay in compliance to be guaranteed no financial loss. There is a continuous, ongoing, never ending stream of requirements until you are financially bankrupt. You default and they keep all your money. Evil, evil people. I hope Karma gets them all!

Thank you Lisa Weintraub Schifferle for posting this information. I have received a letter from this individual name Mark Tyler-settlement official Agent No.46211 and phone #1-800-480-3675. I don't have any timeshare or clue what the heck it is. Yet, they mailed me the letter today. I am glad Lisa article gave info what a scammer this individual is. Thank you again Lisa.

Got unsolicited letter today (18 Sep 2018) from Mark Tyler Agent 46211 and thought I would check it out--so glad I did. Thank you for the scam alert, thank you for the good work.

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