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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.

So i see alot of comments about people receiving scams but where do i report these people and how do i make sure they are not using my name?

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

Same Scam to stop timeshare owners liabilities. Phone 1-800-480-3675, nary Tyler settlement official agent 46211

Also got the same letter about my timeshare may have been misrepresented from Mark Tyler Settlement Official (Agent # 46211) to call at 800-480-3675 with a qualifying number code. I am very happy with my purchases and will not be calling.

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!

I just received a letter from this man name Mark Tyler-settlement official Agent No. 46211 and their phone # 1-800-480-3675. Wow, i don't have any timeshare and have no clue what the heck that is. What a scammer this man or whoever this individual name Mark Tyler. Beware!! I am glad Lisa W. Schifferle post this info for us to find out this was all a scam. Thank you!!

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.

As some have already stated, I have a letter to me at my address with my former last name from my previous marriage not my name now. I was to call 1-800-480-3675 about my timeshare ownership being represented. Letter was from Mark Tyler Settlement Official Agent No. 46211. I have NEVER owned a Timeshare. Then I went looking online for scams. Went through True Caller with the phone number and True Caller reports it as an IRS scam. Throwing this letter away!

Over time received several notifications about time shares, I don't even own a time share. Most recent from Mark Tyler, settlement official agent 46211, no address or phone number and it said our records show that the benefits of your timeshare ownership may have been misrepresented and to contact us on or before 11/29/2018. I called the 1-800-480-3675 number and explained I never owned a time share and to remove me from their mailing list, I was accused of lying to him to avoid paying fees!!!

We have been scammed by Gold Coast Real Estate inc. in New York, NY by a Timeshare Resale Scam that has been going on over 14 months! We have lost over $185,000. They called us saying they had a buyer for our Timeshare in Cancun, MX. with no upfront fees only 7% broker fee. Started wiring money to Mexico for a Tax id # to do business in Mexico (renew every 90 days), Recording fees, Invoices from the SAT office in Mexico City, MX. Different management people from Gold Coast would take over. Mathew Simmons (supposedly owner of Gold Coast) took over, didn't like the way his company was being represented. "F" rating with BBB. NO rating when I checked in August 2017. Multiple buyers - one was Harvey Thoms from England, supposedly buying 63 Mexican Timeshares! We had a Sales Contract showing everything we pay up front would be reimbursed at closing. Promissory Notes, Escrow Account. We really believed that Mathew Simmons was trying to help the clients that were scammed. Supposedly 7 out 63 clients had been scammed??? Thought with Promissory notes we were covered. So Stupid. We have lost ALL of our Savings, taken out loans, borrowed from Family and Friends, Just Horrible.......... Reported to the FTC, Attorney General, BBB, ecommerce.gov, no one can help. Please help us find the right agency that can help us! Thank You!!

This sounds exactly like our experience with Gold Coast Real Estate and Mathew Simmon and Global Alpha for a total of $85,000. It is horrible!

Contact the FBI field office in your area.

I signed up to Travelers Exchange Club who are to rent out timeshare hot weeks they want $1100 dollars to sign up. they have very official documents drawn up. then about 3 months later a representative calls up says they have a rental. U HAUL CO> and they want to rent 6 hot weeks for $1500 a week. but they need the taxes prepaid and then they need money to hold until they get the signed rental agreement back and all this will be refunded along with the rental money which never happens. ahd all the money that was wired is gone and so are they. when the Travelers XC was called they said this agent of theirs Charles Richards no longer works for them SORRY. so beware if this happens to you. I paid $4800 to find this out. SCAMED

You can help law enforcement by reporting this to the FTC at www.FTC.gov/Complaint. The information you give goes into a secure database that the FTC and other law enforcement agencies across the country use for investigations. Thank you.

I have received the same scrape of paper from a Mark Tyler Settlement Official agent # 46211. I do not own a timeshare. Immediately looked online. Found a few of the same except I received my letter today, 01/17/2019. Thanks for all of you who have received this piece of junk mail & shared. When federal workers start working again I'll be reporting it.

Just got same Mark Tyler 'urgent' notification today,20190228.

has anyone heard anything about agoda out of mexico about buying time shares

Received the same letter or mark Tyler agent number 46211. Glad I read these post before dialing the number 800-480-3675.

Just got Mark Tyler "URGENT " notification today 3/15/2019

AFTER TRYING TO SELL A TIMESHARE, I GOT A CALL FROM WILLLIAM ANDREWS BURNS WHO SAY IT WILL REFUND THE MONEY I LOST FROM SCAMS IF I PAY THEM A RECOVERY FEE OF $2800. I REMOVED THE MONEY FROM MY CHECKING ACCOUNT BUT THEY ARE CALLING TO ASSURE ME THAT THEY ARE LISTED AS A PLUS ON DUNN AND BRADSTREET AND WISH TO CONTINUE THE SEARCH FOR LOST MONEY AND THE SALE OF 3 RCI WEEKS. \ FIRST

Now they are using USPS, sending a notice from US CONSUMER PROTECTION (in very small print) 'Accounting Division' marked URGENT with the blurb 'benefits of your timeshare ownership may have been represented -- you may qualify abatement of rising .......)

....imperative you contact us on or before 5/29/2019 9PM
CALL NOW! 1-800-480-3675
Signature Block is:
Mark Tyler Settlement Official Agent No. 46211

We've NEVER owned a time share so I googled the number + SCAM & the FIRST site to popup was:
Timeshare resale scheme preyed on older adults - Consumer.ftc.gov https://www.consumer.ftc.gov/blog/2018/.../timeshare-resale-scheme-preye......
May 22, 2018 - And, if you've been a victim of a scam, report it to the FTC. .... I was to call 1-800-480-3675 about my timeshare ownership being represented.
Apparently another lesson needs to be delivered

We got mail from Mark Tyler today. Looked very official, almost like it came from the government. Urgent! Imperative! Can’t these scammers be stopped? Some people are going to fall for this fraud.

Got one of those Mark Tyler timeshare letters for my dad. Not only has he never owned a timeshare but he died 16 years ago. Thanks for your posts. Now I know it's the scam I suspected.

ours is different..came in the mail(usps) says my benefits may have been misrepresented...we don't own a timeshare..

I have been approached by property management enterprises inc New Orleans LA to buy my timeshare. Alexander Savage. Anyone heard of them?

My husband received a “FINAL NOTICE” from “Consumer Protection US” (very small letters) “Accounting Division” with Official Notification No. and Code No. but the contact phone number is 800-965-2481 and Settlement Official is Melanie Kennedy, Agent No. 360.
We do own a timeshare and have been scammed out of $5,000 by Relief Solutions so I google everything. Thanks to all who have posted so others can beware.

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