AARP Fraud Watch

Beware of Timeshare Resale Scams

Dear Ben,

Buying timeshare vacation properties used to be fraught with fraud risks. Now, 
it’s when you sell. Timeshare owners, beware of this scam!

How it Works:

    You receive a phone call from a company that claims to have a buyer for 
your timeshare property. The caller even gives you the name and number of the 
prospective buyer, who confirms interest in the sale.
    The caller faxes you signed documents that appear to be legitimate, along 
with a request for your credit card number to pay to set up escrow and title 
services with a promise you’ll get that money back once the deal closes.
    Weeks pass, and then months. You never hear back from the company and 
you’ve lost the upfront fee, which could be in the thousands of dollars.

What You Should Know:

    Timeshare owners who get caught up in this scam often have no recourse. By 
the time they realize they have been scammed, it’s usually too late to open a 
dispute with the credit card company.

What You Should Do:
If you’re looking to sell your timeshare, visit Resale Center of the American 
Resort Development Association and heed these three basic rules:

    Don’t expect much: Timeshares are a product, not an investment. Unless the 
property is in a very desirable location, you’re probably not going to get
much 
for it.
    Ask the resort if it has a formal resale program.
    If you receive a call from someone telling you they have a buyer and all 
you have to do is pay some upfront money, hang up.

Please share this important alert with friends and family.

Kristin Keckeisen
Fraud Watch Network

P.S. Spotted a scam?  Tell us about it.  Our scam-tracking map gives you 
information about the latest scams targeting people in your state.  You’ll
also 
find first-hand accounts from scam-spotters who are sharing their experiences 
so you know how to protect yourself and your family.
The AARP Fraud Watch Network connects you to the latest information about ID 
theft and fraud so you can safeguard your personal information and your 
pocketbook.
Visit the site ›
GET HELP:
If you or someone you know has been a victim of identity theft or fraud, 
contact the AARP Foundation Fraud Fighter Center at 877-908-3360.
FORWARD TO A FRIEND:
Share this alert with your family and friends so they know how to spot the 
common strategies scammers use and have the tools they need to defend 
themselves against their tricks.
Forward this alert ›
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