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Hey buddy, want to sell your timeshare fast?
This is the typical expression used by the telemarketers to hook people into another fraud: the Timeshare resale companies.
Lots of people are getting ripped off, and not just by the timeshare companies but also by the timeshare resale scam companies.
The reason why this happens is that many people who own a timeshare are desperate to give it away, since they’re not able to keep paying the high costs of maintenance because of the economic downturn.
Also, some of them were practically pushed into buying the property due to the high-pressured timeshare presentations, and others have just outlived the timeshare’s usefulness.
Whichever the reason is, anyone who finds himself in those kinds of situations becomes an easy target for the timeshare resale scam companies.
Timeshare Resale Scam Companies: How They Operate
These companies are also known as “Resale Service Providers”. They contact people, especially through phone calls.
The telemarketers claim to the person on the other side of the phone that the resales market is “hot”, and that selling their timeshare will be an easy job.
All they ask for is an upfront fee of about $300 to $700, which varies depending on the location and size of the unit.
After that, they promise to sell your timeshare for an equal price to your purchase cost, or even greater, so you can also generate profits, and that they count on an exclusive customer portfolio full of potential buyers who are interested in getting your timeshare.
Finally, In order to further entice the person, they guarantee to give them the money back in case they can’t sell the timeshare within a certain period.
That’s how the timeshare resale scam companies operate, described in a concrete manner.
Timeshare Resale Scam Companies: How to Avoid Them
There are 5 signs that will let you know you’re being a victim of a Timeshare Resale Scam Company:
- Unsolicited phone calls
- Upfront fees
- No real estate license
- Unrealistic pricing
- Inflated closing costs
If you notice any of those signs, you’re surely getting scammed. We give you the following tips to be prepared:
- Hang Up. If the company reaches you by phone, and you don’t ask for their services, there’s a huge possibility they’re trying to scam you.
- In case you decide not to hang up and hear what they have to say, never ever give your credit card numbers when they ask for the upfront fee.
- Do research on the company, since a large percentage of them turn out to be fraudulent.
- In no way trust a company that offers an unrealistic pricing, if it’s too good to be true, it’s not real.
- Be suspicious of any offers you receive to resell your timeshare. Check on the web to find out if the costs are realistic.
By following the last advice, you’re protecting yourself from the frauds made by the Timeshare Resale Scam Companies.
It’s also important to mention that the best way to get rid of your timeshare is by canceling the contract. In MTS, we don’t ask for any upfront fees until you see the results.
Contact Mexican Timeshare Solutions for a free consultation on your matter and full advice that will help you cancel your contract and finally get the economic stability we all need.
To receive more information about timeshare resale companies and how to cancel your timeshare, send a WhatsApp to +52 333 239 6589, fill out the contact form, or call us at +1 714 277 3662.
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Leave your comment below and share your opinion with us. To know more about timeshare scams, go to: Timeshare Purchase Scams
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Can someone help me figure out how to get the $59 I paid for a vacation package for Silverleaf Resorts?
the best advice is never pay an upfront fee to sell your timeshare
Timeshare resale companies are a scam because the resale market is poor and most timeshares are worthless
it's very important to know exactly how to avoid them, cause they're rough people, they only want our money, not to help us...
If you sit back and do nothing they get away with it and make millions of dollars off us and we end up with a CC bill to pay while they go sailing on your money. Take action.
These timeshare resales companies are all scammers, they not only own one but many other companies, If one calls and then another resales calls and states the other company is a scammer they are owned by the same company.
As the owner of a timeshare resale company I am sick of reading about these companies that cold call timeshare owners telling them they have already sold their ownership. They are crooks and are committing serious fraud. The timeshare owners need to beaware that any cold calls with a sales rep telling them they have already sold is complete misrepresentation and is not true. Always register your ownership with a safe reliable company who is not telling you a buyer is waiting!
What's worst with these timeshare scams is that they victimized usually those owners who wanted to extract some amount even though they cannot recover the full cost before dumping their timeshare property. So, for some timeshare owners wanting to get rid of their units, beware!
You should never pay an upfront! They also can ask you for extra taxes, comission expenses and so on. So then you are so excited because you're so close to sell your timeshare that only make sense to continue with the transaction.
Everything may seem legitimate, they have professional websites, toll fre, profesional services, it looks like a professional bussines.
Unfortunately when they have your money, everything change, they don't answer your calls, and soon you realize that they went professionals to steal.
Those who ask for large amounts of money up front to sell timeshare should be avoided at all costs. Resale timeshare can be worth as low as $1. If a company says they have buyers for your timeshare at high prices let them take their AGREED commission out of the sale proceeds. No sale no money. This unfortunately is a wrought found worldwide not just in Mexico.
As long as there are those foolish enough to pay upfront, this practice will continue.
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