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Timeshare News – Timeshare Scams of All Types Continue to Snag New Victims According to Better Business Bureau

March 12, 2012 By

For some time now the Better Business Bureau has been trying to warn people about the dangers that timeshare scams can present. However, timeshare scams of all types – including sales scams, resale scams, and recovery scams – have been on a steady rise and now the BBB is trying harder than ever to educated buyers and owners of the dangers this industry can hold.

Timeshare sales scams, in which fraudulent companies offer timeshares for sale, have been around for a long time. Usually, the scammer offer a property for sale but require the buyer to pay what they consider to be closing costs or taxes before any contrast have been drafted and often disappear with several thousands of dollars of the victims money. Since these scams became so well-known and timeshare buyers became more wary of these situations, the scammers had to find another way to steal money from people. They then began targeting owners who had already been scammed, often by their own company, offering to help recover money lost in the original scam (for a hefty upfront fee, of course) only to once again pocket the money.

State legislatures, most recently in Florida, have begun drafting and passing laws that help protect timeshare owners and expose scams by requiring resale companies to disclose the terms of their agreement before a contract is signed, as well as provide contact information for any buyers they claim to have lined up for a property. It is a great sign that authorities are beginning to take the threat of timeshare fraud seriously, but for thousands of unfortunate owners it is too late.

However, despite the strides local governments and agencies like the BBB are taking to inform and protect timeshare owners, the only real way to avoid timeshare resale scams is to do your research and work with reputable companies to get rid of your timeshare, and never pay upfront fees in excess of $100 no matter what the company tells you.

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Vacation Timeshare Sales Reach New High

March 6, 2012 By

Timeshares are a great way to enjoy spending time with your family in a favorite destination year after year. They allow you the opportunity to plan vacations either by the fact that you use he same unit at the same time each year or by allowing you to plan   the perfect getaway to anywhere your heart desires through flexible points and exchange programs. However, due to the uncertain economic times as of late, many owners are trying to get rid of these properties to save money, which means vacation timeshare sales on the secondary market are at an all time high. But what does this mean if you are trying to sell your timeshare, and what does it mean for those interested in buying a property on the secondary market?

Supply is far greater than the demand on the timeshare resale market, which is great news is you are interested in buying a timeshare. It truly is a buyers market, and people who want to buy a timeshare on the secondary market can almost name their price and get timeshares in highly desirable locales for a steal. Unfortunately, trying to sell a timeshare on the secondary market is the exact opposite.

Vacation timeshare sales for those trying to get rid of a timeshare can be a huge, time consuming hassle for a lot of owners. Not only are timeshares only worth a fraction of what they originally paid for them, but they are notoriously difficult to get rid of and the chance of running into timeshare resale fraud is extremely high. It makes the initial decision to buy a timeshare in the first place seem like a huge mistake.

A lot of people thoroughly enjoy their timeshares until they can no longer can afford them or realistically keep them, and fortunately getting rid of your timeshare doesn’t have to be a huge chore. There are professionals out there who work to sell your timeshare as quickly as possible without you having to deal with all the hassle that can come with vacation timeshare sales, such as the companies we proudly recommend here at TimeshareSecrets.com. The professionals we work with never charge upfront fees for their services and boast a track record of helping thousands of timeshare owners get out of their timeshare contracts quickly and easily with their satisfaction 100% guaranteed and our consultation is absolutely free. You won’t find a better offer anywhere else.

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Timeshare News – Timeshare Fraud Legislation Gains Support in Florida

February 4, 2012 By

The nation’s first law to prevent timeshare resale scams is gaining some serious ground in Florida. The law, which i known as Florida’s Timeshare Resale Accountability Act (S.B. 1408), was unanimously approved by the state senate and house committees and is on course to become the first law of its kind.

The bill aims to protect timeshare owners who are trying to sell their timeshares after years of complaints and growing instances of fraud. It requires timeshare resale companies to provide sellers information on buyers they claim are interested in buying the property, including the buyer’s name, address, and telephone number. Legislators hope this will discourage fraudulent companies from lying to sellers about having interested buyers when there is none in order to get them to work with them.

It also forces companies to disclose fees before the seller signs any agreement and provides the seller with an “unwaivable right to cancel” the listing within 10 days, but exempts condos and other developers that offer timeshare resale services. Other states have also begun to draft laws to protect consumers and timeshare owners from the ever-growing threat of timeshare fraud.

The Better Business Bureau ranked timeshare resale scams at the #4 spot on their annual list of common consumer scams for 2010 and these frauds take millions of dollars from timeshare owners each year. Since Florida is home to 25% of the country’s timeshares, and these properties make up a large percentage of the state’s real estate business, legislation that not only helps protect these properties but their owners is absolutely essential.

The only way to 100% avoid timeshare resale scams is to educated yourself so you can identify these fraud and only work with reputable and successful timeshare resale resources. Timeshares are already enough of a financial burden, so leaving yourself open to fall victim to these scams only deepens the potential trouble.

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Timeshare News – Colorado Introduces Timeshare Resale Regulation Legislation

January 28, 2012 By

Jan. 28, 2012 – This past week, a Colorado representative introduced new legislation in hopes of cutting down on timeshare resale scams. The bill, HB-1116 “Concerning Trade Practices Related to Timeshare Resale Transactions” was brought about by Representative Carole Murray and is very similar to the Florida timeshare bill. However, unlike similar bills it aims to specifically benefit the consumer by regulating timeshare relief companies.

The bill has three main parts that it hopes will deter fraudulent practices by timeshare resale companies and protect timeshare owners who are trying to get rid of their timeshare properties. It forces companies to disclose their requirements for “timeshare resale transfer agreements, allows customers to opt out of the agreement under Colorado’s 5-day cancellation policy, and bans upfront fees – customers are only required to pay after the company provides its services. While this provides obvious benefits to consumers, resorts and timeshare resale companies are concerned about the complications this may impose on their ability to collect fees from people who are trying to sell their timeshare, though it also aims to protect resorts and developers from fraud as well and will allow legitimate companies to continue with business as usual and eliminate some of the fraudulent competition.

However, it is important to realize that the only real way to avoid timeshare resale scams is to do your research before you agree to begin working with a company and to only use trusted resources when trying to find a timeshare resale company. If they want you to pay a lot of money up front or refuse to release the terms of their agreement before you agree to commit is a dead giveaway that you are probably working with a scam company and it is best that you walk away before they cause any serious damage to your bank account.

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Avoiding Timeshare Sale Scams

January 5, 2012 By

Timeshare sale scams are an unfortunately common occurrence in the timeshare resale industry as the sheer amount of people trying to sell their timeshares leaves an overwhelming opportunity for fraudulent activity. So much so that the Better Business Bureau has listed them at #4 in their annual list of most common business scams. But how can you identify and avoid these frauds and successfully sell your timeshare without having to worry about getting scammed?

Thankfully, with a little due diligence, timeshare sale scams are pretty easy to spot. Some common red flags include:

Upfront Fees

This is how these frauds make their money. They promise to be able to sell timeshares fast, all they need is some money upfront for what is usually described as “listing and assessment fees” or “administrative fees”. Customers are led to believe that a portion of this money will be returned once the timeshare sells or in the event the timeshare cannot be sold. However, the company either has loopholes in their contracts that allow them to keep the money or they take it and run.

Exaggerated Claims

If the person you are speaking to sounds like a sales person, they probably are! These are not licensed real estate brokers, and they are trying to get you to give them upfront money by making claims of a “hot” resale market, and extensive list of predetermined buyers, and fast sales times. If it sounds too good to be true, it is.

Fuzzy History

Many of these timeshare sale scams want you to commit to their services (and pay them) quickly before you get the opportunity to do any outside research. If you are having trouble finding any information on the company (especially if they contacted you) or if they have many complaints against them can be indicators they are up to no good.

High-Pressure Tactics

In order to keep you from finding out about their spotty track record, these scams will often pressure you into committing to them immediately. You didn’t appreciate this when you bought your timeshare, so why is it ok now? Tell them you need some time to think about it and make comparisons. A reputable company will have no problem allowing you to compare them to other companies and will not harass you for your business.

These are just a few of the things you can keep an eye out for when you are considering working with a timeshare resale company. In order to further assist you with finding reputable and successful timeshare resale assistance, our specialists are able to review your situation and recommend the best company to suit your unique needs.

Our consultation is absolutely free and there is no pressure to accept any offers presented to you by the companies we recommend. Your satisfaction is 100% guaranteed, so the only thing you have to lose is your burdensome timeshare!

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Timeshare News – Former Timeshare Resale Firm Employees Admit Fraud

January 2, 2012 By

Jan. 2, 2012 – Thirteen employees from a now-defunct timeshare resale company have admitted to fraud in front of a federal judge to committing fraud over the past two months. The company, which was known as Timeshare Mega Media, was one of the most successful timeshare resale scams in recent years. So far, the thirteen former employees have admitted to scamming customers out of over $5 million dollars in less than a year according to the Federal Trade Commission.

In what is called a “naked fraud”, Timeshare Mega Media – which was run by two felons – took as much as $10,000 at a time from customers who believed the company was going to get rid of their timeshare by selling it to pre-existing buyers with the expectation that a portion of their money would be refunded once the timeshare was sold. However, the buyers never existed and the money was never returned.

After raiding the company’s Ft. Lauderdale office in July 2010, the FTC filed a lawsuit against the company and confessions from former staffers have continued to roll in. Fifteen people have been arrested so far, with 13 having admitted to conspiracy to commit mail and wire fraud, which can carry up to five years in prison. The 14th employee will more than likely take a plea deal and the 15th passed away a couple of months ago.

This is just one example of the importance of researching timeshare resale companies before you pay any upfront fees. Timeshare resale scams are a real threat to people who are desperately trying to get rid of their timeshares. By knowing what to look out for, doing your homework, and never paying upfront fees in excess of $100 can help you to protect yourself (and your money) from these potentially devastating frauds.

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Timeshare Transfer Companies

December 30, 2011 By

One of the biggest challenges when trying to sell a timeshare is finding timeshare transfer companies on your own that can quickly and efficiently serve your needs. While selling your timeshare on your own has proven to be very successful for many people, it is the transferring of the title and other legal aspects of timeshare resale that often hold people up and cause them much unneeded hassle and time.

Despite some of the initial skepticism that many have about using timeshare resale companies, it is by far the easiest way to sell your timeshare. If you find yourself a good, reputable, and successful company (like the ones we proudly recommend here at TimeshareSecrets.com) they will handle all aspects of your timeshare sale including the transfer process so that you don’t even have to worry about dealing with timeshare transfer companies!

In fact, the companies we recommend work with one of the best timeshare title companies in the industry, Timeshare Closing Services. This licensed, bonded, insured, and underwritten full-service title transfer agency can quickly process your paperwork and get your timeshare out of your name as quickly as possible.

Because the companies we recommend work with such a trusted title agency, you can rest assured that your timeshare will be sold safely, quickly, and with little hassle to you since these professionals handle every aspect of your timeshare resale and do so without charging upfront fees for their services.

There is absolutely no need to waste your time and energy trying to deal with timeshare transfer companies and all the red tape your developer will make you jump through in order to sell your timeshare. Rely on the helpful professionals found right here to help you become free of your timeshare fast and affordably!

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How to Sell Your Timeshare Property Fast!

December 26, 2011 By

Once you have made the decision to sell your timeshare property, you often need to do so as quickly as possible. Timeshares often become more expensive the longer you own them, so the need to unload them as quickly as possible once you make the decision to sell is imperative if you get a game plan in order to sell your timeshare as quickly as possible and protect yourself against the possibility of falling victim to a timeshare resale scam.

The fastest and easiest way to sell a timeshare property is with the assistance of a timeshare resale company. These professionals have the experience and resources necessary to reach a variety of different kinds of timeshare buyers as well as more efficiently navigate the often complicated timeshare secondary market to sell timeshares more quickly than someone trying to do so on their own.

However, it is important to note that timeshare resale scams are some of the most common business scams out there. They ranked #4 on the Better Business Bureau’s annual list of top consumer scams, so taking necessary precautions to avoid these frauds is essential. Ask a lot of questions, check references, and look for companies that do not charge upfront fees in order to protect you from these schemes.

If you need help trying to sell your timeshare property or want more information on how to avoid timeshare resale scams, we are here to help! We have been in your shoes and have dedicated ourselves to sharing our timeshare knowledge with other owners out there. We proudly recommend a variety of A+ rated timeshare resale companies to assist you in any way they can without charging upfront fees. Our consultation is free and your satisfaction is 100% guaranteed, so there is nothing to lose except the worries associated with your timeshare!

Our timeshare resale specialists are waiting to evaluate your situation and recommend the best options for getting rid of your timeshare to meet your individual needs. Timeshare freedom is just a click away!

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Cost of Timeshare Maintenance Fees

December 26, 2011 By

The number one complaint that timeshare owners have about their properties is the cost of timeshare maintenance fees. It is also the number one reason that people eventually decide to try and get rid of their timeshare, since these fees often tend to go up and rarely will go back down once they do.

Maintenance fees are exactly what they sound like – money that is used to maintain a timeshare property. They can be used for routine maintenance, landscaping, pest control, utilities, and other everyday costs of running a timeshare. They also sometimes include special assessments, which are tacked on to maintenance fees to update facilities and amenities and for repairs not covered by insurance. Developers usually assess and announce these fees at the end of each year and divide them among all owners of the property.

While they are a necessary part of timeshare ownership, the cost of timeshare maintenance fees are what tend to cause people to get angry because they are often a guess of what things will cost for the next year and often tend to go up each year. Maintenance fees vary depending on the type of timeshare you own and how many weeks you have purchased, and can be as little as $100 or as much as several thousand. Since these are rarely covered in detail during timeshare sales presentations, new owners are often surprised when they receive their first bill. Failing to pay timeshare maintenance fees can result in timeshare foreclosure and serious damage to your credit, which is why many people often choose to get rid of their timeshare before they get in over their head.

If the cost of timeshare maintenance fees has gotten to be more than you can handle, or you can no longer warrant paying these fees for a property you rarely get to use, we can help. The timeshare resale companies we proudly recommend have been helping timeshare owners just like you get out of their timeshares for several years. These highly rated and reputable professionals can assess your timeshare and recommend the best way to sell your timeshare quickly in order to avoid having to pay any future fees or assessments on your property, and they do so without charging any upfront fees. This means that you don’t owe them a dime until you no longer have possession of your timeshare and your satisfaction is 100% guaranteed!

Our consultation is absolutely free, so you have nothing to lose when you contact one of our experience timeshare resale specialists. They will review your situation and recommend the best timeshare company to suit your unique needs. The road to timeshare freedom is only a click away!

 

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Los Cabos Timeshare Resale

December 26, 2011 By

One of the premier timeshare vacation destinations in Mexico is Los Cabos. This area on the most southern point of Baja California includes Cabo San Lucas, San Jose del Cabo, Las Palmas, and the area known as the Resort Corridor. This area boasts exceptional golf, fishing, dining, nightlife, and year-round warm weather. It’s no wonder so many people purchase timeshares in this area, however, this also means that Los Cabos timeshare resale are some of the most common on the secondary market.

Timeshares are a great way for families to spend time together in exciting locations like Los Cabos, however they also provide a burden to many families. Interest on mortgages, annual maintenance fees, special assessments, and rising travel costs to exotic locations often make owning timeshares, especially those located outside the Unites States, more expensive than taking a normal vacation to the same location after a few years. Because of this, Los Cabos timeshare resale, as well as the resale of timeshares just about everywhere else, has increased in recent years. As people cut unnecessary spending from family budgets timeshares are often the first to go.

If you are one of the many Los Cabos timeshare owners who are trying to get rid of your timeshare to make some more room in your budget you have found the right place. We know first hand how complicated, frustrating, and potentially damaging timeshare resale can be. We have already made the mistakes you don’t have to, and we happily share that information with you right here at TimeshareSecrets.com.

We proudly recommend a variety of timeshare professionals who can help you get rid of your timeshare quickly and safely. Each company we recommend boasts an A+ rating with the Better Business Bureau and never charge upfront fees for their services, so there is no risk of a timeshare resale scam and your satisfaction is 100% guaranteed.

Los Cabos timeshare resale has never been easier. Our free consultation with one of our expert timeshare resale specialists will help start you on your path to timeshare freedom quickly and with zero hassle!

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