Countless amounts of timeshare owners sign up with timeshare resale companies with the hopes that one of these companies will sell their timeshare for a profit, this is rarely true. Resale scam companies realize how difficult and daunting getting rid of timeshare can be and they actively search for consumers to take advantage of. Resale scam companies come in many different shapes and sizes and after reading this article you will have a better understanding as to why they should be avoided at all costs.
The company promising that your property has value and will sell.
When looking for a company to sell your timeshare you will most likely come across a few that will assure you that your timeshare has a lot of “value” in the market. From the moment a timeshare is purchased, it instantly loses value and becomes extremely difficult to sell. Chances are if you pay one of these companies to sell your timeshare it will be never be sold and will remain listed on a resale website for years.
The company with no legal paperwork.
This type of company can be found all over the resale industry. Once this company provides their resale “service” they will verbally tell you that you are timeshare free. This promise is nothing more than empty words through a phone. Some companies will even go as far as to tell you that you are not allowed to contact the resort that you had the property with. A rule of thumb when working with a resale or exit company is to make sure you are signing a legally binding contract and not just relying on their word.
The New Company with no online presence.
Once a scam company has been exposed for who they are, they will often abandon the website they were exposed on and create a fresh domain to continue operations. Before working or signing up with any website you should do some thorough research into exactly who they are and where they are located. A website like the Better Business Bureau serves as great resource for checking the reputation of a company.It is also important to note that not all new website should automatically be labeled as a scam but it is a common trait that you should definitely look out for. I understand that having high maintenance fees can be a real nightmare but you should always do a bit of research before committing to hand over a large amount of money to any company.
Through my experiences researching timeshare resale companies I can tell you that they are not the ideal way to rid yourself of a timeshare burden because of the risk involved. The best and safest way to get rid of a timeshare is to either cancel the contract or permanently transfer ownership.