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| Sat, May 10 2025, 12:43:19 | [ Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1, 2, 3, 4, 5, 6, 7, 8, 9, [10] ] |
| Subject: Beware of the timeshare resell scam!!! | |
Author: ccn666 | [ Next Thread |
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] Date Posted: Fri, Nov 21 2003, 17:55:57 Please take some time to read this article by the Consumer Protection Section of North Carolina Department of Justice in USA. Very important note to remember: IF THE TIMESHARE RESALE COMPANY IS GENUINE IN HELPING YOU TO SELL OFF YOUR TIMESHARE MEMBERSHIP, IT SHOULD ONLY CHARGE YOU A FEE AFTER IT HAS SUCCESSFULLY SOLD IT OFF FOR YOU, NOT BEFORE. BE VERY VERY CAREFUL OF COMPANIES THAT CHARGE YOU A LOT OF MONEY FOR SERVICES AND LATER KEEP TELLING YOU THAT THE TIMESHARE RESELL MARKET IS VERY WEAK AND THERE'S NOTHING MUCH THAT THEY CAN DO ABOUT IT. http://www.jus.state.nc.us/cp/timeshr.htm Timeshare Resales ------------------- If you own a vacation timeshare, be cautious about people offering to re-sell it for a fee. Most of these sales programs are bogus. The market for resales is poor. One recent survey found that only 3.3 percent of owners reported reselling their timeshares during the last 20 years. The Scam ---------- Unscrupulous companies may contact you by phone or mail. Salespeople are likely to tell you that the market for resales is "HOT". For an advance "listing" fee, often $300 to $500, they will promise to sell your timeshare for a price equal to or greater than your purchase price. They may offer a money-back guarantee or a $1,000 government bond if they fail to sell it within a year. Others may offer to purchase the timeshare for 80-90 percent of its appraised value if they fail to sell it. In reality, it is very difficult to resell a timeshare. If a company promises to do so, it is likely to just take your money and give you nothing in return. If You Want to Sell --------------------- If you are approached by a company offering to help re-sell your timeshare, consider taking these precautions: - Don't agree to anything over the phone until you've had a chance to check out a company. Ask the salesperson to send you written materials. - Find out where the company is located and where it does business. Contact the Better Business Bureau, Attorney General or consumer protection offices in that area to see if there are any complaints against the company. - Ask if the company's salespeople are licensed to sell real estate where your timeshare is located. Verify this with the state licensing board. - Be wary of companies charging an advance fee for services. Look for a company that offers to sell for a fee only after the timeshare is sold. North Carolina Department of Justice Consumer Protection Section P.O. Box 629 Raleigh, NC 27602-0629 Telephone: (919) 716-6000 Fax: (919) 716-6050 E-mail: agjus@mail.jus.state.nc.us [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| [> Subject: Re: Beware of the timeshare resell scam!!! | |
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Author: Din [ Edit | View ] |
Date Posted: Sat, Nov 22 2003, 23:25:37 whenever i call IRN bout resale, they always discourage it.I wonder why.now i know, cos its almost impossible to do so.thanks for the info.a lot of hassles willbe saved. [ Post a Reply to This Message ] |