More News on Timeshare Scams

Department of Agriculture and Consumer Services’ investigators recently raided an Ormond Beach-based timeshare sales office. The said investigators issued a search warrant to Buy Owner Resort Marketing. According to the agency’s spokesperson, Liz Compton, the investigation details are not yet available as of this time since it is still ongoing.

It was in March 2010 that the regulators told the said company to stop its telemarketing arm for the reason that it is not registered. But the said reason is not yet confirmed whether it is related to the warrant issued to them.

The above incident is just one of the consequences of many timeshare resale companies who have been doing unsound business practices.

Their hard selling tactics include calling up the timeshare owners and present to them the enticing offers. The usual circumstance at the end of the conversation is to ask for mailing payments through credit card. Desperate timeshare owners then grab the opportunity thinking that this is a one shot blessing to finally get away from the hassles of owning a timeshare. In effect, it did even create a financial disaster on them since a huge amount of money was busted by some merciless outsiders.

The truth of the matter is buyers and sellers are having a hard time looking for that legitimate timeshare resale company that will give the optimum results. With the ongoing influx of timeshare resale companies it is hard to choose which ones are just right for them.

There are so many things that a consumer has to be aware of when reselling timeshares. But let me give you some tips.

One, you have to be knowledgeable of what you are selling. Research is important for you to get the most out of your timeshare. Awareness on the total value of your timeshare will let you resell it much faster and easier though there are no guarantees of these. But at least you don’t wave out those potential buyers. The price of a resale unit usually falls between 30%-50% of its original price.

Real timeshare resale companies do not ask for initial charges. Most scammers reason out that these fees are intended for the advertising costs and/or mailing payments when in fact they are not.

To further validate whether the resale company is good or not, inquire at the Better Business Bureau. They have an online site where you can access and immediately determine whether a company is good or not.

Be smart enough to transfer that timeshare of yours.