Warnings From Vacation Trader

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Vacation Trader Warns You To Be Wary Of Scams

SCAM ALERT!! BUYER BEWARE!! WARNING!!

Read this page carefully unless you want to get scammed trying to sell or rent your timeshare. If you don't read this you will get scammed! Chances are you have already been scammed trying to sell or rent your timeshare and the guy in the picture below probably looks familiar. If you feel frustrated about trying to sell your timeshare after being let down a few times with bogus guarantees and false hopes then you especially need to read the uncovered scams below. You can report timeshare resale fraud by clicking here.

First off we do not condone illegal activity nor do we expect those reading this to perform any illegal activities. The following information was compiled solely to help consumers make informed choices of who they do business with.

There are literally hundreds of timeshare scams circulating today. BUYER BEWARE!! One of the ways we’re helping consumers is to alert them of some of the common scams being used today in the timeshare industry. Another is to assist scam victims in getting their money back. Here are a few of the main scams associated with internet listing companies and the tricks used to snare potential owners looking to sell or rent. Read through this list and make yourself aware before you fall victim to one of these scams.

1. No legitimate company will ever call you, asking you if you want to sell or rent your timeshare for and require an upfront service fee.

2. No legitimate company will charge you under $1,000 to help you sell your timeshare. The reason why so many companies charge $500 or so is because anything less than $1,000 is a gross misdemeanor if they don't do what they say they will do. Once they go over the misdemeanor threshold, they are committing multiple felonies: wire fraud for charging you over the phone, credit card or check fraud, mail fraud for sending you a contract through the mail, obtaining money under false pretenses, deceptive trade practices, and or defrauding the elderly if you are over the age of 62. In their eyes it is much better to leave the felonies alone and go for the misdemeanor as they cannot be prosecuted across state lines.

3. If anyone tells you that their "buyers" don't need financing or they don't mention financing it is probably a scam. Also watch out for the "Over Value Scam". Do you really think a finance company is going to go on the hook for a $20,000 loan when a property is only worth $10,000 directly through the resort?

4. The Infamous Buyer Waiting Scam - Do not, under any circumstances, ever let a sales representative tell you they have a buyer waiting for your timeshare. Unless you have the ONLY timeshare for sale at a given resort, why would your unit be the one this buyer is looking for? This scam is easy to catch. Go to the companies website and find a similar unit. Why weren't they interested in the ones they already had.

5. The Crystal Ball Scam - No one can tell you when a timeshare is going to sell! Unless they are in possession of the proverbial "crystal ball" how in the world can they tell you when a piece of vacation property will sell for sure?

6. I’m a Broker or Real Estate Agent Scam- Many times they are not brokers or real estate agents. More probable is the fact that they are scammers sitting in a smoke filled boiler room. Don't let them fool you into thinking they are real estate agents. Ask for a copy of their real estate license. Real estate agents would rather make a bigger commission on the bigger sale of a home rather than a smaller commission on the smaller sale of a timeshare. Why would they bother? Do not let them tell you that they will physically show your property or that they make a commission on the back end from you or the buyer. Do you think the resorts will allow an outsider onto their property and give them full access to the rooms and amenities where they can show them to potential buyers to undercut the resort who would get nothing? The answer is NO! The truth is that most resorts hate resale companies. Why would they like their competition. Do you think Coke likes Pepsi? Probably not. Real estate agents work on commission. By law they cannot charge you a commission on the sale unless they are licensed real estate agents or brokers. Again, ask for copies of their licenses and check for authenticity.

7. Over Valued Scam - With this scam, a sales representative will tell you your timeshare is worth twice more than you paid for it in hopes of getting you to sign up to sell your property with them. Timeshare is not real estate. If you paid 10K for it 15 years ago, you’d be lucky to get 14K for it now in most cases. Don't get caught being greedy! In fact the less money you want for your property, the easier and quicker it would be for you to sell or rent.

8. Unregulated Fee Scam - This practice is deceitful and gives the time share industry a bad name. Most internet listing companies allow their sales force to charge as much for an advertisement as they can get from their prospective customer by feeling you out. This type of unregulated pricing allows two people with the same advertising to pay different fees. If they ask you what you do for a living tell them you are poor and you need a discount even if you’re not. Check that fees are posted. Real companies should have their prices displayed for all to see. This way Dr. Howard pays the same price for his advertising and marketing as Mr. Jones the convenient store clerk pays for his. Non-Standardized pricing is wrong!

9. Multiple Websites Scam - Some companies will utilize many different websites, all with similar names, in order to snare you either coming or going. If you find a company using more than one website steer away fast. It's just another internet listing company’s scammer trying to relieve you of your hard earned money. When one site fills up with inventory and the scammers can no longer use it to convince you they have an inventory shortage they start putting listings on other sites so you don’t see they already have 400 other identical properties on their site.

10. Lifetime Rental Scam - Many internet listing companies will tell their potential customers that for a few hundred dollars, they will enroll them in their lifetime rental program. This one just doesn't pass the "sniff" test. Does it really sound feasible that for a few hundred dollars your property will get rented year after year for as long as you own it? Come on now. Be smarter than that.

Keep checking back for new and completely different timeshare scams uncovered. We post these scams here to inform the consumer and help ensure a level playing field. Unfortunately, for legal purposes, we can't make reference either written or implied as to the perpetrator(s) of these scams. Keeping on top of the game is how we stay #1 and help you stay protected.

Nearly all owners fall victim the first time they try to sell a timeshare. The reason for this is simple, they fell prey to an internet listing company without checking them out first. NEVER EVER attempt to sell your timeshare with a company you haven’t or can’t check out. Don't be another fish for the big shark.