Time sharing vacation units is now a $9.6 billion industry. Cookies containing your personal data may be used for personalized and non-personalized advertising to you. Additionally, calling your developer is a great way to see if they have any in-house options or recommendations for legitimate timeshare resale companies. Theres also a map on the home page that shows locations of timeshares in every continent except Antarctica. We recommend their assistance to timeshare resellers who want as little as possible to do with the process of finding a buyer and settling on a sale price. And as various timeshare resale companies under investigation are being fined and even prosecuted, many others are seeking to re-invent themselves under the guise of timeshare exit companies or even timeshare relief consultants. The cookie is used to store the user consent for the cookies in the category "Other. We found the representative extremely helpful and professional. These cookies ensure basic functionalities and security features of the website, anonymously. There are many factors that will influence the resale of your timeshare including location, resort quality, flexibility of usage, season, demand and, of course, price. Its essential to be cautious of any company or individual that offers to help you reduce or eliminate your maintenance fees, especially if they ask for an upfront fee. All consumers need to be cautious of third-party exit companies with offers that seem too good to be true. Timeshare resale companies will make you believe that your timeshare has value, and all you need to do is pay them an up-front "listing" or "advertising" fee to sell the timeshare. This cookie is set by GDPR Cookie Consent plugin. For example, Wyndham offers Wyndham Cares for owners looking to exit their timeshare. If you took a loan to buy the property and you still have a balance, stopping payment will have an impact on your credit. In recent years, fraudulent exit companies have flooded the timeshare scene, with numerous companies promising to help owners exit their property. - Ask about fees and timing. Notice: The accessibility features listed here are not intended to be an exhaustive or comprehensive list of all accessible features of the facility, rooms and/ or amenities for this specific Resort. "We would have never purchased this had we known how much it would really cost.". Timeshare companies are under severe pressure from angry consumers. As such, licensed agents can provide a fast way to sell depending on what you own. These scams typically involve individuals alleging to be representatives of a brokerage firm, travel agency, title company, or escrow agent making unsolicited contact with owners of timeshare properties. *In Canada, trademark(s) of the International Association of Better Business Bureaus, used under License. When youve found a buyer, we can even connect you with a trusted closing company to help complete the legal paperwork in order to finalize your sale. Timeshares and vacation clubs are often synonymous with high-pressure sales. AddThis sets this cookie to track page visits, sources of traffic and share counts. Now, If this buyers waiting scheme sounds similar to a timeshare resale scam, thats because it is. In November 2020, Judge Mendez sentenced co-defendant Wayne Arthur York II to five months time served, two years of supervised release, and to pay $449,980 in restitution to the victims of the scheme. But opting out of some of these cookies may have an effect on your browsing experience. Whether youre looking to buy a new timeshare or sell your timeshare outright, here are a few organizations that will allow you to do so with ease. This website uses cookies to improve your experience while you navigate through the website. According to the investigation, no timeshares were actually sold through this scheme, and more than 350 victims have been identified with losses totaling more than $753,000. Over the past few years the number of so-called timeshare resale companies under investigation has exploded as numerous state governments and the FTC have taken notice of these new timeshare resale scams proliferating in the marketplace. For example, a scammer may tell a timeshare owner that their maintenance fees have increased and that they are required to pay a large sum to avoid defaulting on their timeshare. If you need timeshare exit solutions, look no furtherlearn more about selling your timeshare and get started today. According to the American Resort Development Association (ARDA), the $9.6 billion U.S. timeshare industry boasts over 1,570 resorts and 205,100 units. Regional consumer protection is a shared responsibility between many agencies, including state and federal regulators. We legally assist consumers in terminating timeshare contracts. The announcement was made today by John Parker, Acting . Instead, the company takes the money and runs, leaving the timeshare owner with a worthless contract and no recourse. Sending a contact form message through this website does not create an attorney-client relationship with Finn Law Group. It does not store any personal data. Based on alleged company misrepresentations during these solicitation calls, victims would agree to pay a portfolio fee in various amounts, typically ranging between $2,000 and $3,000. Using various lead lists, the con artists apparently chose to target seniors across the nation, preying on victims over the age of 79 on average. I really couldn't be happier with this decision!". We researched the best companies from which to buy and sell timeshares based on fees, reputation and services. To avoid being scammed, its essential to do your research and choose a reputable timeshare exit company. If youre getting unsolicited contact via calls about your timeshare, you are likely being targeted by a timeshare resale company. Does your timeshare belong to a specific brand or vacation membership organization? Timeshare Defense Attorneys explain the basics of a timeshare contract dispute and how a Las Vegas timeshare attorney can help. The Better Business Bureau can provide information if you need clarification on whether a company is legitimate. Contact Information. In other cases, fraudsters file fraudulent documents with state or local officials and even register with their local Better Business Bureau using the false names from their fraudulent documents. Feel free to contact us for a free consultation and to speak with an attorney. If you like the thrill of discovering new locales, you may get bored revisiting the same place year after year. The timeshare industry has its roots in the 1970s when some hotel chains were seeking ways to make use of vacancies. In 2014, the Florida Department of Business and Professional Regulation issued a cease and desist order to Scott after determining that he was brokering properties under a different business name and without a license. Buying from an individual owner versus a property developer or resort often leads to a better price, as you can avoid some fees. SACRAMENTO, Calif. Juan Carlos Montalbo, 59, of San Antonio, Texas, was sentenced today to two years in prison for a conspiracy to commit wire fraud in connection with a timeshare fraud in Mexico, U.S. Attorney Phillip A. Talbert announced. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. Some resale scams have bilked timeshare owners for thousands of dollars. More than nine million households now. 1. In a 2016 lawsuit, Scott again settled with the Florida Attorney Generals Office. Contact ustoday for more information regarding our services and how we can help you with your case! As you can tell, the timeshare industry is its own unique ecosystem. Starwood recommended that I go to SellMyTimeshareNOW. 2 Given this volume of sales and the substantial expense of timeshares . Trust your instincts: if a timeshare solicitor makes you uncomfortable or tells you something that does not sound right, do not continue communicating with them. As a condition of the new settlement, he agreed to pay $76,000 in restitution to consumers who were deceived by defendants in connection with the advertisement of the resale or rental of land. And unlike general auction sites like Ebay, we focus on one thing: selling timeshares. Many owners pay thousands of dollars to fraudulent timeshare resale companies. In truth, no buyers had actually been arranged. Have a question about Government Services? Talk about options! 2. Timeshare fraud is a growing problem in the industry, with many people falling victim to fraudulent timeshare resale companies. Owners post their timeshares for sale here, and connect directly with travelers looking to buy. A lock ( As part of the conditions of that settlement, the defendant agreed to stop engaging in unfair and deceptive trade practices. We will contact you as needed to complete your request. Diamond Resorts. ", "We contracted with SellMyTimeshareNOW in DecemberSellMyTimeshareNOW was very honest with us regarding what we could realistically expect to receive in terms of selling price, and we successfully sold our unit in Maywe are grateful to SMTN for their efforts on our behalf. The technical storage or access that is used exclusively for anonymous statistical purposes. The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network. All Rights Reserved. One of the leading companies is currently under investigation by the Washington State Attorney Generals office. There are buyers on our site right now searching for timeshares just like yours. We are NOT partnered with any third-party resale companies so remember that anyone from another company claiming to represent us, is NOT telling the truth. Consumers should continue to be cautious whenever they are solicited by telephone from individuals seeking payment for any services, said Doug Templeton, chief investigator for Pinellas County Consumer Protection in relation to land and real estate sales. While it may seem like a daunting task, we strive to make the resale process as simple as can be by storing all your documents and correspondence in one convenient location. YouTube sets this cookie to store the video preferences of the user using embedded YouTube video. We were told we could easily travel anywhere. The Resort Owners' Coalition, a program of industry group the American Resort Development Association, has an online resource center for time-share resales with step-by-step advice for consumers. 95814, Telephone:(916) 554-2700 Another thing I commented on in 2012 was that Premium Timeshare Exchange was an advertising company. You can report timeshare resale scams to the Federal Bureau of Investigation and Federal Trade Commission as follows: Federal Bureau of Investigation Minneapolis Office 1501 Freeway Boulevard Brooklyn Center, MN 55430 (763) 569-8000 www.fbi.gov. Without the right knowledge and resources, it can be hard to know who to . In either case, you the timeshare reseller will receive the same amount for the sale of your timeshare. Fax Line:(916) 554-2900. 1) Directive 2008/122/EC on the protection of consumer in respect of certain aspects of timeshare, long-term holiday product, resale and exchange contracts was adopted by the EU in January 2009 . The __gads cookie, set by Google, is stored under DoubleClick domain and tracks the number of times users see an advert, measures the success of the campaign and calculates its revenue. If you suspect youve been scammed, file a complaint with your state attorney generals office and the IC3. Many timeshare resale scams operate the same way. In one version of the scam, you get a call and a recorded message that says it's Amazon. (954) 563-2444. SellMyTimeshareNow has more than 75,000 timeshare rentals and resales in their database and boasts partnerships with brands such as Marriott, Hilton, Disney and Wyndham. Bluegreen Corporation offers timeshare vacation resorts throughout America, Aruba and the Bahamas. There are so many resale companies out there, as well as lawyers or businesses that they will cancel your ownership. The allegations in the indictment stem from the operation of a telemarketing fraud scheme that targeted persons over the age of 55. Final Defendant Sentenced for Mexican Timeshare Resale Fraud Scheme Press Release. We would certainly use their services again. If youre considering working with a timeshare resale company, its essential to research and ensure that the company is legitimate. With over 18 years in business and 2.6 million registered users, we have facilitated thousands of rental and sale transactions. Hassle-Free Closing Process - Expert assistance to finalize your timeshare sale. Please carefully review our, 8380 Bay Pines Blvd. Some timeshare-related businesses, however, treat consumers ethically, resulting in positive experiences for buyers and owners. IC3 has identified some instances where people involved with the recovery company have a connection to the resale company, raising the possibility that victims were being scammed twice by the same people. For additional info regarding The Legacy Program, please call 800-351-0461, Monday through Friday from 9 a.m. to 5 p.m. Eastern Time. You can contact the SECs Office of Investor Education and Advocacy (OIEA) by phone at 1-800-732-0330, using this online form, or via email atHelp@SEC.gov. Do Not Sell or Share My Personal Information. . He was given the runaround when he attempted to get his money back. Scammers count on your lack of knowledge, so take the time to educate yourself about any offer you receive. . With the sun out and their guard down, vacationers can quickly find themselves on the hook for a life-long commitment. If the issue meets a clear and convincing standard and is considered an unfair and deceptive practice, the department may be able to help a consumer directly resolve a resale complaint. - Ask if the resellers agents are licensed to sell real estate where your timeshare is located (verify this with the states real estate commission), and get references. By using this website, you agree to our Terms of Use. Whether youve been contacted by a dubious timeshare resale company, or youre simply looking for answers and options to best utilize your vacation ownership investment, the Westgate Legacy Program is here to help. With more than 4,000 resort choices in 1,300 destinations, it's one of the most popular timeshare services out there. These fraudsters can be persistent. The fee for this service is usually around US $25. timeshare on the resale market. Fraudulent timeshare schemes are becoming a very real problemespecially in these economically challenging times as more timeshare owners decide they can no longer afford them. Sell My Timeshare NOW recommends a licensed and bonded title company like Timeshare Closing Services. The AG also permanently banned Scott from engaging in any Florida business related to land and timeshare sales. Many victims provided credit card numbers to cover the fees. In today's world, timeshare scams are getting harder to catch. MORE FROM THE FRAUD WATCH NETWORK AARP Fraud Watch Network CPU investigators used a number of techniques to compile evidence against the suspicious real estate companies and their connections to one another, including tracing the victims payments, analyzing phone and bank records and conducting a business search for common office space leased by the companies. Sacramento, CA. This is where a licensed agent can really help, since the only way a timeshare resale can be legally priced in states such as Florida is either by the owner or a licensed agent. This cookie can only be read from the domain they are set on and will not track any data while browsing through other sites. As a trusted member of The American Resort Development Association (ARDA), the company is backed by top developers and has an A+ rating with the Better Business Bureau. Instead of purchasing an entire property outright, timeshares allow you to own a certain amount of time per year in one condo or apartment (typically a week or more). Google DoubleClick IDE cookies are used to store information about how the user uses the website to present them with relevant ads and according to the user profile. In Business Since 2003 - Work with one of the industry's oldest and most trusted timeshare resale companies. Assistant U.S. Attorney Matthew G. Morris prosecuted the case. The Timeshare Attorney has the experience and knowledge necessary to help you get what you deserve. For additional info regarding The Legacy Program, please call 800-351-0461, Monday through Friday from 9 a.m. to 5 p.m. Eastern Time. Yes! To sell a timeshare, contact the resort directly and see if they have a resale or buyback program. Now 205 shares were deposited totaling $379, 250, plus my activation amounts which totaled $397, 850. Most commonly, consumers said they felt reality didn't match the big promises made in timeshare pitch meetings. As part of your subscription, we will create a full-page advertisement for your timeshare. Timeshare maintenance fees are ongoing fees that cover the operating costs of their timeshare property, such as maintenance, repairs, utilities, and other expenses. However, many of these companies lure owners with false advertisements using their fraudulent real estate services. In this scam, a company contacts timeshare owners and claims to be a network of timeshare resale companies that can help them sell their property quickly and easily. Beware of Fraudsters Last October, after a joint FBI-Ft. Lauderdale Police Department investigation, 13 individuals from a Florida timeshare resale company were charged in federal court in. The vast majority of timeshare exit companies that claim they can get you out of your timeshare are scammers. During the entire process the staff was available to take our calls and address our concerns every step of the way. White-collar crimes are among the most difficult kinds of cases to investigate in the consumer protection sector, especially when it involves a million dollars scam. It is not a rule, regulation, or statement of the Securities and Exchange Commission (Commission). Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Timeshare scams are a growing concern in the industry. It is not legal or other professional advice and does not necessarily represent the opinion of Finn Law Group or its clients. It is important to verify the identity of the person who contacts you by independently searching for the persons or firms website and checking that the contact information listed there is consistent with the contact information the person provided you. - Ask the salesperson for all information in writing. This cookie is set by GDPR Cookie Consent plugin. For example, they may use technology to make it appear that they are calling from a different location and use a fake address or a mail drop as their business address. Final Defendant Sentenced for Mexican Timeshare Resale Fraud Scheme . In a first of its kind investigation, the Better Business Bureau (BBB) discovered 10 timeshare exit companies in Missouri scamming . By continuing your browsing, you agree to the use of cookies. Colorado, Consumer Protection Division, Office of the Attorney General Vacation Smart International Referral to the Connecticut Office of the Attorney General ("OAG") for purposes of enforcing a subpoena under CGS 42-110k. Look for a reputable company, prioritize a money-back guarantee and a clear and transparent process for getting out of your timeshare contract. More than 1,100 BBB Scam Tracker reports reveal fraudsters have used the same high-pressure tactics common in timeshare sales to con consumers out of $3.5 million in the last three years. We work with owners from all different brands and ownership clubs to create a highly-visible resale advertisement for their timeshare to post within our online marketplace, giving your timeshare the exposure it needs to get sold. Many clients ask whetherowning a timeshare puts you at risk. While maintenance fees are a legitimate cost associated with owning a timeshare, they can also be used as a tool in timeshare scams. No, your timeshare property was not "appraised" when you purchased it, and it does not need to be appraised to be resold. . ", "When I decided to sell my timeshare, I had no idea about how to go about doing this and of course who to trust. Join our coalition of 1.6 million-plus timeshare owners across the country. In March of 2013, Bondi's office sued multiple Florida timeshare resale companies for unfair and deceptive trade practices. If you receive a phone call, an e-mail, mail or other communication regarding your timeshare, keep in mind the following tips and warnings: More information about advance-fee schemes and other online frauds can be found at www.fbi.gov or Investor.gov, the SECs website for individual investors. If they do not, you can sell your timeshare privately, or through a resale company. Tags Companies Sales Ownership timeshare scams resale scam companies Timeshare Rental Company Timeshare Resale Martket. Please select a check-in and check-out date, Westgate Smoky Mountain Resort & Water Park, River Terrace Resort and Convention Center. Timeshare fraudsters are individuals or companies who engage in fraudulent activities in the timeshare industry. Share sensitive information only on official, secure websites. Timeshare Scams There is a lot of misinformation and confusion about the timeshare resale market and exit process due to increasing fraud by marketing firms soliciting owners and consumers with false advertisements to help end their timeshare contracts. If someone offers you investment products or services, such as offering to act as a. Be careful if someone claims they have been provided with a special permit from the SEC there is no such thing. . Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you. AddThis sets this cookie to ensure that the updated count is seen when one shares a page and returns to it, before the share count cache is updated. Let Timeshare Defense Attorneys help you avoid scams. Many of these companies are under attorney general investigation for allegedly deceiving owners, . AddThis sets this geolocation cookie to help understand the location of users who share the information. I was told by both Basri and David that Vidanta on 20 Sept. was holding the transfer up due to delinquent "Assessment fees" amounting to 13 years at $850 totaling $20, 050 which was required . The companies had "virtual" offices in Tampa, Fla. and representatives would claim to have a buyer interested in purchasing an owner's timeshare unit. Timeshare Resort in Mexico (Photo: Kirt Edblom via Flickr/ CC BY-SA 2.0). In March 2020, Judge Mendez sentenced co-defendant Marco Antonio Ramirez Zuno to two years time served and to pay $1,108,375 in restitution to the victims of the scheme. Seeing a gap in the market, the company invested heavily in digital marketing and technology (such as immediate online booking for potential renters), which attracted a new generation of buyers used to finding deals online without having to sit through a resort sales presentation. If so, SellMyTimeshareNow.com can help you sell your brand-affiliated timeshare in a quick and efficient manner. This ABC News Video explains it all in great detail. The technical storage or access that is used exclusively for statistical purposes. Updated . Another 30 companies are currently under state investigation. Cutting out the developer usually means the timeshare resale can have a price tag remarkably lower than many people would expect. "During the high-pressure sales presentation, we were told amazing things about what this timeshare ownership would be. Our live offer feed shows recent purchase offers delivered to timeshare owners just like you. Unfortunately, these scams often take advantage of many timeshare owners who seek to rid themselves of their contracts and sell their properties. AARP TIP 2: Use the Resale Market. Keep paying your maintenance fees even if the exit company advises you not to you will be liable and could even face foreclosure. Home | How It Works | Our Team | FAQs | Reviews | Contact | Blog, Timeshare Defense Attorneys 2021 All Rights Reserved Privacy Policy Terms of Use. This cookie is set by GDPR Cookie Consent plugin. Need Help With Your Ownership? Since timeshares rarely appreciate in value, timeshare resales are often listed for a fraction of the retail price. Advertise where the . BBB urges timeshare-related industries to self-regulate by establishing and following ethical sales practices. Each owner was then promised refunds on the portfolio fees upon close of sale, minus small administrative fees.. Tuesday, February 15, 2022 . Newton Group calls itself the longest standing timeshare exit company in the U.S. They've been in business for over 15 years. We want you to be aware of a growing number of timeshare exit companies that are inundating owners with direct mailings, telemarketing, and seminar invitations. The second form of advice the travel platform so graciously offers is the concept of resale. Fake Timeshare Employees. A timeshare is not a traditional piece of real estate, thus brokerage is optional. And, while they're easy to get intothese contracts are incredibly difficult to escape, according to a. Facebook sets this cookie to show relevant advertisements to users by tracking user behaviour across the web, on sites that have Facebook pixel or Facebook social plugin. SellMyTimeshareNOW did all the work and guided me through the whole process. YSC cookie is set by Youtube and is used to track the views of embedded videos on Youtube pages. According to court documents, Montalbo, while working in the timeshare industry in Puerto Vallarta, Mexico, would tell timeshare owners that he could guarantee the sale of their existing timeshare vacation rentals, often to pay for other timeshare products Montalbo was attempting to sell them.