We thank the Falmouth Police Department for drawing our attention to an ongoing timeshare re-sale scam...
If you’re thinking about selling your timeshare through a resale company, research the company first. Read about this recent FTC case against Pro Timeshare Resales, and you’ll know why.
Timeshare Resales is a Florida-based company that called people – many of whom were older adults – and promised to sell their timeshare properties. The company often said it had a buyer in mind and that the sale would occur quickly. Once the timeshare owner agreed, the company would charge an up-front fee, usually of $500 to $2,500.
But, according to the FTC, the company did not sell the property quickly – or even at all. Often, it would ask for additional fees and refuse to grant refunds.
As result of its FTC settlement, Pro Timeshare Resales is now banned from timeshare resale services and telemarketing. It’s not allowed to make misrepresentations or collect any more payments for their timeshare services. Plus, it agreed to surrender more than $3 million.
How can you avoid timeshare resale scams? Here are some things to keep in mind: