Nowadays with the difficult economic conditions, most people are looking for ways to reduce their debt or gain some extra spending money and getting out of a timeshare is one way for the property owners to gain a better financial position. While this is such a need for many people, this has also spawned new schemes of frauds and cheats people out of their money.
Recently, J. Bernas, president and CEO of the Better Business Bureau serving Chicago and Northern Illinois, said that there are complaints being filed across the country about callers, who say that they are in the timeshare resale business, and who have been misrepresenting sales potential as well as making promises that are not being kept. He added that this is a variation of the well-recognized scam that convinces people to send money on a promise of receiving something in return.
Meanwhile, Bernas warned potential customers of timeshare resale businesses to have a clear understanding of all terms and conditions of the company’s contract before signing. If the business offers a listing service, then, find out where the company’s ads will appear and determine what criteria the company uses when matching potential buyers and sellers of timeshare properties.
With today’s various scams in the timeshare industry that operate in various ways, many owners still fall into such trap. That’s why some owners hire a reputable timeshare transfer company such as the Transfer Smart to successfully get rid of such property. On the other hand, Bernas warned the owners to be wary of any high-pressure, too-good-to-be-true claims that the timeshare resale market is hot or that a buyer is already lined up and better check out the existence of the company with the BBB.