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. 2021 Finn Law Group | Contact: 855-579- 0925 | Powered by: Acute SEO, Finn Law Group maintains this website exclusively for informational purposes. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. 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 . Investigators performed extensive interviews with over 100 victims and former employees of Scotts companies to help unwind his multi-state sales scheme. According to the affidavit reported by WFLA.com, the three suspects would contact homeowners or others who owned property claiming to have buyers waiting to purchase their land. A company by the name of Global Business Consultants is currently running this scam as of 11/25/19. Follow our Consumer Watch Team on Twitter. The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. Diamond Resorts. Assistant U.S. Attorney Matthew G. Morris prosecuted the case. The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes. This cookie is set by GDPR Cookie Consent plugin. Sell My Timeshare NOW can help you by advertising your timeshare on our dynamic website, and we can offer professional guidance through the whole resale process. If you took a loan to buy the property and you still have a balance, stopping payment will have an impact on your credit. The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. 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. A number of factors can impact the speed with which your closing will be processed including how quickly each party executes and returns required documents at various stages throughout the closing. We lost about $2200 in upfront fees. "We thought we would be able to give it to our children someday or sell it for extra money for our retirement, and the (timeshare) sales team made us feel like all of this was possible," she said. It is not legal or other professional advice and does not necessarily represent the opinion of Finn Law Group or its clients. To avoid being scammed, its essential to do your research, choose a reputable company, and get everything in writing. RDO has a number of resale companies in membership, all of which have signed up to our Code of Conduct: They are not permitted to take any form of mandatory upfront payment from sellers. "My husband and I contacted Sell My Timeshare NOW to list our timeshare week in Maui. They go by several different company names. You also have the option to opt-out of these cookies. After my first call with them, I felt comfortable and at ease that this was the right place to go. Today, I find that most of the RCI bonus . An investigation is usually triggered by an unusual volume or pattern of consumer complaints filed against a timeshare company. Be realistic about what you can get for your timeshare. The Better Business Bureau can provide information if you need clarification on whether a company is legitimate. Yes. Founded in 2003, SellMyTimeshareNow was created to help owners sell their unused timeshares. And then, as time went on and no sales were made, victims tried reaching back out to the companies, but their phone calls and e-mails went unanswered. 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. 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. We would certainly use their services again. If you feel that your Club Wyndham timeshare no longer meets your travel needs, make Wyndham your first and only call for guidance and solutions. Scammers have also manipulated the phone number that shows up on caller ID. More information about cookies can be found in our. TheCorporate Timeshare Network scamis a recent timeshare scam that has developed in the timeshare industry. While you may think of fraud and theft as being perpetrated by ruthless criminals on the streets, many scams are actually carefully orchestrated schemes that take place behind closed doors, in dimly lit rooms and over an IP telephone. As part of the conditions of that settlement, the defendant agreed to stop engaging in unfair and deceptive trade practices. See What We're Working On. The message says there's something wrong with. If you suspect that you might be falling victim to fraudulent business practices here in Pinellas County or elsewhere, reach out to your local consumer protection or economic crimes office for help and guidance. We legally assist consumers in terminating timeshare contracts. Timeshare Resort in Mexico (Photo: Kirt Edblom via Flickr/ CC BY-SA 2.0). These scams typically involve individuals alleging to be representatives of a brokerage firm, travel agency, title company, or . Receive Investor Alerts and Bulletins from OIEA byemailorRSS feed. Later that year, the Florida Department of Agriculture and Consumer Services conducted an onsite telemarketing inspection. They must offer all buyers a cooling off period. You can purchase a timeshare from an individual owner, timeshare developer or outright from a resort. Contact Information. Be cautious of companies that use high-pressure sales tactics, require upfront fees, or make false promises. Sell My Timeshare NOW recommends a licensed and bonded title company like Timeshare Closing Services. Whats the FBIs role in these kinds of cases? 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. Don't Get Stuck, Call Us Today! In this scam, a timeshare resale company contacts you as the owner and offers to help you sell your timeshare. Remember that, as our own Michael D. Finn shared some experience with creditcardguide.com. SellMyTimeshareNow.com offers more than just timeshare resale advertising; we work with you to get your timeshare seen and sold. If you have questions, we've got answers. SellMyTimeshareNow.com is the largest and most visible resale platform worldwide. A timeshare involves joint ownership of a propertyusually located within resorts in vacation hotspots (i.e., Florida, Colorado, Mexico). 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. Its preferable to do business with a reseller that takes its fee after the timeshare is sold, but if you must pay a fee in advance, get refund policies and promises in writing. 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. Fort Lauderdale, FL 33306-1614. The conspirators would assure victims that the non-existent buyers had already deposited money into trust accounts and that the sellers up-front fees would be fully reimbursed from those funds after the sale was complete. Visit Website. 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. When attempting to withdraw this amount on 22 Sept. Most commonly, consumers said they felt reality didn't match the big promises made in timeshare pitch meetings. This cookie can only be read from the domain they are set on and will not track any data while browsing through other sites. U.S. Attorney's Office, Eastern District of California, Domestic Violence, Child Exploitation, and Human Trafficking Prevention, Final Defendant Sentenced for Mexican Timeshare Resale Fraud Scheme, Former Financial Advisor Sentenced for Scheme to Steal Funds from Elderly Bank Customers, Connecticut Woman Sentenced for Social Security Benefit Fraud Scheme in Stockton, East Bakersfield, Delano, and Elsewhere, Former State Employee Sentenced to 12 months in Prison for Role in $2 Million Scheme to Defraud the Office of AIDS. Months and even years tick by with no sale in sight, however, as owners continue to pay annual maintenance fees. STAY CONNECTED And lets face it: sometimes life simply gets in the way. What you owe will simply be taken out of the buyer's purchase price during the closing process. YouTube sets this cookie to store the video preferences of the user using embedded YouTube video. 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. And complaints to BBB reveal exit companies often fail to honor money-back guarantees. Many owners pay thousands of dollars to fraudulent timeshare resale companies. ) or https:// means youve safely connected to the .gov website. If you need to sell timeshare, dont wait. Timeshares generally have very little value on the secondary market. This case was the product of an investigation by the Federal Bureau of Investigation. Some fraudsters may also use fake names and addresses to hide their identities. 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. The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies. If you suspect youve been scammed, file a complaint with your state attorney generals office and the IC3. Have a question about Government Services? This cookie is set by GDPR Cookie Consent plugin. Many of these types of complaints are handled by each states attorney generals office and local law enforcement. 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. During his employment, Rigsbee targeted elderly bank customers and stole $158,960 from these victims accounts. Timeshare Defense Attorneys explain the basics of a timeshare contract dispute and how a Las Vegas timeshare attorney can help. Try These Topics How to Execute a Quite Claim Deed Timeshare Transfer, 2023 Westgate Resorts. A Maryland woman told BBB years of previously undisclosed maintenance fees and better vacation options led her family to want to sell their timeshare. They were amazing and my timeshare sold in a reasonable amount of time. Scott, had previously run several timeshare resale companies in Pinellas County that were also shut down over a dozen years ago. If you make the deposit, the fraudsters will likely devise additional reasons to demand money in advance of the closing, which never occurs. Some desperate timeshare owners report paying resale companies $500 to list a timeshare, but promised . A .gov website belongs to an official government organization in the United States. Thank YouYour form has been successfully submitted. The Internet Explorer web browser is no longer supported by Club Wyndham. Remember that scammers can assume the identities of actual brokers. Many owners pay thousands of dollars to fraudulent timeshare resale companies. Timeshare resale companies under investigation are under investigation for a reason so hang up the phone and don't become a victim! Regardless of when or where you purchased your timeshare, you are entitled to resell it. Owning a timeshare comes with many perksprimarily access to a swanky resort in a place that you love. Timeshare owners who agreed to sell had to pay an upfront feeanywhere from a few hundred to a few thousand dollarsto cover various costs such as advertising or closing fees. For example: Fax Line:(916) 554-2900. Sign up to receive the latest deals and updates! call 855-312-9040 call 866-294-4194 . by Davina van Buren|Updated September 6, 2020, 5 of the Best Chicago Gangster & Crime Tours, Short or Long Term Parking at Orlando Airport: Best 3 spots, A Comparison of Extended Stay Hotels in Providence, Hair Transplant in Istanbul & Turkey: Top 6 Clinics, 5 of the Best Cruises from Orlando to the Bahamas. If you need clarification on whether a company is legitimate, do your research and ensure that you understand the contracts terms and conditions before you sign anything. Sacramento, CA. You can also call the coalition's consumer support line at 855-939-1515. Updated . 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. Typically, it can take anywhere from 60 to 180 days to complete a timeshare closing from start to finish. The study - Unpacking timeshare and vacation club sales- examines patterns of customer complaints, dollars spent and lost, customer reviews, related scams and more to show how predatory companies and scammers take advantage of consumers hoping to score deals on travel. This cookie, set by YouTube, registers a unique ID to store data on what videos from YouTube the user has seen. - Ask how the reseller will advertise and promote the timeshare unit. Some resale scams have bilked timeshare owners for thousands of dollars. And, while they're easy to get intothese contracts are incredibly difficult to escape, according to a. Be aware that scammers may be located far away from where they pretend to operate. She said I should look for an email from the refund department soon," the man said. - Before you sign any sort of contract, make sure you get the details of its terms and conditions. Follow OIEA onTwitter@SEC_Investor_Ed. No! For-sale-by-owner advertising is one of the most convenient and cost-effective ways to sell your timeshare fast. 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. In a 2016 lawsuit, Scott again settled with the Florida Attorney Generals Office. They claim they can release them from their timeshare obligations, resell, or rent their . Starwood recommended that I go to SellMyTimeshareNOW. Avoid timeshare scams. It does not store any personal data. Fake debt collection on supposedly unpaid timeshare fees isalso a common ruse used on unsuspecting owners. We deal with all major resort developers, and when you buy a timeshare resale you will save huge! The rest of the year, others own the timeshare and use it as theyd like. This website uses cookies to improve your digital experience. Beware of Timeshare Exit Companies. But despite its checkered past and an active state investigation, the company has remained on financial guru Dave Ramsey's recommended list of "most ethical" companies for three years. SellMyTimeshareNOW.com is an active timeshare resale marketplace and the best place to sell a timeshare. 3.) The property is usually managed by the resort in which it is located. No, your timeshare property was not "appraised" when you purchased it, and it does not need to be appraised to be resold. Here's what you need to know about these calls. They charge significant upfront fees, give misguided contractual advice and in most cases fail to deliver on those services. These cookies ensure basic functionalities and security features of the website, anonymously. A .gov website belongs to an official government organization in the United States. The vast majority of timeshare exit companies that claim they can get you out of your timeshare are scammers. Bluegreen Corporation offers timeshare vacation resorts throughout America, Aruba and the Bahamas. Federal Trade Commission Consumer Response Center 600 Pennsylvania Avenue NW Washington, DC 20580 . We found the representative extremely helpful and professional. International: 1-603-516-0200, Toll Free: 1-877-815-4227 What you owe will simply be taken out of the buyer's purchase price during the closing . Tuesday, February 15, 2022 . Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. A locked padlock Some use their timeshare exclusively for themselves, while others rent out their timeshare on popular home rental sites like Airbnb or VRBO. When the buyer failed to complete the sale, Sell My Timeshare NOW was ready to relist the property and find another buyer. Some timeshare-related businesses, however, treat consumers ethically, resulting in positive experiences for buyers and owners. Hassle-Free Closing Process - Expert assistance to finalize your timeshare sale. 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. 1. Start With Trust. Unfortunately, these scams often take advantage of many timeshare owners who seek to rid themselves of their contracts and sell their properties. 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. 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. CALL 800-351-0461 TODAY TO EXPLORE YOUR EXIT OPTIONS. 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.
