Harrisburg, Pa. (WHTM)- Someone offering to help you sell your time share may be trying to cash in.
AARP says this is how it works, you get a call from a supposed broker who claims to have a buyer lined up and ready. They might even give you a name and phone number for the buyer, who confirms their interest in your time share. Then the scammer sends over signed purchase documents that look legitimate, asks you to provide a credit card number or make a wire transfer but the deal never closes, the scammer pockets the money, and by the time you figure it out, it is too late to get your money back and you are still stuck with the time-share.
Do’s
Do ask your resort if it has a resale program, rather than relying on a cold-calling stranger to make a deal. Consumer Reports recommends checking to see if the resort imposes any restrictions, fees or other limitations on time-share sales.
Do check with the Better Business Bureau and your state’s consumer protection office to see whether a resale company has a history of complaints.
Do read the fine print. Go over a sales contract carefully to make sure it matches all the reseller’s promises. If you can, run it by an attorney. If the terms aren’t what you were led to expect, don’t sign.
Do be realistic about what you expect to make from a resale, and be skeptical of a seller who guarantees a big return.
Don’ts
Don’t agree to anything on the phone. Do a background check on the resale company before moving…
