Aug 28

Sell a Timeshare? Timeshare Bogus Listing Scams – Timeshare Fraud Alert – Timeshare Sales Tips from a Timeshare Lawyer

Timeshare Fraud Scams are handled by our Timeshare Attorneys

Can You Believe It??
This lush patio can’t hurt you… right? Vacation Fraud is Everywhere! A beachfront right next to the pipeline… but it’s not the owner who you send the rent too… it’s another vacation fraud scam

 People ask as a consumer protection attorney… Can we sell a timeshare this some new way? Can we transfer timeshare the way the sales rep says?

 Is there as legal way to get rid of a timeshare? Or, Can I get out of my timeshare for cheap?

 Are there easy ways to get out a timeshare? So, Why worry when I sell a timeshare… right?

 If needed, there are also competent & affordable help from consumer lawyers 

  Clear Information  =  Consumer Empowerment!

 

THIS ONE YOU NEED TO KNOW:

**TIMESHARE FRAUD ALERT**

There have been recent reports on the rise involving fraud scheme, that we first started warning consumers about back in 2011. Most recent reports come in various permutations of the exact same scheme we reported worldwide, including our participation with the TCPAA.org website to get the word out to consumers on how to avoid some of the most prevalent forms of timeshare fraud and timeshare scams that prey on consumers were simply trying to sell a timeshare, transfer a timeshare, or legally cancel a timeshare contract.

The video below shows another typical story in this “Fake Buyers” and “Bogus Closing Costs” fraud scam, that is deceiving people—especially the elderly—and frustrating timeshare consumer protection attorneys, timeshare consumer advocates and generally people and their lawyers everywhere, who have been touched by this worldwide fraud scheme. FOX6 news video

Thanks US Postal Inspectors for postal fraud investigations and Fox6 Now for the accurate reporting on the “Fake Buyers” and “Bogus Closing Costs” fraud scam, because the fact that people are still losing money on this, means that some people still haven’t gotten the word yet… Let’s help people… embed this video (above) and here is a link to the 2012 TCPAA.org Consumer Alert for Fake Buyer scam.

I also had a YouTube video in 2012 that covered this subject of bogus listings, fake buyers, and fraudulent transfers–we bring it back because, tragically,  the same fraud still exists.

So the most important thing is to spread this word far and wide!

Victims are widespread as you can trace all over the internet, but the direct word on this specific type of deception involving a claimed timeshare sale with a claimed “Timeshare Buyer” and claimed “Closing Costs” to be paid by the timeshare owner (that’s you!). They can fool anybody with the sophisticated fraud by using deceptive paperwork to give the illusion of a legitimate buyer purchasing your timeshare, and the use of an escrow company that is insisting upon $1000 or many thousands of dollars for “Closing Costs”. Due to the sophistication of this scheme victims come from all walks of life, but it is particularly prevalent in the Senior Citizen community. These con artists say they have a “Buyer” for a HIGH price ready to close escrow, but you just simply have to pay upfront closing costs—up to $5000, or more if they can get it.

These fraud schemes seek to obtain at least $1000 of extra closing cost money added to the fees for listing the timeshare property for sale (which again, was a a total deception). Often they want between $3500 and $5000 per timeshare, claimed to be “closing costs” used to fund an [invented, imaginary] escrow transaction.

HERE IS THE Timeshare Fraud PITCH—LOOK FOR THIS RED FLAG!

Typically, they claim that your money is needed in advance in order to close escrow. They will explain when questioned that the owner/seller “must” fund the closing costs FIRST in order to close (THIS IS A FALSE CLAIM).
It is deceitfully explained that timeshare sellers (you) must pay all the closing costs ‘upfront’ (RED FLAG) and that is because it would be ‘ILLEGAL’ for the funds to simply come out of escrow at closing (ALSO FALSE). If you ever sold a home, you know that the sellers get a settlement statement (HUD-1 form) that shows all the offsets for ‘closing costs’ which have been deducted out of the seller’s proceeds from the sale (leaving the seller with adjusted or “net” proceeds after the sale). So, you know this upfront closing costs law is nothing more than an invented lie.

Another RED FLAG is just simply the amount: $5000 is even a lot for some homeowner’s extra closing costs. For a fractional timeshare interest, $5000 seems outrageously high. So these criminal schemes have just gotten more clever, by charging less money for closing costs so it is more believable. TCPAA.org Consumer Reports network and affiliated timeshare consumer protection attorney’s Consumer Testimony both indicate that the claimed “Buyer” never existed at all. The alleged sale was never approved by the resort, and that means the timeshare owner has not achieved a lawful divestment. Consumer Reports further indicated that Refund attempts were typically ignored (often there was no way to even contact the company directly or they had simply closed the business). In the rare cases if a company still existed and was finally reached, refund requests were deviously resisted.

TIMESHARE SALES SCAM—Timeshare Fake Buyer Fraud—HERE IS THE SOLUTION !

it is simple –> just have your Lawyer advise the Listing company that you’ll double or even quadruple their wages (remembering the $500 to $1000 you paid [upfront] to start the listing). BUT, tell them you WON’T pay a penny more now [upfront], but if they really have a buyer and really can close… you will pay them thousands of your net-proceeds as a big fat bonus. Just tell them to simply deduct the money from the escrow funds (i.e. the tens of thousands {supposedly} paid by the buyer {…if there really is one} ), and you will be happy with the net proceeds sent to your Attorney’s law office. Consumer Reminder: A check is what you want, don’t give them your bank account number… unless you’re very brave. If you use Consumer Lawyers, they have real, licensed, trusted and dependable real estate agents, who are specialists in certain resorts. There are a minority of timeshare with values… but be extremely careful because timeshare fraud is rampant.

2009-2012 Consumer Protection Attorney Testimony from Consumers show this trend on the rise, and disturbingly in 2013 the fraud has not ceased at all… it just keeps victimizing [unsuspecting] consumers. As a result, the mandate is to get this word out to every timeshare owner we can. As recently as late June 2013, new Consumer Whistle Blower reports show that these listing fraud outfits will try in the end to convince you that since they are not real estate agents, ‘by law’ you must pay the closing costs upfront or it violates the law and they could go to jail. They’ll plead with the owner that the “deal is done” [a lie] and they are just trying to protect your sale. The sales reps will spend many long hours hassling and harassing you… all along stating they are doing this all for ‘you’ because they have already been paid their upfront fee to list the timeshare and this is ‘your’ payoff. The Scams use this false altruism to cover over abusive Fraud.

Remember… When they tell you they are not real estate brokers but they already took their initial fee ‘to sell an interest in real property on behalf of the seller’ [which is a textbook case for requiring a real estate license], the RED FLAG should be all the way out with blinking strobe lights and screaming sirens going off.

Also Remember, if your timeshare was really worth the thousands of dollars (or the tens of thousands…) that they are promising you, and it really is “HOT” and worth BIG money to buyers, just be honest with yourself and go to eBay.com first for a second opinion of thousands of timeshares that didn’t sell. For a select few of you, you can easily sell it for no fees at all… learn how!

 

So now you’re a savvy timeshare seller, and you will have already gone to eBay.com and probably know your timeshare is either an exception… or the rule of being valueless (i.e. no one will even pay $1.00 for it). If this is your timeshare, then timeshare listings are not for you… what will work is a negotiated release agreement with the timeshare resort or vacation club (membership, points and/or deeded timeshares).