Here’s how it works: A time-share reseller makes an unsolicited offer to a timeshare owner, usually getting the name from the local Registry of Deeds. The fraudster purports to have a buyer lined up for the timeshare, often for a price that’s well above the market value. These scammers promise a quick sale: All the timeshare owner needs to do is fork over money to cover the closing costs and other fees associated with the transaction.
Of course, there usually is no actual buyer and no transaction takes place – except for the scammer pocketing the timeshare owner’s money.
If you own a timeshare, here are a few telltale signs of a timeshare scam: A “reseller” contacts you when your timeshare isn’t even on the market, the reseller requires advance fees such as a “listing fee” or “appraisal fee,” and the reseller expresses a need to complete the transaction quickly.
