04/01/12 — Timeshare scams are on the rise

View Archive

Timeshare scams are on the rise

By From staff reports
Published in News on April 1, 2012 1:50 AM

The Eastern North Carolina Better Business Bureau is warning consumers that timeshare scams are on the rise.

A consumer receives an e-mail or mailer offering a free trip, and all he or she has to do is sit through a seminar. Once the victim is at the seminar, the company turns on the high-pressure tactics in an attempt to sell a timeshare. Often, the offer is legitimate, but other times, it is a scam.

When buying or selling a timeshare, BBB offers the following tips:

*Start with BBB. Visit bbb.org to check out the Business Review of a company before doing business with them.

*Read the fine print. Especially when selling, make sure to read the contract carefully. Find out if the company is actually selling your timeshare or just charging to advertise the listing.

*Never wire money. Credit cards offer a certain amount of fraud protection that you cannot get if you use a wire service. Walk away from any deal that requires you to wire money or pay cash.

*Ask the salesman for all information in writing, including fees and ways the seller plans to advertise the unit.

*If it sounds too good to be true, it probably is. Be wary of any seller who promises a big selling price or quick turnaround. High pressure tactics are always a red flag.

For additional information, visit bbb.org.