Timeshare Market – Secondary Scams
Chances are good that during the sales pitch leading up to your timeshare purchase, you were promised that you were making a real estate ‘investment’, that there exists a substantial secondary market for timeshare resales, that your timeshare would appreciate in value, that there were people ‘waiting in the wings’ to purchase the same unit, time was of the essence, etc…
Sad to say, if there exists a secondary market for timeshare sales at all, it is extremely limited. But this has in no way prevented the formation of a cottage industry for another set of unsavory types in the “timeshare ‘resale'” industry. These are individuals who typically work out of boiler room settings, who charge exorbitant fees, pocket the money, and thereafter generally do nothing. They are not licensed realtors, and their ‘clientele’ consists largely of elderly individuals who are especially vulnerable. The situation has become so dire that it has prompted the State of Florida, for example, to pass the Timeshare Resale Accountability Act. Dozen of criminal prosecutions have come out of legislation like this. According to Federal Trade Commission official Charles Harwood, quoted in the Bloomburg Report: “Timeshare resale scammers have cheated tens of thousands of timeshare owners out of tens of millions of dollars by convincing them to pay for a false promise.” http://www.bloomberg.com/news/2013-06-06/florida-prosecutors-say-191-timeshare-cases-filed-in-crackdown.html
The bottom line: Don’t get scammed again. Your best chance to keep this from happening is to hire an attorney. We have been specializing in legally rescinding timeshares for some time now, with very favorable results.
You owe it to yourself to obtain sound, competent legal representation by counsel with over twenty-five years experience in contract litigation. You will be made aware of your rights in addressing the situation with professionalism and integrity. In many cases we can obtain a legal rescission of the contract so as to get you out from under that oppressive lifelong timeshare obligation. At the very least, there often exist good faith legal grounds to warrant a formal dispute invoking federal consumer law to protect your credit with the national bureaus. We’ll be happy to discuss your rights free of charge at 407-644-1336.
Our next post will be about Wyndham Timeshare Cancellation