You bought a timeshare but don’t use it as much as you’d hoped. You get a call from someone who says they’ll buy your timeshare, or who promises to sell it for you quickly. The catch? You have to pay them a fee first. Once you’ve paid the fee, they may not find you a buyer, and you may never hear from the company again.
To avoid timeshare resale scams:
- Check out the company before you agree to anything. Call our office at 1-877-5-NO-SCAM toll free within North Carolina (or 919-716-6000 out of state) to see if we have complaints against the company. Also, check with the Attorney General, consumer protection agency and/or Better Business Bureau in the company’s home state.
- Deal only with licensed real estate brokers or agents. Check with the Real Estate Commission in the state where your timeshare is located to make sure thecompany has a current license. For North Carolina companies, contact the North Carolina Real Estate Commission at (919) 875-3700.
- Get all terms in writing before you agree to anything. That includes services that will be performed, timing of the sale, fees and commissions, cancellation and refund policies. If a company pressures you or says you have to act now or you could miss out on a buyer, don’t do business with them.
- Do business only with someone who gets paid after the timeshare is sold. Don’t wire money or pay in cash before your timeshare is sold. When you are selling real estate, the commission is typically paid out of the proceeds from the sale and not paid in advance.
- Watch out for repeat scams. If you were scammed once by a timeshare reseller, another scammer might offer to help get your money back — for a fee.
We Can Help
If you have problems with a timeshare reseller, file a complaint with our office or call toll free within North Carolina at 1-877-5-NO-SCAM.