Owning a timeshare can be a huge hassle. They start off affordable and quickly snowball into a financial burden that you rarely get to use the way you intended to. This makes the thought of getting rid of your property a pretty appealing thought after a while. Unfortunately, finding out to to successfully get rid of a timeshare safely and affordably can be just as much of a hassle, if not more, since timeshare resale fraud is fast becoming one of the most common (and costly) consumer frauds in the country. So how can you get rid of your timeshare without falling victim to one of these sneaky scams?
Each year the Better Business Bureau releases their annual list of common consumer scams. Top contenders consist of credit card fraud and insurance fraud. However, every year a newer scheme makes its way closer to the top - timeshare resale scams. Last year it was ranked number four on the list, and national statistics it may rank even higher now as it nudges out its competitors in many states.
If you are trying to sell your timeshare it is essential that you do what you can to avoid these scams. Diligent research is the best way to prepare yourself in case you come up against these con artists as it educates you on what to look out for. Never believe exaggerated promises of a fast sale or guaranteed buyers, and turn away companies that want you to pay expensive upfront fees. Ask a lot of questions, follow up, and never agree to a commitment before you have had the opportunity to do some research.