I’ve written about this before, but in light of Sell My Timeshare NOW‘s press release this week supporting more consumer education for people who buy timeshare resales or sell timeshare resales, it never hurts to pass on this message again.

The “Nigerian scam,” also called the “419 scam,” never seems to go away, although its sources have spread far beyond Nigeria and touched many areas besides timeshare sales. When it comes to selling timeshare, here’s basically how the Nigerian scam works:

The timeshare owner receives a letter, email, or phone call saying that someone wants to purchase his timeshare unit. The phony timeshare buyer, or his phony representative, then sends the timeshare owner a check for more than the purchase price of the timeshare unit, a check that the elated owner deposits. If the timeshare owner makes the mistake of promptly sending to the phony buyer the executed deed to his timeshare and the difference between the check sent and the sales price, then the timeshare owner has lost both his timeshare and the money he or she sent back to the buyer.

Even though many people have heard about this timeshare scam, they get bitten by it because the check they receive from the phony timeshare buyer usually looks so authentic that even the timeshare owner’s bank may initially accept it as either a valid bank check or credit union draft. Despite the fact that your bank accepts the buyers check and at first credits it into your account, days or even weeks later, when the counterfeit check works its way back to the issuing bank, its fraudulence will be discovered.

Why People Still Fall for Timeshare Scams

As old as this timeshare scam is, people still get caught by it. While dozens, maybe hundreds, of bogus deals may cross your desk, never doubt the ability of one lone criminal to craft an approach that sounds so sincere and so genuine, that even savvy skeptics fall for it. Letterheads that look like they come from a timeshare resales company, from eBay, or another seemingly authentic source may trick you into believing that you have a genuine offer to buy timeshare in your hands.

Another variation on this timeshare scam is for you to be contacted by someone who says he or she has a guaranteed buyer for your timeshare weeks or timeshare unit, and asks you to send a check – say for $200 – to cover the transfer costs. Mail that check, and guess what happens next?

Nothing. Absolutely nothing.

You might as well have taken two one-hundred dollar bills and flushed them away. The loss is not as great this way, but it is still money gone with nothing to show for it.

Reliable Ways to Sell Timeshare

The message here is not a warning against paying fees upfront to sell timeshare, despite what some voices in the timeshare industry try to preach. There are many situations in which it makes good sense to pay someone to help you advertise and market your timeshare for sale. Just make sure you first confirm that the timeshare company you are paying has a proven record of successfully advertising timeshare resales and timeshare rentals in a global marketplace.

More than 1.7 million people visit Sell My Timeshare NOW’s website each month. In 2007, Sell My Timeshare NOW presented over $274 million in offers to buy timeshare or rent timeshare advertised on its website.

Recently the Dover, NH newspaper, Fosters Daily Democrat, ran a nice human-interest article about charitable giving. It was especially interesting to all of us at Sell My Timeshare NOW because four of the “humans” in this human-interest piece are part of the timeshare team here at our company.

Jessica Nason, Kayla Peach, Karen Gearwar, and Kevin Curran were each asked what they would do if they won that day’s $230 million Powerball jackpot, and were directed to give half the money to charity.

Jessica said, “I know there’s a lot of problems overseas, but we have to take care of problems at home before we spend money on other countries.” She explained that she would donate her $115 million to starving children in America; a concept that Kayla endorsed.

Karen was thinking along the same lines, and said her money would go to homeless children in America, while Kevin said, “I’d save animals that are malnourished and have been kicked to the curb. I hate seeing that happen.”

Sell My Timeshare NOW – Solving Problems Every Day

It doesn’t surprise me that Sell My Timeshare NOW employees are eager to share; I see them giving every day with their dedication, hard work, and genuine commitment to helping people buy, rent, or sell timeshare. Because they know we provide a valuable service and that our company is built on integrity, they come to work enthusiastic about helping people enjoy vacation ownership at affordable prices or assisting timeshare owners who are ready to sell timeshare they no longer use. Either way, they make an important contribution to helping families manage their dollars and maximize their vacation experiences.

And in today’s overworked, overstressed world, that is a pretty important contribution in itself.

Call us at (877) 815-4227. Jessica, Kayla, Karen, Kevin, and about 100 other dedicated timeshare specialists are hard at work making good things happen for people every day.

Last week, Florida’s Attorney General, Bill McCollum increased his focus on consumer education specifically targeting scams in timeshare sales.

It makes sense that McCollum would have a particular interest in timeshare issues since more timeshare resorts are located in Orlando than in any other city, and more timeshare resorts located in the state of Florida than any other US location. McCollum’s office recommends that people who want to sell timeshare use either, a licensed real estate broker or they sell by owner — and both are excellent suggestions.

Avoid Timeshare Scams: Sell Timeshare Through a Timeshare Broker

A licensed real estate broker, like Sell My Timeshare NOW’s sister company, Timeshare Hot Deal, is an excellent choice for some people who are ready to sell timeshare. A timeshare broker gives you the benefit of a commission-motivated sales professional and the plus of paying no fees until your timeshare unit or timeshare weeks actually sell.

Avoid Timeshare Scams: Sell Timeshare By Owner

Selling timeshare by-owner is also a good option. By owner selling lets you control every detail of your timeshare resale; and it is the way many of the timeshare sellers at Sell My Timeshare NOW handle their timeshare resales transaction. Sell My Timeshare NOW advertises and markets available timeshare real estate, attracting over 1.7 million visitors per month to our website. In 2007, more than $274 million in offers to buy timeshare or rent timeshare were made on properties in our inventory.

But Attorney General Bill McCollum’s message for more consumer education is important! Before you buy, rent, or sell timeshare, do your research to ensure that whomever you hire to help you is reputable and has a proven track record in the timeshare resales industry.

To read more about the importance of consumer education for people who want to buy timeshare, sell timeshare or rent timeshare, click here to read Sell My Timeshare NOW’s press release.

State of Missouri Attorney General Jay Nixon has filed a lawsuit in Taney County Circuit Court against Branson log Homes, a company which does business as Executive Timbers Resort and Golf Course. The lawsuit alleges that the southwest Missouri company used deceptive practices, fraud, and misrepresentation in the sale an advertisement of timeshare memberships, timeshare plans, and timeshare property.

Details of the Alleged Timeshare Fraud

According to the Attorney General’s Office, consumers who contacted them complained that the timeshare company:

• Failed to provide required notice to them of their right to cancel contracts.
• Failed to allow consumers to cancel their contracts within five days after they purchased a timeshare membership.
• Billed timeshare buyers for maintenance or upkeep fees on property they were trading in, after neglecting to inform consumers that they would be required to pay such fees.
• Did not reimburse consumers for maintenance fees after telling them those fees would be reimbursed.
• Promised that consumers who purchases a timeshare membership, plan, or property from them would receive certain benefits , but then didn’t make good on those promises, and
• Did not disclose the fact that it was already over $30,000 in debt to the travel club that it was using to provide travel club memberships to the consumers.

What To Do If You Are a Victim of a Timeshare Scam

The Missouri Attorney General’s investigation has revealed that most victims of this timeshare scam have lost between $7,000 and $17,000 each, but some people may have lost more. If you want more information about this problem, contact the Office of the Attorney General at [email protected] or 1-800-392-8222 (from within Missouri) or 573-751-3321 (outside Missouri).

If you believe you are a victim of timeshare fraud in another US state, contact that state’s office of Consumer Protection or the Attorney General. Another way to learn more about protecting yourself against timeshare fraud is to talk with other timeshare owners.

And to learn more about safe and cost effective ways to buy timeshare, visit the website for Sell My Timeshare NOW.