Timeshare scams

The timeshare industry is growing at an unprecedented clip. In a report released by Ernst & Young and VacationBetter.org, the timeshare industry enjoyed record growth during 2015. An increase in sales volume pushed timeshare sales and resales over the $8 billion mark. The average occupancy rate climbed to 78%, which represents another milestone for the timeshare industry.

Although beach resorts remain the most common type of timeshare, theme parks have the highest occupancy rate in the timeshare industry. The rapid growth of the timeshare industry has spawned the rapid growth of another industry.

Timeshare scams have proliferated at a pace that requires the services of an experienced team of timeshare relief attorneys.

Timeshare scam case study

The Federal Trade Commission (FTC) recently charged a Florida timeshare resale scheme of swindling consumers out of more than $15 million. Government regulators accused Pro Timeshare Resales of telling timeshare owners the company had buyers lined up ready to make purchases. In fact, the company had recruited neither individuals nor organizations to make timeshare purchases. The FTC also charged Pro Timeshare Resales of lying to customers about the company's capability of selling timeshares in a timely manner.

Pro Timeshare Resales charged property owners up to $2,500 in advance, but the company failed to fulfill the contractual binding promises. The collection of a considerable amount of upfront fees allowed Pro Timeshare Resales to finance other real estate endeavors. Federal regulators liken the scam to stealing money out of a Monopoly board game bank to buy available properties. The worst part of the timeshare scam involved Pro Timeshare Resales requesting that customers pay closing costs on properties the company had not even sold.

A federal court has placed a cease and desist order on the company, as well as frozen all company assets.

Two other timeshare scams have recently surfaced that should make vacation property owners wary.

Legal and Financial Protection

Advanced payment of a $500 or more fee to a timeshare resale company that promises to rent or sell a timeshare owner's interest.

Legal and Financial Protection

The payment of up to $3,000 per week to a timeshare relief company to take over ownership of a property.

How to Protect Against Timeshare Scams

Numerous timeshare relief companies provide legitimate services for clients. However, the increase in timeshare sales and resales has also created an increase in timeshare scam artists. Consumers have several ways to prevent timeshare scams from draining their bank accounts.

  • Verify the timeshare relief company has obtained a membership in the premiere national timeshare industry association, American Resort Development Association (ARDA)
  • Demand that the timeshare relief company place all of your money into a neutral escrow account managed by a timeshare relief attorney, until the title transfer consummates
  • Ensure the timeshare becomes part of the public record by establishing a deed
  • The transfer of the financial interest in a timeshare does not finalize until the timeshare association that you belong to approves the title transfer

Timeshare Legal Group has delivered superior timeshare relief services for many years. As one of the few legitimate timeshare resale and rental companies operating within the United States, we encourage our clients to follow a few tips to avoid timeshare scams. First, never pay more than a minimal upfront timeshare relief fee. Second, review local broker or timeshare sales licensing requirements. Finally, confirm the timeshare relief company is a member of ARDA. We cannot emphasize the final tip enough.

Do not succumb to the temptation of finding immediate timeshare relief. Our team of accomplished timeshare relief attorneys makes it clear to clients that timeshare relief takes time and more important, patience.

To learn more about our timeshare relief services, schedule a free consultation by calling us at xxx-xxx-xxxx or by completing the convenient form found on our website.

Scams

Timeshare scams

The timeshare industry is growing at an unprecedented clip. In a report released by Ernst & Young and VacationBetter.org, the timeshare industry enjoyed record growth during 2015. An increase in sales volume pushed timeshare sales and resales over the $8 billion mark. The average occupancy rate climbed to 78%, which represents another milestone for the timeshare industry.

Although beach resorts remain the most common type of timeshare, theme parks have the highest occupancy rate in the timeshare industry. The rapid growth of the timeshare industry has spawned the rapid growth of another industry.

Timeshare scams have proliferated at a pace that requires the services of an experienced team of timeshare relief attorneys.

Timeshare scam case study

The Federal Trade Commission (FTC) recently charged a Florida timeshare resale scheme of swindling consumers out of more than $15 million. Government regulators accused Pro Timeshare Resales of telling timeshare owners the company had buyers lined up ready to make purchases. In fact, the company had recruited neither individuals nor organizations to make timeshare purchases. The FTC also charged Pro Timeshare Resales of lying to customers about the company's capability of selling timeshares in a timely manner.

Pro Timeshare Resales charged property owners up to $2,500 in advance, but the company failed to fulfill the contractual binding promises. The collection of a considerable amount of upfront fees allowed Pro Timeshare Resales to finance other real estate endeavors. Federal regulators liken the scam to stealing money out of a Monopoly board game bank to buy available properties. The worst part of the timeshare scam involved Pro Timeshare Resales requesting that customers pay closing costs on properties the company had not even sold.

A federal court has placed a cease and desist order on the company, as well as frozen all company assets.

Two other timeshare scams have recently surfaced that should make vacation property owners wary.

How to Protect Against Timeshare Scams

Numerous timeshare relief companies provide legitimate services for clients. However, the increase in timeshare sales and resales has also created an increase in timeshare scam artists. Consumers have several ways to prevent timeshare scams from draining their bank accounts.

  • Verify the timeshare relief company has obtained a membership in the premiere national timeshare industry association, American Resort Development Association (ARDA)
  • Demand that the timeshare relief company place all of your money into a neutral escrow account managed by a timeshare relief attorney, until the title transfer consummates
  • Ensure the timeshare becomes part of the public record by establishing a deed
  • The transfer of the financial interest in a timeshare does not finalize until the timeshare association that you belong to approves the title transfer

Timeshare Legal Group has delivered superior timeshare relief services for many years. As one of the few legitimate timeshare resale and rental companies operating within the United States, we encourage our clients to follow a few tips to avoid timeshare scams. First, never pay more than a minimal upfront timeshare relief fee. Second, review local broker or timeshare sales licensing requirements. Finally, confirm the timeshare relief company is a member of ARDA. We cannot emphasize the final tip enough.

Do not succumb to the temptation of finding immediate timeshare relief. Our team of accomplished timeshare relief attorneys makes it clear to clients that timeshare relief takes time and more important, patience.

To learn more about our timeshare relief services, schedule a free consultation by calling us at xxx-xxx-xxxx or by completing the convenient form found on our website.