Both the Better Business Bureau and the FBI say timeshare resale fraud is on the rise, reported Jay Gormley on CBS11-TV, Dallas – Fort Worth. Timeshare owners are paying thousands of dollars up front to timeshare resale services, but their timeshares aren’t sold and customers have difficulty getting refunds.
From 2009 through 2011, the BBB received 274 complaints from North Texans and 9,251 complaints, nationwide.
“The scam works because the victims assume that paying money up front is normal to cover legitimate listing and appraisal fees,” notes Jay Gormley. “They soon find out, however, there’s nothing legitimate about it.”
The BBB says timeshare owners should treat their properties like they were selling their own homes and that any outside realtors, brokers or companies should not receive payment until the property actually sells.
See the video above or to read the story go to http://dfw.cbslocal.com/2012/02/22/dallas-bbb-warns-timeshare-scams-are-on-the-rise/#comments
To check out timeshare resale services and other types of business, find BBB Accredited Businesses, see tips and alerts, report false advertising, or file customer complaints, start at www.bbb.org.