It is quite common to come across many different companies that promote timeshares. Some of these companies are Executive properties, Premium Timeshare Exchange, Vacation Property Services, and more. While many of these companies are legitimate, there are some that are just out to scam you. If you want to avoid being scammed, make sure that you research these companies first. Some of the companies are listed below. Also, make sure that you understand the terms and conditions associated with them before contacting them.
Premium Timeshare Exchange
A reader has submitted an alert to me about a timeshare rental scam, claiming that they were victimized by a company called Premium Timeshare Exchange. It is unclear if Premium Timeshare Exchange is affiliated with any other group, but the reader claims that the company asked him for a large upfront fee in exchange for a promise of a timeshare rental. This is a very dishonest practice, and you should avoid any timeshare rental company that solicits you by cold calling.
The scammer may also target timeshare owners who live in Mexico. This company, located in Rochester, MN, sends unsolicited phone calls to timeshare owners in Mexico, saying they have a corporate buyer for their timeshares. The scammers may pose as real estate agents, but they're not. They ask for fees by phone and claim that you have to wire the money to Mexico. The fee is often in the thousands of dollars.
Another common sign of a timeshare resale scam is the request for upfront payments or upfront fees. This is a sure sign of a timeshare resale scam, and you should be wary of anyone who demands upfront payment. If you're asked to pay upfront fees or receive unsolicited telemarketing calls, don't give in to these promises - they're most likely a fake.
The scammers are also notorious for misrepresenting their services. In one case, the Attorney General's Office subpoenaed 17 timeshare resale companies for alleged fraudulent marketing practices. They lied to consumers about the number of buyers interested in purchasing or renting timeshares. They also failed to honor cancellation policies and misrepresented what they actually offered. Many people who fall victim to timeshare resale companies are never free of their contracts.
Vacation Property Services
The Federal Trade Commission has sent refund checks to people who lost money to vacation property services. The Florida-based company allegedly misled timeshare owners by charging up to $2,500 in fees and charging them for services that they never rendered. The company has not responded to the allegations, but has received complaints from owners who were duped by the company. The following are some examples of why Vacation Property Services is a timeshare marketing scam.
According to the FTC complaint, Vacation Property Services, Inc., a marketing company based in Florida, deceived timeshare owners into paying large fees up front to sell them vacation property. It also violated the FTC Act by calling hundreds of thousands of consumers on the Do Not Call Registry. These violations have led to the investigation of the company's practices, and it has filed a civil suit against the company.
Many timeshare owners have purchased timeshares after receiving a free gift before the sales presentation. Unfortunately, these salespeople often use high-pressure tactics, which makes it hard to find a legitimate buyer. Despite these warning signs, the growing number of timeshare owners suggests that Vacation Property Services is not a timeshare marketing scam. Just like any other business, timeshares can be expensive and are not for everyone. In order to stay profitable, these companies need a large number of owners, and they will do anything they can to get theirs. As a result, you can never be too careful when buying one.
Be wary of unsolicited calls from timeshare resale companies. They may seem legitimate, but they're not. Never give a telemarketer your credit card number. There's no way to guarantee that your money will be returned. Also, don't sign a contract or provide financial information to these companies. Moreover, never give out any type of upfront fees to timeshare resale scammers.
Executive properties
If you're looking for a timeshare, be sure to be aware of the potential for being scammed. The best way to prevent being scammed is to do your research and ask for references. In many cases, timeshare marketers will try to sell you the timeshare under false pretenses, including claiming it will increase in value over time or have resale value. Before committing to the purchase, it is important to research the timeshare company and the specific product offered.
Be wary of telemarketers who pose as affiliated with well-known timeshare exchange companies. In one case, a reader reported receiving a call from a telemarketer claiming to be affiliated with RCI Getaway Weeks. The telemarketer told the timeshare owner that his or her RCI Getaway Weeks were about to expire and he or she needed to pay an exchange or reservation fee to make a reservation for a vacation. While this telemarketer may sound legitimate, the owner ultimately doesn't get the rental promised.
A woman from California was trying to sell her timeshare and received a call from an executive from a timeshare company, saying she was interested in selling her timeshare for $18,000 USD. She agreed to put up $1200 in escrow to sell the timeshare. As soon as she agreed to the terms, however, the buyer never showed up and she has no way to contact her new buyer. Ultimately, she lost all of her money.
The scam is so well organized that it has become a major problem for the vacation club industry. But despite the growing number of scams, the company has done little to protect its members from these unscrupulous agents. To help consumers avoid falling victim to these scams, RCI should establish a system for members to notify them of fraudulent activity. The company should also issue a standard cease and desist letter. Finally, the organization should publish a warning about timeshare scams.
Executive properties Inc.
Executive properties, a travel management company with an agreement with several timeshare resorts in Mexico, is a notorious timeshare marketing scam. The company promises to sell timeshares at inflated prices, and their website boasts a list of celebrities as clients. It also claims to have offices in the USA and Mexico. However, there are no reviews on their website, and there is no information about whether or not any of the timeshares are genuine.
The FBI and SEC have launched joint investigations into the timeshare marketing scam, which targets vacationers in Mexico. The scammers often pose as representatives of travel agencies, brokerage firms, and escrow agents, and claim that they are selling timeshares. The SEC has issued warnings against such scams, but there are no official enforcement actions yet. You should remain vigilant, but you don't have to pay thousands of dollars to get scammed.
Many scammers use similar business names to legitimate companies. For example, the timeshare scammer might say he is from a Las Vegas company, which has been in business for 10 years. However, you should check online to find out whether the company is the same as ABC Company, Inc. It is best to stay away from such companies. The New York Department of State's Consumer Assistance Unit has received about 30 complaints related to timeshares in the past year.
Timeshare fraud is a serious crime. Timeshare scammers use desperate timeshare owners to take their money. The Missouri Real Estate Commission recommends consumers be very careful about providing any personal information to these scammers. Furthermore, you should question any timeshare marketing offers you receive. It is important to get all the terms and conditions in writing and make sure you understand them completely before committing yourself. It is best to have an attorney review any timeshare contract you are given.
Vacation Property Exchange
Many timeshare scams operate in the resale market. The Organisation for Timeshares in Europe (OTIE) is working with authorities to stop these fraudulent activities. In a typical scenario, a timeshare owner is contacted by a fraudulent person who promises them a buyer at a good price. The victim is asked for an up-front fee, which is then never paid. The scam can damage the reputation of the timeshare industry and the sales of new resorts.
Many people who fall victim to a vacation scam believe they've found an incredible deal online, but then are asked to pay a deposit by wire transfer. When they timeshare rip off , the scammer may not even exist, or they'll have a different property from what they advertised. It's impossible to know for sure, but the scammers' tactics can be largely avoided by following the steps outlined in this article.
Many timeshare fraudsters are persistent. If you receive an unsolicited offer from a timeshare resort, consider contacting the resort directly. They may be aware of the scam, and can assist you in determining its legitimacy. In some cases, consumers may receive a refund, but in most cases, they never see their money again. The scammers often promise to reimburse consumers after the sale, but most of the time, they don't even provide the vacation package that they originally purchased.
When buying a timeshare, it's crucial to find a legal representative that can help you protect your investment. The most important thing to remember is to avoid any timeshare broker who asks you for money upfront. While you might not be able to get your money back, it's very hard to recover it once you've wired it overseas. Furthermore, never trust a timeshare broker who claims to have a special SEC permit.