17 Nov How to avoid becoming victim of a Timeshare scam.
June 23, 2016, Lehigh Valley Live informed readers about the top 15 scams targeting our area. Number four is a timeshare scam where someone claiming to be a sales representative for a resale company contacts owners promising quick sale of their timeshare for a lot of money. The owners are to send money now to cover listing, advertising and closing costs. When owners follow up on the “sale”, they don’t get a return call or find the number disconnected.
One of our customers experienced something similar earlier this year. Mr. M shares, “On March 28, I received an email from a lady wishing to buy my timeshare for a vacation rental business she was setting up. She sent a certified bank cashier’s check for $2,400.00 with instructions to transfer the money via Western Union to her broker who, upon receipt, would arrange with First American Title to process the closing. She was eager to complete the sale but was suddenly called away to test a newly developed hearing aid that could restore 30% of her hearing. Odd, but she was trusting me with all that money and the companies involved are of excellent repute. The bank the check was drawn on has over 350 offices and First American is listed on the NYSE. The check arrived on April 11th and was deposited to our bank account. Dawn sensed a scam from the start and advised us not to send anything unless the check cleared first. The check bounced next day.”
My personal name was taken by a Hispanic man while I was working with another company. He used the company name, similar letterhead and the web address but changed the phone numbers to ring to him.
I personally fielded many calls from people who sent him thousands of dollars in money packs from Walgreens and then I worked extensively with both the local police department and the attorney general’s office in an attempt to shut him down.
Now you are on guard! Next time I’ll give you specific information on current timeshare resale facts so you can protect yourself further.