Not only are many people scammed into purchasing a timeshare mortgage, they are also scammed when they want to get rid of a timeshare, too.
These timeshare scams are the worst because most folks were made to believe that when they purchased their timeshare, they would be able to sell their unit easily to some other lucky individual.
Let it be known that there are many timeshare resale salesmen that prey on folks that are desperately trying to get out of their contract.
Being aware of what a resale scam is all about will help you not to fall victim again.
Sales representatives from a timeshare resale company who want to list your property will try and pressure you into listing with them.
They will offer deals and perhaps a discount and promise you that they either have a buyer for your timeshare or can give an approximate date of when it will sell.
They will ask for an exorbitant amount of money to list your timeshare, and that is all.
This sales tactic goes so far to tell you that your timeshare is worth more than you bought it for, in the hopes of getting you to sign on.
And the discount they will offer will only be that you can pay half now and half after the sale.
Although, what you aren't aware of is that they increased the amount of your advertisement to compensate for this "deal".
Do your research.
Find out how much other resale companies are charging for their ad placements.
Since this type of pricing is unregulated, it is possible that the company you are dealing with is charging only what they think they can get away with and it might be dependent upon how much money you earn.
Never disclose your annual income.
To think that these scams don't even try to sell your timeshare is unethical to say the least.
They will simply take your money and put it in a paper, which is something you can do yourself for a lot less money.
If you want out of your timeshare, find a resale company that does not want any upfront fees and only asks for payment when the unit is sold.
Or find a service that will help you get out of your timeshare legally and timely.