Full question:
I listed my timeshare with a company in Florida and they were a fraud. I paid thru my credit card and got that money back and now a new company named Luxury Transfer & Financial says they can sell my time share, but the old company (frauds) will file a Estoppel Report and the new people are asking for $2,600 upfront and also they have a buyer who will pay upfront. I don't think this is legal. They also said the Attorney General in Florida got thru to all these bogus timeshare people and got millions of dollars back which they kept while we in other states, etc. paid the price for all the harassment from these types of people. I would love to sell my timeshare, but don't trust anyone.
- Category: Real Property
- Subcategory: Sales
- Date:
- State: Arizona
Answer:
You don’t need to use a separate marketing company to sell your timeshare. You can sell it yourself or hire a licensed real estate broker in your area. If you seek assistance, do thorough research before hiring or paying any company.
Here’s some advice from the Florida Attorney General:
How to protect yourself: Timeshare sales & resales
Timeshare scams can happen both when you buy and when you try to resell. Be cautious of unsolicited calls or postcards urging you to sell your timeshare.
Be wary of hard sales pitches
Salespeople may pressure you to sign contracts immediately. Remember, you can leave and review the contract later. Check your cancellation rights after signing.
Be skeptical of too-good-to-be-true claims
Salespeople may claim there’s a high demand for your timeshare or that they have a buyer ready. Be cautious; the timeshare market is often not as active as they suggest.
Question the need for upfront fees
Most resale companies charge a small advance listing fee, typically between three hundred and five hundred dollars, before selling your timeshare. It’s better to choose a company that takes their fee from the sale proceeds.
Consider other options
You might sell your timeshare “by owner” through ads in relevant publications or list it with a licensed broker. Alternatively, consider companies that allow you to exchange your timeshare for a different location.
For more information, you can contact the Department of Business and Professional Regulation, Division of Florida Land Sales, Condominiums, and Mobile Homes, Bureau of Timeshares at.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.