A chance to get a return on your investment, but is the offer too good to be true? When it comes to timeshares, it pays to be cautious.
Let ABC15 Know viewer, Emma, has owned a timeshare in Sedona for decades. They've enjoyed it but decided it was time to say goodbye. However, selling the timeshare has not been easy.
"There's a lot of scams out there," Emma said while recalling a time they paid someone to help them sell the timeshare but never heard from him after given the money.
So, when they received an offer to sell their timeshare for tens of thousands of dollars, they started researching the company.
"We said, 'we can't do anything until we check out the company'," explained Emma.
Emma says they contacted the real estate licensing agency in Washington, D.C., where the company's letterhead said they were based. The licenses matched the company name. But Emma says, as they moved forward with the sale, not everything was adding up.
"Their banking is done through Mexico and through Canada, which just didn't make any sense to me," she said.
Emma and her husband were asked to wire money to international accounts. They were told the money would cover fees and taxes and needed to be paid upfront.
"If the property is in the United States, why are you paying taxes in Mexico?" Emma reasoned, adding, "that was the straw that broke the camel's back."
Emma and her husband didn't wire any money and stopped moving forward with the proposed deal. However, other Arizonans who own a timeshare may receive a similar offer.
The FBI warns scammers are increasingly targeting timeshare owners. The department says fraudsters often mimic legitimate entities' email addresses and forge official documents all to convince victims that each phase of the scam is legitimate.
If you receive any proposal regarding a timeshare sale, don't rely on the contact information provided by the person contacting you. Find the company they claim to represent and contact them directly to confirm legitimacy.
Protect yourself by spotting red flags:
- If you are asked to pay fees or taxes upfront - don't.
- If you are asked to sign, notarize, or send any power-of-attorney documents - stop and end communication.
- If you are being rushed or pressured through a sale, pause and take time to think.
If you're a victim of a timeshare scam, report it.
Read more about the FBI warning, here.
