“Victims, particularly those eager to sell their interests in timeshare properties, are being contacted by people claiming to be timeshare buyers who are making sizable offers that may or may not require an upfront fee,” Morrissey said.
“Often, the buyer claims to have a ‘buyer waiting.’ In the interest of making the deal as simple and painless as possible, the buyer initiates all ‘necessary’ documents, and emails them to the seller to sign and send back,” Morrissey added.
“Sellers are told they will be reimbursed for these fees at the time of closing, only to find that the buyer and escrow account company have vanished before they have finalized the deal,” Morrissey said.
The DA wants citizens to know you should only use licensed real estate agents when dealing with any property ownership issues, especially timeshares. Any financial deals made should be put into writing, something the scam artists aren’t able to offer. And you should never agree to purchase anything over the phone if you’ve never dealt with the company in the past.
If you’d like to file a complaint with the FTC over a possible timeshare scam you know of, go to their website.
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