Timeshare owners in the United States are being targeted by scammers who promise to sell or rent their properties. According to the FBI’s Internet Crime Complaint Center, over 600 complaints were filed in 2022 regarding timeshares owned in Mexico, with losses of approximately $39.6 million.
Scammers often use high-pressure sales tactics, convincing owners to pay upfront fees for services such as listing and advertising, closing costs, and more, but then disappear or create additional fees.
Unfortunately, even those who fall victim to timeshare sales scams are still vulnerable to further fraud. They may be contacted by fraudulent timeshare fraud recovery companies that promise to help them recuperate their lost money.
Some of these companies demand upfront fees for their services, while others pretend to be government entities that require payments for fees associated with the sale of the timeshare.
To avoid becoming a victim of a timeshare scam, individuals should be cautious of unsolicited phone calls, emails, or texts from anyone interested in their timeshare.
They should also research all entities they are in contact with, contact offices independently to confirm if they are speaking to a representative of their company, and enlist the help of a trusted real estate agent or lawyer.
Scammers will often use high-pressure tactics and time-sensitive offers, so individuals should be wary of any opportunities that seem “too good to be true.”