Beware of Timeshare Exit Scams
These days, it is more important than ever to be aware of fraudulent activity, which takes place in almost any marketplace, including timeshare resale. At Westgate Resorts, we believe it is crucial to protect our owners from these fraudulent gimmicks and illegitimate actions. Although timeshare companies and federal and state government officials are working together to protect consumers and their timeshare products, timeshare owners can also be proactive by taking a few simple precautions.
How to Detect Fraudulent Activity:
Upfront fees. Most timeshare resale scammers ask timeshare owners that are looking to sell to pay an upfront fee in return for promising to sell the timeshare; however, once the owner sends the money, they are left with no sale and no trace of the scammer or money. The timeshare owner quickly becomes the victim.
“Guaranteed Sales.” Beware of any company that guarantees to sell a timeshare property within a certain amount of time.
Promises to modify or cancel timeshare contractual obligations.
Offers to transfer paid-off ownership. Be wary of any calls or mailings that offer to transfer paid-off ownership to another party.
Demands everything in writing. Make sure to carefully review all contracts and documents regarding the sale of the timeshare. Consider having an attorney review the documents before signing anything.
Research. It is crucial to investigate any timeshare resale company before using its services. Extensive research will help in determining whether or not the resale company is legitimate.
Contact the resort. Owners should understand the timeshare resort’s resale policy. Most timeshare resorts have exit strategies or resale programs in place. In order to avoid timeshare resale scams, talk with the timeshare resort to explore potential options and ensure the best possible outcome.
Westgate created a program - The Legacy Program by Westgate - to assist owners in understanding available options for transitioning away from vacation ownership. It is our goal to provide safe and secure exit options for all qualifying accounts. The Legacy Program offers Westgate Resorts owners the ONLY Developer-guaranteed release option.
For additional information regarding The Legacy Program, please email us at Legacy@wgresorts.com. If you would prefer to contact us over the phone, please call 800-351-0461, Monday through Friday from 9 a.m. to 5 p.m. Eastern Time.
Looking for Related Information? Try These Topics...