Mediaboss Marketing

SACRAMENTO, Calif.--(BUSINESS WIRE)--

The California Department of Real Estate (DRE) issued today a Consumer Alert about the growing number of scams being perpetrated against timeshare owners in connection with timeshare resales. DREs mission is to protect the public interests in real estate matters.

Given the economic strain many families are facing, timeshare ownership is a luxury some families can no longer afford, DRE Acting Commissioner Barbara Bigby said. And with so many owners wanting to divest themselves of their timeshares, it has created an opportunity for fraudsters.

The Consumer Alert issued by the DRE details the typical timeshare resale scams and provides tips on how to avoid them. Most scams involve a promise of a quick sale of the sellers timeshare interest in exchange for an upfront fee. However, after the fee is collected, little or nothing is done to sell the timeshare interest. But, as is the case with most scams, there are variations of timeshare resale fraud as well. The following are three of the most common fraudulent practices, according to DRE officials:

1. Unlicensed and illegitimate timeshare reseller fraudsters pose as legitimate and licensed real estate brokers, thereby providing a false sense of security, and then demand the payment of monies up front in connection with the purported resales. However, no services of any kind are actually provided.

2. Scammers falsely tell timeshare owners that the "agent" has found a "ready and willing" buyer for their timeshares. The scammer asks for listing or paperwork fee to effect the transaction, but once the fee is collected, the seller never hears from the company again.

3. Fraudsters pose as timeshare buyers and use such advertising slogans as Will Buy Your Timeshare for Cash, Timeshares Wanted, or something similar, to lure timeshare owners. The scammers then ask the owners for a small amount of money up front to process the paperwork for the transfer. Once those monies are paid, the owners never hear from the scammers again.

The following practical advice can help consumers from falling victim to a timeshare scam:

For a copy of the Consumer Alert and or more information about DRE, visit http://www.dre.ca.gov.

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California Department of Real Estate Warns Timeshare Resale Fraud on the Rise