This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Timeshare Scam Tips

Anybody who owns a time share should be cautious about falling prey to these scam artists. Before buying a timeshare or selling one, consider the following tips:

  1. No one legitimate is going to ask you to pay money up front to sell your time share. "When you sell your house, you don't shell out a bunch of money to the closing agent," Horn said. "The costs are covered in the proceeds of the sale. It's the same with a timeshare."
  2. If the offer sounds too good to be true, it probably is. "Never pay for a promise," Harwood said. "Get everything in writing first and pay only after your unit is sold."
  3. A legitimate company won't ask you to pay for a prize. Any company trying to sell you on a "free" vacation will probably want something from you, such as taxes and fees and attendance at mandatory timeshare presentations. Find out the costs before agreeing to anything.
  4. There's not a good market for used timeshares. "Timeshare owners who want to sell have lost interest or they're elderly and can't use them anymore," said Horn. "Some have health or financial problems and they view their timeshare as an investment to cash in but people don't pay as much for used timeshares."
  5. Before doing business with any company you don't know that texts, emails or cold calls, contact the state's Attorney General and the local consumer protection agency for a run down on complaints. Search online by entering the company name and the word complaints or scam to read what other people are saying.
2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $113.29 0.00%
FB $91.01 0.00%
GOOG $630.38 0.00%
TSLA $248.48 0.00%
YHOO $33.14 0.00%

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs