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12/2/2009

Lexington, KY - If you own a timeshare, you may be interested in selling it if you don't use it much anymore or you're tired of paying the maintenance fees. But you need to watch out of companies who offer to help but only take your money….

Timeshare owners in central and eastern Kentucky have been calling your Better Business Bureau recently asking about companies that have contacted them from out of the blue, supposedly offering to sell their vacation time shares for them.

But your BBB warns you to watch out for too-good-to-be-true sounding offers. We've heard from some consumers who said someone called telling them they already had a buyer for their timeshare….and then asked the consumer for a fee to "close the deal."

It later turned out that the telemarketer had no buyer at all…but was offering to post the timeshare on some website…where it may or may not get sold.

In the end some owners have found that their timeshare did not sell and their fee was not returned despite any "money back" guarantee.

If you are considering reselling your timeshare and are approached by a company offering to help, the BBB recommends the following:
• Check out the company with your BBB.
• Ask if the company's salespeople are licensed to sell real estate where your timeshare is, and verify it with the state licensing board there.
• Ask about fees and timing. It's preferable to use a reseller that takes its fee after selling the timeshare.
• Don't assume you'll recoup your original purchase price.

If you are high pressured to pay a large upfront fee before you can check out anything, don't fall for it!

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Be a "Don’t Fall for It!" informant! If you have something to share you believe may be a fraudulent offer or scam, please let the BBB know! Call us at (859) 259-1008 or toll-free, 1-800-866-6668, or email us at info@lexbbb.com.