Many timeshare owners come to the realization that it can be difficult to sell their timeshare. Maintenance and special fees can push these sellers into desperation. There are, unfortunately, predators who would like to take advantage of these desperate sellers.
One of the more common scams is the appraisal fee scam. There may be different variations but they are all similiar to the following:
On the surface the scam appears to be legitimate. One could argue the appraisal came in too high and the firm was not interested in following through with the purchase. So what is wrong with this picture? The “investment firm” is not interested in purchasing the timeshare, in fact the firm has probably never purchased a timeshare. The goal of this scam is for the seller to purchase a $500 (or more) appraisal from a company that may or may not be qualified to perform an appraisal.
These scams can be very successful. In some instances the scammers have made millions. These scams can be followed by following one simple rule: never pay up-front fees to sell your timeshare. These scams are tricky because the up-front fee is an appraisal, a procedure that is commonly associated with a sale. The warning sign here is the pressure to use specific appraisal companies.
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