Timeshare Scams
TIMESHARE SCAMS TARGETING SELLERS
BEWARE of companies; who cold call you, reputable resale agents will not call you unless you have previously contacted them. Be safe, only deal with OTE members.
BEWARE of companies; who say they can sell your timeshare for the price you paid. Most resale weeks achieve 25% at best of the original price charged by the developer. The high cost of developing and marketing is built into the price you paid which can amount to at least 60%.
BEWARE of companies; who ask you for up front payments for anything other than bona fide advertising. Most reputable companies will charge their fees to the ‘buyer’ not the ‘seller’, make them earn their money.
BEWARE of companies; who tell you they have a confirmed buyer who has agreed to pay well above the resale market price as described above. Why would they when they can pay a fraction of the price from a reputable resale agent?
BEWARE of companies; who tell you the buyer will only buy face to face usually in Spain or Tenerife and they will pay the cost. A free holiday with the bonus of selling your timeshare IS TOO GOOD TO BE TRUE. You will be pressured into “part exchanging” into a Holiday Club which sounds very plausible. In reality you will have paid several thousand pounds for a concept that does not work and you may well end up with two timeshares that you do not want.
BEWARE of companies; who say you need to pay; Spanish Taxes, Spanish Registration fee, Documentation fee etc, etc.
SCAM OPERATORS ARE VERY GOOD AT THEIR WORK.
YOU CAN BE DUPED BY THEM REGARDLESS OF HOW STRONG YOU BELIEVE YOU ARE
BE SAFE!! ONLY DEAL WITH OTE MEMBERS