National BBB Warnings Against Timeshare Industry Spreading Across The Country Like Wildfire

Several states have begun to see a rise in warnings by the Better Business Bureau as well as the Federal Bureau of Investigation. The warnings are aimed at the timeshare resale industry which for some time now has been scamming timeshare owners out of millions of dollars each year claiming they can sell their properties for upfront fees. The companies then claim they have a buyer ready and waiting to purchase, needing more fees paid to cover the closing costs, or they will list the property for a fee. However, these are all false promises. The vast majority of the times, the companies do not have buyers waiting to purchase the timeshares, and although they list the property online; it will remain on their listing for a very long time without seeing even the slightest bit of interest from potential buyers. 

In 2011, there had been over 2,600 complaints made to the BBB nationally in regards to timeshare resale companies. By January 2012, an additional 200 complaints had been made.  The complaints vary from unavailable dates to schedule guests stays, management, and the icing on the cake would be the complaints made about the companies who collected money to cover fees never to be heard from again. 

It is advised that when you are contacted by companies who are asking for upfront fees in order to sell or list your timeshare property, to stay away. Companies looking to offer their legitimate services to get you out of your timeshare contract will more than likely not request any upfront costs to be covered.  Transfer on the Spot is not a resale company, and will not require upfront fees in order to get owners out of their timeshare contracts. If you are tired of paying outrageous maintenance fees and special assessments, contact Transfer on the Spot today.