One couple, Doug and Armelita Stoddard, bought a one-bedroom timeshare for $15,000 in Napa Valley and rarely use it. When Doug was let go from his job, he searched online for ways to sell his unused timeshare so that he could use that money while looking for another job. After researching online, he hired AAA Timeshare Inc. to help him sell his timeshare. Within a couple of weeks, the company called Doug and told him that they had a buyer waiting to purchase the timeshare. The only thing Doug had to do was pay $3,000 to cover the paperwork and processing fees. However, once the company received the checks, Doug never heard from them again.
Doug commented, “They were so convincing. They had an answer for every skeptical question I had."
The couple lost $3,000 in addition to the $800 they still had to pay for yearly timeshare fees. If Doug had done a little more research, he would have discovered that AAA Timeshare Inc. has an F rating with the BBB as well as negative comments.
President of the Northeast California Better Business Bureau, Gary Almond, commented, “The minute (con artists) figured out time shares were worthless, up sprang these companies offering to find you a buyer.”
To avoid being scammed you must always be weary of companies who ask for an upfront fee. In most cases, these companies will use the term processing fee or paperwork fees. However, Transfer Smart hopes that timeshare owners are now more aware of the scams out there.