BBB Warning: Scam Tempts Timeshare Owners with Great Prices

Better Business Bureau (BBB) is warning consumers about a timeshare scam that lures victims by offering lucrative prices for those reselling a property. The scam uses the name and address of Resort Network Services LLC, which claims to be based in Raleigh, N.C. However, an investigation by the BBB serving Eastern North Carolina revealed that the real Resort Network Services dissolved in 2009.

The scam company is targeting people throughout the United States and Canada who are looking to resell a timeshare property. Targets were asked to wire thousands of dollars to Mexico under the guise paying “title fees,” “transfer fees,” “foreign investment fees” and other phony charges.

The BBB of Eastern North Carolina originally became aware of the scam when a consumer contacted them about the company, assuming it was based in their area. Since then, BBB has received several Scam Tracker reports about the con. Among these is a report from a woman in Canada who lost $15,000 to the scammers.

Timeshare sales scams are common, and con artists sometimes operate under the names of defunct, but legitimate, companies. In 2016, BBB Serving Canton Region & Greater West Virginia investigated a similar con that used the name of Ohio-based Resort Owners Services LLC, which went out of business in 2012.

For more information about spotting and preventing vacation scams, check out the BBB Tip (bbb.org/travelscam).

Anyone who has encountered a timeshare sales scam (whether or not they have lost money) is urged to report it to BBB Scam Tracker at bbb.org/scamtracker.

Rebecca is the Communications Supervisor for BBB serving the San Francisco Bay Area and Northern Coastal California. She works to advance BBB’s vision of an ethical marketplace where buyers and sellers can trust each other. She does this by developing content such as blog posts, press releases, newspaper columns, and PSAs to educate businesses and consumers. Rebecca also represents BBB at community events.

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Posted in Consumer Tips, Consumer/Business Services, Credit - Mortgage - Payments, Scams

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