Timeshare Owners Warning: Be Wary of City Resortsby Nick LaFleur on Sep. 14, 2011, under alert, Life, scam, Tips
Better Business Bureau of Southern Arizona is warning timeshare owners who are trying to sell or rent their timeshares to beware of Las Vegas-based company, City Resorts.
City Resorts has been the subject of 23 complaints from around the country since March 2011 and holds an F rating with BBB for failing to respond to complaints.
Complainants allege that City Resorts contacts consumers stating they’ve found a buyer for their timeshare. Complainants are then told to send a cashier’s check between $2,000-$6,000 for closing costs or processing fees. Complainants report that no buyers or renters emerged, and customers were unable to get responses to calls or their money back.
“After City Resorts got my money, I never heard from them again,” bemoaned a consumer from Massachusetts who lost $2,000. “They completely fooled me into believing I had a buyer for my timeshare.”
BBB representatives confirm that the phone number, website, and email have been disconnected and the current address is a mail-drop. Nationwide, BBBs processed 2,804 complaints on timeshare resale services in 2010.
“Timeshare owners who want to sell or rent their timeshare should be wary of timeshare resale services that pressure customers to pay thousands of dollars up front, claiming that buyers are at hand,” said Kim States, BBB President. “Too often, the companies don’t deliver and customers can’t get refunds.”
BBB offers the following advice to timeshare owners who are looking for help in selling their timeshare:
Check out the business – You can check out a business at www.tucson.bbb.org. BBB Business Reviews include basic information, complaint overview, and BBB ratings from A+ to F, along with the reasons for the rating.
Confirm location and licensing –Confirm where the company is located and in what states it does business. Ask if the company’s salespeople are licensed to sell real estate where your timeshare is located and verify this with the state licensing board.
Get the facts on the figures – Find out if the business charges a commission. Do they handle the entire closing and provide escrow services? Do they charge an up-front listing or advertising fee? What does it cover and is it refundable?
Be wary of upfront fees –Consider opting for a company that offers to sell for a fee only after the timeshare is sold.
Don’t fall for the hard sell or an offer that sounds too good to be true – Don’t agree to anything over the phone but instead ask the salesperson to send you written materials; take the time to think it over and don’t be pressured.
For more consumer tips or to check out a business or file a complaint with BBB, start at www.tucson.bbb.org.