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Friday, September 10, 2010

Transfer Smart News: AG Delaney Warns Consumers When Selling Their Timeshare

As those owners trying to get out of their timeshares have become a favorite target of many scammers, Attorney General Michael A. Delaney warned that consumers should exercise caution when attempting to sell a timeshare through real estate brokers, agents and companies that specialize in reselling timeshares.

Meanwhile, Delaney also offered some tips to New Hampshire consumers. Even if the salesperson claims the local market is hot, or his or her office is overwhelmed with buyer requests, don't just agree to anything on the phone or online. It is safe to check out the reseller first. You may contact the Better Business Bureau or the Attorney General's office in the state where the reseller is located.

Also ask if any complaints are on file and ask for all information in writing. Find out if the reseller's agents are licensed to sell real estate where the timeshare is located. If so, verify it with the state’s real estate commission. Moreover, deal only with licensed real estate brokers and agents, and ask for references from satisfied clients. Ask how the reseller will advertise and promote your vacation property. It's better if the reseller takes its fee after the timeshare unit is sold.

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