Timeshare resale buyer - is it a scam?

Ask the Timeshare Crusader / August, 2012

We were recently approached by a buyer interested in purchasing our timeshare. He sent us a check for $3,900 to hold our timeshare, but asked us to keep $2,900 and send a $1,000 check to his broker. Something seems fishy to me. What do you suggest?

It seems that the timeshare resale scammers are some of the most wily operators out there. The most notorious timeshare scam is the: "I have a buyer for your timeshare, so I'm going to send you a check and you only send me $1,000 back." scheme.

I have two words of caution: STAY AWAY. Your immediate reply to these type of schemes should be, "No".

Let me be blunt here. I can't imagine that anyone would fall for this if they were selling a car or a house. The initial check that the "buyer" or the "buyer's representative" sends is worth nothing; likely a fraudulent cashier's check or money order. But, the check that you send for $1,000 is real and now you are out the $1,000 and will probably get hit for the bad check fee. And of course you still have the timeshare.

No legitimate buyer will operate this way. Before you do anything involving timeshare buying or selling: stop, take a deep breath, wait at least a day or so, and think it through.