Timeshare & Real Estate Scams

Timeshare and real estate scams often target seniors by offering fraudulent opportunities to buy or sell vacation properties or promising investment returns in real estate ventures. These scams can involve con artists who claim to have eager buyers for your timeshare or real estate property, but before the sale can proceed, they ask for upfront fees to cover taxes, legal fees, or even foreign government levies. The scammer may use official-sounding documents or professional-looking websites to make the deal seem legitimate, but once the money is paid, the buyer or the sale never materializes.

In more elaborate real estate scams, the fraudster may pose as a foreign buyer, claiming that taxes or government processing fees in their country need to be paid before the deal can be finalized. They might also suggest that certain legal fees must be paid immediately, claiming that the sale will collapse if the funds aren’t transferred. These costs are often presented as non-refundable, and the victim is pressured to make the payment quickly to avoid losing the sale.

You receive an email or phone call from someone claiming they have a buyer for your timeshare or real estate property. The offer sounds attractive, and the buyer is supposedly ready to close the deal. However, before the transaction can be completed, the agent or broker tells you that taxes or foreign government fees must be paid upfront to finalize the sale. They provide official-looking invoices or documents to justify the costs. They might also claim that legal processing fees are required in advance to expedite the transaction. Trusting the offer, you send the money, but afterward, the buyer disappears, and you never hear back from the so-called agent.

• Upfront Fees for Taxes or Government Fees: Scammers often claim that taxes, foreign government levies, or other administrative fees need to be paid before a sale can proceed. In legitimate transactions, such fees are typically deducted from the proceeds of the sale rather than being paid upfront by the seller.
• Untraceable Payment Methods: Be wary if the agent or buyer requests payment via wire transfer, cryptocurrency, or prepaid cards. These payment methods are often used by scammers because they are hard to trace.
• Promises of Quick Sales or High Returns: Scammers often promise a quick sale or guarantee high returns, especially with real estate that is difficult to sell. Timeshares, for example, are notoriously hard to resell, so be cautious of anyone claiming they have a ready buyer.
• Pressure to Act Quickly: Fraudsters often create a sense of urgency, claiming that if you don’t pay the taxes or fees immediately, the buyer will walk away or the deal will fall through.
• Lack of Physical Meetings or Documentation: If the buyer or agent avoids in-person meetings or refuses to provide verifiable documents, it’s a strong indicator of a scam. Always request to see legal paperwork and verify the buyer’s identity and the agent’s credentials.
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Additional Warning:
Always consult a real estate lawyer or licensed professional before agreeing to any real estate deal that involves upfront fees. Legitimate agents will not ask you to pay taxes or fees in advance; these costs are usually deducted from the proceeds of the sale. Be wary of foreign buyers who claim that government fees must be paid upfront—this is a common tactic used by scammers.