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7 Real Estate Scams to Watch Out For

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1. Timeshare Resale Scams
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Photo credit: © iStock.com/senaiaksoy

Timeshare owners often have a difficult time selling their vacation homes, especially if they’re located in areas that people don’t normally travel to. And on average, timeshares are sold for a small percentage of their original purchase price.

In your desperation to part ways with your timeshare, beware of resale scams. Fraudsters often reach out to timeshare sellers, claiming that they can track down buyers or sell the properties in exchange for a fee. The scammers then disappear with their pay, leaving the sellers without any potential buyers. Or they say that they need more money in order to reimburse whatever the seller lost initially.

Before you allow someone to arrange the sale of your timeshare, it’s best to check into their background and make sure they have the credentials to assist you. Any mention of upfront fees or wiring money should be considered red flags.

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