Ever felt like your vacation could pay for itself? That’s the dream timeshare owners buy into—only to find out that getting rid of one can be harder than escaping quicksand. And when desperation kicks in, scammers step in, ready to take every last dollar.
A High-Stakes Scam That’s Costing Victims Millions Timeshare resale scams are on the rise, leaving victims out hundreds of thousands of dollars. A fake company, Intercontinental Realty, has been luring owners into promises of profitable sales—only to disappear with their money. The scam has already cost victims over $4.3 million, and the FBI warns it’s funding criminal organizations.
How It Works: The Trap Unfolds
- The Bait: Scammers pose as a reputable real estate company and call timeshare owners, claiming they have buyers ready to pay big bucks.
- The Hook: They promise massive profits—sometimes in the millions—making the offer irresistible.
- The Fees Begin: Once a victim agrees, scammers demand upfront costs for “processing fees,” “legal paperwork,” or “international taxes.”
- The Disappearance: After collecting thousands—sometimes hundreds of thousands—the scammers cut off contact, leaving victims with nothing.
Who’s Being Targeted?
This scam primarily preys on:
- Timeshare owners desperate to sell
- Elderly individuals who may be less tech-savvy
- Those with significant financial assets who are drawn in by promises of large payouts
A Real-Life Nightmare:
Losing Everything Victims across the U.S. have been left devastated. One man lost $206,000, while another family saw their entire savings vanish. Private investigator Joe McGreal, who has been tracking this scam for years, estimates that his clients alone have lost over $4 million. The worst part? Many victims reported the scam to the FBI but have yet to receive any help.
Why You Should Care
Scams like this don’t just drain bank accounts—they destroy lives. Some victims have lost homes, retirement savings, and financial security. And with authorities slow to act, scammers continue to thrive.
How to Protect Yourself
- Never Pay Upfront Fees – Legitimate timeshare sales don’t require upfront payments.
- Verify the Buyer and Company – If you get an offer, research the company, read reviews, and check official records.
- Beware of Unrealistic Promises – If the offer sounds too good to be true, it probably is.
- Consult a Professional – Seek advice from a licensed real estate expert before making any commitments.
- Report Suspicious Activity – If you’ve been targeted, file a complaint with the FTC, your state attorney general, or the FBI’s Internet Crime Complaint Center (IC3).
Quick Tips & Updates
- Quick Tip: Did you know? Timeshare resale fraud is one of the fastest-growing scams in the U.S.
- Pro Tip: If you’re considering selling a timeshare, contact the resort directly or use a licensed real estate agent specializing in timeshares.
Stay safe, stay informed.
Keyword Definitions:
- Timeshare: A vacation property with shared ownership, where multiple people own the right to use it at different times of the year.
- Upfront Fees: Payments required before services are provided—often a red flag for scams.
- Social Engineering: Manipulating individuals into divulging confidential information or making payments under false pretenses.
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