Beware of upfront fees when it comes to a timeshare resale.

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If you own a timeshare unit and plan to sell it soon, and want to use the services of a company that specializes in timeshare resales, here’s a very good piece of advice to keep in mind:

No up front fees! Ready to Sell? Create Free Listing

According to Timeshare World, “Never, ever pay for service before rendered. Do not pay anyone a fee in advance to sell your timeshare. This is the timeshare scam of the century and timeshare owners lose millions to it each year!”

Why is an upfront fee so risky? Don’t a lot of businesses ask for a small percentage of the eventual payment up front?

That doesn’t matter. When it comes to a timeshare resale, there are clear risks when it comes to paying up front fees if you plan to put your unit on the market.

Here’s how it works.

These resale companies advertise on television, in newspapers and on the radio. They also send out email advertisements to timeshare owners. If you call or reply to one of these ads, proceed very cautiously. There’s a good chance you’re setting yourself up for spending good money after bad.

“Virtually all of these so called Re-Sale companies just want to rip you off,” Timeshare World warns.

First of all, these companies will always tell you that your timeshare is worth much more than it really is. It sounds good when someone tells you that what you own is worth a great deal of money, but that’s just the psychological hook that these outfits prey on. Some of them even promise that if they don’t sell your unit, they’ll refund your money.

“If they are so confident that they can sell it, why do they want your money up front?” Timeshare World asks.

Good question. A legitimate company would wait to collect their fee until the item sells.

While any timeshare owner would naturally want to get as much money back as possible out of a timeshare resale, putting the unit on the market requires some good common sense.

Besides, there’s some good news for those who want to sell their timeshare …. for a reasonable price. There are plenty of other sellers of timeshare weeks out there, willing to make a good bargain or trade with someone who is realistic about their price and willing to negotiate with buyers who make reasonable offers.

When selling, remember to price the week, points package, or vacation club reasonably. Do some home work to find out what your particular timeshare has been bringing on the resale market.

If you do that, there’s a good chance your week or unit will sell within a reasonable length of time. Also consider advertising it on this web site, TimeshareMarketplace.com, for free.