The Arkansas Attorney General’s Office is warning anyone interested in purchasing timeshares to be cautious of unsolicited calls seeking business or resellers requiring an upfront fee.
Attorney General Dustin McDaniel issued a customer alert warning consumers about unscrupulous timeshare resellers who attempt to take advantage of consumers. He says because of the depressed housing market in the past few years, some timeshare owners have decided to sell, largely because the cost of their investment continues to increase. A timeshare is real estate in which an owner buys the right to use the property for a designated period of time. Almost all timeshares are located at popular vacation destinations and they are typically condominium units that have multiple owners.
The Federal Trade Commission says consumers who are considering purchase of a timeshare should visit the resort to evaluate its quality and talk to other timeshare owners. Research the track record of the seller, the resort developer and management company. Never act on impulse or under pressure. All promises and representations made in a sales pitch should be made in writing.
For more information about timeshares and call the Attorney General’s Consumer Protection Division at 800-482-8982.