Minnesotans warned of timeshare scam

The Minnesota Department of Commerce issued a warning Tuesday morning, November 19, regarding an ongoing timeshare resale scam. The department has recently received on increased number of complaints from victims of the scam.

According to the department, timeshare owners have been receiving phone calls or emails who claims to be a buyer or agent willing to buy the time sure at a high price, but then asking the owner to make an upfront payment for closing costs, taxes, or other fees. The owner is then asked to wire over funds until the sale is finalized. Following this, the scammer will continue to ask for more money claiming that additional fees have come up.

“Minnesotans who own timeshares need to be aware that scammers are using sophisticated schemes to trick you into paying money,” said Commerce Assistant Commissioner of Enforcement Jacqueline Olson. “Avoid upfront payments, check with legitimate sources, and if the offer sounds too good to be true, it’s probably a scam.”

To avoid being scammed, the Commerce Department advises to not pay upfront fees, to be wary of overeager buyers, to research the person or company wanting to buy the times share, contacting your timeshare resort directly, and to not provide any personal information over the phone.

If you believe you’ve been a victim of a scam, call 651-539-1600 and file a complaint here.