Arkansas Attorney General Dustin McDaniel has issued a consumer alert to warn timeshare owners about reselling scams.

Timeshares are a type of real estate, and consumers but them as investments. Because of this, consumers expected its prices to rise or remain study through the passage of time. Unfortunately, buyers did not realize that the marketing costs of the property would be significant in value. This makes it difficult for a timeshare to retain its value.

In some areas, timeshare projects are overdeveloped—resulting to depressed values and difficult resale. In these areas, owners are desperate to sell their timeshares. And scammers take advantage of this.

Scammers offer assistance to timeshare sellers with the promise to relieve them of the continuing costs of the ownership. However, in most cases, these promises are false.

Owners are advised to take note of the following before selling their timeshare, as posted at ArkansasMatters.com:

•    Beware of timeshare resellers who contact you unsolicited with a promise to help you resell your timeshare.
•    If they say they have willing buyers, it is probably a lie.
•    Never pay a substantial advance fee for resale assistance. A reputable reseller will charge a commission paid only upon sale, just like a normal real estate transaction. An advance fee may be called a "marketing fee," a "listing fee," an "Internet advertising fee," or something else. No matter what it is called, don't pay it in advance.
•    Get an independent appraisal from a licensed appraiser before agreeing to any resale assistance contract.
•    Deal only with licensed agents.