Today, the American Resort Development Association (ARDA) released a coupled of advisories to aid consumers and timeshare owners in navigating through the resale market, which includes timeshare resellers, internet advertisers, as well as other resale companies.

The advisories are meant to create a secure and positive selling experience. These advisories will help dispel misinformation and confusion regarding the timeshare resale market by providing tips on how to review timeshare resale companies.

Due to the credit crunch, many disreputable companies are resorting to fraud in order to take advantage of timeshare owners who want to sell their property. In the past months, there have been several complaints from the state attorney general regarding timeshare resale scams. That’s why ARDA feels like it has to step in to help address the problem.

“This is not an indictment of our reputable resale company members, but rather a problem faced by everyone who loves this industry being painted with the same 'timeshare scam' brush,” explained ARDA president and CEO Howard Nusbaum. “We continue to work with stakeholders to craft what we believe will be guidelines for best practices and legislation.”

"It's simply a matter of buyer beware,” added Cindy Thomas, a resort manager from Stoneridge.

She continued, “With the state of the economy today, a large number of our owners are being approached by a variety of companies, with offers of previously unheard of rental revenues or resale prices, and even just ‘getting out from under’ one's timeshare week. Many of these offers are hard to understand, even for the savviest of timeshare owners. Unfortunately, we have heard from many owners who were dissatisfied with the end result of these transactions and little can be done about it after the fact. As always, if a deal sounds too good to be true, it just might be. Be aware and be diligent. Do your own research and check with your own timeshare resort association before doing anything.”

The first consumer advisory centers on timeshare reseller types, while the second provides tools that evaluate timeshare resale companies.

Source: HotelsMag.com