Columbia, SC (WLTX) - The Better Business Bureau is warning people about a company that is contacting people about timeshares.
In a release, the BBB warns the public about Columbia Resort Sales. According to the BBB, the company claims to be located at 4710 Forest Drive; however, that address is the location of a restaurant.
The BBB says the company is contacting people who own timeshares around the country and telling them that they have a buyer for their property.
According to the agency, Columbia Resort Sales calls the owner and offers up to double what the person originally paid for their timeshare, and requests a payment of $280 to be sent by wire covering "transfer fees and closing costs."
When owners later tried to reach out to the company, their phone calls and emails went unanswered, BBB officials said.
Columbia Resort Sales has an "F" grade with the BBB, the lowest grade possible.
The BBB recommends you never send a wire transfer to an unknown company. They offer the following tips.
- Ask the salesperson for all information in writing.
- Ask if the reseller's agents are licensed to sell real estate where your timeshare is located (verify this with the state's real estate commission), and get references.
- Ask how the reseller will advertise and promote the timeshare unit. Will you get progress reports? How often?
- Ask about fees and timing. It's preferable to do business with a reseller that takes its fee after the timeshare is sold, but if you must pay a fee in advance, get refund policies and promises in writing.
- If you want an idea of the current value of the timeshare, consider using a licensed timeshare appraisal service.
- Before you sign any sort of contract, make sure you get the details of its terms and conditions. It should include the services the reseller will perform; the fees, commissions, and other costs you must pay and when you must pay them; whether you can rent or sell the timeshare on your own at the same time the reseller is trying to sell your unit; the length or term of the contract to sell your timeshare; and who is responsible for documenting and closing the sale.