Several days ago we were contacted by a worried timeshare owner. They had been solicited by online timeshare scam company Worldwide Timeshare Exchange, (WTE) www.wterus.com. WTE had managed to secure Resort Closings outdate closing and escrow paperwork and proceeded to use Resort Closings Inc. legitimacy company as a foil for their fraudulent operation. The seller was suspicious, after being offered $18,599.00 for her Orange Tree Vacation Resort Timeshare. Unfortunately, these timeshares only sell for about $1500.00 max – an incredible offer for timeshare should always be a red flag!
This type timeshare scam is becoming more common: a phony timeshare reseller such as WTE with a “legitimate” looking website will pretend to use a reputable timeshare escrow and closing company to accept the seller’s deposit on closing costs. In this instance, the scammers wanted $399 from the seller to begin the timeshare transfer. Had the seller agreed, the scammers would have collected the funds by providing their personal routing info, with the seller believing they were wiring their escrow payment to an accredited escrow firm.
For this particular scam, WTE was using dated closing documents (they had an old address listed) from Resort Closings Inc. RC Inc. is a premiere timeshare closing and escrow company in the USA that maintains an excellent rating with Trustpilot.com, citing hundreds of positive reviews from satisfied customers.
It’s easy to see why, in the digital age, timeshare owners have a difficult time ascertaining whether an offer they receive is valid or fake. The WST website looks professional and trustworthy, but it’s just an illusion. Anyone can create a website in 2018 and scammers are no exception. That’s why we created our toll free timeshare scam hotline.
Timeshare owners looking to get rid of their unwanted timeshare should A. never take an offer they didn’t solicit themselves. If you receive a phone call out of the blue with an offer to buy your timeshare for a large sum and all you have to do is send closing costs, hang up. B. Always verify a company’s credentials before sending money. Do they have third-party, online reviews from legitimate sources such as TrustPilot.com or Better Business Bureau? Check online timeshare forums like Tug2.net, what do other people have to say about their experience with this business?
Taking several hours to do due diligence could save you thousands of dollars. You can also call us, and we will, free of charge, review your offer and confirm whether you are dealing with an actual timeshare divestment company or a con-artist.
Resort Closings does not do any business with Worldwide Timeshare Exchange out of Los Angeles, CA.
Get more tips on how to spot dishonest timeshare resellers by visiting the Federal Trade Commission’s timeshare scam blog, click here.
Below is the correspondence WTE sent to the timeshare owner.