Mexican timeshare scam targets sellers, not buyers, of vacation properties

Usually it's the buying of a Mexican timeshare that requires caution, but Red Deer RCMP are now warning sellers of said timeshares to be wary.

Police said they have seen several instances of a scam in the area, whereby those looking to offload their vacation properties are targeted.

"Scammers approach the seller with promises that they have a buyer, or that they can help the seller to find one," said an RCMPmedia release.

"The scammers generally claim to represent a business, and may have a second person call the victim, pretending to be a lawyer for that business."

Red flag

One red flag to watch for is the scammers asking for up-front fees to cover closing costs, taxes, maintenance and other fees.

On April 21, the most recent incident, the scammerimpersonated an actuallawyer from the U.S. according to RCMP.

The scamoriginates in Mexico and police said there is little they can do once the funds are transferred out of the country.

According to RCMP,theCanadian Anti-Fraud Centre advises sellers of timeshares to be suspicious of any organization that:

• contacts you without an invitation, for example by cold calling
• asks you foranykind of up-front payment, for example a deposit or administration fee: alegitimate broker will not cold call you or charge an up-front fee
• says they have a buyer waiting to buy your timeshare
• asks you to send them your Ownership Certificate
• puts a lot of pressure on you to make a decision quickly
• asks for your credit card details but tells you they won't take any payment
• asks for any personal information, for example your bank details or address
• has a 1-900 prefixlegitimate companies will have a 1-800 number

Additionally, RCMP said to check with the Better Business Bureau to verify the history of a timeshare resale company, and search online for stories of those who have fallen victim to scams.

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