Unlicensed scammers claiming to represent full service property management, real estate brokerage or title and escrow companies that list and sell timeshares are soliciting upfront fees from timeshare owners who want to list their fractional ownerships for sale. The problem is that the timeshares are never actually listed for sale and the fees are gone eternally .
” We have received a upsurge of inquiries from consumers who have been contacted by a company that represents itself as R-5 Realty. R-5 Realty is not licensed by the real estate commission ,” said Mike Unthank, superintendent of the New Mexico Regulation and Licensing Department. Unthank went on to say that” Timeshare fraud is a serious crime, which can cost consumers thousands of dollars .”
LAS CRUCES – Selling timeshares without a real estate license is a felony in New Mexico, but that’s not stopping out-of-state scammers from preying on unsuspecting timeshare owners, according to a Feb. 23 bulletin from the New Mexico Regulation and Licensing Department.