A crackdown on timeshare resale fraud (HB 1001)

<b>What were resale companies doing?:</b> Attorney General Pam Bondi said that her office receives numerous complaints about companies that solicit business by telling timeshare owners that they have a buyer already lined up and then ask for a fee up front. The buyer frequently never materializes. The new law would require resale agents to fully disclose their terms, ban them from collecting a fee until a signed contract is in place, and prohibit them from saying they have an interested buyer unless they can provide contact information for that person to the owner.

( Carline Jean, Sun Sentinel / March 3, 2010 )

What were resale companies doing?: Attorney General Pam Bondi said that her office receives numerous complaints about companies that solicit business by telling timeshare owners that they have a buyer already lined up and then ask for a fee up front. The buyer frequently never materializes. The new law would require resale agents to fully disclose their terms, ban them from collecting a fee until a signed contract is in place, and prohibit them from saying they have an interested buyer unless they can provide contact information for that person to the owner.

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