LEXINGTON, Ky. (WKYT) - If you're thinking about selling a timeshare, be on the lookout for scam artists trying to convince your to sell your place through them. If you do business with them, you'll lose in the end.
Katina Pendleton lost thousands in at time share resale scam.
"It's awful, just awful and I do believe what goes around comes around and they are going to get it and it's going to come back to haunt them," says Pendleton.
A company promising big results called Pendleton and asked if they could sell her timeshare in St. Thomas. She agreed. Then, she got another call.
"She said 'I have a buyer for your timeshare. She's sitting right here. Blah, blah, would you like to talk to her,'" says Pendleton.
Initially, Pendleton was thrilled. She was eager to sell her timeshare. The person posing as a sales agent and asked for money.
"In order to get this transaction to go through we would like you to wire me $1000 dollars," says Pendleton.
Pendleton went to the bank and wired the money for what she was told were closing costs.
"They sent me the fake contract. Never heard from them again," says Pendleton.
Postal inspectors say this scam is on the rise in a challenging economy.
"The timeshare resale scam is a fraud perpetrated on a lot of elderly people looking to sell and get rid of their timeshares," says U.S. Postal Inspector Kathryn Scarles.
Thousands of people have lost everything.
"It's really hard when you see someone lose their life savings. These scams are so convincing and they are so realistic sounding and sound legitimate that a lot of smart people get duped," says Scarles.
Pendleton says she can't believe people would scam others for a living.
"We've been brought up to be really honest and good people. There is something missing in them, they have no conscience, they don't care. they are after the money, the money is the main thing," says Pendleton.
Pendleton eventually sold her timeshare. The best advice is to do your homework before you send money to anyone.