Do you know what a timeshare scam really is? Most people don’t. For starters, if your timeshare option gives you everything you need for your vacation needs, then your timeshare option was a good choice. It’s when timeshare options involve things like exaggerated offers, resale opportunities and cancellation programs that scams often arise.
False promises by timeshare sellers
For those who get invited to a timeshare presentation from a company with a positive reputation, the odds of getting false information about the timeshare are minimal. Why? Because you can always get information verified by upper administrative employees if needed. Good salespeople have that ability to entice you into buying things you might not otherwise buy. So, remain alert during the presentation by keeping in mind the amount you have decided upon spending. Don’t let an awesome presentation cause you to buy something you can’t afford. If you must start out small, do so. You can upgrade your timeshare options after you have selected a lower deal. Timeshare scams may take place if you purchase off-site, so always be sure to finalize any dealings at the resort where you are hoping to buy.
Maintenance Fee Timeshare Scams
A misunderstanding about maintenance fees is one area where people report timeshare scams. The problem arises from customers claiming they were never told about the maintenance fees. Although this could happen (but in rare occasions), the fees are still explained inside the contract the customer signed. All the customer must do is make sure they read their contract thoroughly to prevent making an erroneous claim about maintenance fees scam. And when you think about the rationale behind having regular maintenance, it makes sense to keep the property updated to prevent deterioration of the property. Let’s make it clear, maintenance fees are not timeshare scams!
The real timeshare scams
The timeshare scams that you need to be cautious of don’t happen at established timeshare resorts anymore because of tougher legislation regarding timeshare ethical practices. However, the timeshare issues that you should be cautious about are:
- Timeshare Cancellation Scams – People victimized by this scam eventually find out that they have no legal right to cancel the membership. So, the agency offering this service has taken their money, and their loan often defaults because they have stopped paying the membership fees.
- Timeshare resale scams – This issue involves buying a membership from another member. The agency offering this service fails to tell you that you may not have much time left on the membership (a year or less) or the account is not even real. If the offer does have some time left, the maintenance fees may be really expensive to cover outstanding invoices.
- Rogue Timeshare sellers – The encouragement to finish your timeshare deal outside the place where the presentation is being held is a sure sign of a scam in progress.
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