What are the common timeshare scams? A guest post by Jonathan Lewis from My Vacation Rentals

This is a guest post written by Jonathan Lewis at My Vacation Rentals. If you enjoy this post then make sure to check out their site.  He has some great information on timeshares.

Unfortunately, the timeshare industry experiences a lot of fraud and scams as many people prey on owners who want to get out of their timeshare at any cost or those who follow the allure of free gifts.  You need to be vigilant and here is some good information on what to look out for.

What are the Common Timeshare Scams? 

It seems that many people see timeshares as a scam when in reality the scheme is a genuine offer and can be an excellent vacation investment if the model suits your vacation habits.  However, many have been ripped off have had the unfortunate experience of meeting with a deliberate fraud.  Buying with a reputable timeshare company with a long record will keep you safe from being scammed.  

Below find the common Timeshare Scams

• Resale phone calls: Beware of any unsolicited phone calls from agents claiming they have found you a buyer for your timeshare. If you are not looking to sell, this is probably a scam. You will be expected to pay for the details of the buyer who mysteriously never answers your calls.

 

• Gifts with a Catch: A warning sign of a timeshare scam is if you are made to pay for your timeshare incentive gift. Genuine timeshare companies will not make your pay for these gifts, unless they come as a discount for something like a restaurant or tour, in which case you will pay the remainder.

 

• Trade in Timeshare Scam: Sometimes people are tricked into buying a second timeshare or joining a timeshare points scheme on the premise that the timeshare company will sell the old property. If you are offered this service, is very likely is a scam and you will end up being responsible for 2 timeshares.

 

• Offsite Offices: After your presentation, some scammers may take you to a different office away from the resort that you have viewed to prepare your “timeshare contract.” You may even be offered a cheaper deal there to encourage you to sign. This kind of behaviour is sure to be a scam. You will find that you hand over cash and then be left with a fake timeshare membership at a non-existent timeshare resort.

 

• Companies claiming to cancel your timeshare:  There are timeshare scam companies that will tell you that cancellation after the cooling off period is possible with a fee. Remember that this can’t be done, and most likely you’re dealing with a fraudulent timeshare company.

 

• Upfront Fees: A sure sign of a timeshare scam is when a company asks you for upfront fees. As a rule, those timeshare companies taking commissions after the successful rental or sale of your timeshare are a better bet.

Thanks again to Jonathan Lewis and his team at My Vacation Rentals for posting this information.  Fraud and scams are prevalent in many areas so knowing some quick red flags can help you avoid getting tangled up in any unwanted transactions.  

Make sure to check out My Vacation Rentals for additional information on timeshares.