Timeshare these days has a pretty clean reputation Most timeshare companies offer legitimate solutions for those seeking to get hold of a home overseas minus the gargantuan responsibilities that go with it. Sadly, there are some scammers out there who try to spoil all the fun, coming up with timeshare scams and deceptions that taint the reputation of respected timeshare companies. Everyone should be cautious of potential timeshare scams as becoming victims of these can mean loss of time, money and effort.
Before purchasing timeshare, take some time out of your day to read about the top 10 signs of timeshare scams. Be wise enough not to be fooled.
- Having to pay for your timeshare gift
The first warning sign of a timeshare scam is if you are made to pay for your timeshare incentive gift. Genuine timeshare companies encourage potential clients to attend a timeshare presentation by offering incentive gifts. 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.
- Not the resort you signed up for
The second most alarming sign that you are about to be involved in a timeshare scam is if you are taken to a resort that is not the same as advertized by your original agent. That is, you think that you are attending a presentation at a particular hotel, but then at the last minute your taxi driver takes you to a different place. Always insist on going to the location that you agreed to go.
- Offsite Offices
After your presentation, some timeshare 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.
- Contract to be sent in the post
Another sign you are walking into a timeshare scam if if you are encouraged to hand over money for your timeshare membership before you have seen, read or signed a contract. If the timeshare company hasn’t provided you with a valid contract, you are in a danger of finding yourself involved in a scam.
- Online scammers
Purchasing a timeshare resale online can pose a great risk due to the way that scammers can manipulate modern technology these days. Better to find out about the company you’re dealing with first; it can be your best protection against being scammed.
- Timeshare 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.
- Asking for Upfront Fees
A sure sign of a timeshare scam is when a company asks you for upfront fees. When the time comes and you want to rent or sell your timeshare, you will find a number of timeshare companies that offer their services for an upfront fee. As a rule, those timeshare companies taking commissions after the successful rental or sale of your timeshare are a better bet.
- Phone calls out of the blue
Receiving phone calls out of the blue offering to sell, rent or buy your timeshare is a good sign of a scam. If you have not approached a company for information regarding this, this kind of call is a sign of a potential timeshare scam.
- Upgrading or purchasing your old timeshare as down payment
It’s very unlikely that a true timeshare company can include an option of letting you trade your membership to one of their competitors, especially after the cooling off period. If you are offered this, it is probably a timeshare scam, so stay away from such offers.
- Being taken to a different venue
When someone introduced himself as a salesperson of a particular resort, but takes you to another venue with a different name during the timeshare presentation, it can be a tell-tale sign that you are heading into a timeshare scam. Always check the name of the resort where you are supposed to be heading.