Unfortunately, the Mexico timeshare industry has gotten a bad name and reputation over the years because of Mexico timeshare scams that have occurred to some unfortunate people. The good news is that the majority of Mexico timeshares and their offers are genuine. You can keep yourself from becoming a Mexico timeshare scam victim. We have provided the top tips and tricks of Mexico timeshare scams below so you can protect yourself.
Mexico Timeshare Sales Pitch
If you encounter a fierce sales pitch, then you should know that this is one of the biggest signs of a Mexico timeshare scam. Potential victims are offered discounted meals, tours, prizes, and big incentives just to attend a sales presentation. Some Mexico timeshares have even offered free vacations and cars to get potential victims to attend a sales presentation. If you do attend a presentation you should make sure that you read the fine print to make sure what you are being offered incentives that are actually available. If you are asked to pay a fee to become eligible, then you should know that this is another popular Mexico timeshare scam, and another common scam is when the scammer convinces you to purchase a new timeshare, but they are actually selling an old timeshare. You will not realize you have been involved in a Mexico timeshare scam until you see that you are stuck paying for two timeshares instead of one.
Never, Ever Sign Urgent Contracts
Once you know how to identify a Mexico timeshare scam, it will be easier for you to spot the timeshare scams and fierce sales tactics that go along with a Mexico timeshare scam. The agent may offer you a very large discount with the timeshare purchase, but in order for you to get this discount you must sign the contract immediately. Anytime the agent has an urgency for you to sign a timeshare contract, it should be a warning sign to avoid this agent. Sometimes the agent may even go after your ego by suggesting that this amazing timeshare deal isn’t exactly right for you. This is a common reverse psychology tactic that often works and innocent victims will sign the contract.
All Paperwork Should Be Read
All paperwork should be read thoroughly, and if you can have a lawyer read the paperwork for you before you sign is an excellent tip. Before you sign the contract you should go to the property first. You should never purchase a Mexico timeshare before you see the property. Websites and pictures will not show you exactly what the property looks like, which is why you should see the property first hand. Another very important topic that you should know about is the maintenance costs. Make sure the maintenance fees are addressed in the contract. If a timeshare has not been built yet or is still under construction you should wait to purchase it because many times the financing falls through and victims are stuck paying for a Mexico timeshare that they will never enjoy. Especially in foreign markets you should consider using an escrow company. The escrow company has the experience to deal with the buyer and seller’s exchange of money.
You have just read the top Mexico timeshare scams and what you need to know about them. Remember to never sign any contract on demand and always read through the contract before you sign it. If the agent is too pushy and offers many enticing incentives you should tread with caution. Take enough time to carefully think through any important decision. Once you have everything written in the contract you can successfully purchase a Mexico timeshare vacation property that is genuine, and avoid becoming a Mexico timeshare scam victim.