First of all, there needs to be some clarity on what makes a timeshare scam because many people use the term mistakenly for things that do not apply to their timeshare purchase. If your timeshare option is providing what you need for your travels, then your option benefitted you. A real timeshare scam will have as its central motive the getting of your money. These scams will show up in the form of renegade timeshare sellers, timeshare cancellation deals and timeshare resale deals.
When Timeshare Sellers Make Exaggerated Promises
If you attend a timeshare presentation with an authentic timeshare resort agency, you won’t encounter many chances of hearing false promises or timeshare scams. But, if you are uncertain if your salesman is being honest in the offers he or she is making, you can always request to see a supervisor (which helps them keep track of personnel that may be exaggerating timeshare benefits). Most people have the luxury of being at a timeshare presentation from a resort agency worth getting involved with. But, even in that case, you should always keep your head and not invest outside of your price range. Just because the presentation is spectacular doesn’t mean you should go above a price you can afford. So, start simple. You can always get a higher price membership with extra benefits later.
Timeshare scams and maintenance fees
Sometimes, people will mistake the idea of having maintenance fees as a timeshare scam. They will claim that the maintenance dues were not mentioned when offering the timeshare. Even though this may be true (although should rarely happen if you attend the orientation), the details of the maintenance fees can be found in all contracts people sign when they accept a timeshare. Also, one must keep in mind that maintenance helps keep your property up-to-date on needed repairs so the place always stays in shape for living.
The real timeshare scams
Most people will agree that it’s rare to get caught in a timeshare scam while at a timeshare presentation. That’s because there are stricter rules that have curtailed a lot of practices that were unethical in the timeshare industry. However, the real scams often involve the following scenarios:
Rogue Timeshare sellers – Any seller trying to get you to complete your offer at a location other than the place where you had the presentation is a potential fraud.
Timeshare resale scams – the purchase of a timeshare membership someone else once owned is usually a scam. In most cases, the membership either only haws one year left or no time at all. And for those that do have time left, the maintenance fees may be high.
Timeshare Cancellation Scams – Legally, you cannot cancel your timeshare membership, and any company offering this service is just taking you for your money. If you believe it and stop paying your membership fees, your loan will default.
What is your experience of timeshare scam?