Timeshare Scam: How to Spot and Avoid Them

TIMESHARE SCAM How to Spot and Avoid Them

Timeshare scam: Selling of timeshares is not always fruitful. People are unsuccessful majorly due to the fact that the market is overwhelmed and it doesn’t matter how tight it is, any financial deal can encounter the possibility of loss. At such times, an unexpected offer from a “timeshares reseller” claiming to provide an immediately remunerative deal is hard to counter, right? Not just you, the scammers also know this. Learn how to spot and bypass some common forms of a timeshare scam. 

Non-requested Mails/calls: 

Mails that are not requested, calls that you did not anticipate can always be tempting in times of distress. But don’t be fooled. These are subtle methods used by scammers to get a hold of your finances. Initiating contact is not bad but cautious moves are a mandate in every relationship. Always be on a lookout for complete transparency in the online advertisements that the 

Requests for payments upfront:

If anyone asks for permission to sell you timeshare and also claims that he or she already has a buyer, and only needs you to pay the taxes as an upfront fee, never get inside those calls. The scammers are naturals when it comes to conning people on the basis of what they say.  Victims are often tricked into thinking that they are talking to someone legitimate. If the offer is real, then money should only be talked about after the deal is over, not anywhere near when it has not even begun. 

Impulse Tactics:

Scammers will most of the time use language like the offer is available for a limited time only and it is imperative for them to act immediately or else, they will miss an ultimate opportunity. Such tactics give the scammers a chance to take the money out of your bank account once you begin making rash decisions and stop backtracking the information that the scammer gives out. 

Refund Scam: 

The cherry on the topping, this timeshare scam is when you have already been scammed and another scammer wants to make more money out of your misfortune. Refund scams are known to be the worst in terms of emotions. 

Imagine being scammed once, then seeing a ray of hope in some agency that makes you believe that the money that you just lost will be back. What happens is, the original scamster will share your details with another scammer and that scammer will pretend to be someone from the government. Always remember, no government agency will EVER call you and ask for the sensitive details of your personal accounts. 

When the so-called government employees say that they will file a class-action lawsuit against the scammers, it is best that you do your own independent research before you share anything with an anonymous caller.

Let us look at some of the ways to avoid any Timeshare scam. 

Do your research.

Understand the value of your timeshare. Get assistance from a certified service provider to help you. There may be restrictions with the buyback programs that your homeowner association may provide but they can always be of great help. Read the whole contract before you enter it so that you know the rights and all the obligations you are obliged to and clearly understand the cancellation rights provided to you. 

Consider working with a reputed sales company.

Look for firms that have good track records in successfully reselling timeshares. Contact a local agency to verify all the claimed licensing statements. Go online and look out for company reviews.

Make sure you get everything in writing.

Always make sure that the points that were promoted and advertised to you, are also presented to you in legal documentation. Before you sign any such document, always take time to understand what it is all about. In general scenarios, it should always verify what was presented to you in the verbal format. These documents should include all the breakdowns in a  clear format. If you have problems understanding the contract, do not hesitate to contact an attorney that can help you understand everything. 

If you fall victim to a Timeshare scam, report it immediately.

If anything you think is suspicious and has happened to you, report it to us and we will try and make the best out of any possible situation for you. Such practices help the state to learn about new scammers and help the traders to build themselves in a better sense. You can also file a complaint with the state or the local consumer forum. These agencies are sworn in to protect the clients and client funds. You can contact our team.

Related Articles