Common Timeshare Scams
November 22, 2013
Before going into the details about some of the most common time share scams, it should be stated that time share as a concept is not a scam, rather there are dubious companies out there profiting in a fraudulent way from the guise of time share. In fact, time share can be an excellent investment if the model suits your vacation habits; therefore it is important to remember that if you buy with a reputable company with a great track record, there is very little chance of running into a scam.
Resale phone calls
Beware of any unsolicited phone calls from agents claiming they have found you a buyer for your time share. 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
To make time share presentations attractive, all operators offer incentives which are usually genuine. However, if the incentive seems too good to be true, then it probably is just that! Some deliberate scams make you pay a high fee to have your free gift delivered and sometimes you simply never receive it if you don’t buy a time share.
Time Share Properties that Never Get Built
Another scam that can cost a lot of money and heartbreak is the pre-sale scam that encourages you to buy a property that has not yet been built. You hand over your money based on the prospect of your dream second home, but it never gets built or the company goes bust. The way to avoid this type of scam is to research the time share developer before even attending a presentation. The genuine companies will be obvious, even with a quick on line check.
Trade in Time Share Scam
Some people are tricked into buying a second time share or joining a timeshare points scheme on the premise that the time share company will sell your old property. If you are offered this service, you are very likely being scammed and you will end up being responsible for two timeshares. The genuine option you have is to add your time share to a vacation club and begin to exchange it for other destinations.