Many people have a bad impression of Mexican timeshares and Mexican timeshare scams have occurred to some individuals over the years. Although there are always bad companies out there looking to take advantage of innocent consumers, the truth is most Mexican timeshare companies are legitimate and trustworthy and offer a valuable product. Here are some tips on how you avoid putting yourself as risk so a Mexican Timeshare Scam won’t happen to you.
Sales approach is too rough
The most obvious indication of a possible Mexican timeshare scam is when their salespersons are overly rough and aggressive in their approach. You may feel overwhelmed or cornered by these high energy individuals who are bombarding you with information in an uncomfortable way. A way to lure innocent victims into falling prey to a Mexican timeshare scam is that they offer incredible prizes and incentives that cause people to go against their instincts. Make sure that you do not get caught up in the excitement and thoroughly read through any documentation that is shown to you regarding a timeshare to prevent you from falling victim to a Mexican timeshare scam. Note that if an up front fee is required in order to become eligible for the timeshare, this is almost certainly a sure sign of a Mexican timeshare scam. Another Mexican timeshare scam that has occurred in the past is that a scammer convinces a potential buyer that they can sell their old, unwanted timeshare but that they must invest in a new, better timeshare first. The Mexican timeshare scam is successful because the reality is the scammer will not help you sell your old timeshare and the poor victim ends up stuck with two timeshares.
Do not sign on the spot!
It is easier to spot the aggressive sales tactics used in Mexican timeshare scams once you know what to look for. Another red light that indicates you are at risk for a Mexican timeshare scam is when the broker insists you must sign a contract right now. Urgent requests are a huge indicator that you are likely dealing with a Mexican timeshare scam, and not a legitimate investment opportunity. Tread carefully and never, ever sign anything on the spot!
Review contracts at your own pace
It is pertinent that you carefully review any contracts regarding the timeshare offered to you before you sign anything. Even better, try to enlist the help of a lawyer who is specialized in real estate and timeshare transactions. They can offer invaluable advice to help prevent you from falling victim to a Mexican timeshare scam. Definitely visit the property in person and never, ever agree to purchase a timeshare that you have not seen for yourself. Sometimes Mexican timeshare scams offer amazing brochures and websites that seem professional, but in fact it is just a scam so that’s why you must see the property in person. There is an additional risk for Mexican timeshare scams if you attempt to buy property that is not yet built or still under construction. Financing for a property still in development may fall through and happens quite often in Mexico, and then you will suffer financially as a result. Lastly, check all maintenance fee details and use an escrow company so that the transaction is protected.
In conclusion, the best way to avoid Mexican timeshare scams is to never, ever sign anything on the spot. Gather all the available information and review it at home with more care. Despite persuasive or aggressive salespersons or amazing offers or incentives, be careful and protect yourself by taking time to make these important financial decisions. If you carefully review all contracts and visit the property, do not make decisions or sign anything on the spot, and enlist the help of lawyers and escrow companies, you are well on your way to avoiding Mexican timeshare scams.