Timeshare scams on Mexican resales are a continuing issue, and the fraudsters target even the happiest of Mexican timeshare owners. In fact, the scammers seem to be getting more and more sophisticated, too. In the past it was easier to tell a fraudulent company than it is now; a few simple checks such as checking the Better Business Bureau for comments and an internet search could do the trick to identify timeshare scams. These days the rise in identity theft means that the name of the resale agent or company could lead you to believe that you’re dealing with someone legitimate who represents an upstanding company.
Timeshare Scams, Mexican Resales, and Identity Theft
The most common trend at the moment is for a group or individual to pose as a legitimate Mexican resale company or real estate agent; very often they will steal the identity of a “real” company to pass themselves off as a genuine provider. They can be surprisingly sophisticated and may even deploy a dummy website, and if they’re contacting you directly they might even use the name of a person who actually works for a specific company in order to fool you.
This means that by the time victims cotton on to the timeshare scams, they’re generally already out of pocket!
How do timeshare scams affect Mexican resales?
Generally speaking, what happens is that timeshare owners are contacted by Mexican resale scammers who claim that they already have a buyer lined up for their timeshare membership. Usually this buyer will be willing to pay huge amounts of money, and will be in a rush… but they will need to complete “certain checks” and so you will need to fill in paperwork and wire them some money. This money is merely to cover the cost of title searches, surveys, etc, of course and you will make it back when you sell… Or so you think!
Except when the brains behind the timeshare scams have your money they will either disappear entirely or you will be told that there’s an anomaly which needs verification. Which will, of course, require that you send them more money for the Mexican resale procedures. This process will continue for some time, until many consumers begin to feel that they are “in too deep” to back out and stop paying the extra fees. They go on in hope that the sale will eventually go through. Of course it never does, and many people end up in real debt as a result.
Don’t focus on the name
The key to avoiding such resale scams in Mexico is to think about the way the company operates rather than who they claim to be. They may have a legitimate name so no amount of research will tip you off, but the way they speak and display themselves will tell you everything you need to know. Take a look at the key signs to know you are walking into a timeshare scam for Mexican resales.
Are they professional, or do they used pressuring, aggressive language? Is written communication professionally worded and free of spelling and grammar errors? Pay close attention to contracts you’re asked to sign.
Wiring payments for Mexican resales
If you are asked to wire money take this as a warning sign.
Are they offering too much money for your resale?
Are they offering much more than you were told the timeshare is worth? Check the market to see what’s reasonable; if it seems too good to be true it likely is and you are probably heading into a timeshare scam.
Manipulation and feeling patronized
If they patronize, try to make you feel guilty, pile on the pressure, or become aggressive or even passive-aggressive take this as a warning sign. Scammers will use psychological tricks to manipulate their victims.
Trust your gut about timeshare scams; there’s much to be said for intuition. If you don’t feel right back away.
Only you can recognize when someone is trying to scam you, but if you are savvy, cautious, and you keep in mind what we have told you today you will find that your risk is significantly reduced. Remember resales timeshare scams are not restricted to Mexico, either; scams can happen all over the world.