Over the years, due to timeshare scams and bad deals, timeshares have earned a bad reputation. Some unlucky individuals have experienced getting into such trouble, but did you know that most timeshare offers are legitimate? But if you are unaware of how to spot a timeshare scam, you may become a victim yourself. It is important to know the different ways scammers work so you can know how to protect yourself and avoid timeshare scams.
Think twice before signing anything
You can easily spot timeshare sales tactics from scammers if you know ahead what to look for. One common strategy is offering you an attractive discount on your timeshare, but you have to sign the contract as soon as possible. These kinds of hurried requests should be a warning sign that something is not right.
Another known tactic is attacking your ego, suggesting that at this time the deal is not great for you. A reverse psychology approach like this may lure some innocent victims into diving into the deal, and then they later realize that they have been fallen into a timeshare scam pitfall.
Watch out for an aggressive sales pitch
A hard sales pitch is another red flag to look for to avoid becoming a timeshare scam victim. Often, prizes and incentives are offered just to make you watch their timeshare presentation. Some even offer top dollar items like free cars and luxurious vacations. Be wise and read between the lines to make sure that what is being offered is truly available.
Some other timeshare scammers would require a timeshare fee paid before you become eligible. There are even others who would convince a victim to buy a new timeshare by offering to quickly sell an old, unwanted timeshare for them. There is actually no intention of selling another old timeshare and the unknowing victim, unfortunately, gets stuck with two timeshares.
Scrutinize all paperwork carefully
Before signing anything, the best way to protect yourself is to ask the assistance of a lawyer. Ask for their expertise to read over your contract before you affix your signature. Never purchase a property that you have not seen yourself. Ask to visit the property being sold before agreeing to a contract. Do not merely rely on pictures on brochures and on websites.
There are timeshare scams which include selling properties that are actually not yet built or are under construction. When this is the scenario, a possible failure of the development may occur and you are left with more problems to resolve. An escrow company is important when it comes to monetary transactions between a buyer and seller, especially in foreign markets.
Also, inquire for more information about the property’s maintenance. Ask about the maintenance details and fees included in your contract.
Remember to always understand and study everything before signing. This is the best tip to avoid being a scam victim. Gather all available information first, then take the documents home so that you can scrutinize them more carefully. Do not give in to persuasion, no matter how persuasive the agent is in person or how enticing the offer may seem at the moment. Take your time when making decisions. You can successfully avoid timeshare scams and enjoy the vacation property that you purchase for years to come if you follow these simple yet essential tips.