Timeshare Scams – Watch Out For These
Timeshare related frauds are on the rise and many timeshare resellers have fallen victim to these scams. These scams usually target users who are disappointed because they cannot get rid of their timeshare for a good price. This weakness is exploited in the timeshare scams.
Many timeshare owners are trying to sell their timeshares after figuring out that they will not be able to go to the resort in vacations but would still have to pay maintenance fees and other charges. After a few days of trying to sell their timeshare, many resellers lose hope and think that it is not possible to sell timeshare for a good price. At this point, the fake timeshare buyers or fake real estate agencies step in and give fake offers to sellers. The already stressed owners take it and are robbed of their money one way or another. This is why it is important to know about timeshare scams.
The first and very common scam is when fraud companies tell a user that his timeshare can go for a very good price if he pays a certain amount of money to register on their site. Others do the same thing by calling it an ‘appraisal fee’. Another fraud is when fake companies take up front fees by guaranteeing a selling price in terms of percentage of original price. These companies mix up the legal mumbo jumbo to fool sellers and confuse them.
Another timeshare fraud is when fake companies will tell you to exchange your timeshare for one that is easier to sell. Since verbal communication is not covered by most legal laws. You would end up signing a legal agreement that will specify that you wanted to exchange your timeshare for one given by the company. The exchange timeshare will obviously be totally worthless.
Keep the above mentioned timeshare frauds in mind while trying to sell your timeshare. This can save your time, money as well as your timeshare.