The telltale signs of a timeshare scam will be revealed for you. You can trust and believe it or not, but there are genuine timeshare companies out there that provide a valuable service that is a great deal for the money where you will get the opportunity to stay around the world with only the top and best accommodations. The genuine timeshare companies can provide buyers with a way to actually own their second home without any of the stress and responsibilities of being the homeowner. Even though there are genuine timeshare companies, you should still look out for the timeshare scams too. Are you wanting to purchase a timeshare? If you are, then you should take a few minutes to read the 10 telltale signs of a timeshare scam provided below.
10 Telltale Signs of a Timeshare Scam:
No Contract has been Signed
You have purchased a timeshare and you have paid with cash money, but you have not signed a contract. Unfortunately, this is a common telltale sign of a timeshare scam.
Bait and Switch Trick
The bait and switch trick is when you have been taken to one of the best, beautiful resorts in the area, but then the timeshare that is being sold is not for that beautiful resort, but another location and resort is on the timeshare contract. This is a top 10 telltale signs of a timeshare scam.
If any timeshare company promises you to upgrade or trade your timeshare with a top competitor, then you may be in for a timeshare scam, unless you are still in the cooling off period.
Sign a Timeshare Contract Outside of the Resort
If you have visited a resort, but didn’t purchase the timeshare and your agent contacts and offers you a much better deal for the timeshare, so you agree for the timeshare purchase and you sign a timeshare contract outside of the resort. This is a telltale sign of a timeshare scam.
Your OPC Changes the Resort
If you were approached by a salesperson for a resort or hotel for a timeshare presentation, then the day arrives for the presentation and you are taken to a totally different timeshare, then you have been probably encountered by a timeshare scam. First, you should insist to be taken to the first introduced resort, and don’t let them change your mind!
Timeshare Gifts Payment
Did you attend a timeshare presentation for the required time limit, then you were given timeshare gifts, but the timeshare gifts weren’t free and you had to pay for them. If this has happened to you, then this is a common telltale sign of a timeshare scam.
Agents for Timeshare Cancellations
If an agent promises to cancel your timeshare for you at a cost, then this is a telltale sign of a timeshare scam. The only time that a timeshare can be legally cancelled is during the cooling off period.
One of the biggest timeshare scams is online resales. You should always take precaution when you are purchasing online resales, even though there are some genuine timeshare resales online.
Fees Paid Upfront
Anytime that you are asked to pay fees upfront for renting out your timeshare or selling your timeshare, then you should thoroughly check out the company. If you are wanting to rent or sell your timeshare, then it is best that you choose a reputable timeshare company that will work on commissions.
Out of Nowhere Comes a Call
If you have received a call out of nowhere that persuades you to sell your timeshare, then you should be careful, because this is a telltale sign of a timeshare scam.