Are timeshares scams?
Timeshares are an OK option for travelers, nevertheless, timeshare scams have increased and people should be very cautious about anything related to them
Timeshare industry is known for being very susceptible to scams. Year after year, thousands of people around the world feel they were scammed by a timeshare developer. The reason why fractional ownership is successful, it’s because shared properties have become a tremendously profitable way for resorts to sell real estate- mostly suites in important touristic destinations. On the other hand, despite the success, timeshares have gained a bad reputation. The question is: are timeshares scams? Find out reading the next paragraphs.
Are timeshares scams?
Timeshares are not scams. A timeshare is a fractional ownership that you can use during a specific time of the year. However, regardless of what the salespeople claims, a vacation property should not be considered as a financial investment, in most cases, the customer has to pay an initial price and periodic timeshare maintenance fees, which are probable to increase each year, therefore, a timeshare should be only considered as a vacation option. There are many complaints about timeshare, being the next ones the most common:
- Timeshares are overpriced
- Timeshares depreciate over time
- Timeshares don’t deliver what salesmen promise
- Timeshare maintenance and assessment fees increase very constantly
- They don’t guarantee a vacation. You don’t have to own a timeshare to travel
- Timeshares are not flexible, in fact, you are subject to numerous conditions and restrictions
- Timeshares are not easy to sell, in fact, it is almost impossible to sell a timeshare
- Timeshare weeks are very difficult to rent
Because of the numerous timeshare complaints, many people assure that timeshares are scams. Before making any purchase, it is important to read your contract very carefully, ask as many questions as possible, research the company and understand how timeshares work. Visit our article how do timeshares work? to know more about it.
The sales tactics
Most timeshare companies are legitimate, but they are also known for using frightening tactics to sell vacation memberships. Nevertheless, these sales practices are not really illegal, but they are without doubt unethical. Sellers often encourage vacationers to attend timeshare presentations by offering them attractive prices and discounts, in fact, timeshare scams are easy to spot when the sales tactics are hardcore and high-pressure. Even so, there are many people who enjoy attending timeshare sales presentations just to get the freebies, but a considerable percentage end up buying a vacation membership, even though that wasn’t their first intention, and very few of them know their timeshare cancellation rights.
Do not underestimate the ability of timeshare salespeople to sell vacation memberships. They do this every day, and they do their job very well. Being that said, timeshares are scams only when the sales tactics are unethical and high pressure. Also, do not believe everything you hear, if it’s not written in the contract, it’s an invalid affirmation. To know more about fake promises told at timeshare sales pitches, visit our article Timeshare Scams: 8 common lies told at the sales presentation. There are many resorts that use fraudulent tactics to sell vacation memberships. Visit our Black List of Timeshare Fraud Resorts to know the most fraudulent timeshares companies in Mexico.
A dead end for many
Are timeshare scams? – The truth is that Timeshare scams are increasing, and every day more victims fell for them. Fortunately, there are many solutions to get rid of an unwanted timeshare; however, the best way to dump a timeshare is by cancelling the contract. Timeshare cancellation has many advantages, but the most important is that once the contract is properly cancelled, there are no further responsibilities attached to the resort.
At Mexican Timeshare Solutions we care, and to prove this to you, we guarantee our results by offering you a contingency fee. If we achieve the results promised we get paid; if not, you do not spend any more money on your timeshare claim. This is our commitment to you. Contact MTS for a free consultation and a full advice on how to get out of timeshare legally and get a final relief from your vacation ownership.
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To know more about fraudulent timeshare companies visit our article: Timeshare Companies: The Truth About Them