The sale of timeshare ownership has become an enormously profitable way for resorts to generate additional income. In essence, buying a timeshare means that you get to share a vacation property with different parties, usually divided by 52 weeks. If you are interested in getting one of these properties, it is very likely that you have to assist a sales presentation, where you will be pushed at a certain point to sign a sales agreement. But, how do I know if I was a timeshare scam victim? In the following paragraphs we will tell you the most common lies said during timeshare presentations.
One of the most popular frauds in Mexico
Mexican timeshare fraud has been increasing over the last years, this according to PROFECO, the Government’s Consumer Protection Agency in Mexico. Only this year, from January to April, 478 complaints about 20 different timeshare companies have already been filed, but that is only the beginning. After the complaint is filed, it takes a long time to accomplish a conciliation of the case, and that is not always possible.
Before buying a timeshare in Mexico, it is very important that you get to know your timeshare cancellation rights. When you purchase a timeshare in Mexico, you have 5 business days to cancel the contract; this after the contract is signed. Another important thing to know, it’s that under the Mexican law, verbal promises are not valid if they are not written. Therefore, you should read your contract very carefully before you sign it.
How do I know if I was a timeshare scam victim?
At this point, you are probably wondering, How do I know if I was a timeshare scam victim? – If you know recognize any of the following statements, it is very likely that you are a timeshare scam victim:
- The verbal promises told by the timeshares salespeople during the presentation are not established in the contract
- You were told that your timeshare would be a smart financial investment
- They told you that your timeshare would be easy to resell
- You were told that you could rent your timeshare weeks easily so you can make a profit out of them
- You were told that you could travel all over the world with your timeshare unit
- You were told that you wouldn’t pay any timeshare maintenance fees, or that they would stay fixed
- You were told that you would get great discounts in cruises, air tickets, car rentals, city tours, etc.
Also Read: Mexican Timeshare Fraud
What to do if I end up being a timeshare scam victim?
If you unfortunately, find yourself stuck in a timeshare scam, you will be glad to hear that there is a way to get out of timeshare legally. If you have already purchased a timeshare, contact us at Mexican Timeshare Solutions. We offer professional and efficient services to cancel your timeshare contract as soon as possible. At MTS, we will work hard on your behalf and with no upfront fees. Contact us today for a free consultation!
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