Reef Coco Beach and its resale company
All-inclusive has different meanings in different resorts, and there is no standard agreement on what is or is not included in the resort’s package price. Likewise, when booking at The Reef Coco Beach hotel, where a vacation stay could leave you without your savings if you’re not careful about falling into one of their vacation club packages or better said timeshare traps.
Resort operators know that one all-inclusive package does not fit all visitors, so they develop different options that would fit a vacation owner individually. The variety of options attracts a larger customer base and increases demand for ownership.
Though the scam always starts the same way.
First, a family of tourists arrives at the hotel and the hotel mentions that if they attend a presentation they will be given free tickets to theme parks, receive prizes and even have the chance to win cash.
The timeshare presentation which is expected to last only half an hour, turns out to take more than 3 hours.
During the presentation, vacationers are offered many “deals” that are supposed to make their stay at The Reef Coco Beach & Spa the best experience to travel each year at a very low price compared to the one given to normal visitors.
However, sellers mention only some of the costs that timeshare imply, but do not indicate to the buyer that they will also have to pay property maintenance, assessment fees, interest on loan financing, among other things. Which are the main reasons why clients later want to get rid of their timeshare.
In addition, sellers mention the possibility of cancelling the contract at any time the buyer decides to do so, but do not mention that a cancellation period exists.
Such a cancellation period is usually 5 days after signing the contract, and most often during those first 5 days, the vacation owner will be enjoying their vacation and not looking to cancel the contract.
Furthermore, the Reef Coco salespeople also affirm to clients that if they are not able to travel, they can rent out their weeks and thus earn extra income. And in the worst cases, sell it if they don’t want it anymore, anyhow they will still get more than what they paid for if they work with their resale company .
Honestly, the Coco Reef hotel sells thousands of timeshares per year, which means that when the buyer decides to resell it, there will be no buyers.
Given that they do this, it makes Reef Coco Beach booking restrictive.
Timeshare owners, after a short period of time, find out all the drawbacks that this place has and eventually start looking to get rid of the timeshare without losing any of the money already given. Cancelling the contract and getting a refund of course is the desired result
Therefore, they contact the resort and raise the situation. Now, at this moment is that the Reef Coco makes mention of the cancellation clause and tells owners that the cancellation is not possible, however, they can help them sell their timeshare as it has a very high demand in the resale market.
The Reef Coco gives all the details to the owner and in due course a person from a resale company reaches by phone. Latitude 21 is how they present themselves and affirm to help with the resale process.
The Reef Coco Beach and its Resale Company
Latitude 21 is a resale company that works hand to hand with The Reef Coco Beach Riviera Maya and The Reef Coco Beach Playcar.
Latitude 21 resale requires an upfront payment to put the weeks to sale on their website and since it is a company that Reef Coco Beach suggested then clients are confident that they will get their money back and most importantly get rid of their timeshare.
The fee charged can range from 500 to 1200 dollars depending on the weeks to sell, however on many occasions after paying the first amount, some additional charges are requested.
Then they mention that they’ll do all the process and will get in touch as soon as there is a potential buyer.
Months go by and nothing. No calls, no emails, nothing.
When clients finally decide to get in touch with them because they realize that their weeks are not being sold, they just ask for more money to continue advertising the weeks.
Of course, clients then contact the Reef Coco Beach hotel to complain about their resale company, and they just respond that they are not responsible for that.
At last, clients are left with their timeshare and having lost more money with the fraudulent resale company.
Dealing with The Reef Coco Beach and Latitude 21 can be frustrating, therefore you need to think carefully before making any deals with them.
Take the time to investigate before making any commitments. Thousands of people each year are scammed with a timeshare during their vacation in Mexico.
Don’t feel bad if you have bought a timeshare, take action and prevent others from falling for it too
At Mexican Timeshare Solutions, we assist timeshare purchasers who have been scammed by fraudulent timeshare companies.
We do not request any upfront fees, meaning that, if our associates cannot cancel your timeshare contract successfully, you do not pay us a penny.
Contact Mexican Timeshare Solutions today for a free consultation and professional advice on how to get rid of your timeshare contract.
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