Timeshare fraud and Timeshare Scam: 8 tips to detect if you are a victim.
Call MTS right away if you were told these lies while purchasing a timeshare contract
The timeshare industry has two faces: on the one hand, has guaranteed vacations in beautiful and luxury suites at amazing places and promise to be less expensive over time to travel through a travel agent. On the other hand, unfortunately is also rife of deception, misrepresented promises and scams by unscrupulous sellers who are not interested in nothing but their welfare despite leaving an innocent purchaser with unnecessary debt.
In MTS, the majority of people who contact us is because they've been victims of a scam. They contact us when they realize they canâ€™t exchange their timeshare for airline tickets, when they waited for the check for the rental of their property and the check never arrived or simply because their reservations and exchange system was not as efficient as the seller promised.
That's why we decided to make a list of the most common lies spoken by sellers lacking of professional ethics hoping that this list can help people to realize if they made a smart decision when purchasing a life time vacation or have been a victim of time share fraud.
Below you will find a list of most common lies said by the timeshare sellers at timeshare presentations. Read them carefully and if your sales person told you some of the statements read in the list, take action on this issue and contact us now to give you a free consultation on how MTS can help you with your problem.
In MTS our priority is to help people who have been victims of timeshare fraud to cancel their contracts. We work with determination to eradicate this type of fraudulent sales, with honesty and loyalty to our customers, and gives confidence to offer a system of payment for our services that is based on results. Feel free to contact us if you have any questions about your timeshare and get a free consultation to receive advice from one of our experts.
Timeshare fraud &Timeshare scams #1:
LIE: "TIMESHARE IS A FINANCIAL INVESTMENT"
TRUTH: Timeshares are a good product when the customer understands that the investment relies on the usage of the product with the family or spouse. Timeshares are not a good financial investment opportunity especially if you are buying from the[...]
Timeshare fraud &Timeshare scams #2:
LIE: "THE MARKETING OR RENTAL COMPANY WILL RENT YOUR TIMESHARE FOR A PROFIT"
TRUTH: This is probably the biggest time share scam of all. This is usually mentioned at an early stage in the presentation when the salesman is offering the different usage of the timeshare. Then, when the closer or "manager" comes in to close the deal, this last person hits it hard to justify the cost of the purchase. He makes it look like a good way to recover the money invested if the couple canÂ´t use the timeshare. This and the next tip can really damage the economy of the customer if they purchase based on a future income to cover the cost of this timeshare.
Timeshare fraud &Timeshare scams #3:
LIE: "THE DEVELOPER WILL SELL YOUR TIMESHARE FOR A PROFIT"
TRUTH: This is the most common timeshare scam, many people have come to us because of this option. If a client already has a timeshare, the salesman makes the customer believe that the resort will buy their timeshare or refer them to an agency that will sell their existing timeshare within 60-120 days. Often there is a fee to list the property, and they never sell the timeshare, leaving clients with two timeshares, two maintenance fees and a new credit card debt.
Timeshare fraud &Timeshare scams #4:
LIE: "TIMESHARE IS PRESENTED AS EASY TO RESELL"
TRUTH:This option is also presented an an early stage of the sale process, the salesman would say :"you can use it, rent it, resell it... in fact, our timeshare goes up in value 5% every year...". Other timeshares go to the extent to offer the "right of first refusal". This is nothing more than the creation of an atmosphere where the salesman makes the customer believe that if for any reason they are not happy or canÂ´t afford it, the company will buy it back for a profit in the near future.
Timeshare fraud &Timeshare scams #5:
LIE: "GREAT DISCOUNTS ON AIRFARE, CRUISES, HOTELS, CAR RENTAL, OR TOURS"
TRUTH: It is very common that the sales people exaggerate the benefits of the timeshare to entice a sale. The salesman might show you a chart explaining how they can get you an airfare for up to 75% off or how to get a car rental for half of what it would usually would cost you on an internet site. While getting some discount is probable, obtaining the "exaggerated" reduced cost in airfare is not likely to happen. Clients have contacted us and expressed their dissatisfaction because they were told by the salesmen the airfare from New York to Cabo would be less than 300 US round trip. When they get to talk to customer service at their resort, the airfare is at least twice that amount (same as the internet or travel agent).
Timeshare fraud &Timeshare scams #6:
LIE: "TAX ADVANTAGES"
TRUTH:There are no tax advantages in USA or Canada for Americans or Canadians when purchasing a timeshare in Mexico.
Timeshare fraud &Timeshare scams #7:
LIE: "IT IS A DEEDED OR LIKE DEEDED PROPERTY (PERPETUITY)"
TRUTH: Timeshares in Mexico are a right to use or lease. While some timeshares are for up to 99 years, the average last from 20 to 30 years. This means that once the lease has ended, if the customer wants to extend the membership, he will be obligated to buy the timeshare again at future prices.
Timeshare fraud &Timeshare scams #8:
LIE: "YOU SIGNED A WAIVER RESCINDING YOUR 5 DAYS CANCELLATION RIGHT"
TRUTH:The right to cancel your membership within five days is a constitutional right that cannot be waived. It is becoming a common practice that timeshare developers include in their contract a cancellation waiver. When handling over the copy[...]