SCAM ALERT: 8 Tips on How to Avoid Timeshare Fraud

Fraudulent timeshare schemes are have become a very big problem, most especially in these economically difficult times as a lot of timeshare owners can no longer afford them. Timeshare fraud is an investment scam that offers you a contract so you can easily become a property millionaire from purchasing a timeshare. 

For instance, you are asked to attend a timeshare presentation and then offered a share in a property that will let you use it or rent it for a certain period every year. Usually, they will promise you an expensive gift if you stay until the presentation ends or you may won a prize if you attend the presentation. Of course, these strategies are also offered by legitimate timeshare company, so you will think that you are dealing with a fraudster. However, the gift they offered is not as advertised and you may be asked to pay an administration fee to cover its value. 

During the presentation, be ready to handle a high pressure situation. They will offer you a too good to be true claims and will pressure you to buy a timeshare. This will be a warning that you should proceed with the contract. Also, they might also say that a particular deal is only available for that moment. They want you to think that you will miss out a great opportunity and will make you think it over but actually, the offer will still be there tomorrow. 

If you already got a timeshare, they may offer to sell it on your behalf for a fee. Or, if you have already fallen victim to a timeshare fraud, the new fraudster may also offer to pay any legal fees you might encounter.

TIPS ON HOW TO AVOID TIMESHARE FRAUDSTERS

• Check if the person or the company is licensed or registered to sell title insurance in your country. Contact and report immediately if you become aware that it is a scam.
• Never make investments without researching about the company's information. Check into the company's exact name and ask for several references.
• Do research about the company's address and phone number. Make sure that it is their real address and if the phone number is working. If you are contacted by phone, don't continue the conversation. It is better to visit their office in person.






• Never ever agree or accept any offers on the spot. Ask them if they can send you the details of the contract in writing and take your time to evaluate whether the services offered is a good one.

• Don't be enticed by their verbal promises. If the it's not in writing, then it will be broken. If they have verbal promises, make sure they are written in the contract. 
• Don't pay for anything up front. Better ask about the expenses they asked you to pay. If the explanation is suspicious have it reviewed by your attorney. If the sales person promised you something that’s not in the contract, don’t sign the contract. It is obviously a scam.
• Don't hesitate to ask questions and take your time before signing a contract. If the company is legitimate, they will allow you to do so.
• If the offers seems too good to be true, it usually is a scam.

Just be sure it all makes sense. Consider a timeshare the same way you would consider any other real estate investment. Research and educate yourself on the insurance market and the value.

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