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7 Tips To Avoid Timeshare Scams
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7 Tips to Avoid Timeshare Scams

Timeshare is a multi-billion dollar industry.

In 2010, in the United States alone, people purchased nearly $5 Billion in timeshare properties. Timeshare is a hugely popular alternative to cramped hotel rooms. However, with this explosive growth, it’s becoming increasingly more important to understand how to avoid timeshare scams.

Tip #1: Never agree to anything over the phone. Many timeshare owners get cold calls promising they have dozens of people waiting in the wings to buy their timeshare. If you get a call this this, hang up immediately.

Tip #2: Another high-pressure gimmick is to tell you they won’t connect you with the buyer until after you pay them a processing or title fee. Keep in mind, as in any real-estate transaction, there are fees for selling a timeshare. Just make sure that before you send anyone any funds, they will be held by a reputable 3rd party.

Tip #3: Check the company’s longevity to see how long they’ve been around. A good “BBB” rating isn’t necessarily a guarantee. Many companies come and go so they can “hide” from the BBB. Longevity of a company is definitely a good sign.

Tip #4: Get any agreements in writing so you can review it on your own time before you make a decision.

Tip #5: Ask for their refund policy and get it in writing. Again, the longevity of the company is key here. What good is a refund policy if the company itself is a scam? Do your homework first, not later!

Tip #6: If you have any doubt, ask if they work with a licensed real-estate broker who specializes in timeshare sales. (the Timeshare industry is very unique and different from buying a home)

Tip #7: And this may be the most important. Don’t be afraid to ask about the process – how long it takes, if they have any references, etc. The longevity of the company here cannot be under-estimated. Remember, these companies work for you. Don't be afraid to ask questions if something isn't clear. Many people feel like these companies are "experts" and know what they're doing. That may be so, which is why it should be easy for them to answer your questions and help put your mind at ease.

There you go- 7 tips to avoid timeshare scams.

Vacations should be something to look forward to with your family. The last thing you want to do is have the vacation experience sourced by being scammed by a con-man.

If you have a timeshare that you’re looking to sell, hopefully these 7 tips will help you sell it successfully without getting scammed.

By the way, there are even better alternatives to cramped hotel rooms, timeshare limits and expensive fees.

There are vacation clubs that make you feel like you have your own private vacation home, on all the best properties, in all the best locations of the world... at a fraction of the cost of a timeshare and without any of the hassles, annual maintenance fees or hassles.

Vacations are meant to be enjoyed... not endured. So do your homework and then pack your bags!

Street Talk

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