5 Common Timeshare Scams & How To Avoid Them

COMMON TIMESHARE SCAMS And How to Avoid Them Whilst we think of timeshares as a thing of the past, they're still very much alive and kicking. Unfortunately, it is an industry full of fraudsters and you wouldn't have to ask around too much to find someone who has been the victim of a timeshare-related scam. Here's 5 common timeshare scams and our advice and top tips on how to avoid them: 1- The FREE Gift Scam WHAT A timeshare company offers a free gift such as tickets to a local attraction, a bottle of something or now, before you have even arrived, a hugely discounted stay in their timeshare resort. However, to receive this gift you'll have to attend a high-pressure sales presentation and you'l|l only qualify for your gift if you stay the full length of time, or some clauses say on purchase. HOW TO AVOID / Always read the small print and don't pay for any thing that you're not comfortable committing to. Don't attend a timeshare presentation purely for your 'free gift' which really is too good to be true. 2) The Presentation Scam WHAT While not a scam in the same light as others, the high pressure sales tactics of timeshare presentations have gained an unsavoury reputation, with many finding themselves giving in to scare tactics and incentives which are supposedly only valid on the day. HOW TΟ AVOID / Always ensure you fully understand the financial commitments. V Make sure that you get a full copy of the contract. / If you're being pressured into anything, get up and leave the presentation. Don't feel you can't say no. The Resale Scam WHAT The most common timeshare scam is where a cold caller will inform you that they have a buyer for your timeshare, but they'll require an upfront fee or that they require your card details to process the sale. At this point the fraudster will simply take your money and disappear. The buyer doesn't exist and you'll still be stuck with a timeshare you don't want at the end of an expensive ordeal. HOW TΟ AVOID V Legitimate resale companies will never ask for an upfront fee. Instead, they will ask you to sign a contract, and you'll only pay an agreed amount after your property is actually sold. Very much like an estate agent. V Investigate the company first and ask them to prove previous results. Don't carry out any resale purely over the phone. Try to meet in person or at least obtain a physical address for the business. The Advertising Scam WHAT Similar to the resale scam, some companies will promise to sell your timeshare for a fee, but are only actually advertising it to brokers. This means they are essentially acting as a middleman and adding an unnecessary extra cost to your resale. HOW TΟ AVOID Try to sell a timeshare yourself through trusted channels. / As always, be wary of upfront fees as no legitimate company should ask for these. V Go direct to a legitimate reseller or a consumer as sociation for advice and guidance. The Double Dip Scam WHAT If you've been affected by any of the scams above, you may find yourself receiving cold calls offering to help you claim compensation.. of course for a further fee. Unfortunately, this often turns out to be a further scam, and could may even be operated by the same company who initially scammed you! HOW TO AVOID Always be wary of any cold calls as any genuine solicitors will not act unethically in this way. V Be wary if a company offers to recoup a significant amount more than what you actually lost. Ask for physical addresses and names of company directors to allow you to carry out your own research. Never allow yourself to be pressured into agreeing to proceed with a claim. Brought to you by Timeshare Consumer Association www.timeshareconsumerassociation.org.uk