You’ve put your business card into a drawing at a local restaurant promising you the chance to win a cruise. Sounds good, right? Perhaps. Then, you get a call telling you that you’ve won the cruise. Great, right? Maybe. Oh, they forgot to tell you that you need to come to their seminar and listen, just listen to a little speech and then you’ll have your cruise. They may even promise you dinner. Sounds too good to be true, right? That’s the idea. It is.
By the time you get to the seminar, the timeshare scams are in place. They’ve got you and hundreds of other people right where they want them and so they begin. They will go on to try and convince everyone why buying into a timeshare unit is such a great investment. Many folks understand this for what it is, and walk away.
Some will buy the timeshare. And once they’ve committed, the timeshare scam is such that there will be increased maintenance fees and upgrades or remodels that are necessary. And the owner of the timeshare unit is held responsible for these payments. If the owner can’t afford the payments they may try to sell their timeshare unit. That’s when they find out they owe more than it’s worth. Their sale price was over inflated to include various fees and now they are left with a sizeable loss.
The desperate homeowner just wants help getting out of a timeshare and they turn to a resale company. But hold on! This is where the many resale scams artists take the owner’s hard earned money and claim they are using it to advertise the sale. It is imperative that any owner of a timeshare does their homework and is certain that any resale company they are considering is legitimate. The resale company should never ask for any money upfront – only when the unit has sold.
So, we have all heard the saying and, really, it’s the best piece of advice when walking into a vacation ownership seminar.
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